Fay Servicing, LLC

2019-02-24

Spotsylvania, VA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-22

Jacksonville, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Fay Servicing who is the servicing lender of my mortgage loan # XXXX has continually delayed posting payments to my account until after the XXXX of the month and have so far charged me two late fees when in fact the payment has arrived on time prior to or on the XXXX of the month. I use my Bank 's bill payer service to send payments and they have a guaranteed delivery date of on or prior to the XXXX of the month. Fay Servicing delays posting these payments and does not post based on the day they receive the mail and waits several days to post. Most recent payment was sent out by my bank on XX/XX/2019 for guaranteed delivery by XX/XX/2019 and Fay Servicing did not post the payment to my account until XX/XX/19. They charged me a late fee of {$97.00} and I feel it is unjust. Fay Servicing has said they will not refund the late fee and that is not acceptable to me.
Company Response: Closed with explanation

Timely Response

2019-02-22

Carver, MA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-20

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-17

Fayetteville, GA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-15

Bremen, GA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: XXXX XXXX sold our loan to Fay Servicing LLC. Our first payment to them was for XX/XX/2019. I paid the exact amount {$520.00}. It cleared our bank XX/XX/19. My husband was notified last week by our acct manger that they had not received payment and was asked if hed like to make another. We called the bank and had them fax Fay a copy of the front and back of the check. I also emailed the bank statement showing were it cleared. He told us that the bank statement should be all we need and he would be in touch with us. We havent heard anything in the status. Yesterday ( XX/XX/19 ) I went through their website to pay because I was afraid to pay through bank again. They are showing we owe for XX/XX/XXXX AND XX/XX/XXXX. I called and had the bank fax them ANOTHER copy of the cleared check from XX/XX/XXXX at the acct managers attn. No one will answer or return our phone calls. I logged on this morning to see our balance and they are saying we owe for XX/XX/XXXX. So, they posted the payment to XX/XX/XXXX. However, it has not cleared the bank yet. I have saved the emails, I have the bank statement and copy of the XX/XX/XXXX check, and the copy of the confirmation where I paid yesterday along with the paper bill with a 2 month balance owed. Im afraid these people are going to ruin our credit. I spoke with an attorney yesterday and her advice was to refinance. Well, weve thought about that. However, when XXXX XXXX sold us ... our credit score took a huge hit. So we wouldnt get the best interest rate. Im just exhausted from dealing with all this.
Company Response: Closed with explanation

Timely Response

2019-02-15

Rockwell, NC

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: XXXX XXXX had my mortage which they turned the account over to Fay Servicing with no notice this account was sold to another company. Fay Servicing has stated my home is being foreclosure. I have made payments and have receipts where the payment was made. i did miss one payment with XXXX where the payment was supposed to be deferred but instead was not put down as such. i made one payment which was a parital payment. I have a very limited income and it is very hard but i have sent payments via money order, money gram but they still are foreclosing on the house. they also stated p ayments were being put into a fund and did not count as a payment made on the account. i do not know what to do. they are being very adamant about taking the house unless i come up with entire balance owed no payments accepted. Thank you : XXXX XXXX
Company Response: Closed with explanation

Timely Response

2019-02-15

San Diego, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-15

S Charleston, WV

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-12

NH

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: On XX/XX/XXXX I spoke with our account representative about the process of submitting a short pay offer. My A/R told me to submit an offer via email with the offer amount and proof of funds, which I did on XX/XX/XXXX. After no response from the A/R I called several times to make sure he had received the email. When I spoke with the A/R via phone about 2 weeks later, he told us that he had misspoken about the process and that he would be emailing me a form to fill out with my offer terms. I did not receive any form and emailed again XX/XX/XXXX to question when I would be getting this form. I never received a form and emailed again XX/XX/XXXX to inquire. After several voicemails that were never returned I called the Customer Service phone number XX/XX/XXXX and was connected to my A/R. He told me he was still waiting for the form from his boss and that he would send it to me before the end of the day. I confirmed my email and phone number with him. I never received a form. I called again XX/XX/XXXX and the A/R told me that my account had been transferred to a different account representative. He instructed me that I needed to resend my offer and proof of funds. He said he would send them to the new A/R. I sent him the information the same day. I left several email for the new A/R and she has never called me back. I called Customer Service again XX/XX/XXXX to confirm the receipt of my offer. The representative could not give me any information and was not able to reach the new A/R. I emailed the A/R again to confirm receipt of my offer and she has not contacted me since then. Fay Servicing has been completely unresponsive to me and I feel they are trying to stall in an attempt to avoid dealing with my request. This loan is in jeopardy of going into foreclosure for a second time and this company is letting that happen by not responding to my correspondence.
Company Response: Closed with explanation

