Fay Servicing, LLC
Consumer Complaints
There are over 1355 complaints on file for Fay Servicing, LLC. Dated between 2019-12-06 and 2012-09-10.
Complaints Page 21
2018-01-30
WV
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: In 2016 I paid income tax on XXXX discharged debt evidenced by a XXXX cancellation of debt ; however Fay servicing, a third party, continues to list it as an interest deferred principal I want this corrected
Company Response: Closed with explanation
2018-01-30
PA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: In XX/XX/XXXX I received from XXXX XXXX XXXX XXXX proceeds from an insurance settlement from my home. The Check was made payable to the insurance Adjusters who helped settle the claim, Fay Servicing and myself. Fay Servicing received the check on XX/XX/XXXX. I started inquiring about my insurance proceeds in XX/XX/XXXX and month after month was giving verbal instructions on what to do in order to get my insurance proceeds. In XXXX it was to send all receipts for repairs to the home which I did. Because I wanted to mitigate my damages, I had paid for repairs to my home from my savings. In XX/XX/XXXX I was told I had to get carpeting estimates. I asked who was going to pay for it and was told if I wanted my money, I would have to submit the estimate. I paid for the estimate. In XX/XX/XXXX I contacted Fay Servicing again, and was told that I should basically pay for the carpeting I explained that one does not have insurance just to be reimbursed and that carpeting is not like other contractor expenses that you hire someone to install carpeting and they wait to be paid. I stated I needed the proceeds to continue and that I had already put more money into my home than I was receiving from the insurance company. In XX/XX/XXXX I was informed that Fay Servicing would have to send an inspector out for the damage. So in order for this to be done, I took the day off of work. Inspector agreed that all repairs to the home were completed except for new carpeting. Once again Fay Servicing held on to proceeds. In XX/XX/XXXX I notified Fay Servicing that I was putting my money into escrow. Informed Fay Servicing of the savings account number and what branch of my bank it was held. Stated that until my insurance money was received, I would put my funds into escrow. This went on month after month until XXXX when I received my insurance funds. However, when I asked Fay Servicing about interest on these funds, I was informed that Fay Servicing does not have to pay interest. So I sent Fay a check for the funds I held. The check was returned to me stating that Foreclosure proceedings had begun and in order to stop it I would have to pay the whole owed balance which included late fees and attorney fees. I reviewed the amount that Fay Servicing was requesting. It seems that Fay Servicing did not pay the taxes on the property for years XX/XX/XXXX and XX/XX/XXXX until XX/XX/XXXX. Therefore, when Fay Servicing paid my taxes that were escrowed at XXXX per year, XXXX XXXX had to pay for XXXX {$6500.00} and for XX/XX/XXXX {$5500.00}. Fay servicing passed the increase due to their error on to me. When I tried to contact Fay Servicing Attorney on this, I was told to contact Fay Servicing Directly. Fay Servicing first denied that the reason for my mortgage increase from XXXX per month to XXXX was due to their error. However, I sent to them proof of the payment which is attached. Fay Servicing has now informed me that I can lose my home unless I pay the total balance and has put this on my credit. This situation has caused me undue stress and I would like to stop. All though all of this I have requested From Fay Servicing something in writing, however Fay Servicing continues to send to me unsigned documents.
Company Response: Closed with explanation
2018-01-29
Denver, CO
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-01-26
Chesterbrook, PA
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-01-25
Ridley Park, PA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: On X/X/18 I requested a reinstatement letter to start the process of withdrawing monies from my retirement account on a 'hardship basis ' to repay Fay Servicing the past due amount. I have had several phone conversations with my account manger who promised to send the same and that " Fay Servicing is most interested in helping me stay in my home and remedying this temporary situation ''. After 6 attempts and promises via the phone I still have not received the information.
This is especially troubling as I have learned that Fay Servicing also has a real estate division that looks to sell homes they have acquired which are worth more than their mortgage value.
My situation is temporary. I have funds available to cure the past due amount. They know this, and are delaying and threatening foreclosure in extreme bad faith by not providing a reinstatement letter.
