Fay Servicing, LLC
Consumer Complaints
There are over 1355 complaints on file for Fay Servicing, LLC. Dated between 2019-12-06 and 2012-09-10.
Complaints Page 5
2019-07-17
Chula Vista, CA
Trouble during payment process
Mortgage: Home equity loan or line of credit (HELOC)
Company Response: Closed with explanation
2019-07-16
Echo Lake, IL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-07-12
Taft, OH
Attempts to collect debt not owed
Debt collection: Mortgage debt
Debt was paid
Company Response: Closed with explanation
2019-07-10
Occoquan, VA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: My loan was sold form XXXX XXXX to Fay Servicing in XX/XX/XXXX. I began trying to work with them right away. My loan was behind when they purchased it. My dad is elderly and although the loan is in his name both our names are on the deed. We provided a notarized letter stating that he wanted me to be the person to handle this account it took from XXXX to XXXX XXXX time from to get added to the account to discuss anything. My father even called in with his tax lady to request some information for a tax audit. She initially asked me to get the information but because I couldn't even get added to the account until 6-9 months later I wasnt able to do it. Even after they said they would send out the data it was months before they actually sent it. We had to make threats in order to get any action.. Fast forward I finally am accepted into the loss mitigation program and they come back in XXXX with an offer. We felt it was to steep. but our account representative said we could appeal. It was also stated on the document that outlines the offer.. I sent in an appeal notice, they said it takes 30 days to receive an answer. I finally got a response to the appeal and they said the terms would be the same. In the letter it said I have 14 calendar days from the date on the letter to let them know how I wish to proceed, meaning if I would take the original offer. In addition to that the representative told me that after the appeal I could take the original offer. While I sent in my response to them with in the 14 day period they sent me a letter to say I defaulted on my loan agreement. I said I was appealing the matter and no one said that while appealing you must make the payments on the arrangement offered until otherwise notified. They sent this latter to my bankruptcy attorney and me saying I defaulted.on it. I did not default I appealed it and during the appeal process in any situation things stop until a decision is rendered. If that was an requirement that should have been explained. However even in all this time when I received correspondence stating that I was in the loss mitigation program their lawyers kept telling my attorney that they new nothing of it. and they were petitioning to have the automatic stay lifted.. In addition to that it wasn't a modification the payment went up from XXXX a month to XXXX a month. My dad is retired and his income does not support that. They said it stood. I have had about 10 account reps. They ask for something I send it over and then I wait then follow up only to find out that person isn't my representative. They also said they are not tied to XXXX XXXX but I feel they are they use the same attorney and a few other things that I felt indicated a tie to XXXX XXXX. The lack of communication, information, and accessibility are all designed to keep us from keeping our home. They made me feel they were trying to aid me in keeping my home but they haven't. I spoke to a manager yesterday and he assured he would find out my options and call me back and he hasn't. This is the customer support given here.
Company Response: Closed with explanation
2019-07-10
Santa Ysabel, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have had a very difficult time with Fay Servicing and XXXX XXXX my manager. I have tried to submit for a loan modification 2 times. I was never able to communicate to the same person which always caused confusion. XXXX XXXX always seemed to lose my paperwork, which I constantly had to re-fax. I was declined for a modification because I extended my maximum reviews!?!
The first time I applied Fay Servicing declined me because I had equity and I am self employed. Which sounded made up and completely illegal. I had a medical hardship which caused me too miss some payments. I was over my hardship and back to work so I applied for the modification. This qualifies me for a modification based on mortgage banking guidelines. So I applied a 2nd time thinking this had to be a mistake.
The 2nd time, I applied I had help with a free service that help me make sure my underwriting was done correctly since I am self employed. Everything looked good so we sent it in. Based on the guidelines I can afford my mortgage and just need a modification to avoid foreclosure. Fay Servicing then declined my file stating I had exceeded the allowed reviews? This is my 2nd review and I submitted because the fist denial seemed illegal.
I know for a fact the 1000 's & 1000 's of home owners have received loan modifications that have equity. And based on the California Bill of Rights I am allowed to appeal and apply again. Fay Serving only seems to lie, and make up excuses to review my file. Both decline reasons from Fay Servicing do not even seem to be honest or legal.
Company Response: Closed with explanation
2019-07-09
VA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: Our mortgage was sold to this company called Fay Servicing based in XXXX IL. Our mortgage was originally with XXXX and was sold to Fay servicing. The amount of our mortgage payment with XXXX was {$1600.00}, and has steadily grown over time to its present amount of {$2000.00}. This is way more than we can afford and was wondering as a consumer what my next step would be. I have heard that this Company is in a class action lawsuit for their illegal practices. I am struggling to get the funds together to pay the {$15000.00} they were asking for last week, they called today and said they needed {$20000.00} to save my house from foreclosure. That's {$5000.00} more in one week, how can they do this? Please tell me what rights I have as a consumer if any.
Company Response: Closed with explanation
2019-07-09
Irondequoit, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-07-08
Chesapeake, VA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-07-04
NY
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Our mortgage was sold back in XX/XX/XXXX to Faye Mortgage Service. ( Mortgage XXXX ). At the time our mortgage was sold we were not appraised of the sale. In XX/XX/XXXX or XXXX of XXXX we received notification that our home was in foreclosure and that we were 6 months in arrears. All along XXXX XXXX had been receiving our payments. We were at that time able to direct them to XXXX XXXX to straighten things out. However they continued to tell us we were in arrears. We sent them two years of cancelled checks as verification that we were not in arrears. We get names of people assigned to our case who we speak to for one minute who then never call us back - we send emails ; write letters and call. No one ever responds. We have sent numerous emails each time with copies of cancelled checks. Now they refuse to accept our mortgage payments as they say we are either in foreclosure or pre-foreclosure. This is unfair. No one at Faye ever ever ever responds. Ever. This is a transactional issue between Faye and XXXX and I am about to loose my house over this - I need help.
