Fay Servicing, LLC

2016-08-01

Nyc, NY

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: This is the letter I submitted to Fay Servicing regarding property taxes that they paid on my behalf out of my escrow account, on a piece of property that I did NOT own. To date, they have done nothing to resolve the issue. RE : Property taxes being paid ( on our behalf by your organization ) to the City of XXXX for real property, which we do not own Property in Question : Borough : XXXX XXXX : XXXX XXXX : XXXX Entire Lot ( parking space ) Unit : XXXX Address : XXXX XXXX XXXX XXXX To Whom It May Concern, It has come to my attention that it appears that we are paying property taxes from our escrow account for a piece of property that we no longer own. ( Your company is managing our escrow account and paying these taxes on our behalf. ) On XXXX XXXX, XXXX, we sold our parking spot ( under said mortgage ), to another unit owner ( XXXX XXXX XXXX ) in our condominium building. I have attached copies of the the transaction and the transfer of the deed. The City Of XXXX appears to have recorded this sale properly ( see attachments ). However, XXXX, in their never-ending corporate incompetence ( which I have experienced multiple times with this mortgage ) sold you a mortgage to service which no longer contains this property. We originally purchased our condominium and parking spot together at the same time, both independent real property entities under XXXX mortgage ( the one we 're now paying through your organization ). We applied for, and were granted, a partial release of mortgage from XXXX. We were given permission to sell the parking spot, which we did. XXXX, in a very underhanded way, wound up keeping more than half of the net proceeds from the sale. Please update my mortgage documents to reflect that WE NO LONGER OWN THE PARKING SPOT under this mortgage. We have not held title to this property for more than a year. That means all the property taxes for the parking which that you paid to the City of New York on our behalf last year ( XXXX, as well as the parking spot property taxes from XXXX XXXX - XXXX XXXX ) are owed to us and should be returned to us. Also, DO NOT continue to pay property taxes on this sold property ( parking spot ) on our behalf. We no longer own it. If you have any questions, or need any additional documentation, please let me know. You can find all the documentation regarding this past transaction at the website for XXXX. XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-28

Highland Park, CA

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-07-27

PA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I have been in Chapter XXXX twice in order to save my house. I 'm at a loss of what to do.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-21

Katy, TX

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-21

Traver, CA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Complaint: *This is my second complaint on the same issue that has failed to get fixed* XXXX XXXX XXXX, XXXX, I recieved a letter from Fay Servicing that my mortgage had been transfered to them.In which my monthly payment stayed the same. I recieved a letter from Fay requesting evidence of fire policy on XXXX XXXX, which was sent to them. I then got a XXXX account disclosure statement which did not include collection of fire policy. I later got a check for {$100.00} stating that my property tax had went down and my escrow was over. I had been dealing with XXXX over the issue of not including my fire policy. He stated that my fire policy was put as a non-escrow item. In which I continued to argue with him about. When we purchased the home in XXXX, it was included. When the home went through modification, the fire policy was escrowed. In XXXX I got a cancellation notice from XXXX, that carried my fire policy. XXXX asked me to email him the cancellation letter and that this issue would be taken care of. I reached out to XXXX XXXX, that carried the mortgage before them and processed the modification. They sent me a complete Account Disclosure and history for the time they managed the loan, which stated that fire policy was escrowed. I knew that Fay Servicing was still not collecting fire policy as my payment went down. According to XXXX, they feel that " I benefited cause I had a lower payment '', when in reality, they payed the fire policy in XXXX, that actually made my escrow go into negative. Upon talking to XXXX several times to fix this, it never was and when I received an account disclosure in XXXX, homeowners policy finally showed up. By this time, my escrow was now {$1400.00} in the negative. They payed XXXX and XXXX homeowners without properly escrowing it. I then started working with XXXX XXXX at XXXX. My monthly payments were now increasing because of the negative in my account. I reached out to XXXX in XXXX XXXX, in which they contacted XXXX to assure him that Fire Policy was and always had been an escrowed item. I spoke with XXXX at XXXX, asking that Fay reach out to them so they can confirm that it was also an escrowed item. Unfortunally, XXXX called XXXX and he " claims '' that XXXX from XXXX never called him either. Upon much frustration and going in circles, XXXX came back with a little solution. They would take the negative escrow and stretch it over 60 month, so my monthly payments can stay lower. In XXXX XXXX, the Account Disclosure came, with another high increase in payment. Demanding payment of the negative escrow, which is now {$1900.00}. I had asked, if I was working on paying down the negative this past year, why has it increased? Upon speaking with XXXX at Fay Servicing, my escrow payments were {$18.00} short every month! My monthly payment was already going up beacause of the maturity of the modification. Since then, I have had Making Loans Affordable working them cause they havent complied with the agreements of the modification. There is only so much they can do and they are getting the run around with Fay. Today, I recieved a call from Fay Servicing, advising that my monthly payment will now increase {$150.00} cause of the negative in escrow for taxes and homeowners. I have called numerous times, seems like a different person handles my loan everytime I call. We worked REALLY hard getting this home modified when my husband lost his job, so we could stay here. Getting the monthly payments affordable. Fay Servicing has made this very hard with the lack of professionalism and owning up to their mistakes and fixing the issues. They continue to say that someone has to pay for this, I honestly can not afford to continue to pay for their mistakes.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-07-20