Timely Response

2019-02-12

Key Biscayne, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-11

Foster City, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Two times during my loan mod that Fay Servicing LLC and their Trustee Company XXXX XXXX XXXX XXXX XXXX XXXX forclosured my home misleading me, and told me both of times that my required loan documentations had been completed. and waiting for the underwriter to qualified a loan mod for me. Both time without a paper trail, a email, a letter, a text message, that FayXXXXXXXX XXXX XXXX forclosed on me between XXXX, and never sent me any letter stated that i was not qualify for a loan mod. I was scaried and threaten to loss my home, so in XXXX i asked for reinstatement. one time in XX/XX/XXXX that i wired the fund per instruction from Fay of {$200000.00}. Fay acknowledged that wired fund received, that my loan reinstated, but turned around Fay forclosed my home, i contacted Fay repeatedly and demanded to stop the foreclose without any answer. I didn't even have a chance making my monthly loan payment. i was forced file bankruptcy. on XXXX i again asked for reinstatement, and i was told by email wired fund of {$210000.00} to fund on XX/XX/XXXX, again, Manager XXXX XXXX acknowledged fund received, loan reinstated, payment will be {$2000.00} each months. I starting made payments of XXXX, XXXX, XX/XX/XXXX total of {$6200.00}, said fund never credited to my account, never returned. By XX/XX/XXXX after Fay cashed all my funds and suddenly foreclosed on my home, again, without single word for more than 3 month since XX/XX/XXXX-XXXX dead silence, i immediately called Fay and XXXX to stop the foreclosure. They went ahead forclosed on my home, i again, filed bankruptcy, XXXX, XXXX filed dismissal my BK case. and court accused of me filed jaded BK, even i documented every single evidence. to no avail. my case dismissed. Fay then immediately scheudled another foreclosure on XX/XX/XXXX in 14 working days. I am again asked for 3rd reinstatemnet but extreme worried that doesn't matter how do we comply with the law and Fay 's instructions, that it is a scan, that Fay will uses my fund to invest making profits, and misleading, scheme me to believe that my loan will be reinstated once the wired fund received. Fay send me the augumented of {$250000.00} to reinstated my loan by XX/XX/XXXX. I am waiting for my deposited check cleared to cut the check forwarding to Fay before XX/XX/XXXX. Fay eventually refunded my wired fund on XX/XX/XXXX from XX/XX/XXXX Fay Cashed my check more than 3 month even after Fay forclosed on my home on XX/XX/XXXX.
Company Response: Closed with explanation

Timely Response

2019-02-11

Seneca, SC

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: ON XX/XX/XXXX AND ON XX/XX/XXXX I WAS DENIED I APPLIED FOR A MODIFICATION TO SAVE MY HOME DUE UNSTABLE, UNCONTROLLED SITUATIONS IN THE PAST HOSPITALIZED WITH XXXX XXXX XXXX XXXX, LOSS MY BUSINESS, AND nOW THAT IM IN A MORE STABL E SITUATION FINANCIALLY AND CAN AFFORD TO MAKE PAYMENTS BUT CANT AFFORD THE REARS TO BE PAYED IN FULL FOR REINSTATEMENT. I HAVE BEEN DENIED ALL MODIFICATION PROGREMS. I CAN AFFORD TO MAKE REGULAR PAYMENTS, JUST CANT AFFORD TO BRING ACCOUNT CURRENT I NEED THE PAST DUE TO BE PUT IN THE REARS.
Company Response: Closed with explanation

