Fay Servicing, LLC

2017-02-06

Washington, DC

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-02-04

ME

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Our mortgage started out with XXXX Mortgage Company in 2007, then was sold to XXXX XXXX. We have had some difficulties with our mortgage due to insurance that was added even though we had homeowners, which went to litigation. We did eventually receive funds back, but then our loan was turned over to XXXX Home Loans, now Fay Servicing. When we were with XXXX, I received notice that the city was putting a lien on our property due to non payment of our property taxes. We paid escrow payments every month, faithfully to cover our homeowners insurance and property taxes. This was not being done until I called XXXX and asked them about the issue. After our taxes were caught up, our loan was turned over to Fay Servicing. Fay informed us that our monthly house payment is going up over {$100.00} a month due to an escrow shortage. This puts our mortgage payment up significantly and will be hard to pay every month. Please, can you help us to understand what has been happening to our escrow payments that we paid every month? This is our complaint and plea for help! Thank you for your time.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-02-02

Fort Lauderdale, FL

Disclosure verification of debt

Debt collection: Mortgage

Not given enough info to verify debt
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-31

Kendall, FL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-27

Bluffton, SC

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-27

AL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Complaint: The condo at XXXX, XXXX, FL XXXX was abandoned by the owner in XX/XX/XXXX, and has sat empty since. XXXX held the mortgage, and repeated attempts to get them to foreclose failed. In XX/XX/XXXX the mortgage was sold to XXXX. After nine years the condo fees for this unit now total more than {$100000.00} ... an expense that has had to be shared by our 39 other owners. This particular condo was bought at the height of the real estate boom, and it is unlikely the property value will ever return to that level, especially considering a new subdivision next door will soon block our view of the water and lower the property values. Bottom line, the likelihood of the bank making a profit on this mortgage would seem to be very slim. Our 39 other owners have had to pick up the fees and expenses on this unit. Since several are XXXX, this has been a hard financial burden. It has been nine years since the owner abandoned the condo, and several legal attempts to get the foreclosure process started have failed. It makes no sense for any bank to continue paying property tax while our owners assume the expenses of this unit, with no end in sight. A foreclosure will at least end what is a money losing proposition for all parties. We respectfully request that those with the power to start the foreclosure process do so in order for the unit to be sold. We realize we will lose most of the fees, but this will at least put a new owner in the unit, one who will assume their fair share of the complex expenses.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-27

Dallas, TX

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-27

Overbrook Hills, PA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-25

Lawncrest, PA

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-25

Palos Park, IL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: I had a mortgage on my building and my Mortgage Company failed to allow me the opportunity to refinance my property instead of foreclosing on it. They would not decrease the monthly payment so it was not feasible for me to make payments. The offer they made was more than what came in from rent.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-22

Edgewood, WA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2017-01-21

Englewood, FL

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: This is an ongoing problem : Previous case # ( s ) XXXX & XXXX. Attached are documents from Fay Servicing, who are the new mortgage service company for my loan. Transfer of service was on XX/XX/XXXX from XXXX. Ever since XXXX took over the loan back in XX/XX/XXXX, constant problems have continued as stated in previous cases aforementioned. According to XXXX, I am in arrears by XXXX month payments. Attached are copies of recent statements and XXXX ( XXXX ) months of canceled checks. The second issue is with flood insurance. Fay insist I have no flood insurance when in fact XXXX letter confirms the coverage. Third : XXXX and Fay have been including escrow fees and as stated in A letter dated XX/XX/XXXX, the account is non escrow. I want this account corrected and all escrow, insurance late fees etc monies refunded. This is also is causing a negative effect my credit score Please HELP!
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-17

Ridgewood, NJ

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-17

Burien, WA

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-12

TX

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: Our mortgage was bought by Fay Servicing. We were told that the process would be easy and we would have an account manager that would handle our file. That was XX/XX/2016. We started out behind in payments since I never received the welcome packet to tell me who to call or where to send payments. Fay Servicing does n't offer weekly payments, so that put us in a bind. I asked for a loan modification and was told I would get a call from a loan specialist and never did. We started falling behind and I emailed and left messages for our account manager no return call or email. Finally I found the Loss Mitigation Package paperwork, filled it out and sent in all documents. I have since been contacted via letter wanting more info, and once by email by our account manager for a more recent check stuff and bank statements. Now they are sending people out to make sure we still live here like we are going to just run off, we want to keep our house they are the ones that are none responsive. We need help, Fay Servicing does n't contact their customers and the account managers must have too many files to deal with, because ours takes weeks if not months to contact us back if she does at all.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2017-01-11

