Tax Talking Points for Non-Retained Loans in Wisconsin

Information on this page applies to Interim Servicing and Servicing 911.

Please review this helpful information regarding taxes and talking points for Wisconsin loans that are not in the retained servicing portfolio.

Fairway transfers loans to large volume servicers, such as M&T Bank, Flagstar Bank, Mr. Cooper and Loancare, and their tax services (such as CoreLogic) remit bulk disbursements to tax offices.  

In most cases these bulk disbursements remitted by the tax services are one large wire or check for the dollar amount of all loans they service in that payee, not just the loans for individual servicers/subservicers.

In many cases, tax offices balance these remittances last because of the large dollar amounts and the number of parcels to update. 

In Wisconsin, tax offices will accept the wire received date or the post mark date.

Advise LOs and customers of the information referenced above if a tax disbursement was made from the customer’s escrow account directly to the tax office, or if a tax payment appears on their year-end statement but does not reflect as paid at the tax office.

For Servicing 911, the following approach is recommended by the Escrow Department when inquiring about Wisconsin tax payments with other servicers.  

Instead of only asking if taxes were paid, request the servicer verify the following:

  • Date of disbursement of tax funds
  • Dollar amount of the disbursement
  • Parcel number referenced with the disbursement

Some tax payments may not be processed or posted at the tax office until after the January 31st due date.

Please reassure LOs and customers the tax offices in Wisconsin will backdate payments to January 31st if processed after that date.