Fay Servicing, LLC

2016-02-25

Oldsmar, FL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-23

Kansas City, MO

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-19

Sacramento, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: We have been trying to get a modification from XXXX XXXX XXXX since 2009 and they always denied it.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-18

Fort Lauderdale, FL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-18

Katonah, NY

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-17

Palos Park, IL

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-17

Oxford, GA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-13

Calabasas, CA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-12

Stoughton, MA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-12

Norwalk, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: RE ; Fay Servicing LLC-Loan Account # XXXX To whom it may concern, I just received the following letter from Fay Servicing and i am really upset with all the misleading information that XXXX XXXX is providing us. Over a year ago i requested for help under the XXXX Short Sale Program due to my hardship, As of XXXX 2015 my realtor finally got an approval on the XXXX Short Sale however the buyer was not able to get prequalified due to his income. The same month XXXX XXXX told me that my realtor was not acting in good faith and therefore if i want them to review my XXXX Short Sale i will have to look for another Realtor. So i did like XXXX XXXX from Fay Servicing told, i went and got a new Realtor. Now the new Realtor XXXX has been working on the account since XXXX XXXX as of XXXX/XXXX/15 Fay Servicing LLC/ XXXX XXXX stated that they issued an approval however the approval was received until XXXX/XXXX/XXXX giving us less than 10 days to close. At that moment my realtor told me it was n't enough time to close and he will be requesting for at least 10 more days to get the escrow finally done. Since then XXXX XXXX XXXX refuses to answer my realtor 's calls or emails, we requested for her manager and XXXX License Number and now she does n't even answer our calls. After 3 months trying to get a manager we finally got transfer to XXXX XXXX ( Senior Vice President ) who stated he will not issue the extension or any review because of my background. I am starting to believe that XXXX are trying to manipulate and take away my home. I dont know what to do now, please Im begin for your help. XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-11

Baltimore, MD

Making/receiving payments, sending money

Bank account or service: Other bank product/service

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-10

Fremont, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-08

FL

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: My loan that was initiated with XXXX XXXX XXXX on XXXX/XXXX/XXXX, and was serviced by XXXX. Due to family hardship, at the end of XXXX I fell behind on my payments for few months. After applying for a modification plan and being finally approved for a modification with specific trial amounts, my loan was sold few days later and transferred in XXXX XXXX by XXXX to a new servicer /Fay Servicing LLC . Right away, I made contact with Fay Servicing to start making those payments. Fay Servicing asked me to re-apply and re-submit all the documentation in order for my loan to be considered for a possible modification by the new owner -XXXX . The old modification approval from XXXX was void. However, they agreed to take payments from me every month from the moment my loan was transferred to them, while my file was reviewed for a possible modification plan.The review was extensive. They kept asking for documentation that I previously sent or new documentation, denied me for missing documents that I already provided but got lost and asked me to reapply again ... The way Fay Servicing has been applying my payments and extra payments to XXXX loan and escrow was very ambiguous and hard for me to understand on my statements. When I reached out to Fay Servicing to help me understand the customer service was able to only take my monthly payments but for issues they referred me to the account manager as the only person that I can discuss my account. The account manager was always very hard to get hold of when I was available, intentionally calling me back when I was at work and not able to respond and discuss. For many months, he denied me access to view my loan online because my loan was not up to date and he would not follow with any of my concerns. Eventually in XXXX my financial situation improved with my husband finding a job and I was able to bring my payments up to date. At the end of XXXX I called the account manager and informed him that I was refinancing my loan with another institution and asked him if there are any additional fees that I should be aware of besides the loan balance. After checking my account, he said no. The payoff included a charge of {$430.00} called corporate advance that I was never made me aware of. When I called and asked for details on it, the account manager said that it is related to foreclosure process they started even thou they accepted my payments every last day of each month, never missing one month since I was transferred to them from XXXX.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-08

