Fay Servicing, LLC

2019-01-16

Sebring, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: XX/XX/2019 CONSUMER FINANCIAL PROTECTION BUREAU UNITED STATES GOVERNMENT AGGRESSIVE MORTGAGE TACTICS DEAR SIR ( S ) MRS , MISS, I HAVE TRIED WITH TWO DIFFERENT ENTITIES TO TRY TO BRING MY HOME MORTGAGE TO A STANDARD LEVEL THAT I CAN AFFORD TO PAY. FIRST TIME FAY SERVICING LLC, XXXX, ILLINOIS SAID THEY WOULD WITH ME ON A MODIFICATION BUT THAT ENDED IN A REPAYMENT PLAN INSTEAD. FAY SERVICING LLC REQUIRE OF ME TO PAY FOR TWELVE MONTHS A SUM OF XXXX PER MONTH. THEN THEY WOULD CONSIDER A MODIFICATION. XXXX XXXX LAW FIRM THAT I AM USING WENT BACK TO FAY SERVICING LLC AND THIS TIME FAY SERVICING SUGGESTED ANOTHER REPAYMENT PLAN. IN IT FAY SERVICING SUGGESTED THAT I BEGIN PAYING XXXX PER MONTH. FAY SERVICING LLC NEVER GAVE ME A MODIFICATION!!! BEFORE THE REPAYMENT PLANS I HAD TO PAY XXXX PER MONTH. HOW CAN THEY POSSIBLY THINK ABOUT FORECLOSURE????! HOW CAN XXXX XXXX LAW FIRM THAT I PAY TO HELP ME ALLOW ME TO BE SO AGGRESSIVELY DEALT WITH????! THANK YOU, BEST REGARDS, XXXX ( XXXX ) XXXX XXXX XXXX XXXX XXXX
Company Response: Closed with explanation

Timely Response

2019-01-16

Greenwood, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Please make this a rush as I have a sale scheduled for my property on XX/XX/2019 and Im under a loan modification review. They have not removed the. I sent Fay Servicing a new request for mortgage assistance packet, they advised me they have a full one and its in review but nothing is happening. Hi, my name is XXXX XXXX. I have some very bad issues going on right now with my servicer FAY SERVICING , LLC Investor XXXX XXXX XXXX XXXX. and about my previous banks. I'm having a very hard time dealing and working with my servicer FAY SERVICING , LLC. I have mailed and faxed over all documents for a loan modification but they are still proceeding with the foreclosure sale scheduled for XX/XX/2019. If they proceed with the sale they will be in violation of the CALIFORNIA HOMEOWNERS BILL OF RIGHTS and other laws as well. When I opened my loan from XXXX XXXX XXXX my monthly payment was {$1300.00}. I couldnt pay them anymore due to my divorce my husband left me and left me in the waters. I applied for a Loan Modification and they told me to make some trial period payments of {$1500.00}. I paid all three times for the three months, on time. After the payments were done they transferred me to XXXX XXXX XXXX. I had the same story with them, they asked for trial period payments and so I had no other choice I paid {$1900.00} for three months, on time. XXXX XXXX XXXX transferred me to Fay Servicing , LLC who is now my current servicer. I paid a total of around {$10000.00}. I understand Fay Servicing is saying they do not see my TRIAL PAYMENTS that I have made to all previous servicers and banks in their payments histories but that was their plan all along to not input all payments made towards the TRIAL PAYMENTS so that there would not be any record of my payments being made and no way to track them. I know I made payments and I have paid way too much into someone elses pocket just for my loan to be transferred to the next servicer to get the same thing happen over and over again. I make a TRIAL PAYMENT I get no receipt of that, I get told that all is ok and next thing I know im transferred to another servicer and redoing the process all over again, sending them Request for Mortgage Assistance, all my documents and forms, then getting pre-approved for a loan modification but before it can get finalized I have to make 3 TRIAL PERIOD PAYMENTS which now seems that no one has record of these payments being made and once I make the 3 payments ( someone got a good bonus from my payments before transferring me to another servicer ) and next thing I know my loan is with another servicer. This now puzzles me that Fay Servicing is saying they have no record in the payment histories of the payments being made. Where did the payments go to? Who received the payments? Did the payments actually do towards my TRIAL PERIOD PAYMENTS? Did someone at all the banks and servicers receive a good bonus? Did the banks and servicers themselves receive these payments but did not document them in the payment histories? All of these questions puzzle me and have me thinking that there is a lot of fraud going on with banks and servicers together to try to milk out as much TRIAL PAYMENTS from borrowers as possible. I now have a foreclosure sale for XX/XX/2019. I have sent them all documents but they still have not offered me anything. I have sent them documents again. I dont want them to ask for a trial period payment and then transfer me to another servicer and then go through the same thing the banks have been doing to me twice. I dont even know if those trial period payments I have paid when towards anything like my loan or did they just take it. I want to keep my home and pay a reasonable amount. I have a sale coming up on XX/XX/2019.
Company Response: Closed with explanation

Timely Response

2019-01-16

Ridley Park, PA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have filed for a modification with Fay Servicing. They denied saying my investor only allows one modification-but they will not give me a copy of investors rules. They also said i dont make enough for a repayment which is incorrect. I am 80 days behind and I told them I could pay 2 months on XX/XX/XXXX and 2 months on XX/XX/XXXX. You would think they could work with us and in the meantime on XX/XX/XXXX they took one payment and every month i have paid one payment until I figured this out. I have consistently showed an effort. The only thing they offered is a deed-in-lieu which i am denying because I can get caught up. I appealed the deed in lieu and nothing changed. and my last resort will be bankruptcy.This is a terrible servicer and if I file bankruptcy, they will wait 5 years for the money. This makes no sense. I
Company Response: Closed with explanation

Timely Response

2019-01-14

San Francisco, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My mortgage was previously with XXXX XXXX XXXX wherein I complained about the misapplication of my mortgage payments. See complaint # XXXX-XXXX and XXXX-XXXX. My loan was transferred to Fay servicing after XXXX XXXX stated they had sold my loan to XXXX XXXX and they washed their hands of the entire situation without answering any questions. Fay servicing was contacted about the loan, however, initially could not locate it, then finally after filing a lawsuit against Fay and XXXX XXXX regarding the upcoming foreclosure a requested reinstatement from Fay Servicing and received one and also XXXX XXXX XXXX which called for them to paid also. The borrower is being asked between the both of them for {$76000.00}, on a reinstatement figure which is no more than a little over 38K. The borrower account has been mishandled in every way, XXXX XXXX wants it both ways, and Fay servicing does not know who's on first. Both reinstatement figures differ, moreover, the Trustee is at question here XXXX XXXX who has requested payment for XXXX XXXX the entire time, how then are they taking the place for Fay Servicing, XXXX XXXX and now Fay Servicing is introducing, XXXX XXXX, XXXX XXXX as Legal Title Trustee for the XXXX XXXX XXXX XXXX XXXX.
Company Response: Closed with explanation

