Fay Servicing, LLC

2017-07-05

Key Biscayne, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have submitted several applications for a modifications and have not received any written correspondence as to the status of the application. I have had the XXXX sale date postponed on several occasions and on XXXX / XXXX / 17 , the property was foreclosed on. This company , Fay Servicing h as send any explanation as to why the application was not reviewed. This property was deeded to me in divorce and I am not on the loan, but I submitted all financials and the divorce decree.
Company Response: Closed with explanation

Timely Response

2017-07-05

Houston, TX

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I am working to obtain a re-review of my modification request. I was offered a trial payment plan and required to come up with a {$7000.00} good faith payment. My mortgage amount was not adjusted down, due to my reduced income, but rather it went up. I am being kept in the dark about how the good faith payment was determined, and why I am being required to submit this. I have followed all of Fay 's requests to send documents, but they are not being transparent with me on all items. <P/>Previously, I qualified and made all payments under the HAMP program, but when I got to the end of the trial period, Fay mysteriously changed my account manager, and I was never sent my final documents to sign. My trial period ended in XX/XX/XXXX, but Fay stated they mailed my documents almost 90 days later, XX/XX/XXXX. These documents were never received by me at my home. They have a record of XXXX delivering something, but nothing was ever left at my home. When I asked them to please reinstate my HAMP modification and to work with me as consumer, they told me they would not, because the program was over, when in fact it is not, since I was already grandfathered in. They have only been focused on foreclosing on my home. Fay has denied me and my HAMP modification, along with being able to make those payments which I can afford at about {$800.00} per month. Fay has provided no written acknowledgement regarding my HAMP re-instate to this date. <P/>Fay Servicing reviewed my modification that I submitted at the same time I was asking for re-instate of my HAMP and then came back with the terms I referenced above, which they know that I can not meet. If I cant meet these terms, they are going to take my home. I have lived in my home for 16 years, I am a single parent and I have XXXX children. My plan is to keep my home, as we do not have anywhere to go and we can not live on the streets or in a shelter. I have worked extremely hard for my home, and have pleaded with them to please not force me out of my home by making it difficult to make my payments. <P/>I shared in a note to them that per my review and counsel, the current trial period terms are not a modification of my loan but rather appear to be repayment or forbearance schedule. I respectfully requested to be approved for one of the many programs they currently have to assist borrowers who are working to make payments and keep their homes. They have not responded nor have they provided all of the programs that I qualify for as of this date. <P/>I have incurred all kinds of foreclosure fees that I do not feel are right for me to pay and I would like those fees removed from my balance. I have requested what these fees are and Fay Servicing has not responded to this request as of this date. <P/>I am wanting to stay in my home, but it appears that they are trying to make it so difficult for me, so I will lose my home. <P/>Here are the items I requested in all fairness of Fay Servicing. This is directly from the letter i wrote to their appeals department : I have provided numerous documents, and my income currently does not support a monthly payment of {$1000.00}. I am respectfully requesting a re-review my income and my expenses. This is the amount I was previously paying before I requested this modification, hence the reason for asking for assistance. <P/>I respectfully request that my application be reviewed to offer me the following terms as part of a true loan modification so that I can afford my monthly payment : MODIFICATION TERMS REQUESTED : 1. My loan is a 30 year loan. By all guidelines, I qualify for a reduction in my current interest rate down to 2 %. My current interest rate on the loan is XXXX and your repayment plan offers no assistance to me. I am asking for your approval of this request. <P/><P/>2. Please obtain my current appraisal value and please offer to dissolve my delinquent balance. This is a critical item and I am asking for any sale date on my home to be permanently cancelled while we work on this piece. <P/>3. Please extend my loan to 40 years. Per guidelines, I understand that this can be done and offered to me immediately. <P/>4. Please cancel any good faith payment, as I am unable to afford any lump sum of this amount. Please provide the breakdown of how this amount was determined and why. I am working to save my home and it seems again extremely unfair and a predatory practice to require me to make this type of payment. I am not going anywhere nor I am planning to sell my home, so my good faith is exhibited in all of my efforts to be transparent and work to obtain a monthly rate that works for current income. When my income was higher and I had two incomes in my home, I could afford a {$1000.00} month payment. I can not do this at this time. <P/>5. My daughter leaves for college in just 4 weeks, as of XX/XX/XXXX. I am responsible for getting my daughter to college and I have no help in this area. I am asking for your mercy in requiring me to make any type of good faith payment of this amount. Any funds I have saved up will go towards helping to get her to college and provide for her books and necessities. I also will have to send money to her monthly and have included this as an expense for review. <P/>6. I do not have any additional monies put up anywhere. If I had them, I would not be literally begging you to reduce my monthly note to help me stay in my home. I am asking from the bottom of my heart, please please re-review my new application against my monthly income from my job and the other expenses that I have submitted.
Company Response: Closed with explanation

