Webster Loans - ACH and Discounted Payment Amount

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

Loans originating with Fairway and transferring servicing to Webster may receive a discount on the interest portion of their monthly payment by opening a checking account with Webster Bank and enrolling in recurring monthly ACH using this Webster Bank Checking Account.


These loans are coded in FICS, and the interest rate is manually re-calculated by the Cashiering Team to reflect the lower interest rate.  


Identify these loans with by viewing a specific memo in FICS:

  • Subject: Webster Loan Special Handling
  • The reduced P&I amount and total new payment will be defined in the memo


Example:


These customers are unable to use the self-service options of the IVR and FairwayNEXT.com to process the payment at the reduced amount.  

Customers must either mail a check to the payment address or speak with a Customer Experience Specialist who will process the payment at the reduced amount.  

Webster Bank loans in the amount of $1,000,000 or greater will not be eligible for this Webster Bank ACH Discount Program.