Timely Response

2019-02-09

GA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Fay Servicing started servicing my mortgage in XX/XX/XXXX. Fay service illegally added property tax debt to my mortgage without legal cause. The amount changed my monthly payment from {$1000.00} to {$1300.00}. They wrongly placed my line 3 months late and in fact I was only 25 - 30 days late causing credit rating of late and none payment to race credit risk and low credit score. This company has reported incorrect information too XXXX and other credit company. Please not how there is no request from Fay for new loan, but my mortgage payment per month has changed 4 times since XX/XX/XXXX with this company falsely. Even as late as today, wrong information is reported, they are still reporting my monthly of {$1100.00} which is wrong. My monthly payment has been came for years in the amount of {$1000.00}
Company Response: Closed with explanation

Timely Response

2019-02-08

Norwalk, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: A mortgage servicer along with a CA licensed finance lender in collusion together overcharged us the consumer {$31000.00} they attempted to disguise as default interest deferred, a default that they in essence manufactured by refusing to accept our monthly payments saying theyll only accept the full balance because their one year interest only loan had hit their maturity date. We now know after experiencing it firsthand their scheme is to bill the consumer the disputed amounts calling it default interest deferred which is exactly what happened in our case. And this is despite us paying them the monthly payments plus two extension fees of over {$14000.00}. The scheme involves demanding that a full 6-month extension fee of {$7000.00} be paid before they continue to accept the monthly payment we normally pay. The catch is during this time they bump up the already high interest rate from the agreed-upon 8-1/2 percent and doubled it to accrue at 17 % for months, Plus now they add additional Late fees imposed as a result of the consumer now being considered late on payments. We literally submitted the payment and they refused to draft it as they usually do from the account as they did the prior months, waiting for the delinquency they created to hit the point where they can file a NOD and hopefully take the homeowners property. Anyone can see after what we experienced how this pattern and practice is by design on their part to steal a homeowners property through predatory lending and unfair business practices. Or to transfer the homeowners wealth to themselves. Despite the States strict usury laws this company seems to be claiming they can charge an interest rate of 17 % disguised as default rate even after they eventually after several weeks battling with them to take the payment to avoid the account being considered delinquent they accepted our note payments along with two separate loan extension fees that undeniably brought the account out of any Default there was. Looking over the way it all transpired it becomes clear that this is their business model - to strip away the homeowners equity. They create adefault so they can demand a usurious Default rate interest of 17 %, on top of forcing the homeowner to give them an additional {$7000.00} in extension fees. On the phone with the banks and servicers representatives both assured me when I was making the {$14000.00} payment bringing the account current they were stopping and removing the default charges based on the payment and extension fees. If there was ever Any doubt or thought that I may be making up a story, how can one explain the fact that when we refid, the payoff statement they presented escrow showed {$31000.00} demanded labeled as Default Interest Deferred. And Magically they revised that down to {$20000.00} conveniently after our mortgage broker and escrow raised questions concerning not just the amount, but the validity and legality of the high " default interest '' charges. Anyone would suspect they reduced the amount by {$10000.00} thinking wed be like others they pulled this XXXX on and go-away. And theyve got some nerve when weve already paid them over {$130000.00} in interest ONLY and excessive fees on an 8.5 % loan for just over 18 months foolishly trying to steal another {$20000.00} on top of it! From all Ive garnered its almost certain this can be a handsomely rewarding for an attorney with the foresight and willingness to look into these practices and see how many consumers theyve taken advantage of and caused to lose their home or their equity. Wed much prefer an honest hardworking attorney get paid the almost XXXX XXXX XXXX -- {$20000.00} theyre attempting to steal form us on top of {$130000.00} they got from us in a year and a half we had the loan.
Company Response: Closed with explanation

Timely Response

2019-02-07

Jupiter, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: In XX/XX/2018, we were notified by Fay Servicing that we were denied a loan modification. We spoke with our representative, XXXX XXXX, and he advised us to fill out paperwork to appeal the decision and apply for a modification. We emailed and sent a copy via certified mail on XX/XX/2018 of the appeal and the paperwork. We have not received any information from Fay Servicing since by either mail, email, or phone call. XXXX XXXX said that we would receive a decision within 30 days by mail. We have not received any letter or have had phone calls returned about our modification.
Company Response: Closed with explanation

