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 28
2017-08-17
Ft Myers, FL
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: In XX/XX/XXXX, XXXX XXXX sold my mortgage loan to Fay Servicing. I received a letter from Fay Servicing stating that an “Account Manager” would be assigned to my loan to service the loan and that this person would be my contact for any questions or problems I would encounter because they would become familiar with my situation and loan. At the time that my loan was transferred to Fay Servicing, I had submitted a complete Modification Package to XXXX that was under review and I was instructed by XXXX not to make any mortgage payments while the modification was being reviewed. I informed Fay Servicing about this situation and was told that modification paperwork had not been transferred to them with the loan documents. Fay Servicing then sent me a new Modification Package, which I immediately filled out since I had copies from the paperwork I had submitted to XXXX. Several weeks passed and I did not hear anything from Fay Servicing regarding the status of the modification so I called the “Account Manager” who had been assigned to service my loan. I explained my financial situation with him and I was told that I could make payments of XXXX a month. I was concerned about the repercussions of during this, such as late fees, increased interest, a penalty being assessed on the mortgage, or my loan going into a default status. I was told that none of these options would apply and there would not be a problem as long as I made the XXXX/month payment. I asked if the shortage in the mortgage payment amount would be added to the principle amount owing on the loan and I was told that the shortage would be added to the mortgage amount as long as I made the XXXX monthly payment. No paperwork was given to me to document this. The following month when the payment of XXXX was due, I called my “Account Manager” to make sure that everything was the same. After leaving several messages for a week and not receiving a return call, I called the main number for Fay Servicing and was told that my “Account Manager” had been changed. I did not receive any type of notification about this change. I called the “2nd Account Manager” and asked about sending the payment of XXXX and I was told that a signed and authorized Forbearance Agreement was required for this type of payment agreement. When I received the Forbearance Agreement, I immediately signed and returned it. The “2nd Account Manager” said that there was no modification paperwork in the system, so I was sent a second package, which I again immediately completed and returned. Again, I was told not to make any payments while the modification was in review. I did not receive any information regarding the status of the modification, which I assumed was in review, so I called the “2nd Account Manager”, left several messages, did not get a response, so I once again called the main number and was told that my “2nd Account Manager” had been changed and again, I received no notice of this change. To follow up on the status of the modification review, I called the “3rd Account Manager” and was told that documents that were needed for the modification were missing from the modification package. I did not receive any type of notification that documents were missing from the package. The needed documents were sent to me and I immediately signed and returned them. Again, I was instructed not to make any type of payment while the loan was being reviewed for modification. I then received a notice saying that nothing more was needed to complete the modification package. After several weeks, the modification was denied and I received a letter stating that my loan was in default and a foreclosure status was being initiated. I called my “3rd Account Manager” to discuss why foreclosure was in process and I was told that my loan was being referred to another “Account Manager” that specialized in bankruptcy and foreclosure cases. This was the 4th change of “Account Managers” and again, I was not informed of any change. At this point, I was forced to retain the services of an attorney in order to prevent foreclosure as I am XXXX, have no children or family to help me and I would be rendered homeless. My attorney tried several times to reach my “Account Manager” and encountered the same problem I had. The attorney then took this issue to court before a judge to postpone the foreclosure and advised me to sell the property as soon as possible because the postponement was temporary and my locks could be changed after this temporary delay. I was extremely afraid of loosing my personal belongings, so I took the first offer that was made to sell my property. It was sold below market value because of this situation. Also, I had to place all of my furniture in a consignment store, I could not afford a storage unit to accommodate all of the furniture. After a short period of time, the “4th Account Manager” returned my loan to the previous manager who had been handling the loan. This was the 5th change of “Account Managers.” Due to the fact that my loan had been placed into a foreclosure status in the county records, I could not qualify for a mortgage to purchase something else to live in or rent an apartment. I was forced to stay with a friend until I had time to find someone to finance a place for me to live. I am currently living in a mobile home financed by the previous owners. I have a medical condition that affects my nerves and as a result of the stress, my pain medication had to be increased. The equity in my home and my furniture was all that I had left for retirement. I do not have an IRA or any type of insurance policy, only a small pension of XXXX a month, because all was lost when the market fell in XX/XX/XXXX. I am XXXX years old and this situation has caused me mental/physical health issues due to the XXXX and urgency to move quickly.I have documented all transactions pertaining to this loan and my attorney and the judicial system also has a record of everything pertaining to this mortgage loan. My attorney advised me that Fay Servicing had performed “Mortgage Misrepresentation”.