Ocklawaha, FL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-04

Bowie, MD

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-04

East Rockaway, NY

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My current servicer, faye servicing, has not provided me with my annual escrow statement. I am in an active chapter XXXX bankruptcy. My lender has an authorization on file from my attorney to speak to me about all aspects of My loan. Despite being in an active chapter XXXX, I get a call from a representative requesting me to make a payment on the loan every month. I do make my payment every month, however, as there is currently no penalty, I make it towards the end of the month. When the person called me this month called for payment, they mentioned that the amount was {$2600.00}. My PITI is {$2000.00} so I was very surprised to hear this. The associate mentioned that there was an escrow analysis done in XXXX and I had a shortage. This does not make sense to me as my taxes have decreased every year since Hurricane XXXX, as my home had been damaged by the storm. My flood insurance increased by {$300.00} annually. This does not warrant a {$6000.00} annual increase. I am demanding an out of cycle escrow analysis and also to be sent a copy of this. I am requesting any reserve requirement to be removed. While I understand that RESPA allows lenders to collect a reserve of 16.667 % in NY, I also know that if I request it to be removed, it must be. If there is a shortage, I am requesting that shortage to be spread over 60 months interest free, also allowed by RESPA. I am also requesting a payment history from when Faye acquired my loan until today, as I need to verify how they have been applying my payments. On top of this, I had completed a HAMP modification in XXXX 2011. As part of this I am supposed to receive an annual incentive applied to my prinicipal I the anniversary of my modification for the first 5 years of the modification.. Last year I had to ask for them to do this, otherwise I believe they would have kept the money for themselves. Please note that in no way am I experiencing a hard ship or requesting any financial assistance and do not want my payment dispute to be confused in any way. I simply need to ensure that this lender adheres to all requirements of a lender and provide me with the documentation that they are supposed to. I also do not want a XXXX Line generic response, as they provided in response to my last complaint. Or a rude response as my so called account manager XXXX ( sp? ) has provided. I look forward to hearing back. I can be reached at XXXX.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-01

Aliso Viejo, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-01

Black Horse, PA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: FIRST REQUEST/Sent to Account Manager : On XX/XX/XXXX when I sent {$40000.00} to bring the mortgage up-to-date, I requested a statement to outline how the funds were distributed, along with mortgage coupons. The amounts from the XXXX ( XXXX ) lawyers involved did not match the last amount from the mortgage company. According to the calculations when they all matched, I sent {$390.00} over the amount due. I advised in the letter dated XX/XX/XXXX, that I would be using the overage to apply to future loan payment. I included all the documentation I had received to-date from the lawyers and them. Please note that the {$40000.00} included XX/XX/XXXX and XX/XX/XXXX mortgage payments. SECOND REQUEST/Sent to Account Manager : However, when I sent the XX/XX/XXXX payment on XXXX, I still had not received the statement requested on XX/XX/XXXX. I made the check out for {$140.00} less, indicating to utilize the overage from the {$40000.00}. In addition, I included another letter requesting a statement of how funds sent to date were being distributed and also included the documentation I sent with the {$40000.00}. THIRD REQUEST/Sent to Payment Processing Center : However, prior to sending the XX/XX/XXXX payment on XX/XX/XXXX, the Account Manager contacted my lawyer and advised him to tell me to stop sending him the payments and that I needed to send the {$140.00}, I did not include with the XX/XX/XXXX payment and to send payments to the payment processing address. He also stated that they do not send coupons Now what mortgage company does not acknowledge receipt of mortgage payments. However, I still had not received the statement I requested on XX/XX/XXXX and XX/XX/XXXX. So on XX/XX/XXXX I sent the XX/XX/XXXX payment with the {$140.00}, along with another request for a statement and coupons, to the mortgage processing address supplied by the Account Manager. I also made a verbal request to my lawyer to request a statement. FOURTH REQUEST/Sent to Payment Processing Center : On XX/XX/XXXX, I sent the XX/XX/XXXX payment, with a letter requesting statement and coupons. Please note that my lawyer has also requested this information several times on my behalf. So now I am soliciting your assistance to obtain a statement of how the {$40000.00} sent in XX/XX/XXXX was applied, as well as statements for payments sent for XX/XX/XXXX ; XX/XX/XXXX and XX/XX/XXXX.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-01

Santa Ysabel, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Submitted an complete Loan Modification packet on XXXX XXXX, 2015 to Fay Loan Servicing. We have not had a return call or email response from Fay Servicing.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-28