Company Response: Closed with explanation
2019-07-03
Blyn, WA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-07-03
Superstition Mtn, AZ
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: in XXXX of XXXX, XXXX XXXX sold our Mortgage to Fay servicing. The XXXX payment was sent to XXXX XXXX. XXXX XXXX sent a letter to us advising that Fay servicing was the new lender and the payment was forwarded on to them. Fay servicing is unable, and unwilling to locate that XXXX payment. Starting in XXXX of XXXX, I began trying to work with Fay servicing to get this corrected. I provided them copies of the XXXX letter and front and back copies of the check that was sent for the payment. After 6 months of trying to get this resolved i was informed by Fay servicing that I needed to contact XXXX XXXX and see how the funds were sent to them and get the conformation information.. Even though we have provided proof that the payment was made, fay servicing is reporting late payments on our credit report.
After a conference call today with XXXX XXXX and Fay servicing, Fay servicing stated that the onus is on them to research and locate the payment, and that until chase proves that they payment was sent, they were going to continue to report late payments to my credit score. This is now 7 months or trying to get this resolved.
Company Response: Closed with explanation
2019-06-30
Granada Hills, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-06-29
La Tijera, CA
Closing on a mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-06-28
IL
Trouble during payment process
Mortgage: FHA mortgage
Complaint: I just got one issue resolved with Fay Servicing and called today to make my paynent. I asked why I still could not make a payment online and was told because my loan was at maturity since XXXX!
I got this as FHA i believe in XXXX and it was a 30 year fixed orginally with XXXX XXXX then to XXXX.
A few years ago it was bought by XXXX and now Fay. Fay is saying that my loan is a 15 year ballon? and that XXXX modified the loan. I did receive a modification for six months in reduced payments in XXXX or XXXX by XXXX but Fay is saying it was modified in XXXX.
Furthermore, would I not have received something from someone back on XXXX that said my mortgage loan has reached maturityi have been making my payments and planning my retirement around the 30 year fixed. They are also saying my balance s XXXX how is that even possible with making payments of XXXX.. per month on the original loan amount was XXXX or XXXX How can a company like Fay just say oh by the way.. they have had my losn for over a year.
I talked to them today and they took ly payment but they said the few are sitting in suspense! I dont even understand.
Somebody please help me there is just no was a bank would not tell you about your loan. I didnt even know it moved each serving each until i went and msde a payment.
Ive read all the horror stories with Fay and I am scared of what they have they I do not lnow about.
Company Response: Closed with explanation
2019-06-28
Los Angeles, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-06-27
Penn Hills, PA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-06-25
Flint, MI
Took or threatened to take negative or legal action
Debt collection: Mortgage debt
Seized or attempted to seize your property
Complaint: on XX/XX/2019 i spoke with a Ms.XXXX XXXX because i received a call at work that i may have to leave work to take my mother to the hospital. i gave her a call and she was upset saying that she had received a call from Fay Services that they had foreclosed on her home and she had to send them XXXX a year for Escrow and as well as insurance.
But the thing is that the house is paid for and has been for the 35+ years. this is not the first time that Fay Services has gotten monies from my Mother she sent them monies before with them saying that her or my now deceased father had took out a loan from XXXX? i asked her and she said it never happen.
moving forward i spoke to Ms. XXXX and was told that my mother had a mortgage i let her know that the house was paid off 30+ years ago she then said she had to put me on hold .after about 20 minutes she came back and said that it was for insurance i then inform her that it was a fire at the house and there was no insurance on the house until it was remodel she then said something about a " lean Policy " i asked her what did we need in order to straighten this matter up and she told me to send the documents i asked what documents and to either send me a email or a fax to my office and was told that in order to send a " Email '' it would involved getting it approved by the Government..Red flag ..i said how can i send the documents that you want if you can't tell me what it is that i should send, i then aske if it was a office that we could meet at eithe in the XXXX area or surrounding area and the answer was no .i then looked up FAY SERVICES and found that it was numerous complaints on then so now i'm reaching out to your agency for help thanks XXXX XXXX as you can see in the doc it don't say documents its for i'm confuse
Company Response: Closed with explanation
2019-06-24
Boston, MA
Written notification about debt
Debt collection: Mortgage debt
Didn't receive notice of right to dispute
Company Response: Closed with explanation
2019-06-24
NY
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Please see signed, executed, and notarized Qualified Written Request as an attachment. Due to the limit of characters on this CFPB portal I was not able to place all the questions of the QWR, as a result I have attached it for your review and response. Some of the questions from the original physical copy are typed out below but not in it's entirety. Please answer all questions from the attachment, as the attachment is complete, signed, executed and notarized. I will mail out all physical copies to all 4 parties certified return receipt via USPS.
RESPA QUALIFIED WRITTEN REQUEST, COMPLAINT, DISPUTE OF DEBT & VALIDATION OF DEBT LETTER, TILA REQUEST This letter is a qualified written request in compliance with and under the Real Estate Settlement Procedures Act, 12 U.S.C. Section 2605 ( e ) and Regulation X 24 C.F.R. 3500, and The Gramm Leach Bliley Act.
RE : Alleged Account # : XXXX XXXX XXXX XXXX, XXXX XXXX, NY XXXX Property address Dear Madam or Sir : Please be advised of your legal obligation to answer this Qualified Written Request and to obtain all records and documents pertaining to the above-mentioned Loan No. This request is made pursuant to the Real Estate Settlement and Procedures Act ( RESPA ). We have reason to believe that certain disclosures and documentation have been withheld in violation of the Truth in Lending Act ( TILA ) and that various Real Settlement Procedures Act ( RESPA ) loan servicing errors may have occurred.