Timely Response

2019-01-12

KY

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: O/n XX/XX/2618 I contacted Fay Servicing by email to follow up on the payment deferment request my wife made on by phone a few days before. I did not receive a reply from them until XX/XX/18 after I filed a complaint with CFPB on XX/XX/18. On XX/XX/18 my wife and I submitted the application for deferment with all required documents explaining our financial hardship situation. After two months, we received a letter dated XX/XX/18 from Fay Servicing stating : " ... unfortunately you are not eligible for an alternative to foreclosure. Our review indicates that, although you may have a hardship, you do not qualify for any available loss mitigation options ''. However, Fay Servicing did not explain in the letter why we are not eligible for payment deferment, even though we may have a hardship.
Company Response: Closed with explanation

Timely Response

2019-01-11

Saint Clair, MO

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: I filed a remodification back in XX/XX/XXXX with XXXX XXXX XXXX my payment was $XXXX, everything from principal,interest and escrow was rolled back into the loan.I paid 5 payments of this amount. Then XXXX XXXX XXXX sold my loan to Fay Servicing based out of XXXX Illinois, I paid 3 payments to them, on XX/XX/XXXX they raised my payment upto $XXXX,they it was because my escrow account was behind. I can understand a few dollars behind they raised my payment $XXXX a month. So I asked for proof took them forever to give it to me, but still made no since how I could be behind . I tried to do a remodification with Fay Servicing, I sent the remodification pack to one case manger,they then assign to a new case manger he couldn't find my papers,so I had to sent it again. This happen 4 times, I hired The XXXX XXXX XXXX, they were helping,but it didn't work out with them. My Foreclosure date was XX/XX/XXXX I did get a email from a case manger from Fay Servicing saying they finally got all the paper 2 weeks before that and Foreclosed anyway. I hired XXXX XXXX, he help me stay in the house until XX/XX/XXXX, that when Fay servicing lawyer, XXXX had all of my stuff put on the street. I filed Civil suit but XXXX bullied into dropping it or they would sue me for $XXXX in back rent. So I drop,then I found out about this law suit against Fay Servicing. My lawyer said I cant sue them twice, Fay Servicing fraudulenly stole my house. The last case manger I had was XXXX XXXX,he said he had everything he need to review my case, but as to know surprise,when I called for him,they said he no longer work here
Company Response: Closed with explanation

Timely Response

2019-01-11

Somers Point, NJ

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Our mortgage loan was sold from XXXX to Fay Servicing in XX/XX/XXXX Since the turnover, Fay Servicing provided me with a loan officer but she rarely returns my phone calls and they keep demanding double mortgage payments and I can not afford double payments. I also have not received a mortgage statement for XX/XX/XXXX or XX/XX/XXXX. Even the Mangement will not return my phone calls. All they do is send certified letters for intent to foreclose. We have lived in our home for 20 years. Have had rough financial times and have always worked it out. I feel that Fay servicing just wants us out. Please help.
Company Response: Closed with explanation

Timely Response

2019-01-11

Philadelphia, PA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have written several RESPA letters to my loan servicing company : Fay Servicing. At first, they sent me a letter acknowledging the first letter is sent, few weeks after, I received a package letter from they lawyers, that was the incorrect response to my first RESPA letter. I sent 5 more RESPA letters since then, they again acknowledge one or I should say they they sent me one acknowledgment letter ... that is it.. up today ( XX/XX/XXXX ) did not get any responses. -First RESPA sent : XX/XX/XXXX. They got it XX/XX/XXXX - letter of acknowledgment : XX/XX/XXXX- incorrect responses : XX/XX/XXXX - second letter sent : XX/XX/XXXX-acknowledgment XX/XX/XXXX- respond date : none - letter # 3 & 4 : send XX/XX/XXXX : acknowledgment : none- responses : none - letter # 5 & 6 : sentXX/XX/XXXX. No acknowledgement- responses : none I have 3 more letter I wanted to send to them. Will send them the week of XX/XX/XXXX. I need those responses in order to make the best decision to keep my apartment. I offer them to negotiate the rear of my mortgage, they dont want to negotiate.
Company Response: Closed with explanation

Timely Response

2019-01-11

NY

Attempts to collect debt not owed

Debt collection: Mortgage debt

Debt was already discharged in bankruptcy and is no longer owed
Complaint: Fay servicing took over my loan XX/XX/2018 from XXXX ever since day one i had a problem..fay servicing hold all my payments in a suspended account at the same time calling me saying i behind in payments ... XXXX told me to send XX/XX/2018 payment to them and XXXX would transfer the money to fay servicing ... .XXXX never transfered the money XXXX XXXX at fay servicing told me dont worry she will retrieve the XX/XX/XXXX payment from XXXX ... .XX/XX/XXXX fay servicing calls me saying i amXXXX behind in payments fay servicing was holding my payments in a suspended account and harassing me at the same time about the same payments i made..fay servicing told me escrow was low because my taxes went but this is a lie.then fay servicing told me i was behind in escrowXXXX dollars and have to raise my payments XXXX..The XXXX was forgiving by XXXX XXXX during the modification negotiations and finalize in XX/XX/2018. Now XXXX and fay servicing are running a scam manipulating the amount of principal owed and fake escrow shortage i am XXXX the reason i had to modify and believe this is discrimination not to honor contract and manufacture problems to change the terms of my modification ...
Company Response: Closed with explanation

