Fay Servicing, LLC

2016-01-18

Quakertown, PA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-15

Hamden, CT

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-14

South Lake Tahoe, CA

Loan modification,collection,foreclosure

Mortgage: Home equity loan or line of credit

Complaint: XXXX XXXX XXXX gave me a XX/XX/XXXX XXXX XXXX ( XXXX ) which was a HELOC. They would n't modify it and or restructure it and eventually went to my home, where I had a tenant living at the time ( little over a year ago ) and disclosed personal info to him violating the debt collection act by telling him the history of my loan payments and tax payments, that I had been collecting rent ( {$1800.00} per month ) from him and not paying the note which was illegal and that I would go to jail. And my tenant got angry and stopped paying rent and did about $ XXXX in damage to the property. When I reported this to the XXXX, they said they would modify my loan and 3 days later, in XXXX XXXX, they sold it to Fay Servicing who came for my jugular. I had over XXXX of equity in the property. I had been working to try to come up with a viable solution with XXXX and started all over with FAY. the XXXX never could produce documents proving the loan was theirs. They were missing payments we had made over the years. They would not work with my Ex Husband being on the loan. I had found an investor to bail me out and bring my loan current. ( {$30000.00} XXXX In return, our agreement was that I would bring him on title, we could make monthly payments, upgrade the home which he would also pay for XXXX {$20000.00} XXXX and then I would split the equity with him. I told the servicer we would have a listing agreement and sell it XX/XX/XXXX.FAY XXXX refused to allow him on the title, and pursued a forclosure. I asked them for a modification review XX/XX/XXXX. They gave me until XXXX XXXX to turn my info in. At that pointm they stopped communication with me and would n't return calls or emails after multiple attempts. They would n't tell me if my info had been received via FAX until FINALLY on XXXX XXXX when I got an email that said, " yes I have rec 'd the documents you sent and forwarded them to the appropriate department. On XXXX XXXX, they put my house on the acution block and it was sold within minutes to a third party. I was stunned. The people at the default company told me that they had denied the modification on XXXX XXXX. THEY NEVER TOLD ME THAT. I was completely and utterly bewildered. Even on XX/XX/XXXX, when I rec 'd the email telling me they got the XXXX, did n't mention a word. The equity that I had in that house was mine. I did everything I could to make sure that I could get the money from the property and move on in my life. They did everything they could to make sure they would get money that was owed to them and forclosed on my home, where I reside as a single Mother of XXXX kids, ages XXXX and XXXX. It is CRIMINAL what they did, banking on the assumption that I did n't have the money or knowledge or both, to fight them. Not only did I do what they asked from day one, I also had presented them with a viable solution to bailing myself out. Now I have a 3 day notice, no means to move, and my children are terrified as am I. No one lets a home forclose if they have equity in it. I was not planning to do so either, but I trusted the word and written letters, from the servicer. I am essentially homeless and need help to bring criminal charges against them, educate people on what not to do and report them to as many agencies as I can so that this does n't happen to someone again.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-14

Point Arena Air Force Statio, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Complaint: XXXX sold my loan through auction for XXXX % of it 's Unpaid Balance ( UPB ) on XXXX XXXX, XXXX to XXXX XXXX, with Fay Servicing servicing the loan. On XXXX XXXX, XXXX, Fay Servicing offered a Proprietary Modification that included {$74000.00} in Principle Reduction from California 's Hardest Hit Fund. The monthly payments were over XXXX % of my income, far above the HUD guideline of XXXX %, and I could not accept the offer. I had to insist, multiple times, that Fay Servicing evaluate my loan for HAMP, as is required by XXXX 's Non-Performing Loan Sale Requirements. Fay Servicing finally sent the HAMP Mod Docs on XXXX XXXX, XXXX. I faxed and mailed the filled out and complete HAMP application and supporting documents on XXXX XXXX, XXXX to Fay Servicing, with follow up documents faxed on XXXX XXXX, XXXX and XXXX XXXX, XXXX. Fay Serving acknowledged receipt. To make the monthly payments conform to HUD guidelines, a combination of Principle Reduction and HAMP modification is necessary. However, Fay Serving is saying that XXXX XXXX will not accept Principle Reduction money through California 's HHF, even though they offered a modification based on HHF Principle Reduction money of {$74000.00}. According to California 's HHF website and phone counselors, XXXX XXXX does participate in the Principle Reduction Program. XXXX Fay Servicing has stated that " XXXX XXXX wo n't allow for principle forgiveness. '' They will only accept Mortgage Reinstatement money from HHF. What is the truth? I am applying for HHF Principle Reduction again to assist in making my home payments affordable for myself and XXXX daughter. Also, since my loan was sold for XXXX % of it 's value, that means that the Unpaid Balance of my loan is less. How do I get a Mortgage Modification based on the reduction in my Unpaid Balance? Your help in resolving this matter is much appreciated. Thanks, XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-13