Timely Response

2019-02-06

KY

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Every 6 months or so, every since loan was sold to XXXX, and serviced by first XXXX ( from XXXX XXXX to XX/XX/XXXX ), and then transferred to Fay Servicing in XX/XX/XXXX until present, we are threatened with foreclosure proceedings and told we have missed several months in payments. After providing proof ( Bank statements ) of the so-called missed payments, the motion for relief of automatic stay ( we were in bankruptcy for the first 3 threats of foreclosure ), the motions are dismissed but attorneys fees are added to our loan balance ( several thousand dollars in attorney fees thus far ). However, this last time ( beginning in XX/XX/XXXX ), we were actually served with foreclosure papers, as we have no attorney, and had our bankruptcy dismissed this past XXXX ( XXXX ), in hopes of at least attempting to save our home. We are once again being told that we have not made a payment since XX/XX/XXXX, despite bank records proving that we have made the payments. Included in the paperwork from Fay Servicing, however, is a breakdown of our payments and how they are being applied. It seems that when a payment ( a full payment, as I have never made a partial payment, and have in fact except for only 2 or 3 times, paid more than our regular monthly payment ), the majority of payment is put in a suspense account, as well as a corporate account?? These payments made on time, are held for months at a time before they are ever applied to a payment. Currently Fay says we only made 4 payments in XXXX, XXXX, XXXX, XXXX, and XXXX ( which is not true ), but the tax statement showing what is reported to the IRS for the XX/XX/2018 year shows a total of {$5800.00} paid in interest, and principal payments of {$1100.00} These amounts are also faulty however, due to the fact that when added together they total the exact amount of what our payments would be for the whole year had we made all 12 reg. monthly payments ( example XXXX x 12 = {$6900.00} ). As I have always paid more than reg. payment ( {$580.00}, or {$600.00} ), these figures are false also. Ironically, the payments Fay Servicing say we have not made and are now in default over, and the reason for this latest foreclosure ( XX/XX/XXXX-XX/XX/XXXX ) show up in their ( Fay Servicing ) accounting ( please see documents attached ) as being paid for the months they were due, but as usual held in suspense until months later. We have tried repeatedly to resolve this issue with Fay Servicing, to no avail. We have also ask repeatedly why our payments are held in suspense and no one can tell us. The last time we spoke with Fay we were told that the problem is not with them but due to the fact that we haven't made our payments, even though their own records show the very payments they say we've missed. I am also attaching a petition that XXXX 's attorneys prepared the last time they did this ( XX/XX/XXXX ) that says we cured our arrearages since the filing of the motion ( XXXX ), a blatant lie, as my bank statement would attest to, and that if they ( XXXX ) found us in default again they would foreclose on our house without even going to court. Of course we did NOT sign this, as this is a company that says we are in default every 6-8 months when we are NOT. I am also including the payment ledger I received from XXXX XXXX ( a former employee of Fay, and our loan manager ( until shortly after him sending this document to me ) at which time he was no longer with the company we were told. In this ledger you can see an alleged payment of over {$3200.00} showing up on XX/XX/XXXX that was applied to the payments they said we had not made. The fact that I did NOT pay this amount at one time, but it somehow miraculously showed up after the account was investigated just prior to the court date, proves these monies were there all along, and just not properly applied. I feel that the dishonestly and faulty servicing practices of this company more than speaks for itself, and to be honest, I do NOT see how a company such as this is allowed to continue such illegal practices. The fact that we can NOT refinance with another bank, due to the dismissed bankruptcy, and our negative credit score thanks to Fay servicing 's practices we are stuck with a company that seems determined to take our home. Please HELP US!!!!
Company Response: Closed with explanation

Timely Response

2019-02-04

IL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Regarding Complaint Number XXXX. Involving XXXX ( XXXX ), Fay Servicing LLC and XXXX. This case was closed but without receiving all documents requested. My initial request was for a complete history of my account with a start date of the year XX/XX/XXXX which is the start date of the loan with XXXX and an end date of XX/XX/XXXX. I received about half of that information. The dates that were sent to me had a start date of XX/XX/XXXX to present. Where is the history of my account from the year XX/XX/XXXX through XX/XX/XXXX? This is very important to a court case I an involved in regarding a mortgage foreclosure. This is information I have requested directly from the parties involved as well as through the CFPB. While the CFPB were helpful in obtaining years XX/XX/XXXX to present, the additional documents for XX/XX/XXXX to XX/XX/XXXX remain to be unavailable. To completely close this case all remaining documents must be submitted.
Company Response: Closed with explanation

