Fay Servicing, LLC

COMPLAINT REGARDING : Fay Servicing, LLCLOAN TYPE : Business / Commercial LLC Mortgage LoanLOAN NUMBER : [ Your Loan Number ] PROPERTY ADDRESS : [ Your Property Address ] DESCRIPTION OF PREVENTATIVE ESCALATION & ERROR : I am filing this formal complaint to secure a mandatory written resolution regarding a critical accounting and underwriting error committed by my mortgage servicer, Fay Servicing , LLC. Fay Servicing is actively utilizing inaccurate internal data to block my eligibility to execute a refinance transaction on my property.My back-office customer portal clearly confirms that this mortgage loan officially started in XX/XX/year>, establishing my true contractual first payment due date as XX/XX/year>.…

Fay Servicing bought out my loan Right away I requested escrow to be dropped They continued to transfer me back and forth from taxes to insurance division XXXXm At end of my rope

Payment made XXXX to XXXX days before due on the XXXX of each month. Government payments of XXXX XXXX come in and are posted at midnight. Mortgage is paid demonstrates paid XXXX days. Congruent with payment of the XXXX. XXXX to XXXX days later Mortgage attempt to collect their money. Money is now gone as other companies that take including Utilities and Car Payment and Electric are paid now money is passed.

Thank you for providing a more detailed explanation of the evaluation process. I appreciate that this response provides substantially more information than previous correspondence regarding the reasoning behind the loss mitigation review. After reviewing your response, I still have several questions regarding specific points where I am seeking clarification rather than disagreement. 1. XXXX servicing requirements Your response states that repayment plans, deferment, and forbearance options were skipped because of XXXX state law, and then cites an internal servicing job aid. Please identify the specific XXXX statute, regulation, administrative guidance, investor bulletin, or other legal authority that requires this evaluation sequence. If the requirement instead reflects Fays implementation or interpretation of applicable law, please clarify that distinction. 2.…

Good Morning My name is XXXX XXXX, and I am writing on behalf of my husband, XXXX XXXX, and myself regarding our long-standing mortgage. We have lived in our home since XXXX and have consistently prioritized our mortgage payments, even though there were many significant financial hardships, including addictions which I am Proud to say, we have been clean and sober combined almost XXXX years now! Despite these challenges, we have always fulfilled our obligations and avoided bankruptcy. I am reaching out to request assistance with a matter involving our current mortgage servicer, Fay Servicing , LLC ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Our mortgage has been transferred between many different companies over the years, and we are seeking support to resolve ongoing issues with this latest service that we believe is fraudulent and should be looked into further. At XXXX time our mortgage was handled by XXXX.…

I am submitting this complaint to request a higher-level review of my mortgage payment history and my request for a goodwill adjustment. I have been a Fay Servicing customer for over XXXX years and have made every effort to meet my mortgage obligations. I recently contacted Fay Servicing to request a goodwill review of XXXX late payments that are significantly impacting my credit score and my ability to qualify for financing. The first late payment occurred in XX/XX/XXXX. While I understand this payment history was reported accurately, it is nearly XXXX years old and does not reflect my long-term payment history or commitment to my financial obligations. The second late payment occurred in XX/XX/XXXX. At that time, my bank account had to be closed. My mortgage payments were set up on automatic withdrawal, and the required change to my bank account interrupted the automatic payment process. I was unaware that the payment had not been processed until after it became past due.…

Our loan was sold to Fay Servicing LLC on XX/XX/XXXX. We were on a 3 month trial program with our original lender due to a hardship. We paid the original lender for the month of XXXX, then they told us that as of XX/XX/XXXX, payments need to be made to Fay Servicing. We received a " welcome '' packet from Fay on XX/XX/XXXX. We set up our online/app account to keep track of our loan and to make payments. Turns out, we were unable to submit or even schedule a payment via either of those. So we spent 2 weeks trying to call to make the payment for the month of XXXX. We left messages, we emailed, nobody would answer the phone or return our calls. On XX/XX/XXXX, we received an " Intent to Foreclose '' letter. So we continue trying to call and call and call. We left a dozen messages, nobody will call us back. We were assigned a " single point of contact '', but that person still has not called us back, even after we have left several messages on his desk phone.…