To ensure that any legal claims are brought against the appropriate parties we are requesting evidence to support or exclude Fay Servicing and to satisfactorily provide us a good clear and clean hands understanding and clarification from you, of various sale, transfer, funding source, legal and beneficial ownership, charges, credits, debits, transactions, reversals, actions, payments, analyses and records related to the servicing of this account from its origination to the present date. Your due diligence and lawful compliance in the production of documentation to refute the fact that Fay Servicing has been erroneously holding an alleged right, title, or interest in the alleged account or alleged property/note is vital.
To date, the documents and information we have received from Fay Servicing and our escrow files including subsequent records do not answer many questions. Any refusal to answer our request will be considered a predatory servicing or lending and servicing schemes. As consumers, we are extremely disturbed by the complete disregard for the law pertaining to this mortgage transaction by Fay Servicing and/or anyone who may have any interest in this matter.
I am disputing the validity of the current debt you claim that I owe. To independently validate this debt, I need to conduct a complete exam, audit, review and accounting of my mortgage loan from its inception until the present date. Upon receipt of this letter, please refrain from reporting any negative credit information to any credit reporting agencies until you respond to my requests.
I also request that you conduct your own investigation and audit of my account since its inception to validate the debt you claim I owe you is accurate to the penny. Please do not rely on previous servicers or originators assurances or indemnity agreements and refuse to conduct a full audit and investigation of my account.
I want to ensure that I or [ we ] have not been the victim of such predatory practices. To insure this, I have authorized a thorough review, examination, accounting and audit of my mortgage loan # : XXXX by predatory lending experts. This exam and audit will review my mortgage loan file from the date of my initial contact, application and the origination of my loan to the present date written above.
Needless to say, we are most concerned that fraudulent and deceptive practice by unscrupulous mortgage brokers ; sales and transfers of mortgage servicing rights ; deceptive and fraudulent servicing practices to enhance balance sheets ; deceptive, abusive and fraudulent accounting tricks and practices may have also negatively affected any credit rating, mortgage account and /or the debt or payments that we are currently, or may be legally obligated to. This behavior concerns me since such abuses are targeting the uninformed consumer and disadvantaged, poor, elderly and minorities. I am vehemently concerned as an alleged borrower. As a result, and many other reasons, this leads me to believe that I may be a victim of predatory lending. I am disputing the validity of the current debt you claim I owe. By debt I am referring to : a. The principal balance claimed owed ; b. My calculated monthly payment ; c. Calculated escrow payment ; d. Any fees claimed to be owed by you or any trust or entity you may represent I have reason to believe that the loan terms were misrepresented to me at the time of application and further obscured and/or modified prior to signing. I believe that my income may have been inflated on the application. I also have reason to believe that certain statements were not provided for my approval prior to closing, and that signatures may have been forged on various documents. It is also my belief that certain documents may have not been presented at all. Additionally, I believe that a notary was not physically present to witness my signatures on several pertinent documents and that I was ill advised at the time of closing. To independently validate my debt, I need to conduct a complete exam, audit, review and accounting of my mortgage loan from its inception through the present date.
I have been given the runaround by Fay Servicings employees on countless occasions. I have talked to several agents whom have provided me with different responses to the same questions I have inquired on how to receive my response to the QWR, but to no avail. I have been intentionally re-routed to the wrong department or individuals, dozens of times to hamper my ability to seek the answers I was looking for. This letter should serve, once and for all, to get the proper answers from Fay Servicing.
We hereby demand absolute first hand evidence from you of the original un-certificated or certificated security regarding account number : XXXX. In the event you do not supply us with the very security it will be a positive confirmation on your part that you never really created and owned one. We also hereby demand that a chain of transfer from you to wherever the security is now be promptly sent to us as well. Absent the actual evidence of the security we have no choice but to dispute the validity of your lawful ownership, funding, entitlement right, and the current debt you allege we owe. By debt we are referring to the principal balance you claim we owe ; the calculated monthly payment, calculated escrow payment and any fees claimed to be owed by you or any trust or entity you ma
y service or sub-service for. As such, please treat this letter as a Qualified Written Request under the Real Estate Settlement Procedures Act, codified as Section 2605 ( e ) of Title 12 of the United States Code. As you know, RESPA provides substantial penaltie
s and fines for non-compliance or answers to my questions provided in this letter within sixty [ 60 ] days!
In order to conduct this examination and audit, I need to have full and immediate disclosure including copies of all pertinent information regarding my loan. The documents requested and answers to questions are needed by my counsel and the predatory lending experts retained to ensure that my loan : Was originated in lawful compliance with all federal and state laws, regulations including, but not limited to RESPA, HOEPA and other laws ; That any sale or transfer of my loan was conducted in accordance with proper laws and was a true sale of my note ; That the claimed holder in due course of my promissory note and deed of trust is holding such note in compliance with State and Federal laws and is entitled to the benefits of my payments ; That all appropriate disclosures of terms, costs, commissions, rebates, kickbacks, fees etc. Were properly disclosed to me at the inception of my loan ; That each servicer and sub-servicer of my mortgage has serviced my mortgage in accordance with the terms of my mortgage, promissory note and/or deed of trust ; That each servicer and sub-servicer of my mortgage has serviced my mortgage in compliance with local, state and federal statutes, laws and regulations ; That my loan has properly been credited, debited, adjusted, amortized and charged correctly ; That interest and principal have been properly calculated and applied to my loan ; That my principal balance has been properly calculated and accounted for ; That no charges, fees or expenses, not obligated by me in any agreement, have been charged or assessed to or collected on my account ; In order to validate my debt and audit my account, I need copies of pertinent documents to be provided and answers in writing to various servicing questions to be sent to me.
For each record kept on computer or in any other electronic file or format, please provide a paper copy of all information in each field or record in each computer system, program or database used by you that contains any information on my account.
