|
8673486
|
2024-04-01
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Escrow, taxes, or insurance
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-04-01
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-04-01
|
| Complaint What Happened |
Sold my property 32 days ago. The mortgager would not release, nor communicate about escrow funds that it was holding to repair the property. After it was 100 % complete and verified by mortgager to be comlplete, mortgager still would not relese funds so I was forced to sell the property to be able to pay the contractors. 32 days later after the pay off, company still has not refunded the escrow balance nor the restricted escrow balance. When I call I get a run around saying it was another departments issue, then the other department claims it was the original departments issue.
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| Consumer Consent Provided |
Consent provided
|
|
|
8385103
|
2024-02-20
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Fees charged
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-02-20
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-02-20
|
| Complaint What Happened |
I initiated the process to recast my loan with Fay Servicing in XXXX, 2023. Fay charges a {$250.00} fee for recast. I paid the {$250.00} from my checking account which was successfully processed on XXXX2023 ( see attached image from my checking account ). Fay acknowledged receipt of the {$250.00} on XXXX/2023 ( see attached screen shot from Fay ). But now Fay is showing I owe {$250.00} in fees which are for this recast fee that was already paid.
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| Consumer Consent Provided |
Consent provided
|
|
|
8159268
|
2024-01-17
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Trying to communicate with the company to fix an issue while managing or servicing your loan
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-01-17
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-01-17
|
| Complaint What Happened |
In XX/XX/XXXX, I purchased a home through XXXX XXXX for {>= $1,000,000}. I put 20 % down, establishing an original loan balance of {$920000.00}. After making the first couple of payments to XXXX XXXX on time, the loan was transferred to Fay Servicing. That is when the nightmare begins.
Fay Servicing is either completely incompetent or is intentionally malicious in their business practices.
This company has a proven record of incompetence. The CFPB has levied significant fines against them. The Attorney General for the State of Massachusetts has held them financially accountable. And more and more individual consumers are beginning to take legal action against them. And yet the continue to operate in this market ....
Today, I received a letter in the mail from Fay Servicing telling me that my mortgage is behind and that I face foreclosure. I have paid off 78 % of my {>= $1,000,000} loan in the first 8 months since loan origination. I have not missed a single payment. And because of Fays complete incompetence, I have to deal with the new stress of them threatening to foreclose on my home. I will seek a legal solution if this CFPB option does not meet resolve every single one of my complaints. This company must be held accountable.
The following facts apply to my case : - I was not properly notified of the transfer and where to make my payments, so my first payment to Fay Servicing was late, but within the established grace period when a loan is transferred.
- I made every payment for the remainder of XXXX on time and included extra within the payment to be applied to the principles for the payments up through XX/XX/XXXX. Fay properly recorded these payments, to include the payment made for XX/XX/XXXX.
- I made an additional significant payment towards principle on XX/XX/XXXX for {$560000.00}.
- In XXXX, I paid Fay servicing a fee of {$250.00} for a request to have my loan recast to account for the significantly lower principle and a new amortization and payment schedule.
- In XX/XX/XXXX, I received approval on the recast, completed the required paperwork, and returned it to Fay Servicing- I made the basic payment for XX/XX/XXXX for {$6200.00} per the original terms as the loan had not yet been recast - I made every payment on time and prior to the XXXX of each month using the Fay Servicing website for electronic payments- As of XX/XX/XXXX, the outstanding balance on my loan, per the attached Mortgage Statement, was {$330000.00} - The Fay website is currently showing the loan delinquent from XX/XX/XXXX, even though they have accepted and processed payments for XXXX, XXXX, and XX/XX/XXXX- I logged into the Fay system to make my XX/XX/XXXX payment, but the system was not accepting online payments see the attached artifact - In early XX/XX/XXXX, I called in several times to discuss this error and the fact that my balance had grown from {>= $1,000,000} to now be {$340000.00}. They had apparently taken my last 3 payments and unapplied them, even though they were paid on time and cleared my checking account each month.
