Fay Servicing, LLC

2018-01-03

MN

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My mortgage was recently sold to Fay Servicing, NMLS ID XXXX. I have been in the process of refinancing and was seeking the payoff schedule. My new mortgage broker requested in XX/XX/XXXX but I didn't receive anything. I then called in to request again on Friday XX/XX/XXXX. I was told there would be a rush job to have a new payoff created and emailed to me by my case manager XXXX XXXX direct number XXXX. I then called back in to follow up on Tuesday XX/XX/XXXX. It was communicated to me that the contact on the XX/XX/XXXX did not request a new payoff and did not notify my case manager. The person that I called on XX/XX/XXXX then said they would request a payoff and instruct my case manager to get her supervisor approval to rush job and then email me the document. I called back into Fay Servicing and left a voice mail for XXXX, my case manager on XX/XX/XXXX asking her to call me and follow up on the payoff. At this point I had rescheduled my closing to refinance two times. I called into Fay Servicing Wednesday XX/XX/XXXX and was instructed by XXXX XXXX to have my loan officer call in to obtain a loan payoff request. This was because my access to the account, under my ex wife's name, had expired according to FayServicing (attached email thread with ex wife and co-borrower XXXX XXXX). XXXX XXXX did do this and both him and I have called every day to follow up. I left a voice mail for XXXX XXXX on XX/XX/XXXX. XXXX XXXX, mortgage broker, has called twice per day since payoff request and each time when finally talking with someone they could not provide the payoff amount. I am currently scheduled to close on the refinance Friday XX/XX/XXXX. Any help on this matter is much appreciated. Please see all email attachments confirming ongoing attempts by myself, my co-borrower and my mortgage broker to obtain a payoff number as to refinance.
Company Response: Closed with explanation

Timely Response

2018-01-03

Mill Creek, IN

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-01-02

Gloucester City, NJ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: We have a problem with Fay Servicing who recently took over our familys mortgage loan. As soon as they got this loan they set an auction date before informing us that they were our new servicer or providing a loan number. As we tried to get more information and find out what was going on we would get transferred from department to department and told to leave messages that were never returned. A single point of contact was never assigned and a review of our current financial information for modification review has not been initiated. Instead they have scheduled a foreclosure sale date for XX/XX/XXXX, even though we have not gone through the mediation process as required by our state of New Jersey. We had been approved for a modification with XXXX XXXX XXXX and made all payments as agreed and signed the paperwork to enter into a permanent modification. AFTER we had moved forward we found out that they had pulled a bait and switch and RAISED our monthly payment {$600.00} on the permanent modification. We could not afford this and tried to find out what was going on from XXXX XXXX XXXX In that same time frame we had a major water pipe burst in our home. The damage was significant and the repairs had to be completed to keep the house safe for habitation. We filed an insurance claim and the insurer granted the claim and sent the check to XXXX XXXX XXXX. However, since we had not accepted the modification XXXX XXXX XXXX had put us in foreclosure and they stole our insurance check and kept it for themselves. Then they transferred the loan to Fay Servicing. This is outrageous. My family has owned this house for 16 years. We refinanced into a bad adjustable rate loan in XX/XX/XXXX, and the mortgage broker told us to only put my father XXXX XXXX on the loan and just to state his income. Even though I lived in the house along with my mother and husband and son the lender said this was the best way to do this loan, then we got an interest rate of 8.75 % that could only adjust up. Literally six months after taking out this loan our monthly payment adjusted up {$600.00}. Over the years this loan was transferred to several different servicers, and since my husband and I were contributing along with my father towards the mortgage we were able to keep up with the high rate and payment. In XX/XX/XXXX I went through a series of health issues and we were overwhelmed with out of pocket medical costs and medicine, and I was unable to work. As a result, we struggled financially and defaulted on our mortgage payment with XXXX XXXX XXXX ( lender at the time ). We went through an application process with XXXX XXXX XXXX and were approved for a loan modification with a monthly payment of {$2300.00}. We made this payment as agreed for several months, and were sent paperwork that would convert this payment to a permanent modification. However, we found out after signing the paperwork that the payment had increased over {$600.00} per month, putting us right back where we were when I had health issues. We repeatedly tried to call XXXX XXXX XXXX to find out why they pulled the bait and switch, qualifying us for one program and giving us a monthly payment and then coming back after the fact and increasing it immediately. We could not make any progress. In that same time frame we had a pipe burst and there was major water damage. We had to fix this because it was a health issue -- -and then XXXX XXXX XXXX refused to release the claim check and transferred our loan to Fay Servicing. Instead of working with us to solve the problem Fay Servicing is going full speed ahead to foreclose on our home. This is wrong -- -we fit the criteria and guidelines for help, but Fay is not even giving us a chance or an opportunity to be reviewed.
Company Response: Closed with explanation