As such, please send to me, at the address above, copies of the documents requested below as soon as possible. Please provide me copies of : 1. All data, information, notations, text, figures and information contained in your mortgage servicing and accounting computer systems including, but not limited to XXXX XXXX XXXX, any system by XXXX or any other similar mortgage servicing software used by you, any servicers, or sub-servicer of my mortgage account from the inception of my loan to the date written above.
2. All descriptions and legends of all Codes used in your mortgage servicing and accounting system so that the examiners, auditors and experts retained to audit and review my mortgage account may properly conduct their work.
3. All purchase and sale of mortgage agreements, sale or transfer of servicing rights or other similar agreement related to any assignment, purchase or sale of my mortgage loan or servicing rights by you, any broker, affiliate company, parent company, servicers, bank, government sponsored enterprise, sub-servicers, mortgage broker, mortgage banker or any holder of any right related to my mortgage, promissory note and deed of trust from the inception of my loan to the present date.
4. A copy of the Prospectus offered to investors in the trust.
5. All prospectus related to the sale or transfer of my note, deed of trust, mortgage and servicing rights or other similar agreement related to any assignment, purchase or sale of my mortgage loan or servicing rights by you, any broker, affiliate company, parent company, servicers, bank, government sponsored enterprise, sub-servicers, mortgage broker, mortgage banker or any holder of any right related to my mortgage, promissory note and deed of trust from the inception of my loan to the present date.
6. All assignments, transfers, alonges, or other document evidencing a transfer, sale or assignment of my mortgage, deed of trust, promissory note or other document that secures payment by me to my obligation in this account from the inception of my loan to the present date.
7. All deeds in lieu, modifications to my mortgage, promissory note or deed of trust from the inception of my loan to the present date.
8. A complete and itemized statement of the escrow account of the loan, if any, from the date of the loan to the date of this letter, including, but not limited to, any receipts or disbursements with respect to real estate property taxes, fire or hazard insurance, flood insurance, mortgage insurance, credit insurance, or any other insurance product.
9. A complete and itemized statement from the date of the loan to the date of this letter of any property inspection fees, property preservation fees, broker opinion fees, appraisal fees, bankruptcy monitoring fees, or other similar fees or expenses related in any way to this loan.
10. The front and back of each and every canceled check, money order, draft, debit or credit notice issued to any servicer of my account for payment of any monthly payment, other payment, escrow charge, fee or expense on my account.
11. A complete and itemized statement of any and all post-petition arrears including each month in which the default occurred, and the amount of each monthly default.
12. A complete and itemized statement of any funds deposited in any post-petition suspension account ( s ) or corporate advance account ( s ), including, but not limited to, the balance in any such account or accounts and the nature, source and date of any and all funds deposited in such account or accounts.
13. A complete and itemized statement from the date of this loan to the date of this letter of the amount, payment date, purpose and recipient of all foreclosure expenses, NSF check charges, legal fees, attorney fees, professional fees and other expenses and costs that have been charged against or assessed to this mortgage.
14. All escrow analyses conducted on my account from the inception of my loan until the date of this letter ; 15. The front and back of each and every canceled check, draft or debit notice issued for payment of closing costs, fees and expenses listed on my disclosure statement including, but not limited to, appraisal fees, inspection fees, title searches, title insurance fees, credit life insurance premiums, hazard insurance premiums, commissions, attorney fees, points, etc.
16. Front and back copies of all payment receipts, checks, money orders, drafts, automatic debits and written evidence of payments made by me or by others on my account.
17. The amount, if applicable, of any satisfaction fees.
18. A complete and itemized statement of the amount, payment date, purpose and recipient of all fees for the preparation and filing of the original proof of claim, any amended proofs of claim, or any supplemental proofs of claim related to this mortgage.
19. All letters, statements and documents sent to me by your company ; 20. All letters, statements and documents sent to me by agents, attorneys or representatives of your company ; 21. All letters, statements and documents sent to me by previous servicers, sub-servicers or others in your loan file or in your control or possession or in the control or possession of any affiliate, parent company, agent, sub-servicer, servicer, attorney or other representative of your company.
22. All letters, statements and documents contained in my loan file or imaged by you, any servicer or sub-servicers of my mortgage from the inception of my loan to present date.
23. All electronic transfers, assignments, sales of my note, mortgage, deed of trust or other security instrument.
24. All copies of property inspection reports, appraisals, BPOs and reports done on my property.
25. All invoices for each charge such as inspection fees, BPOs, appraisal fees, attorney fees, insurance, taxes, assessments or any expense which has been charged to my mortgage account from the inception of my loan to the present date.
26. All checks used to pay invoices for each charged such as inspection fees, BPOs, appraisal fees, attorney fees, insurance, taxes, assessments or any expense which has been charged to my mortgage account from the inception of my loan to the present date.
27. Have you purchased and charged to the account any Vendors Single Interest Insurance?
28. All agreements, contracts and understandings with vendors that have been paid for any charge on my account from the inception of my loan to the present date.
29. A complete and itemized statement from the date of the loan to the date of this letter of any forced-placed insurance and expenses related thereto, related in any way to this loan.
30. All loan servicing records, payment payoffs, payoff calculations, ARM audits, interest rate adjustments, payment records, transaction histories, loan histories, accounting records, ledgers, and documents that relate to the accounting of my loan from the inception of my loan until present date?
31. All loan servicing transaction records, ledgers, registers and similar items detailing how my loan has been serviced from the from the inception of my loan until present date?
Further, in order to conduct the audit and review of my account, and to determine all proper amounts due, I need the following answers to questions concerning the servicing and accounting of my mortgage account from its inception to the present date. Accordingly, can you please provide me, in writing, the answers to the questions listed below.
LOAN ACCOUNTING & SERVICING SYSTEMS 1 ) Please identify for me each loan accounting and servicing system used by you and any sub-servicer or previous servicer from the inception of my loan to the present date?
