Fay Servicing, LLC

2016-05-11

Jersey City, NJ

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-11

Laguna Beach, CA

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-06

Fowler, MI

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-06

Chicago, IL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-05-05

Itasca, IL

Credit decision / Underwriting

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I am submitting a complaint with Fay Servicing and XXXX XXXX XXXX due to their malpractice. In XXXX 2015 I was granted trial payments and an acceptance for SAM modification due to the XXXX dollar settlement for principle forgiveness modification by XXXX. During the time XXXX transferred my account to Fay Servicing. Fay Servicing asked me to re apply and when I did I was granted a higher trial payment. I explained the situation to Fay Servicing and provided proof. Even with the proof that I submitted Fay Servicing they could n't find the approval. I have discus this numerous of times with Fay Servicing and they still refuse to approve it because it is something that only XXXX could grant. It is unfair and unjustly what XXXX has done and that is to transfer my file after it got approved. I have provided all documents needed. Thank you for your assistance.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-05-05

Washington, DC

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: My mortgage was sold twice apparently, in quick succession, around XXXX XXXX. I received mail from XXXX different companies that they both now had my loan, and when I called the XXXX company, XXXX, it appeared I was not in its records, then I received a lot of mail from Fay Servicing. Fay was not up-to-date with its records in XX/XX/XXXX, so I mailed check # 1 on XXXX XXXX, XXXX to cover XX/XX/XXXX and XXXX XXXX ( {$840.00} ). Fay processed my XXXX XXXX payment by XXXX XXXX, XXXX, check # 2 ( {$420.00} + {$30000.00} additional principal ). I have a picture of the check/slip before I mailed it. My XX/XX/XXXX Fay interest/tax record came in the mail and it appeared correct ( it seemed like 3 months of interest ). I paid by phone on XXXX XXXX, XXXX ( # XXXX, # 3 payment ever to Fay ) and the recording was not giving me an accurate due date for the payment. I looked on the back of the monthly statement mailed to me and it stated a {$25000.00} principal reduction and {$5400.00} payment applied. That would mean I would have over 12 months of payments PAID IN FULL and this does not match with the XX/XX/XXXX due date that Fay keeps mailing me. This makes zero sense and does not appear to match the payment breakdown on the front of the XX/XX/XXXX monthly statement, {$29000.00} plus {$710.00} interest. All the monthly statements dated XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX all said payment due XX/XX/XXXX. XXXX, the incompetent account manager assigned to this loan, was giving me different numbers that were in the Fay system that did not match the monthly statements numbers when I spoke to him. This was during the week ending XX/XX/XXXX. I asked for the numbers that were in the system to be mailed to me ; he refuses to call me and deal with this. He said that he would have to do the next phone payment so that it is applied correctly but he never called me so that I could make a payment. I called Fay again before I submitted my XXXX taxes XX/XX/XXXX, week ending XX/XX/XXXX, and I got another rep who said he would discuss this case with XXXX and someone would get back to me. XXXX called me at work on XX/XX/XXXX at XXXX EST, hung up, then I hit redial and got his voicemail. I left him a message but have not heard from him. I called on XX/XX/XXXX and got a rep who I asked to be transferred to XXXX 's supervisor, XXXX, and I left a voice mail. I have received a bill dated XX/XX/XXXX that I owe a {$21.00} late charge for XX/XX/XXXX and I received the latest monthly statement with a XX/XX/XXXX due date.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-04

Fort Pierce, FL

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-04

Gloucester City, NJ

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Complaint: My loan from XXXX XXXX XXXX was sold to another lender when the DOJ Settlement happened so they did not have to modify my negative amortization loan. The new lender servicer has refused to modify my loan even though they have all the information they need. They are proceeding to foreclosure without mediation, acknowledging my loan mod docs, or even a large down payment to reinstate my loan. The attorneys for them are a foreclosure mill and will not acknowledge receipt of any information. I would like a mediation or intervention to resolve the case.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-04

Barrington, CA

Cont'd attempts collect debt not owed

Debt collection: Mortgage

Debt was discharged in bankruptcy
Complaint: Condo was returned to XXXX in Chapter XXXX BK discharged XXXX XXXX, 2013. Fay Servicing bought a pachage of properties from XXXX has has been sending collection letters, phone calls and refuses to tell XXXX County Assessor that the condo is NOT owned by me
Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-02

Hanceville, AL

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: XX/XX/XXXX, XXXX sent my loan modified mortgage to Fay Servicing LLC. The assigned account manager, XXXX XXXX, advised XXXX XXXX, that I not send my arranged monthly payments to Fay ( based on XXXX 's calculations ) because Fay had not received all my paperwork. XXXX XXXX was late at sending out new paperwork for me to apply for the same loan modification with Fay. I received Fay 's paperwork XX/XX/XXXX/XX/XX/XXXX. I re-applied with Fay and was denied due to the paperwork not being received in a timely manner. An appeal was requested. I was assigned a new account manager in XXXX XXXX. All paperwork required was submitted in a timely manner. I have now received a foreclosure notice scheduled for XX/XX/XXXX because Fay has not approved the loan modification, even though the loan was modified when they received it and payments were being made.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-30

