Search for something...

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Fairway Next logo image

After closing payment information

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!

Find Your Loan
Laptop image with website screenshot of Fairway Next

Who Are We?

Fairway Independent Mortgage Corporation

At Fairway Independent Mortgage Corporation, customer service is a way of life. We are dedicated to finding great rates and loan options for our customers while offering some of the fastest turn times in the industry. Our goal is to act as a trusted advisor, providing highly personalized service and helping you through every step of the loan process – from application to closing and beyond. It’s all designed to exceed expectations, provide satisfaction and earn trust.

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 the payment of 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.

From time to time, mortgage loans transfer from one mortgage servicer to another. When that occurs, you will receive a Notice of Servicing Transfer from your current servicer prior to the transfer of your servicing as well as a similar notice from your new servicer after the transfer or the notices may be combined into a single notice of servicing transfer sent prior to the servicing transfer date.

The Notice of Servicing Transfer letter relating to your new servicer is mailed to you in a Fairway green envelope. If you do not receive this information, please feel free to 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.

What can I expect after my loan closes?

Look for the Green Envelope!

Remember to watch for the Transfer of Servicing notice from Fairway in your mail. You can’t miss it - look for the bright Fairway green envelope!

Look for a green envelope after you close.

Where do I make my first payment?

If your first payment is due to Fairway, please mail your first payment to the address highlighted in this section or call our Concierge Department to make a payment via phone free of charge.

Once your loan transfers to your new servicer you may have options to set up online payments, recurring automatic draft and biweekly payments if offered by your servicer. Contact your new servicer directly for details on all available payment options.

For some customers, the first payment may be due to your new servicer. Be sure to watch for the Transfer of Servicing notice from Fairway in your mail. You can’t miss it - look for the bright Fairway green envelope!

Who is the new servicer for my mortgage loan?

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

ServiceMac - Retained Servicing

Toll Free
Visit Website

M&T Bank

Toll Free
Visit Website

Mr. Cooper

Toll Free
Visit Website

RoundPoint Mortgage Servicing

Toll Free
Visit Website

Flagstar Bank

Toll Free
Visit Website


Toll Free
Visit Website

Shellpoint Mortgage Servicing

Toll Free
Visit Website

Webster Bank

Toll Free
Visit Website


Toll Free
Visit Website


Toll Free
Visit Website

I received a notice my homeowners insurance 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 reach out to us if you receive a notice that your insurance 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 bill 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 the 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 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 the calculation of your escrow payment.

The monthly escrow amount is added to the principal and interest portion of your payment to make up your total monthly mortgage amount. Escrow amounts may change from year to year 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 large shortage on the escrow balance should tax amounts and/or 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 that is handled by your new servicer.

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 a recast is complete.

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 origination of the loan 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 from servicer to servicer based on processes and interpretations. Your current servicer performs this evaluation and the processing of the request.

What is a recast?

A recast is the process of paying a large principal payment on your loan and re-amortizing the payments over the remaining term of the mortgage. This does not shorten the term or change the interest rate like 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.

  • Written request for a recast is required.
  • A minimum amount of $10,000.00 is required to be paid toward the outstanding principal balance.
  • A recast fee will be assessed, and this varies by servicer.
  • Loans cannot have had any prior modifications.
  • Loans cannot be delinquent on monthly payments.
  • Loans cannot be in an 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.

Please view this helpful video below for more information about a recast.

VIDEO: What is a Recast

Note: Some investor and loan guidelines may require up to the first three monthly payments to be made before becoming eligible for the recast process. Listed above are general guidelines. Specific requirements may vary depending upon the servicer and/or investor of your mortgage loan. For more information, feel free to contact us at

Decisions and requirements may vary from servicer to servicer based on processes and interpretations. Your current servicer performs this evaluation and the processing of the request.

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 prior to 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 current servicer 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.

For more information please contact our servicing department at

VIDEO: How to Remove Private Mortgage Insurance (PMI)

The ability to remove PMI is governed by federal law and investor requirements. An investor is the party who owns your mortgage loan. Examples of the top investors for Conventional loans are Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation). Decisions and requirements may vary from servicer to servicer based on processes and interpretations. Your current servicer performs this evaluation and the processing of the request.

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 is unable to subsequently change your new servicer. Your new servicer controls the activities and decisions supporting your mortgage loan. With written authorization (as per your new servicer’s requirements), Fairway may be an advocate for you if requested. Even if your servicing transfers, your relationship is important to each of us at Fairway.