2 ) The name, address and phone number of any master servicers, servicers, sub-servicers, contingency servicers, back-up servicers or special servicers for the underlying mortgage debt.
3 ) For each loan accounting and servicing system identified by you and any sub-servicer or previous servicer from the inception of my loan to the present date, please provide the name and address of the company or party that designed and sold the system?
4 ) For each loan accounting and servicing system used by you and any sub-servicer or previous servicer from the inception of my loan to the present date, please provide the complete transaction code list for each system.
DEBITS & CREDITS 1 ) In a spreadsheet form or in letter form in a columnar format, please detail for me each and every credit on my account and the date such credit was posted to my account as well as the date any credit was received.
2 ) In a spreadsheet form or in letter form in a columnar format, please detail for me each and every debit on my account and the date such credit was posted to my account as well as the date any debit was received.
3 ) For each debit or credit listed, please provide me with the definition for each corresponding transaction code you utilize?
4 ) For each transaction code, please provide us with the master transaction code list used by you or previous servicers.
MORTGAGE & ASSIGNMENTS 1 ) Has each sale, transfer or assignment of my mortgage or promissory note or any other instrument I executed to secure my debt been recorded in the county property records in the county and state in which my property is located from the inception of my loan to the present date? Yes or No?
2 ) If no, why?
3 ) Have any sales, transfers or assignments of my mortgage or promissory note or any other instrument I executed to secure my debt been recorded in any electronic fashion such as MERS or other internal or external system from the inception of my loan to the present date? Yes or No?
4 ) If yes, state the full name and address of the Electronic Agent and the full name and address of the Mortgage Electronic Registration System. Attach a copy of the mortgage electronic registration system procedures manual. Please detail for me the names of each seller, purchaser, assignor, assignee or any holder in due course to any right or obligation of any note, mortgage, deed or security instrument I executed securing the obligation on my account that was not recorded in the county records where my property is located.
5 ) Is this a MERS Designated Mortgage Loan? If the answer is yes, then identify the electronic agent and the type of mortgage electronic system used by the agent.
6 ) Is this mortgage part of a Mortgage Warehouse Loan? If so, then state the full name and address of the Lender and attach a copy of the Warehouse Loan Agreement.
7 ) Upon any default or notice of default, state whether or not the Mortgage Warehouse Lender has the right to override any servicers or sub-servicers and provide instructions directly to the Electronic Agent? If the answer is yes, then specifically identify the legal basis for such authority.
ATTORNEY FEES 1 ) For purposes of my questions below dealing with attorney fees, please consider the terms attorney fees and legal fees to be one in the same.
2 ) A summary of all fixed or standard legal fees approved for any form of legal services rendered in connection with this account.
3 ) Have attorney fees ever been assessed to my account from the inception of my loan to the present date?
4 ) If yes, please detail each separate assessment of attorney fees to my account from the inception of my loan to the present date and the date of such assessment to my account?
5 ) Have attorney fees ever been charged to my account from the inception of my loan to the present date?
6 ) If yes, please detail each separate charge of attorney fees to my account from the inception of my loan to the present date and the date of such charge to my account?
7 ) Have attorney fees ever been collected from my account from the inception of my loan to the present date?
8 ) If yes, please detail each separate collection of attorney fees from my account from the inception of my loan to the present date and the date of such collection from my account?
9 ) Please provide for me the name and address of each attorney or law firm that has been paid any fees or expenses related to my account from the inception of my loan to the present date?
10 ) Please identify for me in writing the provision, paragraph, section or sentence of any note, mortgage, deed of trust or any agreement I signed authorized the assessment or collection of attorney fees?
11 ) Please detail and list for me in writing each separate attorney fee assessed to my account and for which corresponding payment period or month such late fee was assessed from the inception of my loan to present date.
12 ) Please detail and list for me in writing each separate attorney fee collected from my account and for which corresponding payment period or month such late fee was collected from the inception of my loan to present date.
13 ) Please detail and list for me in writing any adjustments in attorney fees assessed and on what date such adjustment was made and the reasons for such adjustment.
14 ) Please detail and list for me in writing any adjustments in attorney fees collected and on what date such adjustment were made and the reasons for such adjustment.
15 ) Has interest been charged on any attorney fee assessed or charged to my account? Yes or No?
16 ) Is interest allowed to be assessed or charged on attorney fees charged or assessed to my account? Yes or No?
17 ) How much in total attorney fees have been assessed to my account from the inception of my loan until present date? $ ____________ 18 ) How much in total attorney fees have been collected on my account from the inception of my loan until present date? $ __________ SUSPENSE/UNAPPLIED ACCOUNTS 1 ) For purposes of this section, please treat the term suspense account and unapplied account as one in the same.
2 ) Has there been any suspense or unapplied account transactions on my account from the inception of my loan until present date?
3 ) If yes, why? If no, please skip the questions in this section dealing with suspense and unapplied accounts.
4 ) In a spreadsheet or in letterform in a columnar format, please detail for me each and every transaction, both debits and credits that has occurred on my account from the inception of my loan until present date?
LATE FEES 1 ) For purposes of my questions below dealing with late fees, please consider the terms late fees and late charges to be one in the same.
2 ) A complete and itemized statement of any late charges to this loan from the date of this loan to the date of this letter.
3 ) Have you reported the collection of late fees on my account as interest in any statement to me or to the IRS? Yes or No?
4 ) Has any previous servicer or sub-servicer of my mortgage reported the collection of late fees on my account as interest in any statement to me or to the IRS? Yes or No?
5 ) Do you consider the payment of late fees as liquidated damages to you for not receiving my payment on time? Yes or No?
6 ) Are late fees considered interest? Yes or No?
7 ) Please detail for me in writing what expenses and damages you incurred for any payment I made that was late.
