How Fairway Mortgage Payments Work and Where to Send Them
Where and how to pay Fairway Mortgage
Fairway Independent Mortgage Corporation is a mortgage lender that originates loans but typically sells them to other servicers within weeks or months of closing. This means your payment instructions depend on who currently services your loan — not Fairway itself. You will receive a coupon book or payment instructions from your servicer when the loan closes, and that document tells you where to send your payment each month.
If you still owe Fairway directly (rare, and usually only in the first 30 to 60 days), the payment address appears on your closing disclosure and initial billing statement. Most commonly, your loan moves to a servicer like Fidelity, Ocwen, Rocket Mortgage, or another company, and you will receive new payment instructions in the mail. Do not assume your payment goes to Fairway after closing — check your first billing statement to confirm the servicer name and mailing address.
You can pay by check, automatic bank transfer (ACH), credit card, or online portal, depending on what your servicer accepts. Call the phone number on your billing statement to confirm payment methods before you set up automatic payments.
Key Takeaways
- Fairway originates mortgages but usually sells them to another servicer within weeks, so your payment goes to that servicer, not to Fairway.
- Your first billing statement tells you the servicer name, mailing address, and accepted payment methods — do not rely on Fairway's contact information after closing.
- You can pay by check, ACH transfer, credit card, or online portal depending on your servicer's options.
- Late payments are reported to credit bureaus after 30 days and can trigger foreclosure proceedings after 120 days of non-payment.
- If you fall behind, contact your servicer immediately — most offer forbearance, loan modification, or repayment plans before foreclosure begins.
How to find your current servicer and payment address
Your billing statement is the source of truth. Open the most recent statement you received in the mail or online, and look for the servicer name and mailing address in the payment section. If you cannot find a recent statement, log into your online account with Fairway or call their customer service line — they can tell you which company now services your loan and provide contact details.
You can also use the Mortgage Electronic Registration Systems (MERS) database to look up your servicer. Go to mers.org, use their servicer search tool, and enter your loan number or property address. MERS tracks who owns and services most mortgages in the United States, so this search usually returns current information within one to two business days of a servicer change.
Once you have the servicer name, call their customer service line to confirm the mailing address, online payment portal, and whether they accept ACH or credit card payments. Servicers change addresses and payment methods periodically, so verify before you mail a check or set up automatic payments.
Setting up automatic payments and avoiding late fees
Most servicers offer automatic ACH transfers from your bank account, which deduct your payment on the same day each month. To set this up, call your servicer's customer service line or log into their online portal and select the automatic payment option. You will need your bank account number and routing number. ACH transfers typically clear within one to two business days, so schedule the payment to leave your account at least three days before the due date to account for processing time.
Your payment is considered on time if it reaches the servicer by 11:59 p.m. on the due date shown on your statement. If you mail a check, allow at least five to seven business days for delivery. If you pay online or by phone, the payment usually posts the same day or the next business day. Late payments incur a fee (typically 4 to 6 percent of your monthly payment) and are reported to credit bureaus after 30 days of non-payment.
If you are unsure whether your payment arrived on time, log into your online account or call customer service to confirm the payment date and amount posted. Do not assume a mailed check cleared just because you sent it — servicers receive thousands of payments daily, and mail delays happen.
What happens if you miss a payment
Missing one payment triggers a late fee and a note on your credit report after 30 days. Your servicer will send you a notice in the mail reminding you of the amount due and the deadline to catch up. You still have time to pay without serious consequences at this stage.
If you miss two or three payments in a row (60 to 90 days of non-payment), your servicer will send a formal notice of default and may begin foreclosure proceedings. At this point, you owe not only the missed payments but also late fees, legal fees, and property inspection costs. Your credit score drops significantly, and the default appears on your credit report for seven years.
After 120 days of non-payment, foreclosure is usually underway, and your servicer may have already filed papers with the court. At this stage, your options narrow to loan modification, forbearance, or a short sale — all of which require immediate contact with your servicer.
Forbearance, loan modification, and repayment plans
If you cannot make your full payment, contact your servicer before you miss a payment. Most servicers offer forbearance, which temporarily reduces or pauses your payment for three to six months while you recover financially. After forbearance ends, you resume full payments, and the missed amount is usually added to the end of your loan or spread across the remaining payments.
A loan modification is a permanent change to your loan terms — lower interest rate, longer repayment period, or both — that reduces your monthly payment. Modifications take four to eight weeks to process and require proof of financial hardship. Your servicer will ask for recent pay stubs, tax returns, and a written explanation of why you cannot pay.
A repayment plan lets you add a portion of the missed payment to your regular payment each month until you catch up. For example, if you missed two payments of $1,500 each and your regular payment is $1,500, a repayment plan might add $500 to your payment for the next six months, bringing your total to $2,000 per month. This option works only if you can afford the higher payment and have not yet fallen 120 days behind.
Contact your servicer's loss mitigation or hardship department to discuss these options. Do not ignore payment notices or assume the problem will resolve itself — servicers are required to work with you if you reach out before foreclosure begins.
Understanding escrow and property taxes in your payment
Your Fairway mortgage payment likely includes more than just principal and interest. Most payments also include a portion for property taxes and homeowners insurance, held in an escrow account. Your servicer collects this money each month and pays your tax bill and insurance premium on your behalf when they are due.
Your servicer conducts an escrow analysis once a year to make sure the account has enough money to cover the coming year's taxes and insurance. If taxes or insurance rates rise, your monthly payment increases. If rates fall or you paid off part of your loan, your payment may decrease. You will receive a notice of escrow analysis in the mail explaining any payment change.
If your escrow account runs short (for example, if your property tax bill was higher than expected), your servicer may ask you to pay the shortage in a lump sum or spread it across your next 12 monthly payments. This is not a late fee or a penalty — it is a correction to ensure the account stays funded.
Frequently Asked Questions
Can I pay my Fairway mortgage directly to Fairway after closing?
No. Fairway sells most loans to another servicer within weeks of closing. Your first billing statement shows the servicer name and mailing address. Sending payment to Fairway after the loan is sold will delay your payment and may result in a late fee. Always pay the servicer listed on your current statement.
What if I cannot find my billing statement or servicer information?
Call Fairway's customer service line with your loan number or property address, and they will tell you which company services your loan. You can also search the MERS database at mers.org using your loan number or property address to find your current servicer.
Is there a penalty for paying my mortgage early or in full?
Most mortgages do not have prepayment penalties, but some do. Check your loan documents (promissory note or closing disclosure) for a prepayment penalty clause. If you have one, paying extra principal each month may trigger a fee. Call your servicer to confirm whether your loan allows early payment without penalty.
What if my payment is late because of a mail delay?
Mail delays do not erase late fees or credit reporting. If your check arrives after the due date, it is considered late regardless of when you mailed it. To avoid this, use ACH automatic payments or pay online through your servicer's portal, which post the same day or next business day. If you must mail a check, send it at least seven business days before the due date.
Can I change my payment due date?
Most servicers allow you to change your due date once per year. Call customer service or log into your online account to request a new due date. The change usually takes effect within one to two billing cycles. Changing your due date does not affect the total amount you owe — it only shifts when the payment is expected each month.