Timely Response

2019-01-11

Discovery Bay, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: This complaint is in regard to XXXX XXXX selling my home loan to Fay servicing in the scenario of being 90 days late. This complaint pertains to a mix up on payment routing, which resulted in fay servicing misconstruing my account as being past 120 days late refusing my payment and putting me into pre foreclosure. As a result, I have to cure the loan or face the foreclosure process. A STATEMENT FROM THE XXXX NOTICE OF SELLING THE LOAN : If your payment is inadvertently sent to use after the transfer date, there are measures in place to help you. For the first 60 days following the loan servicing transfer date : * Payments received by XXXX XXXX will be forwarded to the new servicer or returned to you requesting that you send it to the new borrower. * A loan payment received by your old servicer on or before it's due date may not be treated by the new servicer at late, and a late fee may not be imposed on you. Before this loan transfer to place, I was 90-120 days late with XXXX XXXX but never past 120 days late. XXXX was not in the process of accelerating the foreclosure process on me. But, there was a mix up in the payment during the servicing transfer period that was related to the excerpt above and I found myself in pre foreclosure status with the new servicer/loan owner. . Between XX/XX/XXXX and XX/XX/XXXX I became between 90 and 120 days late due to the fact that I am working on a return to a previous career and I spend a lot of time learning new XXXX. I spend much of my time lXXXX XXXX XXXX and looking for a XXXX XXXX XXXX career I work as an XXXX XXXX to support myself through this skill updating and job hunting period. From my research of foreclosure in California, I was under the impression that most mortgage companies do not accelerate the foreclosure process before 120 days late. I thought of it as if I get past 120 days, Im in big trouble. That was the focus, do what it takes to simultaneously study, look for a software engineering job and avoid falling 120 days behind on the mortgage. From XX/XX/XXXX through XX/XX/XXXX with XXXX XXXX, I would call on day 90 of being late and schedule a payment before day 120 or for the end of the month. My XXXX XXXX mortgage statements would mention that Im behind but, they have not started foreclosure proceedings. I figured that in the scenario of them saying no that I would cease my other work of studying and looking for a software engineer job and ONLY work to cure the delinquency. But, fortunately each time they would accept the payment and ask if I was interested in going through the review process to see if XXXX could help with a modification so I would not be 90 days past due. They would also recommend calls to places like HUD and the Hardest hit fund. I tried to get a modification with XXXX ~XXXX or XXXX of XX/XX/XXXX. I was told no, dont make enough. But, they said that since I did apply and I was in the 90 day late category that they would not accelerate the foreclosure process and they wished me luck in getting the job I wanted. My financial situation is the same as then is why I dont try. Perhaps I should have, they said there were new programs. Though I was typically 90-120 days late with XXXX XXXX for a while, they would still accept my payment when I would call on day 90 to schedule a payment to avoid going past 120 days late. Perhaps I could have achieved the same thing for this scenario if I simply called and made the payment ~day 120 it would have been the same affect. But, I wanted to show good faith. I let them know what I was working on. It turns out that if I went the route of simply calling ~ day 120 that I would have prevented this. So, on XX/XX/XXXX, at 90 days late, I scheduled a payment with XXXX XXXX to draft on XX/XX/XXXX. Then the trouble started. On XX/XX/XXXX, I received a letter from XXXX in regard to selling the loan to Fay servicing. It said the transfer date is XX/XX/XXXX, call XXXX and Fay before the XXXX and call fay on or after XX/XX/XXXX. There were instructions of what to do for the next payment. There was information stating that if a mix up happens during this period there is a 60 day protection period. The confusion initiated for me due to the fact that I had already scheduled a payment to XXXX XXXX for XX/XX/XXXX. Having a payment scheduled with XXXX XXXX for Nov 30 and Fay taking the Loan on XX/XX/XXXX is the catalyst to getting in this situation. Here is a chronological account of what happened between XX/XX/XXXX and XX/XX/XXXX : XX/XX/XXXX : As in the previous 10 months, I called XXXX XXXX to SCHEDULE a payment though I was 90 days past due. As in the previous 10 months payment of {$2000.00} was scheduled and accepted, no acceleration initiated. Week of XX/XX/XXXX through XX/XX/XXXX : I received a notice from XXXX XXXX in regard to the transfer dated XX/XX/XXXX. It was 3 pages. It said things such as XX/XX/XXXX Fay will take the loan, and XXXX wont service after that. It also said that if you dont receive instructions by next payment send to and it printed the address to Fay. It said if your payment is inadvertently sent to us after the transfer date, there are measures in place to help you for 60 days. It said to contact XXXX before the XX/XX/XXXX. I got a XXXX notice that had fay in the heading. I called both, XXXX and Fay for more information. I told XXXX, that I got these documents about a sale. They said it was typical, dont worry. I dont remember if I asked about the scheduled payment or in a subsequent call. I also called Fay, the call was a bit confusing I think I was barely in the system but they mentioned that they get the loan on the XX/XX/XXXX There was some confusion in regard to when to start paying fay in the scenario of this caveat of having a payment scheduled with XXXX. I called XXXX back with regard to the sale date and asked about the timing of the scheduled payment and the date with fay taking over. I asked if I things would work with the way it was scheduled or if I should cancel the payment and wait until the transfer and pay fay. The person put me on hold, them came back and said that since I scheduled the payment on XX/XX/XXXX and they accepted the payment before the XXXX, that what would happen would be that they would draft it on the XXXX, THEN pass the loan to Fay with the account credited accordingly. I admit, I was very nervous about something messing up. The instructions from XXXX was wait, let the scheduled payment take place, then deal with Fay going forward. XX/XX/XXXX through XX/XX/XXXX : I checked my bank account on Monday XX/XX/XXXXand noticed the payment was not taken which is normal due to the fact that it takes a couple business days for me to see the payment deducted. But, on Wednesday XX/XX/XXXX, I get a voicemail from the account manager from Fay. I phoned back. He introduced himself and told me about the company etc. I mentioned that I had a payment scheduled with XXXX but they did not take it. We talked a bit about processes etc. He mentioned that XXXX did not did not take the payment due to the fact that they did not own it after XX/XX/XXXX. When I called XXXX this time, they agreed, they said they did not take the payment since they did not own the loan afterXX/XX/XXXX. I told them of my previous conversation with a XXXX rep and them mentioning just leave the payment scheduled allow XXXX to take the payment, then XXXX would forward. They mentioned that the rep may have made a mistake. The fay person and I had some discussion about how I