Danbury, CT

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-19

Green Acres, FL

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-19

Wonder Lake, IL

Disclosure verification of debt

Debt collection: Other (i.e. phone, health club, etc.)

Not given enough info to verify debt
Complaint: I requested a verification of the debt they are trying to collect I already Sent 3th Verifications of debt letters today I ', m sending the 4th validation letter.And I never receive any Validation of the Debt Isent, FAY SERVICING LLC is trying to collect a debt I never engage with them they are trying to collect a debt. I dont Owe I never have any kind of business with FAY SERVICING LLC conpamy thewrefore I need your help. see attached documents
Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-18

Federal Way, WA

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: I purchased my home XX/XX/XXXX in the amount of {$360000.00}, with monthly payments of {$2200.00} at a 30yr fixed interest rate of 3.25 % ( FHA ) In XXXX XXXX I had an accident that left me XXXX and I fell behind on my mortgage for 18 months. In turn that put me roughly {$41000.00} behind. Due to this my home was facing foreclosure and I got in contact with XXXX XXXX XXXX who was at the time, servicing my loan. They walked me through the process to start the HAMP modification. In XXXX XXXX I was approved for HAMP, which increased my monthly payments to {$2300.00} and was placed on the trial period for three months, which ended XXXX XXXX. I was informed over the phone by XXXX XXXX that my new payoff amount was going to be {$390000.00} and with that new information I decided to put my home on the market. After my home being on the market for close to 90 days I received potential buyer and we all decided to agree on the sale of {$470000.00}. I agreed to these terms based off of all the information that I had ... .. Home loan amount of {$390000.00} Lien on property {$20000.00} {$65000.00} to cover closing and moving expenses for me and my wife, which we are separating. The home was going to be closing on XXXX XXXX XXXX and My wife and I would be able to walk away with roughly XXXX to separate. On XXXX XXXX we received a letter from our new mortgage holders Fay Servicing informing us that our new payoff amount had increased to {$440000.00}. To my surprise, I was concerned about the sale of my home and how I would not have enough money to cover all of my expenses and I would be walking away still owing large amounts of money, I contacted XXXX. XXXX informed me that they could not give me any information regarding my account as it was closed when they transferred my loan to the new holder, Fay Servicing, on XXXX XXXX, XXXX XXXX then stated that I could go ahead and try to get into my online account and see if any information on there would be helpful, so I did. On my online account I found that XXXX XXXX had released my loan to Fay Servicing in the amount of {$340000.00}. At that point I started to do some quick math in my head and was starting to see that the numbers were not adding up. I contacted Fay Servicing with my concerns and XXXX XXXX informed me that they did not have any of my modification paperwork, with that I asked for a breakdown of fees, principle amount and payoff amount. XXXX then told me that it would take up to 7 days for them to get that information to me, All I had to do was submit in writing that I needed this information. So I did. In the meantime while waiting for the paper to come in from Fay Servicing I am realizing that I do n't have the money to move and so I stayed in contact with my realtor XXXX XXXX so that he would be updated on the status of selling my home. The potential buyers sold their home and were waiting for any updates on my end. I was in contact with a few HUD counselors and trying to weigh out all my options. On the XXXX day I got a single page email from Fay Servicing which only indicated the new payoff amount of {$480000.00}. I was taken back when I seen that not only did I owe a large amount of money but I had " XXXX '' equity left in my home. I have yet to understand why {$90000.00} extra was added onto my loan, with an original principle balance of {$340000.00} and {$41000.00} in late payments. I still have not received any final documentation stating the terms of my HAMP loan and I am not getting any help from either party. I do n't feel like I should be paying {$480000.00} for a home that was only appraised for {$470000.00}. At XXXX I consulted with an attorney and he requested that I contact the state and federal authorities regarding a potential case of home equity fraud. To the best of his knowledge the numbers do not add up and something is wrong XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-14