Timely Response

2017-06-28

Chicago, IL

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: In 2011, took out a mortgage that later ended up being serviced by Fay Servicing. I read the report that CFPB fined them up to XXXX XXXXXXXX for multiple failures to protect consumers such as was the case with me, used illegal practices among other violations. The report says Fay has to pay back that money to those consumers harmed by those practices. How can I be assured that Fay will reimburse me? All of the details of my case can be found by contacting XXXX XXXX XXXX. Fay never offered or informed us about mortgage relief when this first happened. Now, for the past two years, I have been trying to get a loan modification with Fay and they keep asking for documents, then they let them expire and then ask for them again and again .... all while they have a pending case pushing for foreclosure. My lawyer says they ca n't pursue sale while we are in the modification stage yet they continue to do so. Thank you so very much. I look forward to hearing back from you. And look forward to the hope of getting reimbursed for damages.
Company Response: Closed with explanation

Timely Response

2017-06-28

Chester, VA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-27

Corona, CA

Trouble during payment process

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-06-25

Peachtree City, GA

Closing on a mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-23

Carmichael, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-21

Lafayette Hl, PA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I owned the property and was keeping it and I moved to another area. I planned on keeping the property and sell it at a later date but I was in a serious accident and XXXX XXXX XXXX and was out of work for 10 months and could n't pay it. so I have been in the process of a short sale for a year now and my mortgage company wo n't agree to the buyers amount to pay for the home, the mortgage company want 's more than it was appraised for. So they said it will go to a sheriff sale, If that happens they wo n't get half of what the buyer is willing to pay. The buyer is being being very patient, .I sent all the requested paperwork to the mortgage company to show I do n't have the resources to pay for the house.
Company Response: Closed with explanation

Timely Response

2017-06-21

Lk Buena Vis, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have been with XXXX XXXX XXXX XXXX XXXX XXXX XXXX who is being serviced by Fay Servicing ; so all of my supporting documents were forwarded to Fay Servicing for their underwriters to ultimately approve getting me a mortgage modification. Over the years, their requested documents were sent multiple times as they became out dated due to the long review process. I was forced to file for suggestions of Bankruptcy to stop previous Foreclosure Sales giving Fay Servicing more time to work with my case, until the Court issued an injunction which prevented me to save the house. On XXXX/XXXX/XXXX the specialist I worked with had called to request more documents and on XXXX/XXXX/XXXX, the house was sold in a foreclosure sale. I believe the Bank was not in compliance when they sold the house while the documents were being underwritten. Please help me, CFPB.
Company Response: Closed with explanation