- As I clearly didnt trust Fay Servicing or have any faith in their competence, I made my XX/XX/XXXX payment, for the amount they revaluated per the recast of {$2400.00} plus additional principle for a total payment of {$6000.00}. I made this payment over the phone to a CSR rep named XXXX on XX/XX/XXXX and was provided a confirmation number of # XXXX. The payment still has not been withdrawn from my account I am convinced this is Fays attempt to try to state I was late on a payment, but I also video-taped my call with the representative, so I have evidence to support the payment was made on time.
- For some reason, Fay has taken my payments from XXXX of last year and reversed them. They are holding them in what they are classifying as a suspense balance of {$27000.00}, and per their website, these funds are not used to credit principle or interest- And then today in the mail I received notification from Fay that my mortgage is behind. The letter, included with this complaint, is threatening and completely unfounded.
- ************* - As if the above documentation isnt proof enough of Fay Servicings incompetency, they have also failed to pay my escrowed property taxes by the due date. The due date for taxes in my county is XXXX XXXX Fay sent payment on XXXX XXXX, causing me to realize late payments and penalties.
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| Consumer Consent Provided |
Consent provided
|
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9445119
|
2024-07-07
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Trying to communicate with the company to fix an issue while managing or servicing your loan
|
| Sub Product |
Other type of mortgage
|
| Date Received |
2024-07-07
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-07-07
|
| Complaint What Happened |
This loan is being serviced by Fay Servicing , LLC. This all started over a year ago when my father passed away, he and my mother are signed/guarantors of a loan on properties through an LLC. My mother and I are identified as managing partners of the LLC that owns the properties all legally identifiable through Idaho Secretary of State. I have called Fay servicing since his passing to get the account organized for me to access and manage, I always get a different customer service representative who will give me a line about my father who has passed must call to give them authorization to allow me access. They then give me an email thats never the same to send legal documents from our family attorney that shows all legal access for myself to manage. I then call back several weeks as they say this will be handled. Once I call a different representative will say nothing has came through to a customer service email or that email wasnt real and to try another. This process has gone on for XXXX months now with still no access to our account. I am needing access due to Fay servicing pulling almost {$44000.00} per year over the necessary amount to service the escrow account. This is an alarming situation that needs resolving.
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| Consumer Consent Provided |
Consent provided
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8401530
|
2024-02-22
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Escrow, taxes, or insurance
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-02-22
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-02-22
|
| Complaint What Happened |
House Fire. The insurance company has done everything they can to delay releasing funds for the repair so i paid everything out of pocket. Throughout the process the released little dribbles of money here and there but it has been complete now for 6 weeks and they wont release the remaining funds. Their own inspectors have confirmed completion. I need my money back as I borrowed it to get contractors paid, it is accruing interest. The mortgage company is doing everything and anything they can to come up with excuses to delay releasing remaining funds.Any info they have requested they received with hours, then weeks later they call back and come up with something else.
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| Consumer Consent Provided |
Consent provided
|
|
|
8616216
|
2024-03-25
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Trying to communicate with the company to fix an issue while managing or servicing your loan
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-03-25
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-03-25
|
| Complaint What Happened |
Fay Servicing 's XXXX customer service number is not listed on their customer service portal. There is a way to message them using their own messaging service, but no email address listed or no phone number.
If you XXXX " Fay Servicing Customer Service Number '', you can find their number on their website ( not their customer service portal where customers actually manage their loan ). Upon calling their number, an automated voice tells me the figures of my loan. No option to speak to a real person.
This seems to be a pretty common loan servicing practice. Just giving customers the XXXX when they attempt to get an actual human on the phone.
It's pretty obvious none of these companies want to talk to the mortgage holders.
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| Consumer Consent Provided |
Consent provided
|
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3257222
|
2019-05-29
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Older American
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2019-05-29
|
| Submitted Via |
Phone
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2019-05-29
|
| Consumer Consent Provided |
N/A
|
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