Fay Servicing, LLC

2016-11-04

Maplewood, MN

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-11-02

Memphis, TN

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I was under bankruptcy and my mortgage was included in the plan. However, I became disable and my financial situation changed. Although my financial situation was different I still struggled and paid under bankruptcy for 5 years. And when I realized that I could not continue, I applied for a loan modification with my mortgage company and my bankruptucy was dismissed. I have now been under modification for 2 years and I was transferred to another servicer. Upon looking at my bankruptcy records, I discovered that the loan modification figures were incorrect, so before being transferred to the new servicer I contacted my then servicer about the deferred fees discrepancy along with my bankruptcy records as proof. However, they told me that they were no longer my servicer and I needed to contact my new servicer, even though this was well in advance of the transfer. Therefore, I tried to contact the new servicer for about three weeks even leaving messages after being transferred to an account manager, but was not able to make contact with them. So I sent a certified letter and then finally someone from the new servicer responded via letter and said they would look into the matter. However, when they did follow up it was a verbal response over the phone. I requested something in writing but I was told there was nothing to send. I was also told that I needed to send cancelled checks showing I had paid what I claimed to have paid which was over {$8000.00}. This is the issue, when the loan modification was first written up by the servicer, they used figures from my bankruptcy records. I filed bankrupcty in XXXX and ended in XXXX. The arrearage and deferred fees they used in preparing the loan modification were the same as when I first begin my banruptcy which was a little over {$11000.00} of which I paid over {$8000.00} as stated above. So instead of subtracting the {$8000.00} and the fees associated with it from the amount owed when preparing the loan modification, it was never done. So according to their records right now I owe over {$12000.00} with growing interest which will be due in full when my 5 years ends. So I will owe my mortgage balance of {$83000.00} plus over {$12000.00} ( whatever the interest will be in three more years ). And as for as my monthly notes, they are {$550.00} ( paying interest only ) and I have never been late since under modification for 2 years. Neither servicer has been fair with me. They are making me pay again, what I have already paid when I was under bankruptcy and attaching interest and fees on top of that. Please note : that while I was under bankruptcy not only was I paying arrearage and fees but I was also paying my ongoing mortgage payments of {$1300.00}. That was the hold point of going under a loan modification.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-11-02

Northridge, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-26

Groton, MA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I would like to file a complaint against Fay Servicing out of XXXX, TX. My loan transferred to them on XXXX XXXX, 2015 from XXXX XXXX Bank. XXXX XXXX transferred my loan with a lot of unanswered questions. I would like to know why my mortgage amount went from XXXX to XXXX, making it impossible to pay? Is that even legal? Also I met with some of President Obama 's Representatives from his XXXX Program at XXXX XXXX and XXXX in XXXX. They said that my mortgage was XXXX of the worst written ones they have ever seen. They said I bought my house for XXXX and have paid a quarter of a XXXX dollars for it so far and to make matters even worse, there is a balloon payment, a final payment for the entire amount of the note. How can my last payment be my entire amount of my mortgage? How could I even ever pay that? I 've paid XXXX for 15 years and owe more now than I 've even paid. How is that legal? They said it was purposely written so that I would never own my home. They also showed me where XXXX refinanced my loan twice and the XXXX settlements show my student loans being paid TWICE, totalling XXXX that are still on my credit report and never got paid. Where did all that money go? Why is it that no one is accountable for this? I ca n't get an answer from XXXX and in trying to, they escalated foreclosure against me. I have statements upon statements with astronomical fees applied for who knows what, since I have never been able to get an answer from XXXX. Fay Servicing says I owe XXXX. I 've already paid XXXX for a house I bought 20 years ago for XXXX. I ca n't get any answers from Fay Servicing and in fact they have escalated foreclosure against me. I am a single mother, I can not afford to hire an attorney to straighten this out and am very fearful that they are going to steam roll right over me and take my house since they have already started the process. I also reached out to the XXXX for help. Thank You, XXXX XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-25

Meadows Place, TX

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-25

Kings Mountain, NC

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-10-23

Lake Grove, OR

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-21

Dr Martin Luther King Jr, FL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-19