Beach, VA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-11

Brooklyn, NY

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-10

Moorpark, CA

Settlement process and costs

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-10

Cheverly, MD

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-08

Paterson, NJ

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-05

Academy, NJ

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I have owned my home for nearly 25 years and am facing a foreclosure sale due to a non responsive lender, Fay Servicing. I have tried repeatedly the last couple of years to resolve my mortgage delinquency with Fay, but my requests for help have been ignored, reviews have not been opened, they have sent people out to shake me down -- one time they actually had a company come and break into my home and shut off the power and disconnect the utilities!! They have done everything except what they are supposed to do, which is WORK WITH ME! I make a good living, I am a self employed entrepreneur and never had any issues making my payments until I had major problems due to XXXX. I was in and out of the hospital and literally missed a full year of work. On top of that the medical bills were devastating and I fell behind on all of my payments. I wanted to save my home and since I had a XXXX loan I believed that my lender would work with me. I began the process of review for a modification but before the review could be completed my loan was transferred to another company. I began the process again and submitted the necessary documentation for review and was starting to get traction when once again my loan was transferred to another company ( Fay Servicing ). This was beyond frustrating as the delinquent amount continued to grow. Fay Servicing told me they would not work with me and that I needed to pay the full past due amount to them or I was going into foreclosure. I am not in a position to reinstate the loan, but I do make a good living and I have been told there are multiple programs available for struggling homeowners through XXXX program, yet Fay Servicing has never ONCE reviewed me for any of these programs or given me the opportunity to be considered for help. Fay Servicing was also the recipient of {$70.00} XXXX dollars in bailout funds and I thought they were required to consider me for the government modification programs. I have tried multiple times to resolve this matter and work towards a solution, but feel that I have been obstructed at every turn. I am asking for the actual opportunity to be reviewed for all programs so that I can save my home.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-05

Occoquan, VA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Approved for tax exemption program with my county ( located in XXXX in the state of Virginia. Lender is still currently charging me for taxes even though county and HUD approved Housing Counseling agency has submitted documentation showing where we are now exempt.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-04

Baltimore, MD

Loan servicing, payments, escrow account

Mortgage: Home equity loan or line of credit

Company Response: Closed with explanation

Disputed: Yes Timely Response

2017-01-04

Williamston, MI

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-31

Scottsdale, AZ

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: The Service company for my mortgage has repeatedly audited my escrow determining shortages two years in a row and will not provide documentation to explain the shortages. They do not return phone calls and emails. Fay Servicing keeps changing the account representatives. Managers do not return phone calls or emails. Twice I have been put into forced-place flood insurance when they did not renew with the provider and it has resulted in my payments nearly doubling. Because the property tax and insurance is paid from impound escrow holds, I do n't even get to see when and where these payments are made. I have asked to stop impounding for these payments and they refuse. My original loan with XXXX has been sold once or twice and the servicing company has also changed. I have never had any problems with the previous service company ( XXXX ), but I continue to have issues with Fay Servicing. I have asked them for the name of the previous flood insurance provider so I can switch the insurance back to that company from the forced-place and they refuse to provide the name. I have also requested the name and contact person for the note holder and they also refuse to provide that information. I have been hospitalized multiple times in the past few years and the XXXX Fay Servicing causes me is overwhelming. During the past two years after Fay Servicing has claimed shortages and my monthly payments have increased, I requested information to determine why there are shortages and they refuse to provide me the answers. I do n't even get a call back or response until I hold back making the payment. Once the payment is deemed to be late, only then do I get any response. Instead of getting me the detail I request, they have harassed me with multiple calls and correspondences and add late fees. This company does not work in good faith or with any sort of professionalism.
Company Response: Closed with explanation

Disputed: No Timely Response