Timely Response

2017-06-20

Danville, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-16

Newark, CA

Written notification about debt

Debt collection: Mortgage debt

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

Timely Response

2017-06-16

SD

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: In XXXX , I repeatedly asked for a bill so that I can get caught up on payments of my mortgage fr om Fay Servicing in voicemails and also by talking to different representatives. At one point, I w as told that I would receive a bill in the mail but this was not received. On XXXX XXXX , I spoke with a representative and for the first time, was told I needed to request this type of information via email, which I have done. In the meantim e, Fay Servicing has b een racking up fees at a ridiculous rate. For instance, on XXXX XXXX the bill was {$6600.00}. On XXXX XXXX the bill I was told the bill is {$9600.00}, according to the conversations with the Fay repres entatives. However, I have n't so far received in writing an amount and what date that bill will be good through. In addition, I submitted a loan mitigation application in XXXX that I have n't heard a recent status on. Fay S ervicing is responding or not responding timely to voicemails I 've left in the past month, while they continue to rack up their high fees. I 'm aware of my rights as a loan mitigation applicant and potential federal RESPA violations that are occurring. In particular Fay is not resp onding timely to my requests for a bill so I can become current with payments. I am in contact with legal counsel on potential federal RESPA violations that have occurred.
Company Response: Closed with explanation

Timely Response

2017-06-15

Wallington, NJ

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: I tried on numerous occasions to try to set up a forbearance account with Fay Servicing and I even tried to do a loan modification with Fay Servicing, but I was consistently given the round around. Even on XXXX XXXX , XXXX , I submitted my application to them and I was consistently given the round around by the accou nt manager. Time after time, I emailed the account manager giving them the required documents e ven though I did that in my first application with them, but they wanted more and more documents that were even the required documents. They were delaying time because even time I sent them more and more information they said it took time to process. I had to constantly send in documents and I was on the phone many times and still did n't receive a positive outcome. I did n't even receive an outcome of whether I was going to receive a loan modification or a forbearance. I was hung out in limbo. I did n't even know that the account was switched to them because I had another loan servicing company by XXXX XXXX XXXX that I was working with from XXXX XXXX to XXXX XXXX , but even with them there was no result. No w Fay Servicing has me dealing with the Foreclosure program in XXXX , NJ due to them not working with me. I have a feeling that the intention o f Fay Servicing was for them to not work with me and make an attempt for me to lose my house.
Company Response: Closed with explanation

Timely Response

2017-06-15

Paterson, NJ

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-15

Lewisville, TX

Attempts to collect debt not owed

Debt collection: Mortgage debt

Debt is not yours
Complaint: I received a letter fro m Fay Servicing with a foreclosure filing 2 days before the foreclosure case was granted and closed and the foreclosure was filed by a different mortgage company. Prior to the day of me receiving the letter I had not been contacted by or even heard of Fay Servicing. XXXX XXXX , 2017 a letter was left at my residence on the door sweep, from someone from Fays Servicing, not via a delivery service such as US mail or anyone from a legal affiliate. Fay Servicing has reported a {$60000.00} balance for a mortgage on my credit report showing 90 days past due and has caused my credit score to severely decrease. The property that was into foreclosure balance was not even close to {$60000.00}. Please investigate this company for they have committed fraudulent activity.
Company Response: Closed with explanation

Timely Response

2017-06-14

Itasca, IL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Dear Sir or Madam, My name is XXXX XXXX . My hardship began when my children 's father walked out on me.I was unemployed and my left with all the bills and with the sole provision of my XXXX children. I worked part time meanwhile I searched for a full time job with flexible hours. I did not waste any time with my mortgage company, I faxed over a home affordable packet to be reviewed for a modification. Long story short I was denied various times due to not enough income to the point where I rented out a room for extra income and still it was not enough for them. XXXX of 2017 I finally landed a full time, well paid job with flexible hours.I make {$2600.00} monthly now and I was confident I would qualify for a modification but yet again I was denied because my loan was sold to a new investor and I was mailed out a letter informing me of this. Attached is the letter. I was notified yesterday XXXX / XXXX / 17 , by XXXX XXXX , accou nt manager from Fay Servicing, that I was approved for a short sale and he said I had until XXXX / XXXX / 17 to decide if I want to go through with a short sale or else I would be foreclosed on with a sale date within 30 days. I did not apply for a short sale, I want a loan modification. I asked about the new investor on my loan and he said t hat Fay Servicing bought my loan back. If they bought my loan back, then why are they not reviewing me for a loan modification? My home is severely under water! Attached is the letter XXXX sent about the short sale. All of this is very confusing and all they have said to me is very contradicting! I do not want to lose my home, it is all my children and I have. I struggled so much to keep my home and now that I am financially s table, Fay Servicing will not work with me. Please Help!
Company Response: Closed with explanation