8 ) Were any of these expenses or damages charged or assessed to my account in any other way? Yes or No?
9 ) If yes, please describe what expenses or charges were charged or assessed to my account?
10 ) Please describe for me in writing what expenses you or others undertook due to any payment I made which was late?
11 ) Please describe for me in writing what damages you or others undertook due to any payment I made which was late?
12 ) Please identify for me in writing the provision, paragraph, section or sentence of any note, mortgage, deed of trust or any agreement I signed authorized the assessment or collection of late fees?
13 ) Please detail and list for me in writing each separate late fee assessed to my account and for which corresponding payment period or month such late fee was assessed from the inception of my loan to present date.
14 ) Please detail and list for me in writing each separate late fee collected from my account and for which corresponding payment period or month such late fee was collected from the inception of my loan to present date.
15 ) Please detail and list for me in writing any adjustments in late fees assessed and on what date such adjustment was made and the reasons for such adjustment.
16 ) Please detail and list for me in writing any adjustments in late fees collected and on what date such adjustment was made and the reasons for such adjustment.
17 ) Has interest been charged on any late fee assessed or charged to my account? Yes or No?
18 ) Is interest allowed to be assessed or charged on late fees charged or assessed to my account? Yes or No?
19 ) Have any late charges been assessed to my account? Yes or No?
20 ) If yes, how much in total late charges have been assessed to my account from the inception of my loan until present date? $ ____________ 21 ) Please provide me with the exact months or payment dates you or other previous servicers of my account claim I have been late with a payment from the inception of my loan to the present date.
22 ) Have late charges been collected on my account from the inception of my loan until present date? Yes or No?
23 ) If yes, how much in total late charges have been collected on my account from the inception of my loan until present date? $ __________ PROPERTY INSPECTIONS 1 ) Please attach copies of all property inspection reports and appraisals, including comparable properties which where used to arrive at value for the above loan.
2 ) For purposes of this section property inspection and inspection fee refer to any inspection of my property by any source and any related fee or expense charged for such inspection.
3 ) Have any property inspections been conducted on my property from the inception of my loan until the present date?
4 ) If your answer is no, you can skip the rest of these questions in this section concerning property inspections?
5 ) If yes, please tell me the date of each property inspection conducted on my property that is the secured interest for my mortgage, deed or note?
6 ) Please tell me the price charged for each property inspection?
7 ) Please tell me the date of each property inspection?
8 ) Please tell me the name and address of each company and person who conducted each property inspection on my property?
9 ) Please tell me why property inspections were conducted on my property?
10 ) Please tell me how property inspections are beneficial to me.
11 ) Please tell me how property inspections are protective of my property.
12 ) Please explain to me your policy on property inspections.
13 ) Do you consider the payment of inspection fees as a cost of collection? Yes or No?
14 ) If yes, why?
15 ) Do you use property inspections to collect debts? Yes or No?
16 ) Have you used any portion of the property inspection process on my property to collect a debt or inform me of a debt, payment or obligation I owe?
17 ) If yes, please answer when and why?
18 ) Please identify for me in writing the provision, paragraph, section or sentence of any note, mortgage, deed of trust or any agreement I signed authorized the assessment or collection of property inspection fees?
19 ) Have you labeled in any record or document sent to me a property inspection as a misc. advance? Yes or No?
20 ) If yes, why?
21 ) Have you labeled in any record or document sent to me a property inspection as a legal fee or attorney fee? Yes or No?
22 ) If yes, why?
23 ) Please detail and list for me in writing each separate inspection fee assessed to my account and for which corresponding payment period or month such fee was assessed from the inception of my loan to present date.
24 ) Please detail and list for me in writing each separate inspection fee collected from my account and for which corresponding payment period or month such fee was collected from the inception of my loan to present date.
25 ) Please detail and list for me in writing any adjustments in inspection fees assessed and on what date such adjustment was made and the reasons for such adjustment.
26 ) Please detail and list for me in writing any adjustments in inspection fees collected and on what date such adjustment was made and the reasons for such adjustment.
27 ) Has interest been charged on any inspection fees assessed or charged to my account? Yes or No?
28 ) If yes, when and how much was charged?
29 ) Is interest allowed to be assessed or charged on inspection fees charged or assessed to my account? Yes or No?
30 ) How much in total inspection fees have been assessed to my account from the inception of my loan until present date? $ ____________ 31 ) How much in total inspection fee have been collected on my account from the inception of my loan until present date? $ __________ BPO FEES 1 ) Have any BPOs [ Brokers Price Opinions ] been conducted on my property?
2 ) If yes, please tell me the date of each BPO conducted on my property that is the secured interest for my mortgage, deed or note?
3 ) Please tell me the price of each BPO?
4 ) Please tell me who conducted each BPO?
5 ) Please tell me why BPOs were conducted on my property 6 ) Please tell me how BPOs are beneficial to me.
7 ) Please tell me how BPOs are protective of my property.
8 ) Please explain to me your policy on BPOs.
9 ) Have any BPO fees been assessed to my account? Yes or No?
10 ) If yes, how much in total BPO fees have been assessed to my account? $ ________ 11 ) Have any BPO fees been charged to my account? Yes or No?
12 ) If yes, how much in total BPO fees have been charged to my account? $ ______ 13 ) Please tell me specifically what clause, paragraph and sentence in my note, mortgage or deed of trust or any agreement I have executed allows you to assess, charge or collect a BPO fee from me.
SERVICING RELATED QUESTIONS For each of the following questions listed below, please provide me with a detailed explanation in writing that answers each question : In addition, I need the following answers to questions concerning the servicing of my mortgage account from its inception to the present date. Accordingly, can you please provide me, in writing, the answers to the questions l
Company Response: Closed with explanation
2019-06-24
Newark, NJ
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-06-20
Pikeville, NC
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: Was out of work for a year collecting a XXXX dollars unemployment contacted fay servicing seek hardship relief only to strung along for a whole and denied help. Hired company to help was finally given trial modifocation where must pay XXXX by XX/XX/2019 then XXXX a month.