Timely Response

2018-01-01

Greenwood, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-12-31

Wesley Chapel, FL

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account status incorrect
Complaint: In XX/XX/XXXX my lawyer sent a letter to Fay Servicing that they provided incorrect information to the credit reporting agencies and to have it removed for both my mother and myself as we were both borrowers on the loan from XXXX. A DEED IN LIEU OF FORECLOSURE was provided by XXXX XXXX, XXXX who was my service provider with an agreement datedXX/XX/XXXX as recorded by the court in XXXX XXXX, Florida. Subsequent to the deed in lieu, the loan was erroneously transferred to Fay Servicing as the deed in lieu was executed prior to the transfer. Fay Servicing responded back on XX/XX/XXXX stating that they were in error of reporting the loan and they stated that on " XX/XX/XXXX the account boarded our system via transfer of servicing from XXXX. Prior to the transfer, a Deed-in-Lieu was executed however, we continued reporting the account as delinquent to the credit bureaus. '' They assured that it was removed from the credit bureaus and they would not report it in the future, however, I logged in to check my credit report while applying for an auto loan which I was denied for. I realized that Fay Servicing is still reporting the inaccurate information to XXXX - after 3 years later. I want this removed immediately as my credit has been damaged over the last 3 years due to Fay Servicing erroneous addition of this loan showing delinquent on my credit report. This should have been fixed when my lawyer addressed this back inXX/XX/XXXXand should have never been reported in the first place.
Company Response: Closed with explanation

Timely Response

2017-12-29

Union Chapel, TX

Trouble during payment process

Mortgage: Other type of mortgage

Complaint: fay servicing. we were to get a harp loan for refinancing according to fay services. My son had a car accident in XX/XX/XXXX. I was a passenger and got XXXX XXXX which caused me to miss 4 months of work. we struggled and still made our mortgage payments but missed one for XXXX. that payment was made on the XXXX Wednesday of XXXX when my wife got her social security. I was trying to find a new job during this time. I managed to get work for the XXXX season. We missed the payment for XXXX and paid XXXX and XXXX payment on XX/XX/XXXX. I thought from everything I have read that harp loans have to be behind 90 full days before we go into default. I found a letter dated XX/XX/XXXX from fay servicing stating that we were in default on our loan and demanding immediate payment plus a XXXX dollar corporate fee. If Fay did n't get us the proper loan they did n't disclose this to us. From what I understand it is illegal for them to send those notices. They also would not even tell us who our actual mortgage holder was even though I requested this information several times. It seems something shady is going on. Also when we call in our account representative is either not in or not available. We have called every day this week trying to figure out what they are up to. No one will talk to us and XXXX XXXX our representative is not available. We want to know what they are up to. also when our loan was redone they told us we were going to get a check for the overage in the escrow account. That never happened either. Eventually they did sent it to the mortgage company and it was applied to our loan. why ca n't they just tell the truth? Any assistance you could be would be greatly appreciated. We feel they are hiding from us what they have actually done and what they continue to do.
Company Response: Closed with explanation