Company Response: Closed with explanation
2018-01-25
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-01-24
Mill Creek, IN
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-01-23
Marlboro, MD
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-01-18
Hamburg, MN
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: We have been working with this servicer, Fay, for almost 1 year to complete a mortgage modification for our home. We 've been trying to get a modification done for almost 2 years. Fay has scheduled several sheriff sale 's sales while our completed modification package has been in review. They have told us that they do not have to look at our loss mitigation package since it 's not 37 days prior to a sale which is not true for Minnesota.
This pastXX/XX/XXXX, a sale date was set for XX/XX/XXXX. I sent a completed loss mitigation package to them in early XX/XX/XXXX. They declined us based on income/debt ratio onXX/XX/XXXX. I received a significant increase in annual income ( 30 % ) beginning XX/XX/XXXX, and was advised by XXXX XXXX at Fay to immediately send in a new loss mitigation packet since this was a definite change in circumstance. The packet was received and deemed complete within a few days. We waited with no word from Fay until Thursday, XX/XX/XXXX when I called. After to speaking with XXXX XXXX she informed me that indeed the sale was NOT suspended and Fay was not entitled to review the packet since it was not submitted 37 days prior to the scheduled sale date. I informed her that Minnesota has a law that allows homeowners 7 business days. She mentioned that there was nothing she could do. My attorney immediately contacted their local representation, XXXX XXXX XXXX XXXX out of XXXX. We did not hear until late Monday afternoon ( the day of the sale ) that the sale was indeed postponed until Monday, XX/XX/XXXX.
Since XX/XX/XXXX I 've tried to contact XXXX XXXX every couple of days for status, but have yet to this day, been able to reach her. The XXXX ( the new date ) quickly approached with no ability to receive any status. TheXX/XX/XXXXcame and we were not informed until late in the day that in fact the sale did happen. It was n't until Wednesday theXX/XX/XXXX, that we received a letter from Fay dated XX/XX/XXXX that there was no change between our XX/XX/XXXX application andXX/XX/XXXX application. Simply not true since there was the increase in income. Further, Fay did not give us any opportunity to appeal and explain their obvious error since we received the denial letter after the sheriff sale took place.
After conversations and careful review with my attorney, we decided that we had no other choice but to sue Fay Servicing to rescind the illegal sale of our home. We have also filed complaints with the Minnesota Department of Commerce and the Attorney General 's office. The DOC has opened an investigation based on our claims and lawsuit. Both offices have requested a response in which Fay has done. ( see attached letter from Fay to the DOC dated incorrectly asXX/XX/XXXX. The DOC did not start their investigation untilXX/XX/XXXX ) The letter clearly contradicts what Fay has told me and my attorney on numerous occasions that they did in fact review ourXX/XX/XXXX application and that we would QUALIFY for a loan modification but it was not offered because there was no change in income. My annual salary increased 40 % XX/XX/XXXXand we sent in supporting paystubs along with a letter from my employer confirming the increase in salary. The Attorney General 's office received the packet of information from Fay that the Department of Commerce received.
We filed a lawsuit based on the fact that Fay Servicing broke the law. ( MN Statute 582.043 Subd. 6 ) Fay Servicing continued " dual tracking '' by receiving our loss mitigation packet on XX/XX/XXXX. They did not halt the foreclosure sale, and did not give us any opportunity for an appeal on a denial. In addition to the lawsuit, we also filed a temporary restraining order to stay any eviction that Fay may pursue since our redemption period ends XX/XX/XXXX on XX/XX/XXXX and a lis pendens on the title. The hearing was scheduled for Friday, XX/XX/XXXX Fay 's attorney did reach out to my attorney on Thursday, XX/XX/XXXX with a settlement offer to move out byXX/XX/XXXX and receive {$5000.00} for cash for keys. We declined the offer, and looked forward to our day in court to prove Fay illegally sold our home. On Friday afternoon XX/XX/XXXX Fay 's attorney reached out with a new offer to properly review our loss mitigation packet and not to evict for 60 days if we remove our motion for a temporary restraining order. We agreed.
At this point, we have submitted a NEW loss mitigation packet along with XX/XX/XXXXXXXX copies that show the increase in salary we expressed back inXX/XX/XXXX. I am skeptical, but hopeful.