became late on the mortgage. I also explained how I was making payments just before becoming 120 days past due. After that, I said ok, Ill make the payment that I scheduled for XX/XX/XXXX now. The date was XX/XX/XXXX. He said no, youre at 5 months behind and we are NOT going to accept your payment!. I said what? I have never been at 5 months until this transfer and the payment confusion. He said fay would not accept. He said the new lender will NOT let you run 90-120 days late. He said that the lenders were in the business of having things straight and making money. He said I have to apply for mitigation and if I cant afford the home do something else. I had not received much documentation from fay, I received no payment instructions from fay by XX/XX/XXXX, and I received no information package from fay at this point. Only thing I got from them was the XXXX notice. I was instructed to go to the fay website, fill out the borrow assistance form and hope that fay would find a solution. ~XX/XX/XXXX I get a letter from the account manager with the heading ; re acknowledgement of incomplete loss mitigation application The letter was dated XX/XX/XXXX This was weird, I had not received the initial info package from Fay, I had not yet received any other docs. The letter said it was in response to a recent discussion with your account manager for a request for loss mitigation. I dont recall officially asking for this. Again it was weird I took it as a way of getting me to expedite sending in the mortgage assistance application. The letter said to send the docs in by XX/XX/XXXX ** ~XX/XX/XXXX I get an introduction package from fay . ~ XX/XX/XXXX I turned in the loss mitigation application ~XX/XX/XXXX I get a letter from fay dated XX/XX/XXXX. It was an acknowledgement of complete loss mitigation application It said we got your application on the XXXX and you will get a response within 30 days and a bunch of other stuff. The letter mentioned that fay could not start with acceleration while under review. ~XX/XX/XXXX I got a mortgage statement from fay ~ XX/XX/XXXX I got certified letters. One was a notice of default and intent to accelerate It had an amount to pay to cure the loan or else foreclosure. The cure date is by XX/XX/XXXX. I also got a letter saying apply for help. I called fay, I could not get to my account manager but I spoke with someone else. I said, Im confused why the nasty letter if Im under review? He said, its true your account is under review and there is no NOD. It must have been automatically generated it may have been a mistake. XX/XX/XXXX Of course, I get a letter stating that I did not qualify for any loss mitigation options. It said that as of XX/XX/XXXX that I owe XXXX to bring the loan current. It said its important to pay as ASAP. It said if youre unable to pay, we may pursue foreclosure. Then there were two more pages. It also mentioned that I have 2 weeks to appeal the decision from the date of the letter. It said that if they decline then there are no further reviews. XX/XX/XXXX I called the account manager from fay. He said a primary reason that you were not offered a trail is due to the fact that it appeared to the underwriters that you don't have enough assets to make a good faith initial payment. He said he did not believe that it was due to the household income .vs the XXXX mortgage payment. Talked to XXXX with regard to the " measures in place to help with inadvertent payment.. '' clause. I was not able to get too much out of this. They said they understood, but were not able to do anything since fay earns it post transfer date which is confusing due to the fact that the statement says there are measures in place to help when a payment is misappropriated for 60 days even after the transfer. END OF CHRONOLOGICAL ACCOUNT : The complaint is that fay did not have any interest in evaluating the payment mix up. The just went directly to the assuming I was 120 days late and would not accept the payment. My complaint is that in this scenario, on the 8th day of fay owning the mortgage that they threw me into pre-foreclosure. Perhaps I should have discussed the grace period that XXXX mentioned in a letter in instances of mix ups first. Perhaps I should have assumed that fay was not aware that XXXX addresses possible mix ups and not getting credited accordingly. I think fay should have understood that it was a mix up and accepted my payment which would have put me at 95 days late .vs 125 days and not thrown me into pre-foreclosure. Things I could have done to avoid this with the exception of getting behind in the first place : Comprehended the documents accordingly though I had a payment scheduled for the XXXX with XXXX XXXX. Perhaps this would have been avoided if I understood, canceled the payment schedule with XXXX then called fay on XX/XX/XXXX and payed them. But again, when speaking with the representative, the mentioned that I had it set up would be ok. Perhaps I should of inquired with XXXX immediately on XX/XX/XXXX with regard to the grace period as it pertains to mix ups like this with payment crediting and timing that can occur during a sales transfer. Questions : The mortgage was sold XX/XX/XXXX, why did XXXX NOT tell me this when I called on XX/XX/XXXX to schedule a payment for XX/XX/XXXX? Why didnt they tell me dont bother scheduling this one, the loans transfer date is XX/XX/XXXX. Just wait and pay them on the XXXX and deal with the new servicer? Why did XXXX XXXX NOT tell me to cancel the scheduled payment and pay fay on the XXXX when I called them after I learned of the sale and initial contact with fay the week of XXXX XXXX? What happens if servicing policies are different between the old servicer and the new servicer? When a servicer buys a California originated mortgage in another state, does the state in which the loan was originated still apply? For example the California 120 day rule. Why was fay not aware that there is a grace period for mistakes and confusion like this? Why was fay not willing to accept the payment in this scenario of where there can clearly be mix ups during a sensitive transfer/sale like this? Why didnt I get specific payment and timing information from fay before the XXXX? BOTTOM LINE OF THE COMPLAINT : If fay would have honored or been aware of the 60 day grace period with regard to misappropriated payment, I would not be in this situation today. If they honored that, they would have accepted my payment. If XXXX would have specifically told or advised me to skip my scheduled payment with them and pay fay on the XXXX this may have been prevented. If there were not holes in the process, I would have never gotten 120 days behind. If the loan was not sold I would not have gotten 120 days behind. If fay would have understood that errors were possible in this scenario they would not have refused payment and thrown me into pre foreclosure. The entire process was fast, confusing left little room for error which caused this for me. I was successfully operating on the 120 day rule with XXXX XXXX. With this sale, I found myself in the pre foreclosure pool unjustifiably. An irony is that I dont have trouble making the MONTHLY payment as of now. I would be a challenge to pay 2 or 3 payments, but its achievable. It would be a little bit of a challenge to have brought the XXXX current but it was achievable. I was prepared to deal with XXXX XXXX making a demand, but I was not prepared to have XXXX sell the loan and get into pre-foreclosure due to a glitch. Or perhaps different servicing rules.
Company Response: Closed with explanation