Cumberland, RI

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-01-27

East Rockaway, NY

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: XXXX XXXX Loan # XXXX Fay Servicing XXXX XXXX XXXX, XXXX, NY XXXX I am writing you today to express my frustration in working with Fay Servicing on a mortgage modification under the Making Home Affordable program instituted by the Obama Administration. I am at a loss as to what to do now that will encourage them to act in a timely manner to finalize a modification process that began over 6 years ago and with an upcoming sale date XXXX XXXX 2016. It is my hope that in filing a complaint with that a resolution regarding my application for a mortgage modification can be expedited, and pressure placed on Fay Servicing to fulfill it 's obligation to act in a timely manner not only on my behalf, but on behalf of others that are facing the same obstacles regarding their applications for mortgage modifications. I find it very observed that I have been trying to get a loan modification with you guys for over years, and yet, till this date, we have not been able to resolve this issue. It has come to my attention that my loan modification was denied because you could not arrange an affordable payment to support a Loan Modification and excessive obligations to support a payment. We fought back and fourth with you and the court, and you received everything you needed in regards to the loan Modification process. Now I 'm not able to complete my modification and get out of trouble with foreclosure due to a misunderstanding of employees and also a misinformed process to resolve the loan modification. I have sent 'd all documentation on a timely matter and you keep requesting document after documents knowing that I have enough income to support not only a monthly payment, but to support the loan through the maturity. We have been in process for a Loan Modification for years, foreclosure should be on hold and now you have the dignity to assign a sales date and not want to help me eliminate this, and move forward with the sale when by " Law '', the foreclosure should be postpone due to a process of a loan modification. Now I 'm facing a foreclosure sale date on XXXX XXXX 2016 and you claim there is nothing that can be done to stop this sale. It is neither my intentions nor my fault that this debt has increased since I have been trying to resolve this issue for the last 6 years with no results, basically with the same action, " I do not qualify because I do not have enough income '' when in reality everything is already clear, and you have records of this. I just find this really obnoxious and idiotic when you have a home owner like my self, asking for help, reaching out to you throughout all this time, just because I want to keep my home, my investment. In news reports I hear that Fay Servicing claims to be overwhelmed with applications for modifications. When times were good and banks were encouraging everyone to take out XXXX, XXXX and even XXXX mortgages they did n't seem to have any problem keeping up with the high demand. Full documentation Mortgages could be initiated and closed inside of 2 weeks. Now, when some one asks for help, it takes those 6 years, and no immediate results. I understand that across the country there are several lawsuits being filed against fay Servicing, some seeking class action status. Please take in consideration that I really want to keep my property. I do not want to foreclosure or bankruptcy on my property, but I need your help. Attached is a copy of the Loan Modification Package along with the Gross Income Used of XXXX Attached is also a copy of a Loan Disposition Analysis along with a property valuation that would structure a loan modification. We greatly appreciate your taking the time to review my complaint. Please help me the best you can, I know I qualify for a Loan Modification, and it would be under our best interest to qualify this loan Thank you XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-26

Indianapolis, IN

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: On XXXX/XXXX/XXXX I setup my account to be auto drafted half my mortgage bi weekly with Fay Servicing. The initial payment would be deducted 30 days later. On the date of the deduction XXXX XXXX/XXXX/XXXX XXXX Fay Servicing deducted a full amount which causes my acct to go into the negative. I contacted the office the same day and was told there was not a manager or supervisor to speak with me. I called again the next day and was told the same thing again. It has now been 48 hours without a resolution to the matter nor funds deposited back into my account.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-26

Kenilworth, NJ

Disclosure verification of debt

Debt collection: Mortgage

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

Disputed: No Timely Response

2016-01-25

Williamston, MI

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: We cancelled our homeowners insurance in XXXX 2015 with one company and selected a new company. Our mortgage company sent a check for payment to the one that we cancelled and that money has not been returned to our account even though that is not our current insurance company. They claim that they are investigating where the money went or where the check went, we have called numerous times and nothing is being resolved.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-20

New Windsor, NY

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response