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Loan servicing by FairwayNEXT provides convenient ways to obtain valuable information about your mortgage loan, such as where to make your first payment as well as who your current servicer is, and, if necessary, you can make a one-time ACH payment!

  • Check where to make your payments
  • View new servicer information
  • Obtain payment and loan details
  • Access loan servicing FAQs
  • Process a one-time online payment
  • Get notifications, such as the notice of transfer

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What is a servicing transfer, and how does it affect my loan?

Many activities must occur during the life of a mortgage loan, such as the application of monthly mortgage payments received from customers. Other activities may include paying taxes and insurance premiums from customer escrow accounts, customer service support, performing payment adjustments on adjustable-rate mortgage loans, providing assistance with payment options during difficult times, and many other activities. Collectively, these are mortgage-servicing activities performed by your mortgage servicer.

Sometimes, mortgage loans transfer from one mortgage servicer to another. When that occurs, you will receive a Notice of ServicinTransferer from your currenServicerer before the Transferer of your servicing and a similar notice from your new Servicer after the Transferer, or the notices may be combined into a single notice of servicinTransferer sent before the servicing transfer date.

The Notice of Servicing Transfer letter relating to your neServicerer is mailed to you in a Fairway green envelope. If you do not receive this information, please email us at or call our Customer Experience Department toll-free at (800) 201-7544, Monday - Friday from 8:30 a.m. to 5:00 p.m. Central Time. We will be happy to send a copy of your transfer notice.

In addition to the servicing of your mortgage loan, the ownership of your mortgage may change as well. The owner of your mortgage loan (which is referred to as an "investor," or a "government-sponsored entity," or "GSE") provides a framework of requirements regarding your mortgage loan, including options available if you encounter difficulties in making your monthly payments. When the ownership of your mortgage loan changes, you will receive a letter providing this information. Often, this is a letter sent by either Fannie Mae or Freddie Mac.

A transfer of servicing does not change any terms of your mortgage loan. It only changes who is performing servicing activities to support your mortgage loan.

Who is the new Servicer for my mortgage loan?

Your Notice of Servicing Transfer (mailed in the bright Fairway green envelope) will provide you with all of the contact information for your neServicerer. To assist you, below are a few of the industry-leading servicers who may receive servicing transferred by Fairway:

ServiceMac – Retained Servicing


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M&T Bank


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Mr. Cooper


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RoundPoint Mortgage Servicing


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Flagstar Bank


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Shellpoint Mortgage Servicing


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Webster Bank


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I received a notice my homeowners insurance had lapsed. What do I do?

When your loan transfers to our servicing center, it may take a few weeks for all documents and information to be updated. Please contact us if you receive a notice that your insurance has lapsed and your loan is escrowed. Our email address is We are more than happy to help you!

I received a refund check in the mail. What is it for?

To verify if the funds need to be placed back into your escrow or are yours to keep, please email

My mortgage loan is escrowed, and I received a notice my taxes were not paid. What do I do?

Some city and county tax agencies send copies of bills to the property owner, even if taxes are included in your escrow account. If you have questions or would like to forward the statement to Fairway to ensure it is paid, please email us at or call 1-800-201-7544.

Can I delete my escrow account from my mortgage loan?

In some instances, escrow accounts may be removed from the mortgage loan. These have to be reviewed on a case-by-case basis, and a written request signed by every customer on loan is required. For more information, please email us at or call 1-800-201-7544.

Is an escrow account required on my mortgage loan?

Escrow accounts are required for the life of the loan for FHA and VA loans. Conventional loan types may qualify for escrow deletion if specific investor requirements are met.

What is an escrow account?

An escrow account is an account that receives a portion of your monthly mortgage payment that covers the yearly cost of:

  • Taxes
  • Homeowners Insurance
  • Mortgage Insurance
  • And other escrowed items, as applicable

The monthly escrow payment amount equals 1/12 of the total of your taxes, homeowners insurance, and mortgage insurance, if applicable. Depending on the location and state of your mortgage property, there are additional factors in calculating your escrow payment.