Company Response: Closed with explanation
2018-01-17
Grangeville, LA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-01-16
Missouri City, TX
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Refer to case number XXXX copy enclosed Recived foreclosure notice, copy attached. XXXX XXXX cashed most payments then returned last payment demanding a {$22000.00} payment. I retained another lawyer. Letter attached. Foreclosure set fo XX/XX/2017.. XXXX XXXX have been devidingmy payments, taking payments for Tax escrow despite the fact that taxes have been deferred because of homestead exemption of elderly XXXX owner. One rep of Fay told us to carry our homeowners insurance. We got our own coverage. Fay sent notice stating that they would pay for insurance. Now we were paying for insurance and Fay was charging our account with insurance further deleting our applied payments meant for the mortgage. please see attached.
Company Response: Closed with explanation
2018-01-16
South Florida, FL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: In XX/XX/XXXX, I had to file bankruptcy and applied for a loan modification with Fay Servicing. After countless paperwork, I received a letter granting it, but it just put my past due amount in the rear, kept my 6 % interest rate, increasing my mortgage amount, which I was having trouble paying to begin with. I struggled but paid them.
Hurricane Irma hit us in Florida and I had to use funds to make emergency repairs to my house. Due to the fact that I am in bankruptcy, I did not qualify for any relief they offered other custiers, ( ie two months relief ). they told me that I need to apply for another modification, which I did. In the meantime, I receive my insurance proceeds from XXXX to start repairing my house. I signed and mailed the checks over to them on XX/XX/XXXX, totaling {$35000.00} ( check # XXXX for {$2900.00} and # XXXX for {$32000.00} ). Fay servcing has yet to release one dollar back to me for repairs. I have done their paperwork, provided estimates, liability insurance from the contractors, but every time I call them for an update, I am still missing documents.
I decided then to act as my own contractor to bypass all of the paperwork they need and, per their policy, will provide them proof of all expenses. I am still waiting for a response to my letter sent to them stating such on XX/XX/XXXX.
They are also keeping a settlement check that I received from a lawsuit that I settle with XXXX XXXX when they denied my claim for water damages in XX/XX/XXXX ( which is why I had to file bankruptcy for, I paid all of the repairs out of pocket ) ; check # XXXX, {$11000.00}, made payable to myself and XXXX XXXX, XXXX ). I could use that money to get my loan up to date in full since it is my own. I have told them countless time this was my intention. Still, no answer.
I was contacted by my account manager on XX/XX/XXXX to advised me the loan modification that I applied for was denied, due to the fact that " I have exceeded the amount of request '', which is 2. I only had 1 modification in XX/XX/XXXX. He told me to appeal when I get the paperwork. I asked him of the status of my lost drafts, " I do not know, I will look into it ''. I have now mold in my house, and it is becoming inhabitable, but I have nowhere to go. I am a single mother, sole breadwiner and have XXXX dependents, my motehr and my XXXX year old daughter. I did not qualify for FEMA, since my insurance carrier is covering my claim. I truly believe Fay servicing is doing everything they can for me to lose my house. I can not get any answers from any account managers, can not communicate directly to their lost drafts department, nor speak to a manager. What Fay Servicing is doing is illegal and immoral. I have kept a line of communication with them throughout my entire ordeal, provided all information they have asked of me. I am please asking for help in trying to resolve this matter.