Key Biscayne, FL

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: Ever since I did my home modification with this finance institution its been problem after problem. 1. After settled and signed loan documents with a fixed %, the account manager called me that they made a mistake on the calculations and now they have to increase the %. At that time I accepted, I did n't know that was illegal. 2. I shopped around for insurance, do my inspection. The escrow department decided that my house was not house and I did n't need the insurance. But, no one tell me that. I had a claim on XXXX 2015 called an adjuster, and they told me that I did n't insurance. I called the bank, and after many calls they handled the claim through their insurance. 3. The insurance finally paid. I summited that an estimate from my General Contractor, they sent a check for XXXX % of the estimate. Later when the job was almost done they sent an inspector that took 3 weeks to get back to the bank to said now that I have only completed XXXX % of the work. The problem is that I lost track of many calls and emails send in order to get the result of this inspection, and now they come and say this. This is unacceptable. Last Thursday after many calls with them I got into a crash, XXXX. XXXX. This has affected me in so many ways, health, economy, etc. I hope you can help or help other customer. Regards, XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-13

Tampa, FL

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-01-06

Mission Viejo, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-02

New Port Richey, FL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-18

West Brandywine, PA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Please realize that this is NOT a duplicate request. My loan servicing agent is NOT adhering to my HAMP modification. In XXXX, entered into a HAMP modification with XXXX Mortgage. Part of the modification includes a Borrower Incentive of {$1000.00} to be credited towards my principal balance annually as long as the mortgage never becomes 90-days delinquent. ( My mortgage payments have never been marked as later since entering into the modification. ) My loan servicing agent has changed from XXXX Mortgage to XXXX and finally to Fay Servicing. This borrower incentive has always been credited to my account on XXXX XXXX in XXXX, XXXX and XXXX when with XXXX and XXXX XXXX. My loan was transferred to Fay Servicing in early XXXX and I have not received that borrower incentive as of yet. I was originally told that it was due to an issue with the transfer to Fay Servicing and the Fed but that it had been corrected in early XXXX. They have credited my account {$830.00}, not the contractually required {$1000.00}. I have tried to communicate with my account manager XXXX XXXX at Fay Servicing in writing via email but have not received any communication back. I am requesting assistance in getting the remainder of the contractually obligated borrower incentive credited to my account and backdated to XXXX/XXXX/XXXX so that I am not accruing interest on that principal. Today, we are 149 days past the date this credit was due. As a homeowner, if I was & gt ; 120 days late, Fay Servicing may have already started foreclosure proceedings. Please help.
Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-16

South Florida, FL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-16

FL

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Filled a complaint on XXXX/XXXX/2015 ( XXXX ) and have been trying to get a hold of my Personnel account Manager to find out status with No return Phone call on at least XXXX attempts ( unacceptable ). Today i checked the CFPB for a update and see a update was sent by Mail, which I did not get because they did not put my apartment number on my mailing address which they had at XXXX time but seemed to have miss placed that as well. It Should Be XXXX.Also My credit has been damaged by this and am requesting them to Repair this as well with no response at all. The problem they had was bigger than them saying insurance was not in place. that only came late in the conversations i did have with them and it was supplied to them. It does not explain why they said my payments were {$16000.00} per month and I was a month behind ( how do you explain that ). Requested at least 7 Times to talk to a supervisor or have one call me and that never happen. I can not even get my XXXX on the phone I know they record all theses conversation so there is a record of everything i am saying. I tried again this morning to contact my XXXX XXXX XXXX other agents are not allowed to handle your complaints and they are not available and no supervisor will ever call you back. Worst customer service set up i have ever experienced. I am requesting thru you to have my Apartment number of XXXX added to my address. Also to have credit agencies contacted and repair my credit.Maybe you can get them to respond.
Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-15

