RETAINED SERVICING - Customers Impacted by COVID-19 Coronavirus Pandemic

This procedure and content on this page will be updated as additional options become available and as processes and guidelines change.

Fairway Retained Servicing Loans serviced by ServiceMac

If customers contact the Customer Experience team or if Loan Officers contact Servicing 911 on behalf of customers impacted by the COVID-19 Coronavirus Pandemic and are experiencing a financial hardship, follow the steps below.

Express Empathy when speaking with these customers.  Examples include:  

  • I regret to hear you are experiencing this hardship - let me help you now.
  • Fairway is here to listen and to help, thank you for calling us.
  • I can sense this is frustrating for you, I will see what I can do to help right now.
  • I see how this can be difficult for you right now, and I will work with you today to see how we can help.

Note:  These are example phrases and are not required to be used verbatim.  Feel free to use similar language and phrases - that you would naturally say - to connect with customers and reassure them we are here to help and that we care.  

Key Point:  All loans in the Fairway Retained Servicing portfolio will not be assessed late fees or negatively reported to the credit bureaus through July 6, 2020. 

  • This applies to all Retained Servicing loans regardless of loan status
  • This should ease concern for customers not immediately impacted by job loss or income reduction


Customer is directly impacted at this time and cannot make current and/or subsequent mortgage payments as a result of COVID-19  


Customer advises they may be impacted in the future and inquiring about available options

Customers who are Directly Impacted Now

Possible Reasons for Default:

  • Reduction in income (pay or hours)
  • Quarantine
  • Loss of Childcare/unable to work
  • Job closed 

Script to speak to Customers <UPDATED> :

We have an option for you today – it is a three-month forbearance plan.  There are no payments due during the forbearance plan, BUT all payments will be due at the end of the three months.  

At the end of the forbearance plan, if you are unable to repay the amount owed, you will be evaluated for other options to reinstate your loan.  This may include a modification, repayment plan, or other option available by your investor.

We encourage you to make any payment(s) during this time. 

During this time, you will continue to receive a monthly billing statement.  There will be NO late fees or negative credit reporting during the plan period.

Monthly “check-ins” will still occur, and this allows the opportunity to discuss changes in your financial situation.

We will be sending a letter after today’s conversation to confirm the forbearance plan.

NOTE:  If you are on monthly automatic draft or bi weekly payment drafting, it will be deleted at time of Forbearnance Plan set-up.  

A letter will be sent prior to the expiration of the forbearance plan as reminder to re-establish the drafting.

Take the Following Action <UPDATED> 

Run the MSP Director Script for Covid-19 Assistance.  The Director Script will review the loan, set up a Forbearance Plan and generate a Forbearance Plan Letter to be mailed to customers.

  • Click Here to view the MSP Director Script procedure  
  • Click Here to view the verbiage contained in the COVID-19 Forbearance Letter

Customer who may be Impacted in the Future

Examples of future impact: 

  • Employer may be closing down
  • Customer is able to make payments now but may not if company closes

Script to speak to Customers <UPDATED> :

Since you are not financially impacted at this time, we are not able to offer an option for you.  Please be assured there are options available in the event that you do become financially impacted.  

Call us if you are financially impacted in the future due to COVID-19.

Take the Following Action <UPDATED>

Run the MSP Director Script for Covid-19 Assistance

  • Click Here to view this procedure
  • Select NO when the script prompts "Financial Assistance?" - verbiage will appear in the pop-up to speak to customers

Customer may ask for:

  • Deferment
  • Add payment to end of loan
  • Skip a payment

Script to speak to Customers <UPDATED> :

We acknowledge there are communications and media coverage on deferments.  There are certain investors (Freddie Mac and Fannie Mae) that will be rolling out a new program as of July 1st, 2020.

As soon as we receive additional instructions, we will notify our impacted customers.

  • Log the call with the CSCVIN Comment Code

For all Non-Performing Loans (26 or more days past due):

  • Follow standard operating procedure and connect caller to Collections
  • Log the call with the CSLCRY Comment Code

Script to speak to Customer:

Thank you Mr./Mrs. Customer for authenticating the account information. 

I have accessed your account; however, I must transfer you to an agent who is able to discuss the account with you. 

Do you mind holding while I reach an available agent