Company Response: Closed with explanation
2017-08-17
Duluth, MN
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-08-15
Avalon, MS
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-08-15
Paterson, NJ
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2017-08-15
Augusta, GA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: i am trying to submit a loss mitigation application to fay servicing i keep sending forms they want more i send them they say its not fill out right right i know they are ok i ask them to send another form it takes almost two weeks.the account manager is never available its like they kill time until time to take the house, my wife had a XXXX XXXX in XX/XX/XXXX our daughter gave her th XXXX they both had a few problems after XXXX.and my wife have had XXXX XXXX XXXX since medical bills and medicine was so exspensive i had i had to borrow money on the house which we have been in since XX/XX/XXXX.i got a little behind, we can make payments if only give us a chance. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ga.XXXX
Company Response: Closed with explanation
2017-08-14
Rossville, TN
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-08-14
Glendale, CO
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I have not been able to get the mortgage company ( Fay Servicing ) to pay my Abatement Contractor. The work by them is complete and the mortgage company has had the funds for 2 months now. The contractor is getting ready to send us to collections and have added interest to the amount owed. I have been on the phone at least once a week with my mortgage company and have only been told it is in review or they need to inspect the work, but have not set up an inspection date.
Company Response: Closed with explanation
2017-08-14
Dale City, VA
Trouble during payment process
Mortgage: Home equity loan or line of credit (HELOC)
Company Response: Closed with explanation
2017-08-14
Diamond Bar, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-08-13
Harsens Is, MI
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Dear Representative, On X/X/2017 I called this servicer and spoke to : XXXX XXXX with no call backs concerning the Modification application submitted. Was told that it would be uploaded into their system and he would call back on X/X/2017 @ XXXX XXXX. Since then I have left several messages and no follow through by the servicer concerning this matter.
This is unethical and unprofessional. I need a call back soon. Also, need to know were to make the payments to them or XXXX XXXX XXXX. Who is servicing the account?
XXXX seems not to be aware of the account so we need to clear these issues up!
Respectfully yours, XXXX
Company Response: Closed with explanation
2017-08-11
Newhall, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-08-11
Bay Hills, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-08-11
Dracut, MA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-08-09
NC
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-08-08
Douglasville, GA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-08-08
Bloomfield, NJ
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-08-04
Fort Pierce, FL
Trouble during payment process
Mortgage: FHA mortgage
Company Response: Closed with explanation
2017-08-03
Baton Rouge, LA
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2017-08-03
East Keansburg, NJ
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2017-08-02
Una, SC
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Before my loan was sold to Fay Servicing my loan never fluctuated. Now it keeps going up and up and their excuse is that my escrow is behind even when I have gotten my taxes lowered and my insurance lowered they still can not give me a good reason other than some figures that make no sense on a sheet of paper. I tell them that they need to explain this to me and they blow me off. I am being cheated by this company and I do not know what to do nor how to go any further. This is why I am bothering you folks, in hopes of getting some relief. Also, they will not refinance my loan or adjust it so my interest is lower because they are making a lot of money at my expense. My interest rate is 7.5 percent and they come up with many excuses why they can not lower my interest rate so they can make the money. They even blame the problem on the government. I think that after 18 years of on-time payments they would realize that I can make the payments but they say that my credit is not good enough and i do not show enough income to make this happen. This does not make sense to me. I am making my payments on time and have been so therefore they should see that I should have a lower interest rate. I feel they can make this happen but they are making way to much money at my expense to lower my rates. I think they are dirty dealing at my expense and i wish something could be done about it. Please help! Thank you, XXXX XXXX