Bham, MI

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Dear Representative, Have requested Mortgage Servicer to correct mailing address several times during the year. Missing monthly statements. Also, requested information on modification.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-27

Wonder Lake, IL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Complaint: I previously was the owner of a property and had a mortgage with Fay Servicing , LLC. In XXXX, XXXX I was granted a Consent Judgement of Foreclosure. I submitted this court document with a letter to the mortgage company in XXXX, XXXX. The company Fay Servicing LLC has continue to report negative information to the credit bureaus up to XXXX XXXX, XXXX. Due to this negative credit reporting, I have been denied a PLUS loan to pay for my child 's college education. I have contacted Fay Servicing LLC to request the negative reporting to stop and for them to send me a letter indicating my current account status which is closed. They will not provide me this information so I can appeal my loan denial.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-26

MI

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: There are serious issues with my mortgage that would indicate my current servicer, Fay Servicing and the alleged note holder lack standing to foreclose which they are currently threatening to do. There are also issues that show they are billing me for tax escrows that were never paid. The first mortgage assignment recorded on XXXX/XXXX/XXXX prepared by XXXX indicating XXXX was assigning the mortgage to XXXX would be void due to the fact that XXXX would have had no agency relationship with XXXX XXXX in XXXX due to the dissolution of XXXX XXXX XXXX as a corporate entity on XXXX/XXXX/XXXX. The second mortgage assignment recorded on XXXX/XXXX/XXXX, assigning the mortgage from XXXX to XXXX Legal Trust is also problematic for multiple reasons. First, it appears XXXX violated the REMIC provisions ( Sections 860F and 860G ) of the Internal Revenue Code of XX/XX/XXXX that state a mortgage in default can not be placed into a REMIC Trust. After reviewing the Securities and Exchange Commission 's XXXX database, it appears that XXXX Legal Trust is not registered with the Securities and Exchange Commission ( SEC ). It appears XXXX Legal Trust is in violation of Section 5 of the SEC Act of XX/XX/XXXX that requires all entities offering securities to be registered with the SEC or qualify for a Rule 144a exemption from the registration requirements. There does not appear to be a Rule 144a exemption filed with the Securities and Exchange Commission. There also seems to be serious miscalculations of the amount Fay Servicing is claiming I owe on the mortgage. According to documents supplied by Fay Servicing and their attorneys, XXXX XXXX XXXX, Fay Servicing is charging us {$27000.00} in tax escrow payments from XXXX/XXXX/XXXX through XXXX/XXXX/XXXX. However, it appears from a XXXX county tax bill sent us in XX/XX/XXXX that the outstanding property taxes equaling {$24000.00} were never paid. The property is currently in the process of tax forfeiture.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-21

NJ

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-21

Downingtown, PA

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-20

WA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-04-20

Austin, TX

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: Currently and since XXXX, 2016 my mortgage servicer is listed with Fay Servicing. The loan was transferred from XXXX, who I had been trying for three years to get approved for the Home Affordable Modification Program. Due to a reduction in pay when my organization at work went through a reorganization/downsizing, sequester furlough days, and high rise of property taxes, I was unable to keep up my mortgage payments on time which has escalated to XXXX, XXXX did a '' Forebearance '' on the home loan instead of Home Affordable Modification which should have lowered the current interest rate of 7.5.Instead of helping me to stay in my home and making it more affordable for to stay in my home of seventeen years, this made it more difficult for me to make the payments, which has made the account delinquent. When I was able to bring my account up to date with XXXX, the Home Affordable Modification Program was still not processed. XXXX was always changing Home Support Specialists and I was always having to resubmit duplicate documents. My account was escalated up to the Executive Support Specialist whom I thought the Home Affordable Modification process would be completed, but after speaking with him and explaining to him the situation the account was then followed up with another and another Homeowner Support Specialists and the Home Affordable Modification Program was never done and was turned over to Fay Servicing with no communication or my knowledge that XXXX was going to do this. Now, my mortgage payments have escalated more and Fay Servicing has issued a Pre-foreclosure notice for the total delinquent amount due. I have to resubmit documents to the Account XXXX and have not been able to contact him to speak with him regarding the status which has prolonged the process and escalation of my loan balance due to the XXXX interest rate still on my account. When I was unable to make a high payment on time, the Account Manager would not accept a payment later and that is when the notice was issued for the total delinquent amount and he told me my account was in Pre-Foreclosure status. XXXX and Fay Servicing seems that they are in the business of helping homeowners lose their homes rather than keep them by being slothful, negligent in keeping up with documents, and not being informative/knowledgeable of the Home Affordable Modification Program or just does not care that there are programs in place and are designed to help homeowners keep their homes. Out of fraustration and disappointment, I have spoke with friends and others who have obtained the Home Affordable Modification Program and the process did not take that long and they received a lower interest rate and were able to make their mortgage payments. I am speculating that I am being discriminated against as a single XXXX woman and it is not ideal for me to own a home. The advice to look for another institution/bank to refinance your home instead of your current servicer is a " null and void '' situation also, because another institution or bank is going to take over a delinquent account and if you have a low credit rating due to not being able to pay your debts on time while trying to make your mortgage payments. After this complaint, I am not sure of the next step to take but want other homeowners to be aware of what 's going on and make sure you have a voice in a system that is set up for you to fail and not own a home even if you have worked hard and honestly for many years to have one.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-18