Company Response: Closed with explanation
2018-01-12
Tacoma, WA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: On XX/XX/XXXX, we submitted documents to Fay Servicing for a short sale, including a live offer for sale of the property at {$200000.00} - hard money, cash. On XX/XX/XXXX, Fay Servicing confirmed the file was complete, put the foreclosure sale date on hold, and began the 30 day review process. On XX/XX/XXXX, the file was sent to the Short Sale Department for review, but nobody had been assigned yet. I requested the file be escalated to get someone assigned to the file, and on XX/XX/XXXX, was told XXXX XXXX ( XXXX was the point of contact. After speaking with XXXX, I learned that XXXX XXXX ( XXXX ) XXXX was the negotiator on the file. XXXX told me on XX/XX/XXXX that the lender had conducted a valuation of the property which came back at {$190000.00} and because our offer was {$200000.00} we should be looking for a quick approval. XXXX requested updated documents and on XX/XX/XXXX had confirmed that all documents were received and the file was under review for investor approval. On XX/XX/XXXX, XXXX told me that the approval letter should have come in on XX/XX/XXXX and agreed to escalate the file for a response. Later that day, XXXX responded that the investor had countered requesting items to be removed from the HUD and we requested an updated HUD with those changes that same day. Then, on XX/XX/XXXX at XXXX, XXXX wrote us to declare that the investor now countered at {$220000.00}. On XX/XX/XXXX, we made our first written request for the identity of the investor on this account. We commented that the stated counter offer of {$220000.00} was unsupported by the lender 's own valuation at {$190000.00}, and that we intended to move forward with our acceptance of the counter wherein we edited certain specified items on the HUD ( reduction in agent commissions to 5 %, etc. miscellaneous items ) that we had agreed to on XX/XX/XXXX before the $ XXXX demand was made. As requested, we attached the updated HUD and the utility bill statement to the correspondence. XXXX called me to discuss the same. On XX/XX/XXXX, we discussed our agreement with XXXX, the fact that the later $ XXXX demand was a " statistical outlier '' and was unsupported by the lender 's own valuation, as well as a Comparative Market Analysis we had performed on the property at the time of listing, which came in at {$190000.00}. A copy of the same CMA report was provided to XXXX during that conversation for his review. On XX/XX/XXXX, XXXX XXXX ( XXXX ) XXXX contacted us by telephone, and engaged in a tirade of abusive and demeaning rhetoric directed at myself, personally. XXXX XXXX reminded me of the fact that he and I had worked on a file previously for XXXX XXXX XXXX, in which we similarly had a live cash offer at the lender 's reported Fair Market Value, and which the investor countered over XXXX XXXX dollars ( {$90000.00} ) above their own stated valuation. He reminded me that that file ended in foreclosure of the home despite the buyer being ready, willing, and able to perform and despite all requested documents having been submitted, reviewed, and marked complete by the lender. We have also filed a CFPB complaint with regard to XXXX XXXX 's handling of the XXXX XXXX matter.
I attempted to resolve this matter with XXXX XXXX 's manager, XXXX XXXX ( XXXX ) however he has not responded to me at this time.
I have also spoken to the listing agent, who has informed me that XXXX XXXX called him directly and told him that his relationship with my office is hindering his clients and that he would be wise to cease doing business with my office and with me, personally. We believe that XXXX XXXX has shown a track record of deceptive and abusive lending practices in which he is using approaching foreclosure sale dates to demand excessive payments out of cash buyers because the cash buyer is unlikely to take subject to a third party bank appraisal. It appears that XXXX XXXX is paying for a BPO and regardless of the outcome, artificially inflating the demand price of the property, which undermines the fair market real estate transaction, and results in wrongful foreclosures of properties, unnecessary damage to their borrower 's credit reports and scores, and other direct and indirect economic, actual, and emotional damages that affect the borrower for years to come. Because of the foreclosure of his home, XXXX XXXX was unable to get approved to rent an apartment and was forced to move into his mother 's basement, humiliating him and causing him great emotional distress. With XXXX XXXX, as with XXXX XXXX here, we have made several written requests for the identity of the investor and all have been denied. At this time, I have made two follow up calls to XXXX XXXX and have not received a response. I am concerned that XXXX XXXX has instructed XXXX XXXX not to answer or respond to my calls in an attempt to undermine my ability to serve my clients.
Company Response: Closed with explanation
2018-01-12
East Rockaway, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-01-12
Marietta, GA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Complaint: Fay servicing respond to the complaint, and only resolved 1/2 of the problem. BOTH late notes should have been deleted ( not just the one that they deleted ) ... the late reports, and fees were all part of the same issue ( hacked checking account and documents sent to Fay on XXXX occasions ). This ongoing issue with Fay is hurting our credit score and the ability to get a mortgage. Below is the email that I sent to Fay on XXXX occasions, going back to XX/XX/XXXX. Hello XXXX, Once again thank you for sending the summary / account activity report on our account. Please note the following as to our account. We have been and continue to make XXXX payments per month. Each payment is for {$1200.00}. We have been making these XXXX payments per month for over XXXX years. Per your predecessor, XXXX XXXX XXXX, your company did not process the XXXX payments in a timely manner as they did not know how to handle these types of payments, ( even thought I noted on EVERY payment the amount to principal and to the payment ). Hence these payments were shown as partial at times and at times caused the account to show as late. Because of this improper handling of our payments, late fees and notes were added to our account. The returned checks / fees were due to my checking account being hacked and our account frozen until the fraud was being corrected. Again this information was communicated to XXXX during several phone calls. In closing the following corrections should happen to our account. 1. All late fess should be waived. I am ok with the late fees being credited to our account as additional principal payments. 2. Our account should not show ANY late payments. Thank you in advance for correcting these errors on our account. Please feel free to contact me with any questions. Best regards, XXXX XXXX XXXX XXXXXXXXXXXX HELP!!!!!