Fay told me that foreclosure proceedings had not begun when I submitted my loss-mitigation application. Fay then denied repayment and payment-deferral options because it now claims foreclosure proceedings are in motion, without identifying when or how that occurred. Fay simultaneously denied modification because I allegedly do not meet an unidentified investors undisclosed minimum-delinquency requirement. Fay did not identify the investor, disclose the actual requirement, explain whether my newly reinstated SSDI income was considered, or provide the foreclosure referral date, foreclosure attorney, publication status, or sale date. I have submitted a timely appeal and a separate Notice of Error and Request for Information. I request immediate written confirmation that no sale is scheduled, a foreclosure hold during the applicable review and appeal process, correction of inaccurate servicing information, and a complete independent evaluation using my current verified income.

This is an emergency escalation involving my mortgage being transferred from Fay servicing to XXXX XXXX. As of XX/XX/XXXX. A corrupt file is being transferred to get away from accountability. XXXX needs to freeze automated collections and order a high level executive audit. I am a victim of systemic equity stripping. From XXXX to XXXX during a XXXX XXXX, every post petition payment during that time, was misapplied. That caused a false default. In court documents, they claim payments were not recieved. Yet the history they provided shows they recieve those exact payments this caused serious financial harm. I have sent the required letters and recieved nothing I asked for with the exception of the history. I get vague answers. Document dumps to appear as if they investigated. I still do not have clear answers I have requested. I still do not see the XXXX XXXX months of XXXX on the history they provided.…

This issue has been raised with Fay Servicing continuously since XX/XX/XXXX without resolution. In XX/XX/XXXX, I submitted documentation to XXXX XXXX showing that the XXXXXXXX XXXX XXXXXXXX XXXX XXXX carries an active master policy through XXXX XXXX XXXX ( Policy XXXX ) covering windstorm and hail for the building. Multiple support tickets were opened and closed without response through early XXXX. On XX/XX/XXXX, this was submitted as a specific numbered demand in a formal Notice of Error sent to Fay Servicing via email and certified mail. Fay Servicing 's response to CFPB Complaint No. XXXX did not address this demand. The wind coverage Fay continues to charge duplicates coverage the Association already maintains and has maintained throughout this entire period. Given that this request has been active and documented since XX/XX/XXXX, I am asking the CFPB to require Fay Servicing to respond to this demand expeditiously.…

I am requesting the immediate removal of the late fee assessed on my loan account and am submitting this complaint regarding Fay Servicing 's handling of my loan transfer, online billing/statement discrepancies, and communication efforts. Attached is documentation showing that the bank account I provided for automatic payments does not support ACH debit transactions for my first payment. However, this is the same account Used to successfully electronically withdraw my down payment at closing to my original lender, XXXX XXXX XXXX, XX/XX/XXXX. Im attaching an email from XXXX, where they state they do not notify customers that their ACH payment attempts did not go through. Also, such a rejection would typically generate a XXXX return code ( such as XXXX RDFI Not Authorized or XXXX Non-Transaction Account ) to the receiving entity. But I did not receive a notification from Fay after they received this code either.…

Thank you for the opportunity to respond. The servicers explanation relies on the business purpose language in the loan documents, but that language does not exempt the loan from XXXX prepaymentpenalty statute. MCL 438.31c does not depend on whether a loan is for consumer or business purposes. The statute contains no exemptions for businesspurpose loans, entity borrowers, or loans labeled commercial. The only condition in the statute is the nature of the collateral. If the security is a singlefamily dwelling, the maximum prepayment penalty is 1 percent within the first three years and zero percent after that. The property securing this loan is a singlefamily dwelling. The servicer has not cited any statutory subsection or case law showing that a businesspurpose clause overrides Michigan law. A private contract can not eliminate statutory protections. The servicers response addresses Truth in Lending Act exemptions, but TILA is not the statute at issue.…

We got a letter in XX/XX/XXXX saying our mortgage would be increasing by {$660.00} on XXXX without any really explanation or breakdown. I then proceeded to call and they could not provide me with any data in regards to the increase other than it was an escrow shortage and I struggled to understand them. No one spoke XXXX. They then told me I could pay off my escrow and then separate my escrow but then when called back to do that they told me I had to have a year of positive payments and sense Fay Servicing bought out our original mortgage company we havent been with then a year until XXXX. However all of this was conflicting information. No one has ever given me the same information. Ive called XXXX, all the way through today XX/XX/XXXX. I still havent made movement.