Timely Response

2019-01-04

Phoenix, AZ

Charged fees or interest you didn't expect

Payday loan, title loan, or personal loan: Personal line of credit

Company Response: Closed with explanation

Timely Response

2019-01-03

Irvine, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-12-31

Chicago, IL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: In XX/XX/XXXX/XX/XX/2018, I was notified that my loan was transferred from XXXX XXXX XXXX to Fay Servicing. I was told all conditions, payments etc would remain the same. After paying 3 months at my regular payment amount of {$1700.00} during the transition period, the new provider suddenly goes up {$120.00}, now requiring a new monthly payment of {$1800.00}. This was NEVER discussed or disclosed during the loan acquisition process. When I called Fay to discuss, they said my escrow account was all of sudden " short ''. They then said it was outlined in an escrow analysis which I NEVER received. When I asked to please have it sent to me, I again NEVER received it. I tried again to call for additional information and the agents were no helpful AT ALL. Now to maintain my excellent payment history and credit, I am FORCE to pay an additional {$120.00} per month, that was not disclosed or explained properly. I feel whatever escrow shortage there may be should be worked with the previous lender that bought the loan from which was XXXX XXXX XXXX. They simply sent me a new bill with a new amount.
Company Response: Closed with explanation

Timely Response

2018-12-30

Frostburg, MD

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-12-24

WA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Please make this a RUSH I have sale scheduled for my property on Friday XX/XX/XXXX and Im under a loan modification review. 1st Bank : XXXX XXXX XXXXXXXX they proposed me monthly 3 time trial period payment of {$1700.00}. I was very excited for this and was ready to pay my monthly mortgage to keep my home. After I made those trial payments XXXX XXXX XXXX transferred my loan to a company called XXXX. 2nd Bank : XXXX started a foreclosure process on my home right away. I was very surprised they did that as I was under a loan modification and have already paid the trial period payments in total of {$5100.00} for the three months time to the previous bank, XXXX XXXX XXXX I then contacted them asking why they said you are past due for a long time and we will sell your home. They told me I could apply for loan modification and maybe I can be reviewed. After a couple of months sending them all requested documents I have finally approved for a loan modification. They offered me another 3 month trial period payment in the amount of {$2400.00}. I was very shocked to see that the amount went up from the previous offer I received from XXXX XXXX XXXX. I was very unhappy to the increase in the payment but I had no other option because XXXX said if I did not pay and agree to this amount they will foreclosure on my home. So I paid the 3 months trial period payments in total amount of {$7400.00}. And once again after paying I got transferred to another servicer Fay Servicing, who is doing the exactly the same thing. 3rd Bank ; Fay Servicing is my current company now. Same story as with the other banks. I have to redo the loan modification process all over again. I have submitted all documents to them but they still have me under foreclosure which is set for XX/XX/XXXX, XX/XX/XXXX. I just do not want to be on the streets with my family. Ive paid out of pocket 2 times already to XXXX XXXX XXXX and XXXX in total of {$12000.00}. I dont want to pay out of pocket again just to be scammed for my money that does not go towards anything. I have given Fay Servicing all required documentation and they have agreed that they have a complete RMA packet they have sent my RMA packet to underwriters for review but the sale is still scheduled. Fay Servicing will be in violation of the Homeowners Bill of Rights Act if they proceed with the sale. As part of this bailout, on XX/XX/XXXX, the United States Government took over XXXX XXXX and pumped billions, which in XX/XX/XXXX, then Treasury Secretary XXXX XXXX said as much as {$200.00} billion would be pumped into XXXX XXXX and XXXX XXXX, each, which was separate from the {$700.00} in TARP funds given out to other lenders. 1. The guidelines issued by the United States Treasury set forth a detailed process whereby a participating servicer, either action or not acting through its subsidiary, must : a. identify loans that are subject to modification under the HAMP program, both through its own review and in response to requests for modification from individual homeowners ; b. collect financial and other personal information from the homeowners to evaluate whether the homeowner is eligible for a loan modification under HAMP ; c. institute a modified loan with a reduced payment amount as per a mandated formula, that is effective for a three-month trial period for borrowers that are eligible for a modification ; and d. provide a permanently modified loan to those homeowners who comply with the requirements during the trial period. Whether the homeowner qualifies for a modification or not, participating servicers are also required to provide written notices to every mortgage borrower that has been evaluated for a loan modification, whether or not the borrower has been found eligible. H AMP and its associated directives also set prohibitions against certain conduct including demanding upfront payments in order to be evaluated for a loan modification, instituting or continuing foreclosures while a borrower is being evaluated for a loan modification, assigning a single point of contact, maintaining an adequate level communication with borrowers, maintaining proper caseload to ensure HAMP objections are met, and restrictions on the way a servicer may report the borrower to credit reporting agencies. All servicers have systematically failed to comply with the terms of the HAMP directives and has regularly and repeatedly violated several of its prohibitions. Now that HAMP is over and expired due to servicers prolonging these modifications they are now proceeding with other alternatives. Under HAMP, the federal government incentivizes participating servicers to make adjustments to existing mortgage obligations in order to make the monthly payments more affordable. Servicers receive at least {$1000.00} for each HAMP modification. However, this incentive is countered by a number of financial factors that make it more profitable for a mortgage servicer avoid modification and to continue to keep a mortgage in a state of default or distress and to push loans toward foreclosure. This is especially true in cases where the mortgage is owned by a third-party investor and is merely serviced by the servicer. However, this incentive is countered by a number of financial factors that make it more profitable for a mortgage servicer such as Fay Servicing , LLC to avoid modification and to continue to keep a mortgage in a state of default or distress and to push loans toward foreclosure. This is especially true in cases where the mortgage is owned by a third-party investor and is merely serviced by Service companies because Service companies do not carry a significant risk of loss in the event of foreclosure. California Business and Professions Code 17200 et seq., also known as the California Unfair Competition Law ( UCL ), prohibits acts of unfair competition, including any unlawful, unfair, or deceptive business act or practice as well as unfair, deceptive, untrue or misleading advertising. Fay Servicing and all other previous servicers and their Investors conduct was unlawful in that : They illegally began and prosecuted the non-judicial foreclosure based on the lien to the 1st Deed of Trust, despite i was not in breach of payments on said lien ; They engaged in the uniform practice of requesting unnecessary documentation, seeking repetitive submissions of the same documents, and never rendering a decision, and in doing so, such activity provides the basis for an unfair inquiry and could deceive the public because it places burdensome requirements on me hat served no purpose but to provide a basis for either engaging in Dual Tracking by selling my home and by denying loss mitigation options, such as loan modifications ; They failed to properly consider loan modification applications before trying to sell my home. 1. On information and belief, Fay Servicing , LLC does not own a significant majority of the loans on which it functions as servicer. 2. Economic Factors that discourage Fay Servicing , LLC from meeting its obligations under HAMP by facilitating loan modifications include the following : a. Fay Servicing , LLC may be required to repurchase loans from the investor in order to permanently modify the loan. This presents a substantial cost and loss of revenue that can be avoided by keeping the loan in a state of temporary modification or lingering default. b. The monthly service fee that Fay Servicing , LLC, as the servicer, collects as to each loan it services in a pool of loans, is calculated as a fixed percentage of the unpaid principal balance of the loans in the pool. Consequently, the modifying of a loan to reduce the principal balance results in a lower monthly fee to the servicer. c. Fees that Fay Servicing , LLC charges borrowers that are in default constitute a significant source of revenue to it. Aside from income Fay Servicing , LLC directly receives, late fees and process management fees are often added to the principal loan amount thereby increasing the unpaid balance in a pool of loans and increasing the amount of the servicers monthly service fee. d. Entering into a permanent modification will often delay a servicers ability to recover advances it is required to make to investors of the unpaid principal and interest payment of a non-performing loan. The servicers right to recover expenses from an investor in a loan modification, rather than a foreclosure, is often less clear and less generous. e. Fixed overhead costs involved in successfully performing loan modifications involve up-front costs to the servicer for additional staffing, physical infrastructure, and expenses such as property valuation, credit reports and financing costs. 3. Rather than allocating adequate resources and working diligently to reduce the number of loans in danger of default by establishing permanent modifications, Fay Servicing , LLC has serially strung out, delayed, and otherwise hindered the modification processes that it contractually undertook to facilitate when it accepted billions of dollars from the United States. Fay Servicing , LLC delay and obstruction tactics have taken various forms with the common result that my loan serviced by Fay Servicing , LLC, in which im eligible for permanent loan modifications, and have met the requirements for participation in HAMP, have not received permanent loan modifications to which iam entitled. 4. By failing to comply with the California Homeowner Bill of Rights ; specifically, by engaging in the unlawful practice of Dual Tracking, Fay Servicing , LLC has left me in a state of despair and panic as I seek a loan modification from Fay Servicing , LLC, only to have my home wrongfully, oppressively and illegally sold out from under my feet.
Company Response: Closed with explanation