Bayonne, NJ

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-18

Houston, TX

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: My mortgage company transferred my acct with no notification To Me, Rather I did n't receive Notification from any parties.Plus I recieved a statement requesting payment from XXXX XXXX for XXXX due to them. I am late on my payments as of XXXX 2016 during this time. I had a money order made out to XXXX XXXX. I was n't able to pay XXXX XXXX due to the fact of the transfer and I was made aware of that on XXXX XXXX By a rep from XXXX. They gave me a phone number to the new company at that time. Fay Servicing. I made a call to them explaining my situation. I was told by a manager that I had a grace period and that I should have received a Goodbye letter from XXXX XXXX and a welcoming letter from Fay Servicing I did not receive nothing from either institution. I still had the matter of the money order made out to XXXX at no fault of my own. I was having trouble cashing it due to the endorsement. Finally after a week of fighting for someone to help with the Money order, I sent the payment with the info, I was given over the phone, By a rep from Fays Servicing.Then that Payment was returned from Fay servicing because of another error. So here we go again, I sent a email attachment of the returned payment to my Acct holder XXXX XXXX explaining what happened he never responded. I again requested I be sent a statement from Fay servicing in order to make a successful Payment I waited ... He claimed he sent me one.. NO he did not. until XXXX/XXXX/2016 I received it now all this time has passed. I call he is unavailable, If I miss his call due to no signal I will call him back failed communication, So I email no reply for days..But just to tell me he is missing info That later confirms he did receive. I also sent bank statements and info I was explained in the Borrow assistance form in which he continued to claim he never got, I re forwarded emails, I sent to him again he claimed he never received permission to speak to me thru emails ... again a lie.. ( He ) XXXX XXXX has not been checking his emails, I suppose, Before addressing me. So now it is XXXX/XXXX/16 I received a letter demanding full payment not taking into accord all the problems I asked for a supervisor, The info is not consistent with the info I get from XXXX XXXX. He is rude and seems to me like he has been stalling in order for me to lose my home. I am out of work, I am also struggling with illness, I have a XXXX case still open with XXXX, I do not believe that all these troubles are being considered as far as XXXX XXXX one minute saying he never received my emails with the documents needed to apply for assistance of deferment. While I am on the phone he then will acknowledge he received them. I spoke a week ago past to a supervisor again complaining of the lack of help from XXXX XXXX, she told me they needed a form, I immediately sent it. she acknowledged the receipt of said documents .Today again, I received a call denying he received the documents ( HE ) requested them again, then I went on to say Oh, it was a over sight on his part, can you repeat that then he told me I was being argumentative and he was n't going to listen to that. I was simply trying to bring to his attention that he fails to acknowledge my emails with all said documents, Instead killing much needed time to avoid the default letter. Also after the payment that was returned I attempted to make a payment online in which debited the full amount owed XXXX in which I was trying to make a {$700.00}. payment I had to stop payment due to the ( error ) it was on a Friday and I was not aware it debited that amount until Monday when I called ( Customer Service ) said they could not help me, that I needed to talk to my bank and stop Payment in which I did, Now they are charging me {$10.00} for Nsf?? I believe this a scam I do not know what to do at this point?
Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-05

Bellaire, TX

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: I had problems paying my mortgage, I applied for modification and sent all fay servicing asked for. I called several times to find the status, the account manager kept saying that she will call me to tell me she had an update. I received a letter on XXXX XXXX that I was not approved. That letter was sent out on XXXX XXXX 2016. When I called My account manager said that she did not received anything yet, she checked and she saw the letter and confirm that i was not approved for modification, because I did not make enough money to maintain my house. She told me to sell it and get another cheap house. I said that I was going to rent one of my room to get more income. She asked me for a contract and proof of the money my new tenant gave me. I sent all she asked for on XXXX XXXX. The foreclosure was schedule for XXXX XXXX, 2016. I asked her several times if the foreclosure will be on hold, she stated it will. I email to her and her manager to make sure that they received the documents I sent and they never replied. so, I had a feeling that she was not telling me the thru. so, I borrowed money from a friend so I had {$7700.00} on my account ready to pay on Friday XXXX XXXX. When I call my account manager she said not to worry that the foreclosure will be on hold. I said that I want to make a payment, she insisted that everything was fine. on XXXX XXXX she called me after XXXX and said that I was not going to be approved with the appeal because we did not have enough time and that I needed to pay {$7700.00}. I had to leave my job and ran to the bank and make that payment. I believe that Fay Servicing are very unprofessional and that they want me to have my home foreclosure. After I made my payment I sent an email to proof that I made the payment. Finally I received an email from the manager saying thank you for the payment. I was told by my account manager that they were not aloud to replied the emails, but I made the payment and they replied to my email. This company is a reap off, they DO NOT help their customers. I am very unhappy with them, and I am going to do anything to have my mortgage with another company.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-10-03