Timely Response

2019-01-31

Council, NC

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-01-30

Euclid, OH

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I purchase my single-family home in XXXX for XXXX. It was refinanced in XXXX ( victim of sub-prime lending practices ) loan was serviced by XXXX from XXXX in which qualified and was accepted in the ( HAMP ) program. In XXXX, XXXX XXXX sold mortgage to XXXX XXXX XXXX ( who forgave XXXX ) of the debt through the Mortgage Debt Forgiveness Act .In XXXX XXXX sold my mortgage to Fay Servicing LLC ( who was recently sued by your agency for consumer 's protection violations. ) Fay Services arbitrarily and without notifying me in writing changed the terms of mortgage to an adjustable rate mortgage set to " balloon '' in the next few years with a mature date of XXXX. I have already invested 22 yrs. and with this loan rewrite it's like starting all over again. I'm XXXX years old and XXXX with SSI benefis as my only source of income. Can Fay Services do this? Do I have any other options? Was the HAMP program in force when it was sold by XXXX?
Company Response: Closed with explanation

Timely Response

2019-01-26

FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I had someone working with me to help pay off the outstanding mortgage and company will not respond at all. We have submitted documents to get a reduced mortgage. My mortgage was sold to Faye servicing from XXXX XXXX XXXX and it seems as if they are delaying the process. I think Faye Servicing is being very elusive. All of this happened during the month of XXXX and XXXX.
Company Response: Closed with explanation

Timely Response

2019-01-25

Lawrenceville, GA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-01-22

CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I believe XXXX XXXX with FAY SERVICING violated the requirements for a single point of contact on SECTION 38-38-103.1 During the final stages in the process of LOSS MITIGATION APPLICATION. He would not respond to any emails or phone calls, as I tried desperately to get an update of the COMPLETED LOSS MITIGATION FORMS. Soon after my home was sold at a FORECLOSURE AUCTION SALE. I also believe DUAL TRACKING was used in this process of selling my home while I thought we were working together to stop this auction of my home. *I emailed Loss Mitigation Application to servicer on XX/XX/2018 *I received Acknowledgement of additional documents dated XX/XX/2018 ( return due date of XX/XX/2018 ) [ Additional document requested was home and hazard insurance. ] XXXX XX/XX/2018 I purchased the home insurance they required. I sent the proof of insurance documents via email and fax. *I received Acknowledgement of completed application on XX/XX/2018. *I received Notice of sale. It was signed and dated by the trustee Recorded on XX/XX/2018. *I received denial of assistance letter on XX/XX/2018. *I tried to contact servicer multiple times with no response. *Home was auctioned and sold on XX/XX/2018. The required amount of time from the completed application to the foreclosure sale date is more than 45 days. Completed application was 76 days before auction date. The required amount of time that the servicer should review my loss mitigation application is 30 days, whereas servicer did not answer my emails or calls, then sent a denial letter 55 days later Upon receiving the denial letter I have 30 days or more to respond. They auctioned my house 20 days later with no contact our no chance for me to properly respond by to my denial letter.
Company Response: Closed with explanation

Timely Response

2019-01-20

Tampa, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-01-18

Greenwood, CA

Closing on a mortgage

Mortgage: Home equity loan or line of credit (HELOC)

Complaint: I made the last payment in XXXX then I received a statement that my account was in suspense at that point I called Fay Servicing to ask what that meant. They told me that I owed an additional {$5.00} which had to be wired to them and I was given the address XXXX XXXX Bank the aba number and the account number. I did as instructed waited four days then contacted Fay Servicing to verify that they received the money and what was the next step. I was not able to speak to my loan officer by the name of XXXX XXXX have left several messages for her and have not received and response I have been told that there is still {$73.00} in suspense and no one I have talked to can tell me how to get it payed on my account and my account closed. I have also asked to speak to her XXXX XXXX XXXX and received any call back. I was also told to e mail both of then which I have also done and have no reply. I don't know what more I can do to get my account closed. I now feel like a XXXX to this company. XXXX XXXX
Company Response: Closed with explanation

Timely Response