Jacksonville, FL

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-14

Tewksbury, MA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-14

Mc Farland, WI

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: we have been trying to resolve our mortgage problem with a deed in lieu of filing. To this point we have signed all the paperwork and vacated the property. We were participating in the " cash for keys '' program. All the paperwork we have signed and submitted states the property must be in broom swept condition. Also we were told that as long as the property was vacated in broom swept livable condition we would receive some compensation. Now that the house is signed over and out of our control we were told that because we left items in the house we will not receive any compensation. All the items left were usable by the next owner. we were never told that the house had to be empty to the walls ... I have called my account manager numerous times and never get a call back I always have to contact them. My last contact was 11 days ago and I have still heard nothing.
Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-09

Raymond, NH

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-04

Oak Ridge, TN

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-03

Loan modification,collection,foreclosure

Mortgage: Home equity loan or line of credit

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-02

Blyn, WA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-30

Boston, MA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-27

Ocean Park, ME

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-25

Bitter Lake, WA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-25

San Gabriel, CA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Complaint: To whom it may concern, I am submitting this dispute due to the fact that I had submitted a dispute pertaining to an outstanding " corporate balance '' Fay Servicing was indicating of {$21000.00}. Fay responded to have removed {$9600.00} however Fay servicing is now indicating the outstanding balance is {$11000.00} in an escrow shortage. A couple of years back I had specifically recalled Fay deciding to pay my property taxes and insurance, they had begun impounding them. I was accessed the shortfall over a period of about 2.5years to cover the payment they had made to the property taxes and insurance the first year they began impounding. They collected the approximate {$12000.00} plus the monthly impound payment over a 2.5years period because it was a substantial balance that I could not pay up front. I would have appreciated they dug in further to review that I had in fact paid that impound shortfall. I need Fay Servicing to do a thorough analysis of my impound payments as they are not doing so. How do these servicing company 's get away with imposing " corporate '' fees without doing their due diligence. It is such a shame there are borrowers that do n't question these predators, that are out to ensure the best interest of the note holder not the consumer. I was recently re-accessed in my impound account once again because Fay did not properly collect enough the year prior yet they sent me a check of {$700.00} that very same year, to note there were no increases to either my property taxes or insurance. Fay Servicing 's impound department does not seem to be very organized. Is there any regulations or audits that can be done on the servicer 's impound departments to avoid these types of aggravations? These huge errors pose a major financial burden/problem to consumers. I am in the process of refinancing my mortgage to relinquish further relationship with Fay Servicing. I would appreciate an investigation be made, this experience has been a nightmare to deal with. I will go through my record 's to pull out all the detailed information pertaining my impound assessments. I look to have this matter resolved immediately, thank you.
Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-24