Timely Response

2018-12-21

Hinsdale, IL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Fay Servicing LLC improperly applied thirteen ( 13 ) payments made to them during my Trial Payment Plan and subsequent HAMP modification from the period of XX/XX/XXXX to XX/XX/XXXX. Eleven ( 11 ) of the payments included additional principal, but the additional funds were not applied to principal. Fay Servicing stated that the additional payments were applied to past due amounts from XXXX and XXXX, during which time they were not my mortgage servicer - and my home was in litigation for foreclosure. Due to the misappropriation of my funds and accounting reversals and late applications of payments on my account, my account balance due has never been correct, resulting in a higher balance and additional interest that I should not be responsible for.
Company Response: Closed with explanation

Timely Response

2018-12-19

Greenwood, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Please make this a rush as I have a sale scheduled for my property on Monday XX/XX/XXXX and Im under a loan modification review. They have not removed the sale nor letting me know if they will remove. I sent Fay Servicing a new request for mortgage assistance packet, they advised me they have a full one and its in review but nothing is happening. Hi, my name is XXXX XXXX. I have some very bad issues going on right now with my servicer FAY SERVICING , LLC Investor XXXX XXXX-Through Trust VI. and about my previous banks. I'm having a very hard time dealing and working with my servicer FAY SERVICING , LLC. I have mailed and faxed over all documents for a loan modification but they are still proceeding with the foreclosure sale scheduled for XX/XX/XXXX. If they proceed with the sale they will be in violation of the CALIFORNIA HOMEOWNERS BILL OF RIGHTS and other laws as well. As part of this bailout, on XX/XX/XXXX, the United States Government took over XXXX XXXX and pumped billions, which in XX/XX/XXXX, then Treasury Secretary XXXX XXXX said as much as {$200.00} XXXX would be pumped into XXXX XXXX and XXXX XXXX, each, which was separate from the {$700.00} in TARP funds given out to other lenders. 1. The guidelines issued by the United States Treasury set forth a detailed process whereby a participating servicer, either action or not acting through its subsidiary, must : a. identify loans that are subject to modification under the HAMP program, both through its own review and in response to requests for modification from individual homeowners ; b. collect financial and other personal information from the homeowners to evaluate whether the homeowner is eligible for a loan modification under HAMP ; c. institute a modified loan with a reduced payment amount as per a mandated formula, that is effective for a three-month trial period for borrowers that are eligible for a modification ; and d. provide a permanently modified loan to those homeowners who comply with the requirements during the trial period. Whether the homeowner qualifies for a modification or not, participating servicers are also required to provide written notices to every mortgage borrower that has been evaluated for a loan modification, whether or not the borrower has been found eligible. HAMP and its associated directives also set prohibitions against certain conduct including demanding upfront payments in order to be evaluated for a loan modification, instituting or continuing foreclosures while a borrower is being evaluated for a loan modification, assigning a single point of contact, maintaining an adequate level communication with borrowers, maintaining proper caseload to ensure HAMP objections are met, and restrictions on the way a servicer may report the borrower to credit reporting agencies. All servicers have systematically failed to comply with the terms of the HAMP directives and has regularly and repeatedly violated several of its prohibitions. Now that HAMP is over and expired due to servicers prolonging these modifications they are now proceeding with other alternatives. Under HAMP, the federal government incentivizes participating servicers to make adjustments to existing mortgage obligations in order to make the monthly payments more affordable. Servicers receive at least {$1000.00} for each HAMP modification. However, this incentive is countered by a number of financial factors that make it more profitable for a mortgage servicer avoid modification and to continue to keep a mortgage in a state of default or distress and to push loans toward foreclosure. This is especially true in cases where the mortgage is owned by a third-party investor and is merely serviced by the servicer. However, this incentive is countered by a number of financial factors that make it more profitable for a mortgage servicer such as Fay Servicing , LLC to avoid modification and to continue to keep a mortgage in a state of default or distress and to push loans toward foreclosure. This is especially true in cases where the mortgage is owned by a third-party investor and is merely serviced by Service companies because Service companies do not carry a significant risk of loss in the event of foreclosure. California Business and Professions Code 17200 et seq., also known as the California Unfair Competition Law ( UCL ), prohibits acts of unfair competition, including any unlawful, unfair, or deceptive business act or practice as well as unfair, deceptive, untrue or misleading advertising. XXXX XXXX and all other previous servicers and their Investors conduct was unlawful in that : They illegally began and prosecuted the non-judicial foreclosure based on the lien to the 1st Deed of Trust, despite i was not in breach of payments on said lien ; They engaged in the uniform practice of requesting unnecessary documentation, seeking repetitive submissions of the same documents, and never rendering a decision, and in doing so, such activity provides the basis for an unfair inquiry and could deceive the public because it places burdensome requirements on me hat served no purpose but to provide a basis for either engaging in Dual Tracking by selling my home and by denying loss mitigation options, such as loan modifications ; They failed to properly consider loan modification applications before trying to sell my home. 1. On information and belief, Fay Servicing , LLC does not own a significant majority of the loans on which it functions as servicer. 2. Economic Factors that discourage Fay Servicing , LLC from meeting its obligations under HAMP by facilitating loan modifications include the following : a. Fay Servicing , LLC may be required to repurchase loans from the investor in order to permanently modify the loan. This presents a substantial cost and loss of revenue that can be avoided by keeping the loan in a state of temporary modification or lingering default. b. The monthly service fee that Fay Servicing , LLC, as the servicer, collects as to each loan it services in a pool of loans, is calculated as a fixed percentage of the unpaid principal balance of the loans in the pool. Consequently, the modifying of a loan to reduce the principal balance results in a lower monthly fee to the servicer. c. Fees that Fay Servicing , LLC charges borrowers that are in default constitute a significant source of revenue to it. Aside from income Fay Servicing , LLC directly receives, late fees and process management fees are often added to the principal loan amount thereby increasing the unpaid balance in a pool of loans and increasing the amount of the servicers monthly service fee. d. Entering into a permanent modification will often delay a servicers ability to recover advances it is required to make to investors of the unpaid principal and interest payment of a non-performing loan. The servicers right to recover expenses from an investor in a loan modification, rather than a foreclosure, is often less clear and less generous. e. Fixed overhead costs involved in successfully performing loan modifications involve up-front costs to the servicer for additional staffing, physical infrastructure, and expenses such as property valuation, credit reports and financing costs. 3. Rather than allocating adequate resources and working diligently to reduce the number of loans in danger of default by establishing permanent modifications, Fay Servicing , LLC has serially strung out, delayed, and otherwise hindered the modification processes that it contractually undertook to facilitate when it accepted billions of dollars from the United States. Fay Servicing , LLC delay and obstruction tactics have taken various forms with the common result that my loan serviced by Fay Servicing , LLC, in which im eligible for permanent loan modifications, and have met the requirements for participation in HAMP, have not received permanent loan modifications to which iam entitled. 4. By failing to comply with the California Homeowner Bill of Rights ; specifically, by engaging in the unlawful practice of Dual Tracking, Fay Servicing , LLC has left me in a state of despair and panic as I seek a loan modification from Fay Servicing , LLC, only to have my home wrongfully, oppressively and illegally sold out from under my feet. When I opened my loan from XXXX XXXX XXXX my monthly payment was {$1300.00}. I couldnt pay them anymore due to my divorce my husband left me and left me in the waters. I applied for a Loan Modification and they told me to make some trial period payments of {$1500.00}. I paid all three times for the three months, on time. After the payments were done they transferred me to XXXX XXXX XXXX. I had the same story with them, they asked for trial period payments and so I had no other choice I paid {$1900.00} for three months, on time. XXXX XXXX XXXX transferred me to Fay Servicing , LLC who is now my current servicer. I now have a foreclosure sale for XX/XX/XXXX. I have sent them all documents but they still have not offered me anything. I have sent them documents again. I dont want them to ask for a trial period payment and then transfer me to another servicer and then go through the same thing the banks have been doing to me twice. I dont even know if those trial period payments I have paid when towards anything like my loan or did they just take it. I want to keep my home and pay a reasonable amount. I have a sale coming up on XX/XX/XXXX.
Company Response: Closed with explanation