I fell behind on my mortgage payments since XXXX, due to extraordinary and temporary hardships beyond my control. First, I experienced the passing of my father, which caused significant emotional and financial hardship. Shortly thereafter, I was involved in an accident that prevented me from working for approximately XXXX months. As a result of these events, I became delinquent on my mortgage. Once I was able to return to work, XX/XX/XXXX, I immediately began attempting to resolve the delinquency in good faith. I contacted Fay Servicing numerous times, provided all requested financial documentation, and worked directly with my assigned Single Point of Contact, XXXX XXXX.…

I am filing an emergency complaint against Fay Servicing regarding my active Trial Period Plan ( TPP ) loan modification for Loan Number XXXX My second trail modification payment was schedule on XX/XX/XXXX. Fay Servicing failed to pull the funds on the due date. Instead, they initiated a delay " Retry '' draft days later, which resulted in a Non-Sufficient Funds ( NSF ) return from my bank due to the processing timeline. The moment I saw the bank rejection, I immediately called Fay Servicing to fix it. I explicitly told them I have the funds available. I requested to make an immediate payment and asked if a payment could be drafted again. I also asked if I could XXXX XXXX the funds. Fay Servicing agent flat out refused to accept my either one of transactions. They stated that because the calendar has turned to a new month, their system locks them out from running or applying a payment for the previous month 's trail cycle.…

FAY SERVICING IS ENGAGING IN PREDATORY, UNLAWFUL AND DECEPTIVE BILLING PRACTICES REGARDING MY MORTGAGE ACCOUNT. THE SERVICER IS DEMANDING A UNCONSCIONABLE 42.45 % TOTAL INTEREST RATE BY TACKING ON A 35 % DEFAULT RATE ONTO MY 7.45 % BASE INTEREST RATE. FURTHERMORE, THEY ARE DEMANDING A PREPAYMENT PENALTY ON A LOAN THAT THEY HAVE ALREADY ACCELERATED WHILE SIMULTANEOUSLY STACKING REDUNDANT POST ACCELERATION LATE FEES ONTO MY BALANCE. FAY SERVICING IS ATTEMPTING TO COLLECT A 35 % '' DEFAULT INTEREST RATE '' PENALTY ON TOP OF MY 7.45 % BASE RATE TOTALING 42.45 % .THIS EXTREME PENALTY FAR EXCEEDS INDUSTRY STANDARD GUIDELINES AND OPERATES AS AN ILLEGAL, PUNITIVE PENALTY RATHER THAN A REASONABLE ESTIMATION OF ACTUAL LIQUIDATED DAMAGES. FAY SERVICING HAS FORMALLY INVOKED THE ACCELARATION CLAUSE ON MY LOAN. DESPITE TERMINATING THE CONTRACT ( VIA ACCELERATION ) THEY ARE DEMANDING A PREPAYMENT PENALTY.…

We closed on our home late in XXXX after confirming with Fay Servicing, XXXX XXXX, XXXX XXXX and all other interested parties we had additional debt sent to the title company aftwr closing, not included in original closing documents and after title requested payoff 4 times. After the home closed and was recorded with the county, title received a letter with a payoff amount demanding it be paid. We have title insurance and XXXX title is refusing to pay using title insurance and errors and omissions insurance, as they were aware of this possible lein 12 days before closing. I have mailed a certified letter to credit bureaus, CFPB, mortgage company, title company, attorney generals office, office of insurance inspector and department of financial institutions demanding this be resolved immediately and Fay Servocong and XXXX XXXX be investigated.

I've inherited the house and I'm trying to take over the loan and make the payment to bring the loan current.i sent them everything and the XXXX contacted them they said they hadn't received anything. I tried having them send me list of all documents needed. No response from fay servicing. They know I'm the successor in interest sense I filed bankruptcy to stop the foreclosure almost 3 years ago and I was sending them payments I was injured in a accident last XXXX at XXXX XXXX when a cart let XXXX and a stack of lumber fell on me I wasn't able to work the bankruptcy was dismissed. I've secured the money to pay and bring the loan current. But they are not responding.