Oceanside, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-14

CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I filed a complaint they responded to you but seems they are still charging me a {$60.00} fee over my normal payment. they cashed two payments that I subtracted the {$60.00} from but did not apply and charged a late fee. I am unemployed, have no phone and am out looking for work. Of course I did not answer my door but that does not give a takeover lender the right to charge me. Send me a letter. they do not have the right to assume everyone has a phone or a computer, I do not I am writing from a friends home and that is not always the case. I show my payment as {$1900.00} so how many {$60.00} charges are they adding. That is what needs fixing. I mailed XX/XX/XXXX payment on XX/XX/XXXX and they still have not applied payment yet I put the contentious {$60.00} in the payment so why is it not applied yet for XX/XX/XXXX. These folks are overcharging me late fees when they have the proper payment per my records as the {$60.00} was added and not removed in XX/XX/XXXX seems they are feeding you a story as I have paid {$1900.00} for months and then they added the $ XXXX.to this payment I am looking at my XX/XX/XXXX statement and they have the XX/XX/XXXX payment of XXXX in suspense with an added late charge of XXXX How, the payment went up when they supposedly added this door knock charge? send a letter if you want a response that is what real businesses do. I am so disgusted and I want help. If the payment is XXXX then they need to explain it better and I will send the difference but they can not keep my money AND charge me late fees I am not a bank. They need to be a bit more transparent on their charges and they are vague. How does a payment go up without a breakdown. The current breakdown shows a XXXX payment then the statement comes as XXXX what am I supposed to think. I refuse to pay late fees do to their non transparency. If my payment is XXXX fine, I want a breakdown. Since my Taxes are under {$6600.00} annually why are they collecting in escrow {$7100.00}? where is the transparency. Have them send me a letter if they have questions, it is not ILLEGAL in California to not have a phone. very sad. Please have them send a bill showing the money I owe for which I believe is {$120.00} but will refuse a late charge as I was on time and wrote on every statement for an explanation and received nothing but more nonsense that they sent you. I also do not believe it is legal to charge more than what the taxes actually are in an impound account but yet they are If they paid {$4400.00} for my taxes as the bill is {$3200.00} twice yearly. Have that explained also.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-14

CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: On XXXX/XXXX/XXXX Fay Servicing assumed my mortgage from XXXX XXXX XXXX. On XXXX/XXXX/XXXX, Fay debated my escrow account {$1600.00} tax disbursement presumably for the XXXX XX/XX/XXXX property tax installment due to XXXX XXXX County on XXXX/XXXX/XXXX. However, XXXX already made the {$1600.00} tax payment on XXXX/XXXX/XXXX prior to transferring my mortgage account to Fay. This information was provided to Fay by XXXX with the loan 's transfer document. Fay caused a double payment to the tax collector. I have contacted the XXXX XXXX County Tax Collector to inquire about the double payment and was informed that : ( 1 ) they have no record of over payment ; ( 2 ) They only have a record of payment of {$1600.00} from XXXX and no record of any {$1600.00} payment from Fay for the XXXX/XXXX/XXXX installment. Fay took {$1600.00} from my account under the pretext of tax payment and kept it to itself.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-13

Pinellas Park, FL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-12

Chandler, AZ

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-08

Allenwood, NJ

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I XXXX XXXX received a notice from XXXX around XXXX XXXX. This letter i docT XXXX an amended complaint to add Legal Trust BY US Bank Ntional Assocition Personal Representatives vs XXXX XXXX et al. I am the alleged investor where I own these investments as 3rd party beneficiary thorugh my ownership through XXXX, and my barcley shares and through XXXX XXXX XXXX and XXXX. What the problem is these investments are unsecured debt and that is supported with my claims with the IRS Criminal Division which are attached dated XXXX XXXX, XXXX. These assets were backdated and never funded the trust and would be subject to 100 % tax penalty and there are multiple servicers. That is supported with the XXXX XXXX letter dated XXXX XXXX, XXXX where XXXX is the servicer and another letter from XXXX XXXX dated XXXX XXXX, XXXX from XXXX XXXX where XXXX is the servicer. XXXX XXXX did assignment on XXXX/XXXX/XXXX where she backdated the assignment not complaint to the tax code to fund trust XXXX CFR XXXX XXXX REPORTING WHICH IS GOVERNED BY NY LAW AND FORM XXXX FROM ORGINATION OF TRUST TO THE TRANSFERS TO DATE FORM XXXX FILLED XXXX/XXXX/XXXX XXXX XXXX XXXX FORM XXXX FILLED XXXX/XXXX/XXXX XXXX XXXX XXXX XXXX, XXXX XXXX AL FORM XXXX FILLED XXXX/XXXX/XXXX XXXX FORM XXXX FILLED XXXX/XXXX/XXXX MERS THERE are multiple mortgages on this house unsecured debt and supported by the XXXX XXXX case. this matter is being disputed under the fdcpa i need complete history under qwr and diligent inquiry and any forced placed insurance and distued under sox act sec XXXX and other sttures ture act as me being an investor and the trustee indebture act and filling false and misleading states i also must point out i am the expert under rule XXXX and sincece where such assignments are not produced are admission of guilt under XXXX v. Texas. since a fiduary responsibility is required to file such tax forms and you now know these debts are unsecured qnd sending false and misleading information is allegedly mail or wire fraud. I also did receive credit offer from XXXX XXXX which is on file with the CFPB already. The amounts are false and misleading as well and possibly forced placed insurance.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-07-06