Chesapeake, VA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-24

Brant Lake, NY

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: In XX/XX/XXXX, our rental property mortgage fell behind. Due to tenant non-payment for many months. At that time, XXXX XXXX XXXX was the mortgage lender. XXXX XXXX XXXX suggested a loan modification. Paperwork and required documentation was submitted several times, for a modification, which in turn was never received by XXXX XXXX XXXX. After many failed attempts at a modification, the loan was them sold to XXXX XXXX XXXX. XXXX XXXX XXXX would not accept any payments and also suggested a loan modification. Again after several years and failed attempts at a loan modification, the loan was next sold to Fay Servicing. XX/XX/XXXX, Fay Servicing agreed to a loan modification. While the modification process was in place, Fay suggested submitting a forbearance. The initial forbearance payment was made with the intent of completing the loan modification. We agreed to proceed with the modification and a good faith down payment amount was set. A few months later, Fay Servicing contacted us and dismissed any prior agreements to a loan modification. The property currently is a rented and the lease is set to expire XX/XX/XXXX. According to Fay, they will not do a loan modification unless the property is owner occupied. If this is the only way to achieve a loan modification then I will move back into the property after the renters lease is expired. Fay will not explore this option unless I have documentation of owner occupied for the past few months. This is impossible because the property is currently occupied by my renters. In XX/XX/XXXX we could not pay the mortgage and fell behind. In 6 years time, we have saved money and paid off debt. We currently do not claim to have a hardship but do request a fair settlement for this property. Fay currently has set sell the property at foreclosure on XX/XX/XXXX. We currently are behind over {$80000.00} owed to Fay but have been unable to make payments due to the many transfer of the note over 6 years. The amount owed is well below what the property is currently valued. We ask Fay Servicing make good on the initial loan modification agreement and keep in mind the property will be owner occupied within 3 to 4 months time.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-11-24

Effingham, KS

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: My loan was in the final stages of being modified by XXXX XXXX when it was sold to Fay Servicing. First contact Fay had made with me was horrible. They said that my loan was in default and that they were going to Foreclose on me. There was no mention of a modification until I said something. Fay said that through there modification process they would work with me and get my payment lowered to an amount that I could afford. Loan modifications are done to help keep home owners in their homes. This is suppose to be the reason that this company even exist so I thought. Upon reading up on Fay Servicing it turns out that Fay Servicing has opened a new division XX/XX/XXXX. An REO Division. Which is unfortunate for me because instead of trying to help me they their goals were always the opposite. They just wanted my property. My loan was already in default when they purchased it so since the home has a market value of XXXX dollars and only XXXX owed my property fell right in line with Fay 's REO Division. Fay with investors from XXXX XXXX Purchased my property and many others like it from XXXX XXXX with the intent of taking the property and foreclosing on the homeowners. Of course Fay offered to modify my home loan as I requested. Now like me and all other struggling Americans are led to believe modifications are supposed to help the home owner stay in their home by providing a reduced payment by altering the value of the loan or the loans interest rate. These Solutions are all outlined in the Governments Harp program. The Harp program also encourages the home owner to work with their mortgage company first, which I did. After submitting XXXX plus pages of personal information to Fay they came back with a modification offer on my home loan which increased my payment from XXXX a month to over XXXX a month. They told that 's final and to pay it or get out. Now going through a financial hardship already and being told that their is no need to worry and that my payment would be lowered, Fay lied to me. Finally I got then to take a look at everything again and explained over and over again that if I was having trouble paying XXXX then how could I afford to pay even more. So I sent in another XXXX plus documents to fay again and in the meantime I got a Foreclosure notice. I called Fay and I was told not to worry about that. They told me that was a mistake. Finally Fay got back to me and said that this was the final offer. They wanted me to pay them XXXX for 4 months on a trial modification and at the end of that my payment would be almost XXXX a month. Keep in mind that I sent in XXXX pages of info on my financial situation and they knew that I did n't have it. I was told to pay it or get out. So I paid it. I missed child support payments and other bills. I sold my personal items and starved myself but I made the first three payments on time and on the last payment I had paid it and my wife had decided to leave me at that same time period and took all of the money out of the bank accounts so the check did not clear. It was returned and as soon as I found out I called Fay and paid them using a company card and it cleared but Fay said it was to late and they already foreclosed on me anyways. So Fay then decide to give me a new account manager but did n't inform me. Instead they contacted my soon to be ex-wife who is not even on the loan. I was finally contacted by my ex- wife and she said that I need to contact my new account manager at Fay. I called Fay right away and they told me that I was to late. They said they tried to call me. They had my wife as the primary contact and her number but not mine. Weeks before this I had requested that Fay only talks to me and especially not my wife and they agreed. My house has gone to the Sheriffs sale on XX/XX/XXXX and surprisingly it was purchased by there new REO division, which was t
Company Response: Closed with explanation

Disputed: Yes Timely Response