Timely Response

2018-12-17

NH

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Hello, I was referred to you by the attorney generals office. We have had ongoing problems with our mortgage company. They are falsely saying that we owe them thousands of dollars that we do not. And our house is in foreclosure even though we never missed or were even late on the mortgage payment. At this point, we do owe them one months mortgage because they refused to cash the last check, because they said we are in pre-foreclosure. We had only owed them {$1900.00} for a check they sent to the town for property taxes and the town cashed it and paid our taxes in advance. We had paid the taxes up to that point. We have had a mortgage on the house for 15 years and never had escrow. Now they are saying that we owe them {$6500.00} and they want it paid to satisfy the debt on their terms or we will lose our house. They have actually sent us letters with false information saying that we did not pay our mortgage for XXXX, XXXX and XXXX. And We have cashed, cleared checks proving that we did pay and were not even late. Please help or please direct us to who can help. I am afraid that we are not the only people they are doing this too. And another person or someone elderly who is confused may just pay them the money and they may be getting away with this? Sincerely, XXXX XXXX
Company Response: Closed with explanation

Timely Response

2018-12-17

Fayetteville, GA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-12-14

Hamburg, NY

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have tried to use the loss mitigation process to do a loan modification. I was {$14000.00} behind in my mortgage and I was only able to come up with {$10000.00} so Faye Servicing would not accept the {$10000.00} and allow me to make arrangements on the remaining {$4000.00}. I feel behind while in Bankruptcy During the process my loan modification paperwork was continually denied due to the need to obtain separate homeowners insurance, although I have forced hazard insurance. I was given time to obtain the homeowners insurance and during the alotted time to provide said documentation I received Foreclosure Court Papers. I sought an attorney to help me with the process. My attorney has been working thru the process with the Banks Attorney. However Faye Servicing has continued to pursue a bank foreclosure. I was told that I am subject to both a Judicial Foreclosure and a Bank Foreclosure. So, I have been subject to additional collection actions by Faye Servicing. Faye Servicing has demanded the same paperwork my attorney has submitted. Faye Servicing has continued to tape notices to my door and call me from multiple numbers. I spoke to the Account Manager at Faye Servicing and I was told that by not participating with the Bank Foreclosure that I will lose my home despite the actions taken by my attorney. My attorney advised me to not talk to Faye Servicing but they continue their collection efforts. I am scared to lose my home! I am pursuing another attorney for the additional foreclosure proceedings. So, I will have two attorneys to address both collection actions moving forward. I just need to ensure that I do not lose my home.
Company Response: Closed with explanation