Company Response: Closed with explanation
2019-06-19
OH
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: TO : Consumer Financial Protection Bureau RE : Fay Mortgage Services a division of Fay Servicing LLC Borrower Account Number - XXXX Regulated by Colorado Division of Real Estate CC : Colorado Division of Real Estate XXXX XXXX XXXX XXXX XXXX, Co XXXX XXXX CC : Fay Servicing , LLC XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, IL XXXX Attention : XXXX XXXX XXXX and XXXX XXXX General Counsel Facsimile : ( XXXX ) XXXX and ( XXXX ) XXXX XXXX XXXX : Fay Servicing LLC NMLS # XXXX Dear CFPB Complaint Department, I am writing to request your assistance on a serious issue Im facing with Fay Servicing LLC. Attached below this cover letter is a detailed letter that outlines the issues surrounding my complaint. This letter was sent directly to Fay Servicing on XX/XX/XXXX. As of this date I have received no response from Fay Servicing. This lack of response has been a typical experience regarding my numerous requests ( over 26 times ) on this matter over the last few years.
Specifically, the issue concerns my payoff balance which is being incorrectly calculated by Fay Servicing who purchased the loan from XXXX as an in-flight modification in XXXX. This was the second modification that XXXX completed for me after my suffering a XXXX XXXX and the global financial crisis which had cost me a very high paying job and thereby impacting my ability to pay my mortgage. The deferred balances on the deferral was then written off as a cancellation of debt by XXXX which you will find proof as an attachment from the IRS below. All of this has been shared with Fay Servicing over the years on multiple occasions. In an effort to resolve this issue, I repeatedly requested copies of modification documents, the amount that Fay Servicing ( or their investor client ) had paid for the mortgage loan they acquired from XXXX ( which would provide an insight into the balance question and the simple math calculation which I explain in detail in the letter below ) and requesting the amount Fay ( or their investor client ) had paid for the payoff deferral, if any, which is the major source of the problem. Thus far, they have been unable to provide this information.
The real estate crisis also negatively impacted the value of my home from $ XXXX appraisal in XXXX to less than $ XXXX at the height of the financial crisis. After the loan was purchased by XXXX, I leveraged all my assets to bring the loan current and avoid foreclosure in XXXX. Although I realize I became delinquent in my payments, I feel my personal commitment to not walk away from my obligations has not been embraced or respected ; rather has been met with multiple difficulties from financial institutions. This includes an interest rate increase ( per the modification ) in XXXX to 5.75 % which was well above the market at that time ( in the 3.5 % range ) because lenders ( including Fay Mortgage XXXX would not allow me to refinance a previously modified loan.
For 4 years I have been trying to sell my home believing that the market would recover my lost equity. On XX/XX/XXXX, I completed the sale of the home for $ XXXX and paid off the balance that Fay Servicing provided the Title Company. The payoff balance Fay provided was {$110000.00} above what I thought the payoff would be ; in addition, they also charged me multiple late fees totaling over $ XXXX which Ive explained below. I requested help from Fay to resolve this issue, or at a minimum provide me with a reconcilement proving the higher payoff balance was correct. I was concerned if I did not close on the sale of the property it might be a long wait to find another buyer. I paid off the loan on XX/XX/XXXX to include the additional {$110000.00} and $ XXXX in fees. In addition to the incorrect calculation of the deferred balance of {$110000.00}, as stated above Fay Servicing also charged me multiple late fees totaling over $ XXXX. Upon paying the back payments in XXXX I was told by a representative from Fay Servicing that as long as my payment was received in the current month they would not be charging the late fees ( Ive asked XXXX to check their phone recordings to find these conversations for validation ) and given my limited income I informed them I would need to pay at the end of the month rather than the beginning. In full transparency, I was told by a representative in XXXX XXXX that this procedure for late fees was being changed and from that time forward the fee would be charged if not received before the XXXX. I requested that they then waive the previous fees ( approx $ XXXX ) and I would be responsible for all late fees after that time. Fay ignored my numerous requests to address this issue as well, and at closing Fay Servicing charged me the entire $ XXXX amount.
Please provide assistance to resolve this issue. I do have legal counsel to recover the estimated {$130000.00} ( {$110000.00} deferred amount + {$21000.00} in late fees ) as well as any punitive damages possible. Due to cost of lawyers I am hoping your organization can assist before I fully engage counsel. While I appreciated the assistance XXXX gave me with the modifications to keep me and my family in our home during those tough years, the circumstances that resulted after the sale of my mortgage to Fay Servicing have been highly stressful and in my opinion unfair and illegal. Fay has taken advantage of my hard work to resolve my obligations by overcharging me at every opportunity and compounding the issue by ignoring my numerous efforts for resolve.
Thank you, XXXX XXXX XXXX COMPLAINT LETTER TO FAY BELOW Re : Borrower - Loan # XXXX Fay Servicing XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX copies to CFPB Error Resolution notice under 12 C.F.R 1024.35 Fay Servicing and cc 'd XXXX XXXX CEO Fay Servicing XXXX XXXX XXXX XXXX IL XXXX XXXX : Mortgage Loan # XXXX This letter provides information that Fay Servicing is relying on incorrect payoff balance data with the request to release the Title for the property at XXXX XXXX XXXX XXXX XXXX XXXX and causing me unjust and unfair damages accordingly. Since XXXX I have inquired over 26 times both by phone and in writing that the payoff on my loan is incorrect and have sought help from a supervisor or manager to resolve the matter ( you will hear my request on the dozens of recorded phone calls with 17 different Fay representatives during the timeframe of XXXX to present ). Your website does not allow me to look at statement history for previous years nor does it allow a detailed look since loan inception of amortization history so much of the details I provide here were given to me directly by your reps who apparently can see more than the website than borrowers can see.