Inglewood, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-07-06

Glendale, WI

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-05

Chicago, IL

Settlement process and costs

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-03

Discovery Bay, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-06-30

NY

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-06-29

Lemon Grove, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-06-28

Los Angeles, CA

Disclosure verification of debt

Debt collection: Mortgage

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

Disputed: No Timely Response

2016-06-28

Gretna, LA

Loan modification,collection,foreclosure

Mortgage: Home equity loan or line of credit

Complaint: Fay Servicing cancelled the debt on a secondary ( charged off ) mortgage they ( presumably ) acquired from XXXX ( Originally written by XXXX ). Now I am trying to sell the property, and they are refusing to acknowledge they ever held the loan, despite having filed the cancellation of debt XXXX with the IRS. I have called, emailed, sent certified letters and my congressman even called them. I am completely at a loss as to how to proceed, with all the other involved companies out of business.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-06-28

NC

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: I currently have my first mortgage with Fay Serving. I fell behind on my mortgage payment originally when I went out on medical leave for XXXX XXXX XXXX. I was out of work for 8 weeks and only received 60 % of my pay while on short-term XXXX. During that time period, I was unable to make all of my monthly payments and fell behind. I have been trying to catch up ever since. I tried to make partial payments during this time period and they sent the check back to me. They stated they would not accept anything less than the full amount due. I finally went to my credit union on XXXX/XXXX/XXXX for help and my credit union helped me by consolidating my delinquent car loan and personal loan. I was able to save over {$300.00} per month. I was delinquent {$4500.00} on my mortgage at this point. I admit, after the XXXX, I felt overwhelmed and defeated. I did n't know how I would ever catch up. On XXXX/XXXX/XXXX, my credit union called Fay Servicing on my behalf and we filled out the paperwork for the " Borrower Assistance Form ''. I completed over XXXX pages of forms and faxed them around XXXX pages of supporting documents ( tax returns, paystubs, checking account statements ) to get help in modifying my mortgage. It took them 2 months to FINALLY get back to me with their decision. I faxed everything on XXXX and they sent me a letter on XXXX/XXXX/XXXX. After they reviewed the file, they denied my request for a loan modification. In the notice they sent me, they never sited the reason for the denial. They just stated " Thank you for contacting us about your mortgage. Based on a careful review of the information you provided to us, unfortunately you are not eligible for an alternative to foreclosure ''. I called on XXXX/XXXX/XXXX and spoke with XXXX XXXX and she sited the reason for denial was because " I did n't make enough money and my house was worth less than the amount I owed ''. Before they sent this notice of denial, they sent an appraiser ( drive-by ) and they valued my home at {$110000.00} ( suggested list price ) and {$100000.00} ( sales price ). I originally purchased my home XXXX XXXX for {$95000.00} and financed my home for 40 years. My current interest rate is 6.250 %. I currently owe {$89000.00} as of XXXX/XXXX/XXXX. They told me they were beginning proceedings to foreclose my home. I was panicked and contacted my mother for financial help. I did n't know what else to do. I was in fear of losing my home. My mortgage payments are {$640.00}. If it was n't for my being out of work, I would be able to meet my mortgage obligation. After I brought the loan current on XXXX/XXXX/XXXX, they STILL tried to charge me XXXX late payments. I had to call them and argue with them to remove those XXXX late charges. After paying {$4500.00} on XXXX/XXXX/XXXX, the principle on my loan went from {$89000.00} to {$89000.00}. So, basically, after paying close to {$5000.00} on my mortgage my principle balance was only reduced by {$540.00}. I 'm writing this official complaint because I feel that this company is very deceptive in their business practices. I do n't understand how after submitting all of my documentation, they could n't help modify my loan in any way. First, I feel that a 40 year mortgage is deceptive on it 's own and paying a high rate of interest 6.250 % is an unfair lending practice. I would like this company to reduce my interest rate and the term of my loan so I am not in debt for the rest of my life. I also would like to know exactly what I paid in late fees. When I look at my account online, I am unable to see this information. I am asking for your help to understand why only {$540.00} went to principle and if this company will modify my loan to provide some ( ANY ) financial relief. I am very upset about how they could not offer any assistance during the past two years. Thank you for your consideration. XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-06-23

Bowie, MD

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response