Timely Response

2018-12-12

Indian Mills, NJ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-12-11

Sebring, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: SINCE XXXX I HAVE BEEN IN AN UPSIDE DOWN LOAN WITH AGGRESSIVENESS AND THREATS. I BEEN TRANSFERRED FROM XXXX XXXX. XXXX WHICH I HAD ON WHICH I HAD ONE PAYMENT LEFT OF {$640.00} IN XXXX OF XXXX. WITH XXXX. I ENTER INTO A LOAN OF {$67000.00} XXXX PAID THE LAST PAYMT TO XXXX OUT OF THE {$67000.00} I BORROWED. IN XXXX XXXX XXXX SENT ME PAPERS SAYING I OWED THEM {$240000.00}. I IMPLIED WITH THEM AS TO HOW THIS FIGURE CAME UP. MY ORIGINAL HOME BURNED TO THE GROUND ON THE NIGHT OF XX/XX/XXXX LASTING PAST 12 MIGHT FOR THE FIRE DEPT TO EXTHINGISH SO THE FIRE REPORT READ XX/XX/XXXX. MY FIRE INS CO. ( XXXX XXXX XXXX XXXX XXXX ) PAID ME ABOVE {$600000.00} TO REBUILD AND REPLACE A HOME ON MY PROPERTY LOCATED AT XXXX XXXX XXXX ( PREVIOUSLY XXXX XXXX XXXX ) I QUESTIONED XXXX AS TO HOW THEY ARRIVED AT THE {$240000.00} SUM. I DID NOT BORROW THAT AMOUNT OF MONEY. I USED THE MONEY FROM XXXX XXXX XXXX XXXX XXXX TO REBUILD AND REFURNISH THE NEW HOME. WHICH APPRAISED AT {$310000.00} SINCE I HAVE XXXX XXXX, XXXX XXXX. MY PAYMENTS JUMPED FROM {$780.00} TO {$1800.00} PER MONTH. THE HOUSE PASSED INTO THE HANDS OF XXXX XXXX AT {$1400.00}. THE LOAN THEN WENT INTO THE HANDS OF PRESENT FAY SERVICING LLC XXXX, XXXX, TX XXXX. I ASKED THEM FOR A MODIFICATION AND IT WENT TO {$1100.00}. THE I ASKED FOR A SECOND MODIFICATION UNDER XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, CA XXXX. FAY SERVICING LLC DID NOT DO A MOD, BUT INSTEAD DID REPAYMENT PLAN TO PAY {$2500.00} /NOW {$1600.00}
Company Response: Closed with explanation

Timely Response

2018-12-11

Corona, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-12-10

Stkn, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: In XX/XX/2018 Fay Servicing contacted me about being 6 months behind on my mortgage payments. I spoke to XXXX XXXX at Fay Servicing about this and I told her that was wrong because the payments were being taken out of my bank account automatically every 2 weeks for the past 2 years. she told me that the records on her end showed I was behind 6 months so she needed to see my bank statements that shows the payment was being taking out and she wanted me to fax her the statements. I faxed them to her and when she received them she said it didn't matter that we still showed we were behind and our home was going to be put on the auction block if we didn't give them XXXX XXXX XXXX which ballooned to owing them XXXX XXXX XXXX which I didn't have on hand. In XX/XX/XXXX they also stopped the automatic payments and would not accept any payment unless it was the full amount they stated we owed. I collected my bank my statements from XX/XX/2016 to current which showed that they had been getting there payments every 2 weeks. They were not interested in the information and proof of payment I had. In XX/XX/XXXX we tried making our payments but were unable to do because they had blocked any payments from going through. my house was put on the auction block in XX/XX/2017. mean while I was getting the funds together so we wouldn't lose our home. our home was 12 hrs from being auctioned off when I finally had the funds in hand to save my home. I was given an amount of over {$23000.00} dollars to bring our mortgage current and i was told it included all legal fees.now 3 months into this ordeal I receive a statement for over XXXX XXXX XXXX for legal fees!
Company Response: Closed with explanation

Timely Response

2018-12-10

Cheverly, MD

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: For the past few weeks I have been going through the process of applying for a loan modification with my current mortgage servicer. I have been working with my assigned Account Manager to supply all the documentation to submit a complete package for review. On XX/XX/XXXX I was informed that I had submitted a full package and it was submitted for review. On XX/XX/XXXX I received a Voice Mail from my Account Manager. On the morning of XX/XX/XXXX I returned his call and left a voice mail but never received a return or any correspondence even to today. On XX/XX/XXXX I received a letter from the Servicer detailing an offer of a Dee-in-Lieu and giving me a 14 day deadline to accept their offer of a Deed-in-Lieu of face a foreclosure action. The letter mentioned nothing about being denied a loan modification or any reasons for said denial and is the only response i have received. Furthermore the letter was dated XX/XX/2018 ( see attached letter ) but the envelope was clearly postmarked XX/XX/2018 and not delivered to me until XX/XX/2018 allowing me 14 days to appeal the decision. The lack of timely execution actually leaves me only 8 days to respond. I shared and discussed the letter with my attorney and we researched the requirements outlined by the Consumer Financial Protection Bureau and we do not believe this is an appropriate response to my Loss Mitigation Application. I was asking for a Loan Modification. The Servicer didnt bother to tell me I was denied a loan modification or to the extent Im supposed to interpret this letter that talks about a deed-in-lieu. I dont know what I am appealing.. How do I appeal a loan modification request when I have no information on why I was apparently denied a loan modification because they didnt tell me why I was denied? Also I know there are other loss mitigation remedies available. Why am a I not being offered other loss mitigation options such as a Short sale? Why am I not being offered those remedies only a deed-in-lieu? I do not have enough information to make an important decision. Again I do not believe this letter is in compliance with the guidelines the CFPB has outlined for mortgage servicers. I called my account manager on the morning of XX/XX/XXXX and again on XX/XX/XXXX but I have not received a return. As a secondary complaint I was discussing my application with my account manager on the XX/XX/XXXX call where I expressed a desire to increase my income by establishing an Airbnb accommodation in my home.. The Account Manager said we wouldnt need that information yet but he would contact me if they needed more income or information. That never happened. If he would have informed me as promised in a timely manner I would have stepped up my efforts to not only finish preparing that room but to possibly prepare a second room for the same reason. No contact was made saying I needed to secure more income. I would have gladly made the adjustments to raise the income to comply with any requests the mortgage Servicer would have made. I dont think it is appropriate to lead me on saying I will inform you if we need more information or income and never actually providing that information so I could strengthen my application. I believe my Servicer has not met their obligation to service the loan properly and timely. I believe some of the actions have been inappropriate. Also I may be entitled to other considerations since the mortgage in question is a " Pick-A-Pay '' mortgage.
Company Response: Closed with explanation

Timely Response