Our mortgage is on our rental property not our primary residence. Our mortgage company XXXX Fay Servicing XXXX sent a notification that they needed insurance documentation on the rental unit ( even though they already had it ), and sent this request to our old primary address. even though we communicated with them via their portal and over the phone of our new primary address. Thus, the request for the insurance documentation went unanswered because we did not see it. Miraculously, they ( Fay Mortgage ) sent us the notification to our new address stating that they are issued a $ XXXX insurance policy, and our mortgage payment was going up 454 % from {$1200.00} to {$7100.00}. We contacted them right away when we received this notice. we sent in proof of insurance right away to thwart this injustice by them. We followed up 4 different times within the 30-days that they said we had to rectify this situation.…

In XX/XX/year>, I obtained a mortgage loan that is secured by a single family residential property. In XX/XX/year>, I requested a payoff so the property could be sold. The servicer, Fay Servicing, added a XXXX percent prepayment penalty to the payoff amount. XXXX XXXX XXXX XXXX XXXX ) limits prepayment penalties on loans secured by a single family dwelling to XXXX percent within the first XXXX years and XXXX percent after that. The statute does not contain any exemptions for business purpose loans, commercial labels, or entity borrowers. The only condition in the statute is the nature of the collateral, which in this case is a single family dwelling. I contacted Fay Servicing and disputed the penalty. I asked them to either correct the payoff or issue a conditional payoff so the closing could proceed. Fay Servicing refused to adjust the payoff and stated that the statute does not apply because the loan is labeled commercial.…

Our loan was sold from XXXX XXXX to Fay servicing, and they have terrible customer service and communication methods. They have no email address to document our conversations. We have tried to work with them to catch up but they don't give us options. They also have a record of complaints regarding foreclosure proceedings, and we are worried about losing our home. We have an FHA loan.

Date : XX/XX/XXXX RE : Formal Complaint Regarding Unauthorized ACH Cancellation and Improper Late Fee Loan # XXXX To Whom It May Concern : I am writing to file a formal complaint regarding the servicing of my mortgage loan by Fay Servicing LLC and to request the immediate removal of an improperly assessed late fee on my account. Loan Number : XXXX Property Address : XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX My mortgage loan originated with XXXX XXXX and has since been transferred multiple times, first to XXXX XXXX and then to Fay Servicing LLC. From the inception of this loan, automatic ACH drafting was not merely an option it was a requirement of the loan arrangement, and I completed all required ACH authorization forms to ensure my payments would be drafted timely and without interruption. My closing package also specifically stated that ACH auto-draft enrollment was required as part of the loan servicing setup.…

I am filing a complaint regarding Fay Servicings handling of my mortgage escrow account and default status. Over the past two years, Fay Servicing substantially increased my monthly escrow payments, including collecting approximately {$500.00} extra per month for alleged escrow shortages. Despite these increased collections, the company is now claiming another large escrow shortage and has issued a Notice of Default demanding {$4600.00}. I dispute the accuracy of the escrow accounting and believe the escrow funds collected may not have been properly credited or applied. I requested an escrow waiver and communicated my concerns regarding the escrow calculations. I continued making my regular monthly mortgage payments during this dispute. However, Fay Servicing appears to have placed payments into an unapplied or suspense account and treated the loan as delinquent.…

I have XXXX loans that were transferred to Fay Servicing on XX/XX/scrub> 2026. I had automatic payments set up with the previous servicer. I sold my personal property and relocated to another property in at the end of XX/XX/year>2026, so I did not receive the forwarded mail from Fay Servicing until after the first payment was due at my new address. By the time, the letters were received the payments were XX/XX/XXXXdays past due. I immediately called Fay Servicing explaining the situation and they refuse to refund the almost {$600.00} of late fees! In addition, they are not following the statute when charging late fees. Here 's what I wrote to them : I am writing in regard to the 10 % late fee that was assessed to my account. In Florida, lenders are not allowed to charge more than a 5 % late fee according to Florida XXXX XXXX. Section XXXX specifically states that 5 % is the maximum amount that can be charged in Florida.…