As background, Fay Servicing acquired my loan from XXXX ( XXXX was also my former employer ) in XXXX as an in flight modification loan. XXXX had modified the loan twice since the original loan for {>= $1,000,000} due to my suffering a serious health issue, losing my income and coinciding with the global financial crisis beginning in XXXX. The second modification by XXXX occurred just prior to the time that Fay purchased the loan in XXXX ( in flight ). Prior to Fay taking over the loan and under the terms of the modification, XXXX wrote down {$400000.00} of principal and sent me a tax filing notice ( see attached ) of that amount. The {$400000.00} write-down was the combined amount of the two previous modification agreements and deferred balances that XXXX completed on my loan.
In XXXX Fay began Foreclosure proceedings against me for delinquent payments during the negotiation of the second modification and subsequently to Fay taking over the loan. Because my financial situation had improved, and because I believed the house had potential to recover from the financial meltdown that had impacted both my income and value of my property, I paid a large sum of money to Fay to stop the Foreclosure. ( Note-The procedures applied by Fay during this pre-foreclosure period will also be investigated as part of this complaint as I now better understand the laws protecting consumers and I question the way in which this was completed by Fay Servicing ).
Shortly after paying the large sum to stop the foreclosure, and under the terms of the second modification, the interest rate reset to a higher rate ( 5.75 % ) further adding to my already strained income. I began seeking refinance options as the current market rate at the time was in the 3.4 % -3.75 % range but was told by numerous banks, including the Fay Mortgage team, that we could not refinance because the loan was a previously modified loan.
We decided to sell the property and listed it with a realtor in XX/XX/XXXX at a price of {>= $1,000,000}. At that time, we provided our realtor with a recent monthly statement from Fay Servicing showing principal balance of approximately {$890000.00} ( Note : at that time the monthly statement was reporting the correct payoff ). A potential buyer presented an offer for the house at {>= $1,000,000} and the realtor requested that we seek a formal payoff at that time. Fay provided a payoff balance {>= $1,000,000} which included an additional deferred amount of {$110000.00} plus late penalties. It was at this time we realized that Fay was incorrectly calculating the pay-off balance on our loan by erroneously adding back the original deferred balance that XXXX had previously written off as part of the second modification ( and during the time Fay acquired the loan ). Applying simple math tells the story : Original Loan {>= $1,000,000} XXXX XXXX write down ( {$400000.00} ) Principal Paid since origination ( {$110000.00} ) Payoff estimate {$830000.00} Recognizing the error and believing it to be based on incorrectly interpreting the modification documents ( we believe Fay reps were looking at the original deferral {$110000.00} from the first loan modification at XXXX and applying it to the current payoff when that amount had already been written off by XXXX ) I vigorously began to request assistance to correct the error, speaking almost monthly to Fay reps requesting assistance of a supervisor and proof of the original documentation ( or any documentation ) to settle this dispute. During this time the prospective buyer rescinded the offer because we were not able to negotiate a price given the misinformation that Fay was relying on as payoff.
Over the last few months we have again been approached by a potential buyer. I requested payoff information and received the same incorrect result. Fay has not provided me with proof in writing of how, and why, they are calculating this amount and have told me that Fay does not have any original XXXX documentation only various scanned copies to a computer. I was told by your rep Ms. XXXX that she had called XXXX to request more information but has not been able to speak with anyone, but that she was satisfied that Fay is correct in its calculation. This is completely unacceptable, and I believe illegal, and I intend to seek all my options to resolve this matter.
Fay Servicing has caused me harm in multiple ways by denying contact for years with supervisors, neglecting call backs and not providing requested supporting documentation for their erroneous mistakes. Unless Fay provides immediate response along with the corrected payoff information to the XXXX XXXX listed below immediately, I will instruct my counsel to begin rigorous legal action on multiple complaints.
Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Attn : XXXX XXXX XXXX XXXX Co.
XXXX XXXX XXXX XXXX XXXX XXXX Co XXXX Fax XXXX
Company Response: Closed with explanation
2019-06-18
Milwaukee, WI
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-06-13
South Chatham, MA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2019-06-12
Jacksonville, FL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I was granted a modification to begin on XXXX with 3 trial payments to be made. I made payments payments in XXXX in which they were said to have been returned for insufficient funds. I contacted XXXX XXXX XXXX XXXX and XXXX XXXX several times a week over the month of XXXX regarding this matter, beginning on XX/XX/XXXX. I sent in EVERYTHING that was available to me from my banks as proof of payment, but was still told that no payment was received, which my bank states that they received it and provided Fay Servicing a copy of the endorsed check, transitional statement and wire transfer document. I was provided with a perm mod agreement and mailed back in, in which Ms XXXX states was received. On Friday XX/XX/XXXX I was told by XXXX XXXX of Fay Servicing LLC that my payment was received and the payment dept tracked the payment and my payment was indeed posted. On XX/XX/XXXX I received a call from Ms XXXX, stating that my payment ( the bank wire ) was received but was returned for insuficient funds. She advised me that my perm mod agreement was received and I was all good and could make my XX/XX/XXXX trial payment anytime during XX/XX/XXXX. She stated that the modification agreement that they offered was rescinded and there is no longer an agreement. She advised me to forward her something from the bank reflecting payment was actual a wire and not a check and she will have it researched with no guarantees that they will be willing to resume modification agreement. She advised me my next step would be lifting the foreclosure hold and proceeding with a foreclosure. I have done ALL of what was asked of me provided everything attempted to make several payments and I keep being told they have been returned for insufficient funds when my most recent payment was a wire from my credit union.
Company Response: Closed with explanation