The monthly escrow amount is added to your payment’s principal and interest portion to make up your total monthly mortgage amount. Escrow amounts may change yearly based on your tax and insurance amounts.

Some states allow mortgage servicers to maintain a cushion — or an additional amount of funds — to help offset a significant shortage on the escrow balance should tax amounts and insurance premiums increase significantly. Cushion amounts may be no more than 1/6 of the total escrow charges for the year, which means no more than two months' worth of monthly escrow collection may be maintained in the escrow account above and beyond amounts required to pay the bills for escrowed items when they come due.

When I complete my recast, will the private mortgage insurance (PMI) be removed from my mortgage loan?

The process of removing PMI once a recast is complete does not occur automatically. This is a separate request and process handled by your neServicerer.

Depending on the loan type, the amount paid toward the unpaid principal balance, and the original appraisal amount, loans may qualify to have PMI removed after completing a recast.

Loans must meet investor guidelines for PMI deletion, including loan-to-value ratios and payment history requirements. The appraised value from the appraisal used at the loan’s origination is good for 180 days from the appraisal completion date for purposes of removing PMI after a recast. After this timeframe, investor guidelines may require a new appraisal or valuation to ensure property value has not declined since the beginning of the loan.

Decisions and requirements may vary froServicerer tServicerer based on processes and interpretations. Your currenServicerer performs this evaluation and the processing of the request.

What is a recast?

A recast is a process of paying a large principal payment on your loan and re-amortizing the payments over the remaining mortgage term. This does not shorten the term or change the interest rate as a refinance, but it reduces the amount of the principal and interest portion of the monthly payment over the remaining life of your loan. This process is most commonly associated with the sale of an original home, investment home, or second home.

Example - When buying and financing a new home, the new mortgage may originate before the sale of the previously owned property occurs. When the previously owned property sells, some customers wish to pay those sale proceeds toward the unpaid principal balance of their new mortgage loan.

Conventional Fannie Mae and Freddie Mac loan types are eligible to be recast.

FHA, USDA, and VA loan types are not eligible to be recast.

  • A written request for a recast is required.
  • A minimum amount of $10,000.00 must be paid toward the outstanding principal balance.
  • A recast fee will be assessed, and this varies bServicerer.
  • Loans cannot have had any prior modifications.
  • Loans cannot be delinquent on monthly payments.
  • Loans cannot be in active bankruptcy status.
  • Interest-only loan types are not eligible.
  • Adjustable-rate mortgage (ARM) loans must be reviewed for a recast no later than six months before the first scheduled interest rate change.

What is private mortgage insurance (PMI)? Can I remove PMI from my monthly payment?

Private mortgage insurance (PMI) is required on Conventional mortgage loans that originate with a loan-to-value (LTV) ratio of 80% or more. If the down payment at the time of the origination is less than 20% of the original mortgage loan amount, PMI must be included in the escrow portion of the monthly payment.

Based on your loan type and other investor requirements, you may be eligible to request PMI be removed before its automatic termination date.

  • You can request private mortgage insurance (PMI) be removed when your loan-to-value ratio (LTV) reaches 80%. A written request must be submitted to your currenServicerer for the loan to be reviewed, and the conditions must meet all applicable requirements for approval.
  • Private mortgage insurance (PMI) will automatically be dropped when the LTV reaches 78% based on the original term and amortization of the mortgage loan.

Can the servicing of my mortgage loan be switched to a servicer other than the one it has been transferred to?

Upon the sale and servicing transfer of your mortgage loan, Fairway cannot subsequently change your neServicerer. Your neServicerer controls the activities and decisions supporting your mortgage loan. With written authorization (per your neServicer's requirements), Fairway may advocate for you if requested. Even if your servicing transfers, your relationship is essential to us at Fairway.