Company Response: Closed with explanation
2017-08-01
Trenton, NJ
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have a problem with the holder of my mortgage loan, Fay Servicing. My name is XXXX XXXX, I am the surviving spouse and rightful owner of my home located at XXXX XXXX XXXX in XXXX, NJ. I am currently delinquent on my mortgage loan and have been attempting to get Fay Servicing to work with me towards a solution so I can save the house. My XXXX XXXX has had a couple of bad years which put me in a tough spot financially and my wife passed away as well. At this time I am approximately {$22000.00} behind on my loan. I have tried to get Fay Servicing to work with me towards a modification so that I can save my home, but am unable to gain any traction. I have been led to believe that since I received help with a modification in the past ( 5 years ago ) that there is no help available. I know that there are programs and options available and want to know why Fay Servicing is not considering me for any of these programs. My financial situation has stabilized and improved and I am able to afford a fair payment, but cant come up with the full {$22000.00} to reinstate the loan. This house has been in my wifes family for decades and I dont want to lose it. We bought the home and put it in our name in XX/XX/XXXX and had no problem making our payments until XX/XX/XXXX when I was hurt in an accident and XXXX XXXX XXXX. I was out of work for 2 months and my wifes income was not sufficient to keep up with the bills. We fell behind and reached out to our lender at the time, XXXX XXXX. They were very helpful and we were able to get our loan modified to an affordable payment in XX/XX/XXXX. My XXXX XXXX hit a rough patch in XX/XX/XXXX. I have worked as a XXXX for 40 years and it is my family business, but XX/XX/XXXX was one of the worst years ever. At the same time my wife was having a lot of health issues and we defaulted on our mortgage payment. Then my wife passed. It took quite some time to regroup and handle the business affairs as well as getting back on my feet emotionally. I have tried to get Fay Servicing to work with me towards a new modification or restructured loan but have not made any progress. They have not assigned my case to an account manager, they have not reviewed my current financial information, and seem to not understand the hardship that I have recently endured. As explained, my XXXX XXXX is doing well and is stableI am also going to be receiving some SSI benefits from my wife as well. I have had a change in my financial situation and can afford a fair payment. The issue is that the lender agents only give me the option of repaying all the missed payments at one time. I do not have {$22000.00} to pay them, but if they would work with me I can resume making regular payments and we can resolve this situation.
Company Response: Closed with explanation
2017-07-30
OK
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: ON XXXX XXXX 2017 I WAS LAID OFF FROM MY JOB. I IMMEDIATELY CONTACTED FAY SERVICING TO REQUEST LOSS MITIGATION. ON XX/XX/XXXX, XX/XX/XXXX AND XX/XX/XXXX AFTER WINNING MY UNEMPLOYMENT I SENT FAY SERIVICING CHECKS THRU MY BILLPAY THRU MY BANK. FAY SERVICING HELD THOSE CHECKS UNTIL THEY FOUND OUT THAT I HAD A PAPER TRAIL AND THEY FINALLY CASHED THE CHECKS ON XXXX-17. THURSDAY XXXX XXXX, 2017 I RECEIVED A LETTER THAT MY LOSS MITIGATION APPLICATION WAS COMPLETED. ON FRIDAY XX/XX/XXXX I RECEIVED A LETTER FROM FAY " INTENT TO FORECLOSE '' DEMANDING XXXX DOLLARS FROM ME. FAY SERVICING HAS CAUSED ME SO MUCH STRESS AND PUT ME IN DISTRESS. I AM NOT SURE HOW FAY SERVICING CAN FORECLOSE ON ME WHEN I AM NOT BEHIND ON MY PAYMENTS AS WELL AS IN LOSS MITIGATION. I ISSUED A HALF A PAYMENT THRU BILLPAY FOR XX/XX/XXXX THRU MY BANK. FAY SERVICING WILL HOLD THAT CHECK LIKE THEY ALSO DO. I AM HOPING SOMEONE CAN HELP ME FIGURE OUT WHY I AM IN FORECLOSURE STATUS WHEN I AM NOT BEHIND ON MY PAYMENTS. AT THIS TIME I AM UNABLE TO SCAN ANY DOCUMENTS SO I WILL FAX ALL DOCUMENTS TO CFPB TOMORROW
Company Response: Closed with explanation
2017-07-29
Bay Hills, NY
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-07-28
Elsinore, UT
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2017-07-27
Las Vegas, NV
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation