Fay Servicing, LLC

2015-07-30

Lk Buena Vis, FL

Disclosure verification of debt

Debt collection: I do not know

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

Disputed: No Timely Response

2015-07-30

Carver, MA

Loan servicing, payments, escrow account

Mortgage: VA mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-07-29

Casitas Springs, CA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-07-23

Fresno, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2015-07-23

Arco, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: File was service transferred from XXXX XXXX XXXX to FAY Servicing during a review for loan modification and I was told by XXXX that they would transfer the complete file over to the new servcer to complete the review. During this time there was an active foreclosure sale date that was postponed from XXXX/XXXX/15 to XXXX/XXXX/15. I diligently called FAY Servicing from the XXXX of XXXX and faxed them the XXXX party Authorization on XXXX/XXXX/15. But when I spoke to them on XXXX they said it would take a week to XXXX weeks to upload the package. I told them I would fax the docs to them just in case. Basically, FAY Servicing did not give enough time for them to properly review the file to give it a proper decision no matter what the outcome. This is the email sent to the Site Manager in regards to my complaint. XXXX XXXXSite Manager - Fay ServicingXXXXXXXXXXXXRe : XXXX, XXXXThank you for returning my call in regards to the above reference file and the complaint I emailed in this morning regarding the loan modification review and the foreclosure. Just a recap on our conversation you will1. Verify if the docs that I sent in were confirmed received as I have a fax confirmation [ XXXX Pages ] and an email confirmation [ XXXX Pages ] of the docs being sent to your office and received with no errors on XXXX/XXXX/15 and XXXX/XXXX/15. 2. Review file for completeness3. You also stated even though Fay Servicing would have reviewed the financials, based on the income submitted the client would not have qualified and would have been declined. 4. You also stated that XXXX sent the file coded [ not in an in-flight review ] meaning that file was not complete. The file was submitted and on XXXX/XXXX/15 XXXX informed us that there was additional docs that they needed and that was sent over the same day we have fax confirmation of this. At that time they said the loan would be service transferred to Fay Servicing and they would forward the full file and the additional docs to them to review. That apparently did not happen as instructed. 5. Informed you that my conversation with XXXX [ XXXX ID # XXXX ] confirmed postponement request is in and being reviewed and that all additional docs were received and would be forward to the new servicer. On XXXX/XXXX/15 I was given confirmation by the trustee that the foreclosure was postponed until XXXX/XXXX/15 while the file is in the middle of service transfer. 6. After he reviews this file he will contact myself on Monday with his response. My intention is for Fay Servicing to give the client the opportunity to be reviewed for a loan modification and have a decision either an approval or a decline. During this period the foreclosure should be on hold to allows this process so there is no Dual Tracking as defined in the California XXXX. The servicer must deny the loan application and wait for the XXXX-day appeal period to expire before moving forward with foreclosure. We want the full loan modification process and decision on that application to allow our client the right to chose what their next decision will be such as Short Sale, Foreclosure, Deed in Lieu or full Chapter XXXX Bankruptcy to protect their home and their investment in the home. My hope is that we can resolve this issue and get back on track to avoid further legal action. Again thank you for your time, look forward to speaking on MondayPlease HELP, Fay Servicing did not allow the recording of the Deed of Trust and is looking into this matter before they make a decision but I want your office to get involved to give this client the opportunity to be reviewed for a loan modification properly. It just seems that they wanted to foreclose on this home no matter what and they did.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-07-21

Palos Park, IL

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-07-19

Newnan, GA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-07-16

Memorial Square, GA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2015-07-14

Colts Neck, NJ

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-07-14

Battle Creek, MI

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-07-10

San Jose, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I called Fay Servicing and they said they received the loan modification packet and it is in review. I informed them that I have a sales date on this coming MONDAY XXXX XXXX, 2015. I was connected into the recorder of the person named " Grant '' who handles my file but he was not there? So I left a message! DUAL TRACKING -- DUAL TRACKING : By failing to adhere to both California law and the rules under CFPB, The party ( XXXX ) complained of in my initial complaint are not compliant with rules regarding dual tracking. The Parties are " covered '' under both California Homeowner 's Bill of Rights and the CFPB 's strict guidelines. I have a valid and complete loan modification package that has been acknowledged as received and no notice of deficiency of documentation has been received by me. I just received another Notice of Trustee during the pendency of my application. The Parties have also failed to respond to the initial complaint with competent and reliable evidence that supports all facts contained within all recorded title documents that were used against my contract rights. Specifically, the assignment ( s ) of deed of trust to an un-verified entity, Notice of Default, Notice of Trustee Sale. No authenticated evidence has been offered by the offending Parties by any person with personal, first-hand knowledge of those facts. I am not in default to an unknown, un-authenticated party that is currently in my chain of title without competent evidence to support the beneficial interest. Please inform Parties as to their deficiencies. Sales date : XXXX/XXXX/15Loan number : XXXXFay Servicing, XXXX XXXX XXXX, XXXX XXXX, IL XXXXFay Servicing Account number : XXXXTrustee : XXXX XXXX, XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2015-07-09

Alameda, CA

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-07-06

Dallas, TX

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-07-01

Shalimar, FL

Cont'd attempts collect debt not owed

Debt collection: Mortgage

Debt was discharged in bankruptcy
Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-07-01

Cheverly, MD

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: In 2014 I was going through financial difficulties and fell behind my mortgage payment, i contacted Fay to see if I can do short sale. I contacted Fays and i got intouch with the realtor and we start working on the short sale, we have XXXX done and I received so many offers within asking price. My realtor had spoken to the negotiator at Fays and he had agreed that if we received officer of specific asking price he will acccept the offer. We received XXXX separate officers within the asking price and every time my realtor will submit the offer to the Fays, Fays will respond to the realtor that the investors have rejected the offer without explanation or counter offer from the bank. In the meatime every time i will call the bank to ask for explanation as to why they refused all those offer the answer will be you can do deed in liue of foreclosure, i told the bank that i didnt want to do the deed in liue because i was able to sell the property within the market price at that time, the bank will tell me dont listen to your realtor because she gets commission from selling the house and we can sell the house ourselves without paying for commission because my realtor has been working so hard trying to sell the house she even told the bank that she will cut her commission in half as she really want to sell the house, the bank refused and all they offered me is deed in liue which i rejected. XXXX Months later i started working full time and I asked the bank if its possible for me to get modification since I am now working full time and can afford to pay the mortgage they sent me modification form that i completed and returned back to them XXXX days letter i got yet another letter from the bank that the only choice i have is deed in liue my expenses are too high and dont qualify for modification, which i really do not believe it between me and my wife we make over $ XXXX per month to be able to make XXXX monthly mortgage payment but again the bank rejected to work with me, between XXXX and XXXX the bank will call me every other weeks to try and convince me to give the house back to them for exchange of {$3000.00} moving cost, i told the bank that I do not wish to move out of my primary residency since they refused all the short sale offer from me. XXXX weeks ago the bank called me again to offer me deed in liue i told them i would not accept the deed in liue i want to keep the home, the bank in turn told me they will start foreclosure proceeding so am waiting for the notice from them, i feel like the bank has refused to work with me to sell the house or refinance the house because they wanted me to give the house back to them so they can go ahead and sell the house in return by themselves, I really believe the house will not sell in foreclosure. " I hope this is not the case, the bank has rejected reasonable offers, then either foreclose on me and then sell ( either by auction or REO agent XXXX the property for amounts less than the offers received during the short sale process. I do n't understand the logic behind this, but I do know that it is a categorized as a deceptive business practice under the law. My realtor had worked so hard and complied with all of the additional information the bank requested. The bank had counter offer to a little higher amount and that specific buyer pulled out but we were ablet to get another buyer with the amount that the bank counter but again they rejected the offer, if the property is deeded to the bank and either auctioned off or placed with an REO agent, if the property sells for anything less than asking price at the time which i believe it will as the previous house within the neighbourhood has sold for XXXX less than my asking price, then it will be a case of XXXX XXXX XXXX XXXX XXXX '' and I hope that it does not come to this. I still want to keep my primary home.
Company Response: Closed with explanation

Disputed: No Timely Response

2015-06-30

West Covina, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2015-06-30

Acworth, GA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-06-29

Mount Pleasant, SC

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-06-27

FL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I have written to Fay Financial at least four times pointing out that they are inaccurately reporting information on my credit report. They have not responded or made the necessary changes as required by FCRA. My last letter was dated XXXX XXXX, 2015 which is attached together with a copy of the credit report excerpt showing that they are reporting " foreclosure iniitiated '' and XXXX days past due when there is a XXXX balance and the fact that no foreclosure was ever started.
Company Response: Closed with explanation

Disputed: No Timely Response

2015-06-18

Virginia Bch, VA

Disclosure verification of debt

Debt collection: Mortgage

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

Disputed: No Timely Response

2015-06-14

Midwest City, OK

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-06-11

Montebello, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-06-11

Cheverly, MD

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Complaint: My mortgage was modified for in-house step mortgage program by my then lender, XXXX, on XXXX/XXXX/2012 before being transferred or sold to Fay Servicing , LLC in XXXX. The rising interest rate and payment coupled with near fatal accident that kept me out of work for several months, made it difficult to maintain my mortgage payment. I subsequently fell behind on my mortgage and reached out to Fay Servicing for assistance. XXXX, they denied my loan before I had a room renter income because, according to them, I did not have sufficient income. Several months later, I reapplied showing additional {$600.00} a month in rental income, Fay Servicing denied my application again because they said this time that I made too much money. I have been denied for HAMP several times, for different reasons, like ; I have already been modified for HAMP once before which is not true, I do n't meet the 31 % threshold for HAMP XXXX XXXX or they can not achieve the 10 % P & I reduction for HAMP XXXX XXXX, and finally that the investor on my loan does not participate in HAMP modification.It was difficult to know their real reason for not wanting to offer me a retention option. I contacted the XXXX and worked with a housing counselor who determined that I was a good candidate for the HAMP XXXX XXXX and we tried to conduct a XXXX phone call with FAY Servicing but Fay Servicing declined to discuss my mortgage with them. I submitted a new application to Fay Servicing with documents I received from the housing counselor showing that I met generic HAMP guidelines. Even when I was already more than XXXX months past due on my mortgage payment, Fay Servicing told me the only way they would consider me for a modification was if I agreed to make payments of {$2200.00} while my file was in review and was further advised by my then Account Rep, XXXX XXXX, that making those payments will enhance my chances of getting my mortgage modified. I agreed and made about XXXX payments and my loan was still denied. Eventually, XXXX XXXX 's manager, XXXX XXXX XXXX said he might be able to help me get an in-house modification if I completed the financial worksheet he sent to me. I completed the worksheet and sent it back and several weeks later I was notified that my loan modification was approved. I was very excited until I found out that they raised my interest rate from 3 % to 5.875 %, thereby significantly increasing my mortgage payment from {$2300.00} a month to {$2800.00} a month for XXXX years. I told them I had a family to maintain and so could not afford the payment increase and that is when my new Account Rep, XXXX XXXX, started calling me almost every day threatening that unless I agreed to a short sale, the only other option will be to voluntarily vacate the property or they will come and evict me if I did not. The calls became relentless and they were quite humiliating to me in front of my family. I discussed Bankruptcy but was told that they would still come after me for any deficiency balance. Left several messages for his manager, XXXX XXXX, who never bothered to call back, not even once. XXXX XXXX referred me to work with a company he said they use for FHA short Refi. I contacted that company and worked with someone named XXXX XXXX. I completed their application only to be told they could not help me because of an old judgment on my credit report. A friend of mine referred me to a non-profit Short Refi company called XXXX XXXX. I completed their form and submitted with requested supporting financial documents. After about XXXX weeks, I was contacted and told that I was pre-approved for their program. Their program involves getting the house at a short sale and transferring it to me as a Short-Refi. I gave them the permission to contact Fay Servicing for short sale but Fay Servicing declined to work with them. Please help me with Fay
Company Response: Closed with explanation

Disputed: No Timely Response

2015-06-10

Aldan, PA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-06-09

Anchorage, UT

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response