I am submitting this complaint regarding late fees assessed by Fay Servicing related to my mortgage loan payment. At the time the payment issue occurred, sufficient funds were available in my bank account to cover the payment. However, my bank placed a temporary fraud/security hold that interfered with the automatic processing of the payment. This was not due to insufficient funds or an intentional failure to pay. After learning of the issue, I acted promptly to resolve it and communicated with both my bank and Fay Servicing. I also provided explanation and supporting information regarding the temporary banking restriction. Despite these circumstances, Fay Servicing assessed and maintained late fees instead of reasonably working toward a fair resolution.…

Fay servicing violated every law there was to violate back in 2016. They stole my house and sold it. The bank wouldnt accept a payment and it had been XXXX years and Fay came in and forged the documents and our signatures and stole the house and sold it. They took the over {$250000.00} of equity I had in my house and pushed us out and I have been homeless since. They left my kids and I penniless. It would have been XXXX thing if they did it and it was legit but nothing was true and honest. They falsified documents. They didnt even have the right interest amount. I just want what is owned to me. I want the equity. They lied and said they would modify it. It was against the law to even try to collect on this debt as it has been so long since they would accept a payment. Technically the house was mine free and clear. I dont know then what I know now and I wish I had. I want what is owed to me and my family. They put us on the street.…

I am filing a formal complaint against my mortgage services for explicit violations of the Equal Credit Opportunity Act ( ECOA ) regulation X ( XXXX XXXX XXXX ) regarding a loan modification evaluation and subsequent appeal. My primary source of legal income consists of {$990.00} per month in Social Security XXXX ( XXXX ). This is non-taxable public assistance protected under federal fair lending laws. I applied for a loan modification and was initially denied. I submitted a timely appeal explicitly citing fair income laws for XXXX recipients and challenging the servicer 's income calculations. On XX/XX/XXXX, the servicer issued a decision on my appeal. I never received the written decision in the mail and only discovered it by calling the servicer. When the customer service agent emailed a copy of the letter to me, it simply stated the " must respectfully uphold the original decision.…

On Friday, XX/XX/XXXX, we sold our rental property and the wire transfer was sent to Fay Servicing. On XX/XX/XXXX, Fay Servicing also debited a mortgage payment from my account. We received confirmation of payoff Monday, XX/XX/XXXX, at XXXX CST. Monday afternoon, at XXXX PST, I called Fay Servicing for verification of payoff, and also because I was locked out of my online account. After being placed on hold approximately XXXX minutes, the woman on the phone hung up on me, after I asked for her supervisor to call me since this woman was so rude. I asked for her name, and she hung up on me. Tuesday, XX/XX/XXXX, I attempted to log in to the Fay account and still could not gain access. Today, Wednesday, XX/XX/XXXX, I called Fay again and was hung up on again. TWICE, all because legally on the deed, our property is XXXX XXXX XXXX, NOT XXXX XXXX XXXX XXXX. There is XXXX XXXX XXXX XXXX, etc, after XXXX on the deed- I did not choose this, this is how the property was when I bought it.…

I currently came across several issues with a company Fay Servicing and it sounded similar to a situation my father went through so I researched on my end and this is what I found. I am unsure what my next steps are but I am hoping this complaint can help guide Fay Servicing to do the right thing. My father, XXXX XXXX ( deceased XX/XX/XXXX ) owned a property located at XXXX XXXXXXXX XXXX XXXX XXXXXXXX, IL XXXX. He foreclosed on the property in XX/XX/XXXX. The judgement total was {$120000.00} and they resold the property in XX/XX/XXXX for {$140000.00}. That leaves an overpayment of {$17000.00} that was never offered to my father which to my understanding is illegal! I looked up the statute of limitations in Illinois and could not find any so I do not think the time has expired. My father has 2 heirs, my sister XXXX XXXX and myself so I know legally we would be entitled to these funds.…

I work with Fay Servicing and I call every 2 weeks to pay my mortgage and explicitly notate how the payment is for the following month and how it needs to be applied ONLY to that next month 's payment and like clockwork, I get a call late in the month that they haven't received my payment and have charged me a late fee. Whether it be by their system not switching everything or them not meeting my note on the account. They continuously use the complimentary waivers of late fees without my permission or acknowledgement, you can NEVER reach a manager and the only way to meet their biweekly payment processor is to be able to pay two months up front and there is still no guarantee that they will adequately mark the payment because they don't communicate with the customer and/or the internal system. I am unable to refinance my home at this time and can not stand this company and can not imagine letting them have the direct connection to my bank account anymore.…