Wallington, NJ

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I had a loan with CitiMortgage dating back to XXXX. My family experienced some financial difficulty and had to file chapter XXXX bankruptcy, this dates to XXXX. Part of the agreement with the court was that XXXX would agree to modify the loan. After some trouble they were able to modify the loan and reduce the pricnipal balance by approx. XXXX. The stipulation was that they would agree to the principal reduction as long as I made my payments on time and each year on the anniversary they would take off XXXX of the balance off of my principal. The first yer went fine and they reduced my amount owed XXXX and change. The next year my loan was transfered to a different servicing agent. And then later in XXXX the loan was transfered again. So somewhere the information about this modifcation agreement got lost. I have the original agreement and I 'm sure if was filed with XXXX XXXX based upon the fact that my loan amount, term and rate all changed. My current loan servicer is not be very helpful. I sent an email to their depoartment with no response. My account manger says there is not direct number for the department that would handle this issue. I also wrote a letter to the compnay with a copy of the modication without any response. Now I am getting very frustrated as my principal reduction period is over and I may be looking toi sell the home within ghe next XXXX24 months. This would be a major issue when the pay off comes in XXXX higher than it should.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-28

Bham, MI

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-26

Galeville, NY

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-23

Defreestville, NY

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-15

Del Sur, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-15

City Industry, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-14

Brookside, NJ

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: In XXXX of 2015 we received a HAMP modification for the XXXX XXXX damage to our property. This lowered the mortgage interest rate down to 2 %. The stress from the disaster eroded our marriage and we filed for divorce in early 2015 which caused us to miss payments. Our loan was transferred to Fay Servicing from XXXX XXXX who is a predatory lender. They said sign the loan modification docs or they will foreclose, they raised the interest rate from 2 % to 5.75 % in an attempt to make us abandon the property and sell it themselves. We are currently making trial payments at the higher interest rate but can not sustain them for much longer, please help.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-12

Jamaica, NY

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-12

Worcester, MA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-07

Birch Run, MI

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-07

Nyc, NY

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: After three failed attempts to have Fay Servicing apply funds to outstanding late fees, I am submitting this complaint. I have contacted them three times by telephone. I have written them XXXX letters, as well. All to no avail. Currently, my account has a balance of {$160.00} sitting in an account that Fay Servicing calls, 'Suspended Balance. ' I also have an outstanding amount due in late charges of {$160.00}. I have asked Fay Servicing to apply the money in the Suspended balance to the outstanding late fees. To date, they have failed to do that. I tried reaching my account manager, XXXX XXXX, but she is not available. I did speak with her on XXXX XXXX, 2016. At that time, she told me that the money would be applied to the outstanding balance for late charges. That never happened. Today, I called Fay Servicing for the third time to resolve this matter. XXXX XXXX was not available. When asked to speak to her manager, XXXX XXXX, I was told he was not available but would call me. He has yet to do that. It should not take XXXX letters and XXXX phone calls to have a simply matter like this resolved. I also ca n't get an answer from Fay Servicing as to why their accounting system software can not apply the money in my account properly.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-03

Easton, PA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-09-03

Naples, FL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: On XXXX XXXX I received a letter from Fay Servicing informing us that they had acquired our loan from XXXX XXXX XXXX ( loan # XXXX ). The letter advised us that the first payment was due XXXX/XXXX/XXXX in the amount of {$1500.00}. Our payment had already been made in the amount of {$1500.00} which has been our payment since the loan was modified XXXX/XXXX/XXXX, never missing a payment and never late. I was assigned a contact manager with Fay Servicing by the name of XXXX XXXX. Phone # XXXX XXXX XXXX, email XXXXXXXXXXXX. I immediately contacted him by phone and fax as his email came back as undeliverable. I explained to him that our payment had been sent and received in the amount of {$1500.00} and asked why the increase in the payment. He told me it could be due to insufficient escrow. I advised him that our escrow payment was {$5900.00} per year and that our actual escrow amount was less than the paid amount. He suggested that I pay the difference of {$40.00} which I did ( confirmation # XXXX ) on XXXX/XXXX/XXXX. Our payment of {$1500.00} was returned to our bank on XXXX/XXXX/XXXX due to an invalid account number after receiving and processing our XXXX/XXXX/XXXX payment. Fay Servicing mortgage statement of XXXX/XXXX/XXXX shows payment of {$1500.00} was received but in " suspense ''. At this point we are not sure how much our payment is or if we are past due so we made a phone payment XXXX/XXXX/XXXX of {$1500.00}, tracking # XXXX. XXXX XXXX has suggested we ask for an escrow analysis which will take 30 to 60 days.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-02

Greenwood, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response