City Industry, CA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-04-18

San Anselmo, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-04-14

Hollywood, FL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-04-13

Wonder Lake, IL

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Dual Trucking regulation is violated with CFPB rules Establish strong Protections for home owners facing foreclosure.Need your help Fay Servicing is in process looking a workout solution to keep my home but at the same time XXXX XXXX. wants to precede with the foreclosure the property they are requesting at the XXXX county court XXXX XXXX hearing date is coming on XXXX XXXX at XXXX room XXXX
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-04-12

Itasca, IL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Our mortgage was transferred to Fay Services from XXXX XXXX XXXX as of XXXX/XXXX/16 due to us being behind on payments. On XXXX/XXXX/16, we made a payment of {$1800.00} which cleared our bank on XXXX/XXXX/16. On XXXX/XXXX/16 we made a payment for {$1800.00} which cleared our bank on XXXX/XXXX/16. On XXXX/XXXX/16 we made a payment of {$1800.00}. This check was sent back to us with a letter stating that they could only accept the full balance due for payment. Our XXXX/XXXX/16 statement had a balance due of {$6700.00}. On XXXX/XXXX/16, we sent a payment for {$6700.00} paying the balance in full as the letter requested. On XXXX/XXXX/16, we received a check from them in the amount of {$1800.00} refunding our XXXX/XXXX/16 payment. To date they have not applied the {$6700.00} payment and have put our house into pre-foreclosure. I called on XXXX/XXXX/16, when we received the check in the mail. I left a message for our account manager, and he still has not called me back as of XXXX/XXXX/16. I finally got to another representative on XXXX/XXXX/16, who hung up on me in the middle of explaining our payment application issue. My husband called on XXXX/XXXX/16 and left a message for our account manager and has not received a call back either. He spoke to another representative who said he would look into our {$6700.00} payment and call him back by the end of the day. He did not receive a call back. I checked our account online this morning, and not only have they not applied the {$6700.00}, but they have put a property preservation notation on our account for the pre-foreclosure. In addition, they told my husband we would owe additional late fees for the money that they returned back to us. Our XXXX/XXXX/16 statement shows a late payment will be assessed if the full balance of {$6700.00} is n't paid by XXXX/XXXX/16. They are holding onto our funds to accrue late fees, and sending payments back so they can continue to refuse payments for payment not being paid in full.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-12

Lewisville, TX

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: We held a mortgage with XXXX for many years. My husband XXXX became unemployed in XXXX XXXX. I am on Social Security XXXX. XXXX offered an Unemployment program that allowed deferment of our mortgage payment until XXXX became employed again and they were offering a mortgage modification at the end of the program in XXXX XXXX. The mortgage was transferred to Fay Servicing on XXXX/XXXX/XXXX. We filled out Application to modify the mortgage with Fay Servicing on XXXX XXXX, XXXX after speaking with the service representative weekly. Aside from the odd request for additional information I was told that we would be contacted on their decision. XXXX became employed again on XXXX XXXX, XXXX and we sent in the requested documentation. I got a letter from the debt collection company dated XXXX XXXX, XXXX that told us that we had 30 days to dispute the debt and when called they said we had to call Fay Servicing that they only followed the instructions from them. I talked to the Fay Servicing service rep on XXXX XXXX, XXXX and he told me only then that the original application had been returned as incomplete and that they had new procedures for applications and for us to submit a new application with supporting documentation. There was no reason for not receiving any notification that the application was returned. The new application and all supporting documentation was sent to them on XXXX XXXX, XXXX. Today XXXX XXXX, XXXX I received a certified letter from the debt collector that was an Acceleration of the Debt and that the property would be foreclose on XXXX XXXX, XXXX at the courthouse in XXXX, TX. We feel that we have done everything that we could in good faith with Fay Servicing and want to file a complaint against them.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-11

East Rockaway, NY

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: In XXXX XXXX my house was damaged by super storm XXXX. We received some funds from XXXX and through our flood policy however had to come out of pocket with a lot of funds as well. Inbmarch XXXX I received notice from XXXX that they were auditing all of the NY claims as they realized they had under estimated on the funds they paid out and had shorted home owners. I immediately filed for a review of my file. ThXXXXe determined that yes I was shorted and this XXXX issued a check for $ XXXX. Because I XXXX mortgage the XXXX was made out to myself and the mortgage XXXX servicing. I have contacted XXXX, specifically XXXX Frye, multiple times. He will no longer call me back. I had requested how I can get the check endorsed. there was no additional work done to my house and based on their track record of handling my mortgage servicing thus far ( you can see I have multiple complaints for basic servicing items ) I do not XXXX for just blindly send the check in without some assurance that they know what to do with it, endorse it and send it back to me. My husband and I laid out a lot of money out of pocket to fix out house and this will help, to replenish the savings we had to pay due to XXXX shorting us.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-09

Colville, WA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response