Timely Response

2017-06-14

Bolingbrook, IL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-09

Discovery Bay, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: As the result of a family emergency, I requested that Fay Servicing halt my ACH mortgage paymnent for XXXX on XX/XX/XXXX . The payment was scheduled to come out my account, as usual, on XX/XX/XXXX . I was told on XX/XX/XXXX that the ACH would be halted and would resume as normal in XXXX . I told the account agent that I would make the payment prior to the end of XXXX , that I had to move some money around and that I needed a couple of weeks to do that. On XX/XX/XXXX , the payment was debited from my account. In reliance on Fay 's a ssurance that the payment was paused, there was insufficient funds in my account to cover the mortgage and my other obligations. I ha ve called Fay every day since the XX/XX/XXXX , sometimes twice a day, in effort to get them to make this right. In addition, I have emailed someo ne at Fay every day for the last four days to explain this problem and have included pdf attachments showing the NSF fees for that d ay. In the meanwhile, my account has been charged at least {$260.00} in NSF fees so far. Everyone I speak to promises to call be back, but over the course of four days, I received one call back, with no resolution and no one at Fay seems to be able to figure out how to resolve this issue.
Company Response: Closed with explanation

Timely Response

2017-06-09

Phoenix, AZ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-08

Ambler, PA

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-06-07

Glendale, CA

Trouble during payment process

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-06-07

Henderson, NV

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-02

Wonder Lake, IL

Took or threatened to take negative or legal action

Debt collection: Mortgage debt

Seized or attempted to seize your property
Complaint: Fay Servicing llc tr ying to collect a debt they took over the property the attorneys XXXX XXXX XXXX ordered to foreclosure the property on XXXX XXXX XXXX XXXX at XXXX XXXX knowing tnere is an active a bankruptcy protection.
Company Response: Closed with explanation

Timely Response

2017-06-02

VA

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: I have been trying since XX/XX/XXXX of this year 2017 when I was laid off until XXXX XXXX 2017 when I finally went back to work to get payments straight i got behind during the lay off and have been contacting and trying to get this straight I completed all the paperwork they sent me over and over because the keep saying things are missing I always catch up my payments after a lay off but they will not work with me they sent out a demand letter after i had been contacting them as soon as I knew about the lay off and that i would have to make up payments because i had no income during this time and all they did was send paperwork and keep asking for more and more and refusing to set up the payments they will not talk to me I am fed up with this company I know they can help me I have worked with other mortgage companies and they always help but I think this company is stalling so they can take our property behind out back I ca n't afford to lose my family and I have no where else to go we need our home we need help fighting this company and getting them to help us with catching up and getting back on track which can be done if they would just listen to us and help us get these payments paid oh the companies is FAY SERVICING LLC and they are awful we had a mortgage with XXXX XXXX and they sold or traded our mortgage to this company last year with out our knowledge until it was all done and we have had nothing but trouble ever since they are mean hateful people and will not discuss anything they just keep saying that they ca n't help because the demand letter has been sent out that is a crock XXXX XXXX sent out demand letters as well but they always helped us work out payments so we could keep our house this company is not out to help they just want to take everything I have worked hard for and I ca n't let the do this I need someone to listen to me and get this company to listen and quit saying there is nothing that they can do for us ..
Company Response: Closed with explanation

Timely Response

2017-06-02

East Elmhurst, NY

Closing on a mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response