Timely Response

2017-12-27

Boston, MA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: My original home loan was sold to XXXX XXXX and then sold again to Fay Servicing over the last ten years. I did experience a bankruptcy and paid back every cent of my owed amounts. Upon completion of my bankruptcy the next step on my financial journey was to repair the home loan -I applied for loan modification several times Between XX/XX/XXXX andXX/XX/XXXX. Each time I would Submit paperwork to my account manger -they would continually ask for additional Documents - which I worked hard to obtain - when my loan package was complete Or nearing completion i would suddenly be passed over to a different loan manager or mysteriously my paperwork would be missing- I worked with aN Account manager named XXXX - XXXX XXXX XXXX XXXX just to name a few. I applied for the loan modification not to ask for a reduction in payments just to work the arrears of th mortgage into the mortgage as I was able to pay each month and was denied unless I could Pay the entire arrearage. Even though I pay my own water trash and Insurance I have been continually charged by XXXX servicing for such services adding and compounding fee onto my arrearage- I as an consumer have tried to work with Fay serviceing in good will to repair my mortgage with no options from them and limited contact from them. I work hard and can pay my note and do not want to lose my home to foreclosure.
Company Response: Closed with explanation

Untimely Response

2017-12-23

Mesquite, TX

Trouble during payment process

Mortgage: Other type of mortgage

Complaint: I filed a complaint with CFPB # XXXX. FAY Servicings response was that they never receieved the signed documents back from us however we did send the signed notized documents i have attched a coy to this complaint maybe this will resolve our wrongful forclosure issue and we cant restart making our monthly payments soon. Thank you XXXX XXXX ...
Company Response: Closed with explanation

Timely Response

2017-12-22

ME

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: XX/XX/XXXX I received my property tax bill from my town. I immediately asked for ( in writing ) an abatement from them because they had omitted the homestead exemption. The amount they assessed in error was $ XXXX.The correct amount was in fact {$980.00}. ( The taxes were due XX/XX/XXXX ) On XX/XX/XXXX I was granted the abatement by the town and my taxes due amounted to {$980.00}. I mailed letters about this change to my servicer, Fay Servicing at 2 addresses they listed, as well as emailing my account manager on XX/XX/XXXX. On XX/XX/XXXX I got an email from Fay Servicing saying my taxes had been paid to my town for {$1200.00} ( more than was due, even if the original bill had been correct. ). There was no mention of receiving my letter that the original bill had been in dispute, and not to pay that amount until I got this sorted out. I had my sister call Fay on XX/XX/XXXX and left a voicemail for my account manager saying the taxes were paid in excess. ( Im hearing impaired and do not use the phone ) That check was not cashed and Fay voided the check on XX/XX/XXXX. On XX/XX/XXXX Fay remitted the corrected tax amount to the town for {$980.00}. That is issue # 1 I have with Fay : paying the incorrect amount although they had advance notice my original taxes were in error. Even then, Then the taxes were paid late. My 2nd issue is that today XX/XX/XXXX I received a letter from my homeowner 's insurance company that my policy was cancelled due to nonpayment. My monthly mortgage payment includes an escrow account from which taxes and insurance are to be paid. The insurance was due XX/XX/XXXX. My insurance agent had sent Fay the insurance bill on XX/XX/XXXX. When my agent today ( XX/XX/XXXX ) talked to Fay about the home insurance he told me they ( Fay ) were off nearly a month on my coverage dates comapred to what my insurance company has. The lady he spoke to was going to " make the necessary changes. '' This happened last year too ... .Fay didnt pay the insurance on time and I had to sort things out with them and the insurance company. I also get charged more because the bills are paid late. I also have an issue with Fay not setting up the initial escrow account on time. It took them 2-3 months to set up the escrow, then only after I asked " why dont I see payments going into an escrow? '' The answer was " whoops, sorry, oversight. '' My last complaint is that the customer activity statement is so convoluted that I am having trouble understanding it ... .And there are several late charges noted although since Fay took over my servicing I have never been late nor missed a payment. There are also charges for property preservation in spite of my questioning this on the basis of never having left my home, and always maintaining my wish to live here permanently.
Company Response: Closed with explanation

Timely Response

2017-12-22

Norwalk, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My partner and I invested into this property. When my partner decided he no longer had interest in the property, the deed was transferred to my wife XXXX XXXX. Following a divorce and bankruptcy, the grant deed was then transferred to myself ( attached are supporting documents from the court ). I was making the payments to XXXX XXXX XXXX, but once the loan was transferred to XXXX my payments started being rejected. When calling in and speaking to a representative, I am told I am not on the loan and can not make the payments. Even after supplying them with the proof from court and grant deed showing me on title, they refused to take my payments. Now I am facing foreclosure due to my documents being mistreated and not review properly. Then after hiring an attorney, I found out that my loan was then transferred from XXXX to Fay Servicing to which I have received absolutely no notices to the property address. Additionally, a Notice of Trustee Sale was posted yesterday XXXX/XXXX/XXXX for a sale of XXXX XXXX, XXXX. That is not even 22 days away required by law that I am to be notified. This whole situation has gone from bad to worse and I need help from whomever I can at this point so I do not lose my property.
Company Response: Closed with explanation

Timely Response

2017-12-20

Grangeville, LA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-12-19

South Florida, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-12-18

Salisbury, MD

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-12-18

Trinity, NC

Communication tactics

Debt collection: Mortgage debt

Frequent or repeated calls
Company Response: Closed with explanation

Timely Response

2017-12-17

Jacksonville, FL

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2017-12-16

Gloucester City, NJ

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Contacted FAY SERVICING on XXXX XXXX regarding escrow analysis ' and two payment increases. Two escrow analysis were done in one year resulting in payment increases. Two Representatives including a supervisor could not tell me why. Supervisor stated he would send this over to escrow department for review and within 72 hours someone would get back to me. I 'm still waiting. In addition my single point of contact representative has not returned numerous messages left for her. Verification of account holder is very poor. Lack of XXXX when calling a cell phone.
Company Response: Closed with explanation

Timely Response

2017-12-15

Apex, NC

Applying for a mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-12-15

Yuba City, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-12-15

Phila, PA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-12-14

Hollywood, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-12-13

Temperanceville, VA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Since XXXX I have been behind on my mortgage payments due to a reduction in pay with my current employer. I attempted to modify my loan earlier this year, but Fay Servicing denied me a modification and suggested that I proceed with a short sale. I hired a Realtor in XX/XX/XXXX as well as a short sale negotiator and that same day I received an offer on my property and began to work the short sale process. Throughout the process Fay Servicing was very uncooperative and consistently misplaced paperwork that my realtor and negotiator had to continue to submit. In late XXXX I received a letter that Fay intended to foreclose on my property. They never issued a denial of the short sale and they stopped taking calls or responding to repeated attempts by my realtor and short sale negotiator to obtain more information for me. On XX/XX/XXXX the locks were changed on my property while I was out of my home. I was never served with any eviction notice and I still have belongings in the property. On XX/XX/XXXX my realtor received a call from a man by the name of XXXX XXXX, who stated he was the REO manager who had changed the locks and that Fay servicing had never notified him that anyone was still living at the property. He was willing to make arrangements for me to get back inside the home to retrieve my belongings, but I still was never properly evicted and I feel that this is a violation of housing laws on the part of Fay Servicing.
Company Response: Closed with explanation

Timely Response

2017-12-13

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-12-13

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-12-12

Northridge, CA

Written notification about debt

Debt collection: Mortgage debt

Didn't receive enough information to verify debt
Company Response: Closed with explanation

Untimely Response

2017-12-11

Shohola, PA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response