Recast

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Recast Guidelines - Non-Retained Servicing
Last Updated 02/04/2022 Non-Retained Servicers Permitting Recasts Guidelines Servicer: JP Morgan Chase Bank (Serviced by JPMC)  Bayview Two Harbors/ Flagstar  Bank Loancare Lakeview/  M&T Bank Mr.  Cooper Select...
Recast Guidelines - Retained Servicing
Customers whose loans are retained serviced with our subservicer, ServiceMac, branded as Fairway may request a recast on their loan based on meeting the requirements listed below.  Eligible customers must submit the form to begin the process. ...
Recast Guidelines - Jumbo Loans
DISCLAIMER:   This chart does not include all correspondent/jumbo programs.  These are some of our higher volume partners.  Fairway does not own or influence this information and cannot confirm accuracy of recast options and requi...
Investor/Loan Types Not Eligible to Recast
Investor/Loan Types Not Eligible to Recast Recasts cannot be performed on FHA, RHS, or VA loan types - only Conventional loan types are eligible.   JP Morgan Mortgage Acquisition Corp loans subserviced by Shellpoint are not ...
What is a Recast?
A  recast  is the process of submitting and applying a large principal payment and using the new reduced loan balance to re-amortize the existing monthly mortgage payments over the remaining term of the loan.  This process do...
Recast Eligible Loan Types and General Guidelines
Eligible loan types (if Servicer permits) •  Conventional Fannie Mae • Conventional Freddie Mac  Non-eligible  loan types FHA RHS USDA VA General Recast Guidelines Written requ...