Above is the information from my past complaint ... XXXXThis is STILL NOT FIXED ... there should be zero late payments showing ... .This is crazy as they ( Fay ) have not fixed all of the issues. ....
Company Response: Closed with explanation
2018-01-10
Azusa, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-01-09
Fairmount Cty, PA
Closing on a mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-01-09
ME
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Fay Servicing did not pay my homeowner 's policy from my escrow account on time, although there was sufficient funds to do so. My homeowner 's policy was cancelled on Friday XXXX XXXX XXXX.
I did get an email that Fay paid the premium late ( XXXX XXXX. XXXX ).
However, since the payment was made this year it has caused my escrow balance to be in the negative.
Fay told my insurance agent on XXXX XXXX, XXXX that they were going to overnight the insurance payment. They did NOT do so.
Company Response: Closed with explanation
2018-01-08
Hayward, CA
Written notification about debt
Debt collection: Other debt
Didn't receive enough information to verify debt
Company Response: Closed with explanation
2018-01-06
Saint Clair, MO
Attempts to collect debt not owed
Debt collection: Mortgage debt
Debt was already discharged in bankruptcy and is no longer owed
Complaint: Please review the following This loan is currently inaccessible.
This is what I get when I try to register to see information concerning my loan.
Fay Servicing brought my loan from XXXX XXXX. I was in a chapter XXXX bankruptcy when it was sold. I have never had access to my loan information. They are still considering my loan in chapter XXXX when I have sent them the discharge papers. Fay servicing say they do not honor that because it do not say termination. I have spoken with the person in charge of my loan but she said she had to take it up with her supervisor, this was 6 weeks ago. My bankruptcy was discharged in XXXX/XXXX/2017.
Fay Servicing also tried to foreclose while in chapter XXXX without any assistance.
Something needs to be done about this company.
Company Response: Closed with explanation
2018-01-05
VA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have been asking for mortgage assistance since XXXX XXXX. My account manger was non-responsive and I did not receive any update until early XXXX, when I was contacted by XXXX XXXX, AVP of servicing. She stated that my account manager was no longer with the company but had no idea why my new account manger had not been in contact with me. He finally was able to reach me by phone in mid XXXX and despite multiple requests to contact me via email, refused to do so until last week.
I have finally received a determination from Fay Servicing and find it completely unacceptable. They will not offer ant loan modification arrangement other than the option to short sale the home, an option which is not going to work for us because we are severely under water- we 've owned the property for 10 years and it is worth less than we paid for it. It should be noted that I did not receive this notice from Fay Servicing, I received it via complaint I filed with the BBB- and the letter has the incorrect address on it, indicating the account manger did not change the address as he stated.
I am a XXXX XXXX XXXX XXXX, previously worked for the XXXX XXXX XXXX as a XXXX XXXX XXXX serving overseas in hardship posts such as XXXX and XXXX. We had always made our payments on time until XXXX XXXX when our tenants decided to break their lease and we were unable to find new tenants in a timely fashion due to the housing market in our area. We have since secured new tenants and fully expect to be able to pay our mortgage on time, we are simply asking that the balance from the missed payments be added to the mortgage and that the late payments be removed from our credit report. This is necessary because I have a XXXX XXXX XXXX for my job and a poor credit rating puts me in danger of losing it, and my job.
This is a serious matter which we believe has not been taken seriously by Fay Servicing and if we are not provided adequate assistance we will have no choice but to involve attorneys which we would rather not do.
Please let me know if you need anything else, XXXX XXXX
Company Response: Closed with explanation
2018-01-05
S Brunswick, NC
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-01-04
9 Mile Point, LA
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-01-03
Costa Mesa, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-01-03
Newnan, GA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation