Complaints

This profile includes complaints for Fay Servicing LLC's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  Fay Servicing LLC

  5426 Bay Center Drive, Suite 300 Tampa, FL 33609

• 

  Fay Servicing, LLC

  1501 E Woodfield Rd STE 100W Schaumburg, IL 60173-5447

• 

  Fay Servicing LLC

  8001 Woodland Center Blvd STE 100 Tampa, FL 33614-2438

• 

  Fay Servicing, LLC

  440 S La Salle St STE 2000 Chicago, IL 60605-5011

• 

  Fay Servicing

  901 S. 2nd Street, Suite 201 Springfield, IL 62704

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:05/27/2025

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Charged a late fee for a mortgage payment that I mailed out on the 1st of the month, like every month. Charged a $64.31 fee, Contacted the company and they refused to reverse the charge. There is no way it took 21 days to get the payment from the ****! I posted the payment from the post office! They subsequently hung up on me on their customer service line.

  Business Response

  Date: 06/02/2025

  Please see the attached response.

  Customer Answer

  Date: 06/04/2025

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  **** *****

• Initial Complaint

  Date:05/27/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  After I paid off the loan in full on April 30, 2025, I reached out to both Easy Street Capital and Fay Servicing. Easy Street informed me that they had sold the loan and told me to contact Fay Servicing. Fay Servicing, in turn, claimed they were waiting for information or action from the original lender. Neither company has taken ownership of the issue, and they continue to redirect responsibility to each other.This has caused unacceptable delays in closing my escrow. As a borrower who has already paid off the loan, I am caught in the middle without a clear resolution. I am concerned that their lack of accountability and coordination will cause my real estate transaction to fail and lead to financial harm.

  Business Response

  Date: 06/02/2025

  June 2, 2025
  
  Hanzhi Zhang
  Sent via BBB Portal
  
  RE:                          Account Number:                            0050040110
                                  Property Address:                           ******************************************************************
                                  BBB Complaint Number:               23373577
  
  Dear Hanzhi ******
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on May 27, 2025, regarding the above-referenced business purpose loan.
  
  Please note that based on our records, you are not an authorized party on the referenced loan account. As such, we are unable to provide specific account details or documentation directly to you. However, we are committed to addressing your concerns in full and we have provided a detailed response resolution update directly to the primary borrower(s) of records, ************ and ******** ***,at the mailing address on file.
  
  Should the primary borrower wish to authorize you to receive information or discuss the account on their behalf, we will require a signed Third-Party Authorization Form, and we have enclosed our blank form for reference. Please provide the authorization so we can add it to the account and communicate with you.
  
  Fay Servicing,LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M.,Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (1)

  Customer Answer

  Date: 06/02/2025

   
  Complaint: 23373577
  
  I am rejecting this response because:

  I am rejecting Fay Servicings response because the company has not provided any substantive resolution to the issue. The lien has still not been released, despite full loan payoff, and no reconveyance has been recorded.
  ******** ***, the borrower of record, will be submitting a formal complaint directly.
  This delay is causing serious harm to our real estate transaction. The property is scheduled to close escrow on June 11, 2025, and the title company requires the lien to be cleared by June 6. If *** continues to delay, it will directly cause financial damages and possible collapse of the sale.
  
  Sincerely,
  
  Hanzhi Zhang

  Business Response

  Date: 06/13/2025

  June 13, 2025
  
  ************
  ******** *** & Hanzhi Zhang
  Sent via BBB Portal
  
  RE:                          Account Number:                            0050040110
                                  Property Address:                           ******************************************************************
                                  BBB Complaint Number:               ******** &23373577
  
  Dear ******** *** & Hanzhi ******
  
  Fay Servicing,LLC (***) has received and reviewed the complaints that you submitted to the Better Business Bureau (BBB) portal on June 3, 2025, and June 4, 2025,regarding your above-referenced business purpose loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that you paid off the loan on April 30, 2025; however, the lien was not released in a timely manner. You state that this delay risked the failure of an active escrow transaction and caused additional financial burden. You state that multiple attempts to resolve the issue were met with conflicting responses from *** and the prior lender.
  
  Thank you for your follow-up. As of June 4, 2025, the lien release associated with the subject loan has been executed and successfully recorded with the county.This resolves the outstanding title issue. We regret the delay and sincerely apologize for any inconvenience caused. A copy of the recorded lien release is available for reference.
  
  If you have any questions, please contact ***************** at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (1)

• Initial Complaint

  Date:05/12/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Over $2,000. My payments aren't being taken out, stating I have insufficient funds when I do not, letter sating foreclosures.

  Business Response

  Date: 05/13/2025

  Please see the attached response.

• Initial Complaint

  Date:04/25/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have had Fay servicing for yours making payments and my payments including insurance was paid monthly. We loss our house on July 4 2023 it was a total loss due to a house fire. They refuse to honor a loss of structure which my way insured by Fay servicing they was unapologetic to the fact that the own was loss due to house fire. I called and sent in photos and fire report. They havent responded appropriately to settle the amount left. Yet they question me about other issues that have nothing to do with Fay servicing and the company my family took a major loss and was homeless for months without them honoring the insurance to pay the debt off. I spoke with several people representing company was told managing person was in a meeting will call back and months went by without a call. I never wanted to receive money I wanted the debt to be cleared because they took insurance money out of monthly payment but yet they fail to mention taking care of debt from my insurance paid years through company. I feel they are bullying me and shows no concern or compassion towards my family. Our home continued to burn for days after the fire they showed no remorse.

  Business Response

  Date: 04/30/2025

  April 30, 2025
  
  Katony *****
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000308658
                                  Property Address:                           ********************************************
                                  BBB Complaint Number:               23247544
  
  Dear Katony *****:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 25, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  
  In your complaint, you state that the property was lost in total due to a house fire which occurred on July 4, 2023. You state that *** refused to honor the loss of the structure and has not responded appropriately to settle the claim. You request the debt to be cleared and not settled, as you mention that the property was covered through insurance purchased by ***.
  
  We appreciate the opportunity to respond to the concerns raised and would like to first express our sincere sympathy for the devastating loss of your home and the impact it has had on your family. We understand this has been an incredibly difficult time, and we remain committed to treating you with compassion and transparency.
  
  *** began servicing your loan on December 1, 2021. Throughout our involvement in the servicing of the mortgage loan, your monthly mortgage payments have included escrow for taxes and insurance. In July 2023, we disbursed $2,907.72 in escrow funds to pay the premium for the homeowner's insurance policy you secured through ******************* On that same day, we notified the insurer that the policy needed to reflect Fay Servicing as the mortgagee/lender loss payee. Unfortunately, we did not receive confirmation that this update was made.
  
  You reported the total loss of the property due to the fire on July 25, 2023, and informed us you had filed a claim with ******************* You further expressed your intentions to us of utilizing the insurance claim funds to pay off the loan. We issued a payoff quote accordingly. However, to date, we have not received any insurance claim proceeds nor confirmation that funds were remitted for payoff.
  
  It's important to clarify that although the property was previously covered by a lender-placed insurance policy, this policy was canceled effective June 6, 2023, following your decision to obtain private insurance. A refund of $815 was issued and properly credited to the escrow account. Because this policy was no longer active at the time of the loss, a claim under the lender-placed coverage could not be honored.
  
  From the time the loss was reported, our records show the assigned Account Manager remained in consistent communication with you. We received partial documentation but have not received the required contractor's proposal or endorsed insurance check(s) to proceed with any disbursements for repairs. In February 2024, we confirmed with the insurance adjuster that the claim funds were issued directly to you. We most recently sent a letter dated March 28, 2024, outlining the remaining items needed.
  
  We acknowledge your frustration and regret any perception that we were unresponsive. We made repeated efforts to provide guidance and support through the process. However, as the loan remains unpaid since May 1, 2023, and the insurance claim funds were not remitted to us, we are unable to write off the debt. The loan was referred to foreclosure on January 7, 2025, with a scheduled sale date of May 2, 2025.
  
  We remain open to working with you on a resolution if you are willing to provide the necessary documentation or proceeds from your insurance claim. We deeply empathize with your loss and assure you that our goal has always been to assist you within the guidelines of the mortgage agreement and applicable insurance requirements.
  
  As a courtesy, we have enclosed the following documents concerning the specific concerns raised in your complaint:
  
  *** Insurance Disbursement History
  Letter requesting to amend Mortgagee/Lender Loss Payee Clause
  Payoff ************************************ Cancellation
  Letters regarding Missing Documents for Loss Draft Claim (3)
  Letters sent as standard follow-up to Loss Draft Claim (5)
  
  
  Fay Servicing,LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M.,Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (12)

  Customer Answer

  Date: 04/30/2025

   
  Complaint: 23247544
  
  I am rejecting this response because: My wife and I was in the process of getting our house payments lowered. During the process we was told that we had to get separate insurance because our insurance with Fay Servicing only covered structural damage. In order to get a home modification we had to get our own insurance. I have been disabled since 2017 and my wife have been doing this alone with one income trying to get help. My wife and I proceeded with the paperwork to get the home modification my wife got Homesite with progressive and paid the premium herself and did not add Fay servicing she made on month payments and didnt include it in the mortgage payment since I was already trying to get a modification and didnt want payments higher. No Fay servicing didnt suppose to receive a check from ******** when my wife purchased it privately and not with Fay Servicing. Our home was later loss due to fire this was a tragedy for me and my family. As we loss everything we own some things we can never get back. Our home was destroyed on July 4, 2023. As we were preparing to try to piece our life together calling Fay Servicing was the least of our worries at the time. Our check was disbursed to my wife and I as my wife was the one working these years with no help. My wife contacted Fay Servicing numerous times to get no resolution from them. I was never notified in writing that Fay Servicing was canceling the insurance for ******************** it wasnt 30 days this is horrible they treated my wife as she meant nothing when we only wanted the loan closed out. We sent all paperwork even the fire report and pictures all for them asking why the insurance check wasnt sent to them. The premium was paid by my wife and wasnt added to Fay Servicing. My home was then listed on the internet for Auction when I wasnt notified by Fay Servicing of this matter its 2025 and this happened in 2023 I feel like nothing else matters to Fay servicing as they keep saying where did the money go that was paid to my wife and I. Fay servicing did not pay not one premium to Homesite or pay not one month payment. I never received anything stating my fay servicing mortgage insurance was canceled at all. 
  
  Sincerely,
  
  Katony *****

  Business Response

  Date: 05/09/2025

  May 9, 2025
  
  Katony *****
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000308658
                                  Property Address:                           ********************************************
                                  BBB Complaint Number:               23247544
  
  Dear Katony *****:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on May 1, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  
  In your complaint, you state that you are rejecting our response because you and your wife, ***** *****, were in the process of getting the house payments lowered, and during the loan modification process, you were told that you had to get your own insurance because the lender-placed insurance only covered structural damage.
  
  We appreciate the opportunity to respond further and acknowledge the devastating loss you and your family suffered following the house fire on July 4, 2023. We want to extend our sincere sympathy for what has undoubtedly been an incredibly painful and stressful experience.
  
  After review of the mortgage agreement, when evidence of a standard homeowners insurance policy is not received, lender-placed insurance coverage is maintained on the property to ensure continued protection. In that regard, we issued back-to-back lender-placed insurance policies in 2022, most recently during December 2022,as we never received evidence of insurance as requested. You shared that during the loan modification process in 2023, you and your wife were advised to obtain your own insurance, as the lender-placed insurance policy in force at the time,only covered structural damage and did not satisfy eligibility criteria for certain loss mitigation options. We can confirm that during the loss mitigation review initiated in May 2023, we requested proof of your insurance via letter,along with other documentation, to complete your loss mitigation application. While some documents were submitted during this period, the insurance declaration page was not received at that time.
  
  In July 2023,we received a policy issued through ****************** under policy number ********. You shared that your wife privately obtained the policy and paid the premium herself, without intending for us to pay it or be added as mortgagee/lender loss payee. However, from the time that we began servicing your loan during December 2021, your monthly payments included escrow obligations for taxes and insurance. Unless and until we confirmed we were no longer paying for the escrow items such as taxes and/or insurance and that you were responsible to pay the escrow items separately from the mortgage payment,we were responsible for issuing any applicable escrow payments during that period.
  
  We disbursed the premium payment of $2,907.72 from escrow on July 17, 2023. We sent a notice to the insurer at the time, requesting that the loss payee clause be updated, but never received confirmation that it was.
  
  When the loss was initially reported during July 2023, we understood your intention was to utilize the insurance claim funds to pay off the loan. However, we discovered based on information received and further discussions held that the claim payment for the property loss was issued directly to you and your intention was to utilize the funds to recover from the loss and potentially secure new housing. While we understand and empathize with the difficult decisions made during that time, we never received any of the insurance proceeds for application to the mortgage balance and/or the required supporting loss draft documentation.
  
  We mailed the notice dated August 21, 2023, advising that the lender-placed insurance policy had been canceled effective June 6, 2023, based on evidence of alternative coverage. This letter was sent to the address of record. We understand your concern that you do not recall receiving the cancellation notice, and that your wife never received a resolution after contacting us on multiple instances and sending in documentation regarding the property loss. We are currently fulfilling a request for all call records to further evaluate communications and responsiveness related to both the insurance and loss draft processes.
  
  We also understand your frustration surrounding the foreclosure process. As of the date of this letter, your loan remains past due since the May 1, 2023, payment. The attached certified notices (2) were mailed on March 31, 2025, advising of the foreclosure sale scheduled for
  May 2, 2025,in accordance with state and investor guidelines. However, the foreclosure sale date has been rescheduled to June 26, 2025.
  
  We truly regret the distress this situation has caused you and your family. We remain open to reviewing any remaining documentation or insurance funds that may still be applied toward the loan balance or to support potential alternatives. Our goal has never been to be unsympathetic but to ensure compliance with servicing requirements, investor guidelines, and the mortgage agreement.
  
  Should you or your wife have further questions or wish to resume discussion about any potential resolution, we encourage you to reach out to your Account Manager. We are committed to offering whatever assistance may still be available at this stage.
  
  
  If you have any questions, please contact your Account Manager, ******** ********, at *************. Additionally, Fay Servicing, LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  Enclosures (2)

  Customer Answer

  Date: 05/12/2025

   
  Complaint: 23247544
  
  I am rejecting this response because: You stated you sent premium of ******** to insurer. To whom are you referring to far as sending above amount to? If you sent that to Home site why? When you wasnt listed. We never received a paper for providing a loss clause thats a false statement. Documents was also sent alone with fire report and pictures. Never received a paper that my insurance was canceled on June 6 but dated August 21 2023 thats another false statement. Im not trying to gain sympathy or anything from this. I called the office to obtain the amount owed on my home after the loss. My intention was to find best option for my family. Though we couldnt afford to do so our option was to purchase another home. Our home was unrepairable and was completely destroyed . We have paid property tax every year on our address. I will provide an attorney if I have to get this matter resolved it seems we are going back and forth with no resolution. Again I have been only told this way about a foreclosure I have not received any written notice. My wife was listed as person to contact but wife call several times and spoke with someone several times then was told she was not over account they couldnt speak to her. My wife contact information is ************ ***** ***** though we are looking for the best possible solution to this matter. I am disabled and currently for 7 years fight to get disability after I crushed hand at work she the only person working and make all decisions. 
  
  Sincerely,
  
  Katony *****

• Initial Complaint

  Date:04/25/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Fay Servicing (a company well-known to the **** for their repeated violations) provided me an incorrect 1098 statement for 2024. The amount on the 1098 form under reports the interest I paid on the loan by thousands of dollars. The fact it is incorrect is obvious as the amount of interest reported as paid *** on my Dec 2024 statement clearly shows the correct interest amount. I contacted *** in early April via phone to get an updated statement, but they have failed to provide the corrected form. This will result in me having to file an amended tax return to the US Government once *** corrects their mistake. The same exact issue occured for tax year 2023 and I was also required to file an amended tax return due to *** issuing an incorrect 1098 statement for 2023. They are also misreporting the amount of principle I paid in 2024. I don't believe this company is properly applying my principle payments to reduce the loan balance. This company is completely incompetent.

  Business Response

  Date: 04/30/2025

  April 30, 2025
  
  ***** *******
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000358604
                                  Property Address:                           ***********************, RATHDRUM, ID *****
                                  BBB Complaint Number:               23245985
  
  Dear ***** *******:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal and your Servicing Digital Inquiry on April 25, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.

  
  In your complaint, you state that the 1098 statement for 2024 is incorrect as the amount on the form underreports the interest paid on the loan by thousands of dollars.

  
  Thank you for the opportunity to respond to the concerns submitted regarding the accuracy of Form 1098 interest reporting for tax years 2023 and 2024.

  
  We have reviewed your concerns thoroughly, including the assertion that the Form 1098 for 2024 underreported mortgage interest paid by several thousands of dollars. Upon investigation, we confirmed that the reported amount for 2024 does not reflect the full calendar-year interest paid,because a portion of the interest - specifically $7,985.17 - was already included on the corrected 2023 Form 1098. This occurred due to a loan recast,which altered the amortization schedule and affected the timing of interest recognition across tax years.

  
  In early April 2025, you contacted us by phone requesting a corrected 1098 for 2024. A Year End Inquiry was opened in our system on April 17, 2025, and closed on April 25, 2025, after our internal review determined that the interest was reported correctly across both tax years. We acknowledge that you may not have received a detailed explanation or supporting documentation at that time, and we regret any confusion or inconvenience caused.

  
  To assist you in understanding the reporting, we are providing:
  

  Form 1098 for both 2023 (corrected) and 2024

  A detailed *** Account History showing how interest was applied to the loan over time

  A written explanation of how the recast affected interest reporting and why this led to an offset across tax years
  
  Regarding your concern about principal misreporting, the complaint does not include sufficient detail for us to determine the exact nature of this issue. However, the Account History provided may help clarify any confusion regarding principal payments. We remain available to review any specific discrepancies you can identify.

  
  Finally, we would like to reaffirm our commitment to accurate reporting and transparent communication. We recognize the impact of tax form inaccuracies and remain committed to resolving any issues that arise in a timely and thorough manner.

  
  Please let us know if additional information is needed.
  
  Fay Servicing,LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M.,Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (3)

• Initial Complaint

  Date:04/23/2025

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am submitting this complaint against Fay Servicing for mishandling my FHA-backed loan modification request, increasing my mortgage payment without explanation, and providing poor customer service.I initially contacted ******************** to apply for a loan modification due to financial hardship. I was told someone would follow up to request additional documentation, but I was never contacted. On April 22, 2025, I received a call from a representative who was pleasant, but informed me that my case had already been reviewed. She said my only options were to sell my home or pursue a short sale due to existing equitydespite my clear request to stay in my home through a modification. She also claimed I had previously been offered a payment plan, which I was never told about.When I asked about the payment required to bring my loan current, she gave me a number but could not confirm when it was due. Instead, she asked if I wanted to keep my homea surprising and inappropriate question considering my original request was a loan modification. I was told I had to provide payment information immediately because the offer would expire at the end of April, with no written documentation or time to review terms.Additionally, my monthly mortgage payment increased from $843 to $1,200 without explanation. My insurance has not changed, and multiple representatives could not explain the increase. I also contacted *** previously to inquire about removing PMI. The agent was rude and refused to escalate the issue. When I left a voicemail for a supervisor, I received no callback or guidance.This experience reflects the same concerns found in CFPB Case No. 2017-CFPB-0014, where Fay Servicing was found to have withheld critical info and mishandled foreclosure relief processes.I am requesting a proper FHA-compliant review of my loan mod request, explanation of the payment increase, a clear process for PMI removal, and accountability for their customer service practices.

  Business Response

  Date: 05/01/2025

  May 1, 2025
  
  ***** *********
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000376039
                                  Property Address:                           ***********************************************
                                  BBB Complaint Number:               23238719
  
  Dear ***** *********:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 23, 2025, regarding your above-referenced mortgage loan.
  
  
  In your complaint, you expressed the following concerns:
  
  Loan Modification Request and ******************************************************************************************************* Experience
  
  
  Loan Modification Request and Evaluation
  

  You stated that you contacted us to request the loan modification due to financial hardship and that you did not receive a follow-up request for documentation. Per *** guidelines and our internal policy, a loss mitigation application is deemed complete when either a verbal request for assistance is received or any supporting documentation is submitted. In your case, a verbal request was made on March 31, 2025, and a complete loss mitigation application was initiated and recorded in our system on that date. A letter was mailed to you on April 1, 2025, confirming receipt of your completed application. Following this, your account was reviewed on April 21, 2025, for all available *** loss mitigation options. Unfortunately,the account did not qualify for any home retention solutions at that time. You were offered a Short Sale through the *** COVID-19 Pre-Foreclosure Sale Program,which was outlined in the Evaluation Letter sent to you on April 21. On April 22, 2025, your assigned Account Manager contacted you by phone to review the results of the evaluation. You declined the non-retention option and expressed your continued intent to keep your home. As a result, the Account Manager offered an informal 3-month Repayment Plan, which you accepted during the call.A confirmation letter detailing all the terms of the plan was issued on April 22, 2025. The plan consists of three payments of $2,055.05 each, beginning April 30, 2025, based on your account being fewer than 90 days delinquent and your ability to resume regular payments. Please note this plan was optional and does not restrict your ability to reapply for loss mitigation assistance.
  
  
  Mortgage Payment Increase
  
  Regarding your concern about a sudden increase in your monthly mortgage payment, your loan transferred to us on April 16, 2024, with an initial monthly payment of $845.37. This was based on the then-current escrow analysis, which included:
  
  Annual property tax: $1,120.65
  Homeowner's insurance: $1,771.55
  *** mortgage insurance premium ("MIP"): $1,075.32
  

  We completed an escrow analysis on November 18, 2024, resulting in a new monthly payment of $1,233.03, effective January 1, 2025. The new amount was driven by updated tax and insurance costs,as well as a negative escrow balance of $2,947.06, and a required escrow cushion of $1,445.57. The resulting shortage of $4,392.63 was spread over twelve months, contributing $366.05 to the increased monthly payment.
  A recent escrow analysis was completed on April 28, 2025, which reduced the monthly payment to $912.79, effective June ******. This analysis reflects updated tax and insurance figures and a much smaller escrow shortage of $551.87.
  

   

  Mortgage Insurance Premium ("MIP") Removal
  

  You inquired about removing MIP from your *** loan. *** guidelines dictate that MIP is required for the life of the loan in most cases. At closing, you signed the ***/VA Addendum to Uniform Residential Loan Application, which indicated you would have *** MIP for 30 years. Your loan is scheduled to pay its final premium in October 2043, with the last premium due in September 2043. To formally address your request, we opened an ************* Inquiry, which resulted in an *** Removal Denial letter being mailed to you, explaining why MIP removal is not currently an option.

  
  Customer Service Experience

  We regret to hear that you were dissatisfied with the customer service you received. Your concern regarding the handling of your MIP inquiry on March 11, 2025, has been noted. The agent documented that you were advised of the ***'s purpose and became frustrated during the call, at which point your request for escalation was honored, and the call was transferred to an Assistant Vice President's voicemail. *** records indicate that the Assistant Vice President attempted to return your call on March 14, 2025, and a voicemail message was left. We sincerely apologize if our service did not meet your expectations. We take all customer concerns seriously and are continuously working to improve our communication and training to ensure clear, respectable, and helpful interactions with all borrowers.
  
  
  As a courtesy, please find enclosed the following documents concerning the specific concerns raised in your complaint:

  Complete Loss Mitigation Application Acknowledgement Letter
  Loss Mitigation Evaluation Letter
  Informal Repayment Plan
  Escrow Account Disclosure Statements (2)
  HUD/VA Addendum to Uniform Residential Loan Application
  *** Removal Denial Letter
  
  Final Summary
  
  At this time, our records do not indicate any servicing errors. Your loss mitigation request was reviewed in accordance with *** guidelines, and all related communications were timely and documented. Additionally, your concerns regarding the escrow analysis and MIP have been addressed per regulatory standards. On April 30, 2025, we received the first payment in the amount of $2,055.05 which was partially applied to satisfy the February 1, 2025, payment. As of the date of this letter, the account is due for the March 1, 2025, payment and subsequent installments totaling $3,699.09. We encourage you to continue with the Repayment Plan established and remain in contact with your Account Manager should your financial situation change. If you have any further questions or need additional assistance, please don't hesitate to contact us.
  
  If you have any questions, please contact your Account Manager, ******** ********, at *************. Additionally, Fay Servicing, LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (7)

• Initial Complaint

  Date:04/17/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Hello and thank you for consideration. My complaint is with Fay Servicing LLC...my mortgage holder. Fay Servicing is failing to report timely payments to the respective credit bureaus and has refused to report in over 2 years. I have had multiple issues with this creditor on reporting false information, lost payments and threats to default on the agreement. Fay Servicing LLC is also claiming that my mortgage was part of a chapter 7 bankruptcy. The mortgage was NOT included in the chapter 7 as per the lender refinancing my mortgage. The inaccurate information, false reporting, and claims of my mishandling of this account has been damaging to my credit and score. I only desire that Fay Servicing LLC, Equifax, Experian, and ********** report information accurately and timely due to the Fair Credit Reporting Act. Respectfully submitted ****** D *****

  Business Response

  Date: 04/22/2025

  April 22, 2025
  
  ****** *****
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000310404
                                  Property Address:                           *************************************
                                  BBB Complaint Number:               23209677
  
  Dear ****** *****:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 17, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that *** is failing to report payments on time to the respective credit bureaus and has refused to report in over two years. You also state there were multiple issues regarding false information, lost payments and threats of default.
  
  Thank you for bringing your concerns to our attention regarding the reporting of your mortgage loan account. We have thoroughly reviewed your account and the concerns you raised. According to our records, your mortgage loan was discharged in a Chapter 7 bankruptcy proceeding, and there is no reaffirmation agreement on file. As a result, in accordance with standard industry practices and the Fair Credit Reporting Act (****), we are not reporting ongoing payment activity to the credit bureaus. In cases where a loan is not reaffirmed through bankruptcy, we are legally restricted from reporting post-discharge payment activity as it could be construed as attempting to collect on a discharged debt. When you previously contacted us, our representative requested a copy of any reaffirmation agreement for further review. To date, we have not received the requested documentation. If you are able to provide a signed and filed reaffirmation agreement, we will be happy to re-evaluate your account for potential corrections. Additionally, while you noted concerns about alleged servicing errors such as lost payments, false information, and threats of default, we were unable to locate specific instances based on the information provided. If you would like to pursue these issues further, we kindly request that you provide specific dates, details, or documents so that we may conduct a full investigation. Please know that we take the accuracy of our reporting and our handling of your account seriously. We are committed to working with you to resolve any issues within the scope of applicable laws and regulations. At this time, your loan is due for the May 1, 2025, mortgage payment. We encourage you to continue making timely payments to keep your account in good standing. If you have any questions or would like to provide the requested documentation,please contact us at the telephone number listed below.
  
  Fay Servicing,LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M.,Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing, LLC 
  

  Customer Answer

  Date: 04/23/2025

   
  Complaint: 23209677
  
  I am rejecting this response because: the mortgage in question was NOT a part of a chapter 7 discharge. The secured debt which included the mortgage in question was put under a chapter 13 plan to include a court ordered mortgage reformation. The said mortgage company(enclosed) was present during plan restructure by order of the ******************** under the Chapter 13 bankruptcy laws. The plan was accepted, ************* then structured a loan modification plan for repayment of arrears on said mortgage. ************* then sold mortgage to Fay Servicing with NO INTERRUPTION of payments from origination to present. I have more documents to provide on Fay Servicing requesting the Superior Court to vacate the automatic stay under the plan 13 due to false reporting of missed payments. My attorney quickly dismissed this claim. The Fair Credit Reporting Act specifies that loan modification, restructure, and new MORTGAGE ORIGINATION must be reported to respective credit reporting agencies. This mortgage was not filed under any chapter 7 plan, which this information can also be obtained via the Trustee of NJ, Ms. ****** ******. Please review attached correspondence as evidence of false reporting and documentation by Fay Servicing LLC. 

  I only desire this matter be investigated with diligence, fairness and professionalism under the guidelines of accurate reporting by financial institutions. 
  
  Respectfully,
  
  ****** D. *****

  Business Response

  Date: 04/30/2025

  April 30, 2025
  
  ****** *****
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000310404
                                  Property Address:                           *************************************
                                  BBB Complaint Number:               23209677
  
  Dear ****** *****:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 25, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that you are rejecting our prior response because the mortgage was not a part of a Chapter 7 discharge and was instead converted to Chapter 13. Your new documentation reveals that Seterus was present during court proceedings at the time of the case's conversion, and you acknowledge that a loan modification was completed by *** afterwards.

  
  Thank you for your continued communication regarding your concerns related to the credit reporting of your mortgage loan. We appreciate the opportunity to further clarify our position in response to the new information you provided.

  
  Upon receipt of your rebuttal and supporting documentation,we conducted a thorough review of your bankruptcy history and payment reporting concerns. We engaged our Bankruptcy team for a full re-evaluation of your case,including the records you recently submitted.
  

  Our records reflect the following:
  

  Case No. 16-33786 was initially filed under Chapter 7 on December 14, 2016, converted to Chapter 13 on May 9, 2017, and ultimately converted back to Chapter 7 on July 31, 2017. This case was discharged on November 22, 2017.
  
  Case No. 2019-11740 was filed under Chapter 13 on January 28, 2019. This case was terminated without discharge on April 29, 2024, due to your prior discharge in Case No. 16-33786.

  
  As a result, your mortgage loan remains subject to the Chapter 7 discharge granted on November 22, 2017. *** records do not indicate that a reaffirmation agreement was executed for this loan. In accordance with industry standards and the Fair Credit Reporting Act ("FCRA"), in the absence of a reaffirmation agreement, we do not report ongoing payment activity to the credit bureaus. This policy is in place to protect consumers from post-discharge debt collection and to remain compliant with federal guidelines.

  
  While we acknowledge your assertion that a loan modification occurred post-bankruptcy, we must clarify that loan modifications do not override or negate a Chapter 7 discharge unless a reaffirmation agreement is signed and filed with the court. At this time, we still have not received a copy of such an agreement.

  
  Should you locate and provide a signed and court-filed reaffirmation agreement specific to this mortgage, we would be more than willing to re-evaluate your account and explore options for potential updates to your credit reporting.

  
  We hope this explanation provides clarity and reaffirms our commitment to handling your concerns with transparency and due diligence. If you have any further questions or require additional assistance, please do not hesitate to contact our office.
  
  Fay Servicing,LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M.,Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing, LLC 

  Customer Answer

  Date: 05/03/2025

   
  Complaint: 23209677
  
  I am rejecting this response because: The chapter 7 filed in 2016 was rejected by the bankruptcy court for not meeting specific guidelines. The chapter 13 case was subsequently filed after meeting the specific guidelines. The chapter 7 was refiled with the court when guidelines were met, to include all unsecured debt responsibilities. The chapter 13 was filed with secured debt responsibilities including the mortgage in question. As a matter of court legal documents, I am seeking specific documents from Fay Servicing LLC, which should show  that the property in question was under any chapter 7 discharge. At no time, was the debtor discharged from the mortgage responsibility as per the chapter 13 repayment plan protection. I am also demanding the Better Business Bureau seek documents from Fay Servicing LLC, that support the claim of a chapter 7 discharge on said mortgage. This information can be obtained with the *************** of New Jersey 

   

  Respectfully,

   ****** D. *****

• Initial Complaint

  Date:04/11/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Fay Servicing representatives failed and/or could not inform me the reason for my not receiving Statements nor why I was unable to make monthly payments via the telephone automated system as usual in December 2024, January, February, and March 2025.This is negligence on the part of Fay Servicing, LLC. It was not until March 2025, when I was made aware of the "Lost" Authorization Letter by Fay Servicing on your files and records. The attached "Authorization Letter" dated August 8, 2018, from my Bankruptcy Attorney sent to Fay Servicing which somehow has been "Lost." This authorization letter has been in effect since 2018, allowing Fay Servicing to communicate directly with me and to mail my monthly mortgage statements. My Bankruptcy status with Fay Servicing does not allow me to utilize the Fay Servicing website to access my account data. Therefore, I am only able to rely on telephone communication with the ********************** Making calls to Fay Servicing customer service is like accessing a blackhole that does not allow direct names and extension numbers for follow-up or accountability. When I dial **************, this requires I speak to two (2) representatives and give my name, social security number, address, and account number for each and a third time when finally transferred to the ********************* all while listening to extremely loud music.This is unacceptable as I cannot get a Direct Response/Resolution on this matter. On Tuesday, March 25, 2025, I spoke with Mr. ***** ****** who requested the Bankruptcy Attorney resubmit another Authorization Letter inclusive of the "Full Account No as he stated this was the reason for the mishap. Again, the attached Authorization Letter has been in effect since 2018 -- and all of a sudden Fay Servicing's records have been skewed with no "logical" explanation accountable to me for stopping the mailing of monthly Statements.

  Business Response

  Date: 04/18/2025

  April 18, 2025
  
  ****** *********
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000188288
                                  Property Address:                           *********************************************************
                                  BBB Complaint Number:               23192464
  
  Dear ****** *********:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 11, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that *** failed to and/or could not inform you of the reason why you are no longer receiving periodic statements nor why you were unable to make monthly payments via the telephone automated system as usual. You state that *** has had authorization in effect since 2018 to communicate directly with you regarding the account; however, you were recently made aware of the authorization letter being lost on file.
  
  Thank you for bringing your concerns to our attention. We appreciate the opportunity to review your account and address the matters you have raised regarding the servicing of your mortgage loan and your concern regarding authorization to communicate with you directly. After a thorough review of your account and consultation with our Bankruptcy team, we would like to provide clarification.Fays records indicate that your loan remains associated with an active bankruptcy case and the account is represented by an attorney. We acknowledge that a prior authorization letter was received from your bankruptcy attorney in August 2018. While a representative documented the authorization at that time,we regret that we were unable to retrieve the original letter from our system and the impact it has had on your account. Previously, we requested updates to your loan account during November 2024 as part of our regular servicing practices related to active bankruptcy matters. It is a standard procedure not to issue periodic statements or enable certain automated payment options when a bankruptcy case is active, and the loan has obtained relief. This approach ensures compliance with bankruptcy laws and industry regulations. Please note,however, we appreciate your cooperation in having the authorization letter resent and we have now updated your account to indicate your direct authorization to communicate. We regret any inconvenience you experienced when contacting our **************************** Due to the nature of your loan being under bankruptcy protection, calls must be transferred to a specialist within our Bankruptcy team to ensure we provide accurate and compliant assistance. We appreciate your feedback regarding the call process, and we will share your comments internally as we continually seek to improve customer experience. Please note that while our Bankruptcy team does not have a direct inbound phone number, a dedicated Bankruptcy specialist has been assigned to your account as your single point of contact (SPOC).
  
  Your specialist can assist with account inquiries and help facilitate communications moving forward. We have enclosed the following documents for your review:
  
  *** Account History
  Copies of the most recent available periodic statements issued prior to the updates made during your active bankruptcy case (6)
  Periodic statement issued on March 28, 2025
  Escrow Account Disclosure Statements (6)
  
  As of the date of this letter, your mortgage account is contractually due for the May 1, 2025, mortgage payment. Should you need assistance with making your payment or have any additional questions, your Bankruptcy SPOC is available to assist. We value your business and appreciate your patience and understanding.
  
  If you have any questions, please contact your Account Manager, ***** ******, at *************. Additionally, Fay Servicing, LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (14)

  Customer Answer

  Date: 05/21/2025

   
  Complaint: 23192464
  
  I am rejecting this response because: Please see attached. 
  
  Sincerely,
  
  ****** *********

  Business Response

  Date: 05/30/2025

  May 30, 2025
  
  ****** *********
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000188288
                                  Property Address:                           *********************************************************
                                  BBB Complaint Number:               23192464
  
  Dear ****** *********:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on May 21, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that you are rejecting our response as you remain concerned that you have not received periodic mortgage statements during December 2024, January 2025, February 2025, or May 2025. You also inquire about what will happen with your mortgage account once your Chapter 13 bankruptcy case concludes in July 2025 and request resumption of monthly statements and copies of the missing ones. Additionally, you voiced worry that *** may be transferring your loan to another mortgage company.
  
  Thank you for your continued communication and for allowing us the opportunity to respond further regarding the servicing of your mortgage loan. We understand your ongoing concerns about the availability of periodic mortgage statements and payment processing options. We appreciate your persistence in seeking clarity and the opportunity to respond to the matters youve raised most recently through the BBB and other regulatory channels. As previously explained, your mortgage loan remains associated with an active Chapter 13 bankruptcy case. In November 2024, updates were made to your account in accordance with our standard servicing procedures for loans in active bankruptcy. As a result,periodic mortgage statements were suppressed beginning December 2024. Therefore,statements were not issued during the months of December 2024, January 2025, or February 2025. A statement was inadvertently issued on March 28, 2025, due to a temporary removal of the bill suppression. We acknowledge this inconsistency and apologize for any confusion this may have caused. However, statement suppression resumed thereafter, and no periodic statement was issued during May 2025, in accordance with standard bankruptcy servicing protocols. We confirm receipt of your Check No. 361 in the amount of $1,420.40 on May 14, 2025, which satisfied the May 1, 2025, installment. Your mortgage loan is next due for the June 1, 2025, payment in the amount of $1,420.40. Please find attached a copy of your *** Account History for reference. We understand your request to resume monthly mortgage statements. Please be advised that periodic billing will resume once your bankruptcy case is officially discharged and closed, and our system is updated to reflect this change. We rely on formal documentation from the bankruptcy court to ensure accurate and compliant servicing. At that time,standard account communications including statements and automated payment options will be reinstated.
  
  Regarding your concerns about potential loan transfers, we can confirm that as of todays date, there are no changes or transfers planned for the servicing of your mortgage loan. Should this change in the future, you will receive advance written notice in accordance with applicable law. We appreciate the opportunity to address your concerns and sincerely regret any stress or inconvenience you may have experienced. *** is committed to compliant, transparent servicing of your mortgage loan and remains available to assist you as your bankruptcy case concludes.
  
  If you have any questions, please contact your Account Manager, ***** ******, at *************. Additionally, Fay Servicing, LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (1)

• Initial Complaint

  Date:04/02/2025

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My loan was originally with **********, on January 20, 2025 they transferred it over to Fay Servicing. Due to illness and not being able to work I got behind on payments to Shellpoint, I had made payment arrangements with them. I paid the following amounts to **********: 10-17-24 $500, 11-20-24 $666.28, 12-18-24 $666.28, 01-15-25 $666.28. Fay Servicing is saying I owe all the way back to August of 2024, which is not the case. I have reached out to them numerous times starting Feb 10, 2025 and continuing on until March 11, 2025, at that time the said they would look into my request and get back to me within 7-10 business days. It is now the 30th of March and I have not heard back from them. I made a payment of $363 on the 19th of March and they are still showing I am behind from August 2024. I send them bank statements showing payments made to **********. I had trouble with them one other time when they had my loan, they failed to post 2 payments, even through I had sent them proof of payments. I am sending copies of bank statements showing payments made. I am also sending a copy of an email saying that my payments were up to date, then they said I owed back to August 2024. I could not get it to load, so I cut it pasted here. Automatic reply: Fay Servicing | Case Number INC0114147 is resolved ServiceNow to ********************* Fri, Feb 14, 2025 6:24 AM We have completed your request. Please review the notes below regarding the resolution of the request.Resolution notes: Thank you for your email. Please note that the payments on the account are up to date and your account is due for 3/1/2025. Customer Support Team ********************, LLC We have completed your request. Please review the notes below regarding the resolution of the request. Resolution notes: Thank you for your email. Please note that the payments on the account are up to date and your account is due for 3/1/2025.

  Business Response

  Date: 04/18/2025

  April 18, 2025
  
  ******* ******
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000399415
                                  Property Address:                           **************************************
                                  BBB Complaint Number:               23136582
  
  Dear ******* ******:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 2, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  
  In your complaint, you state that you previously fell behind on payments and agreed to a Repayment Plan with Shellpoint; however, *** claims the account is past due for the August 2024, mortgage payment which is not the case.
  
  Thank you for contacting us and sharing your concerns regarding your mortgage loan account.
  
  First and foremost, we sincerely regret the stress and inconvenience you have experienced over the past several months,particularly related to the transition of servicing and the handling of your temporary Repayment Plan. We recognize that maintaining your home is a priority and deeply regret any confusion or difficulty this situation has caused you.
  
  Upon further review, we have confirmed with your prior servicer, Shellpoint Mortgage Servicing (Shellpoint), that you were actively participating in a temporary Repayment Plan at the time of your loans transfer to us. Unfortunately, due to discrepancies in the information we received during the transfer process, the Plan was not properly set up in our system. We sincerely regret this mistake and the impact it has had.
  
  At this time, because your loan is in active and/or pre-active foreclosure proceedings and past due for the August 15, 2024, mortgage payment, we are limited in our ability to immediately reinstate or rebuild the previous Repayment Plan. However, we want to work closely with you to find a resolution.
  
  We strongly encourage you to apply for loss mitigation assistance by completing and returning the enclosed Borrower Assistance Form (BAF) along with any required documentation. Please note however, we are unable to guarantee that a loss mitigation program will be offered.
  You can also submit the form online at ******************************. Once a complete application is received, we will evaluate your account for all available assistance options and respond within thirty (30) days.
  
  We are committed to working with you to explore every possible solution to bring your loan back to good standing.Should you have any questions or need assistance with the application process,please do not hesitate to contact us at the telephone number below.
  
  Fay Servicing,LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M.,Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (1)

  Customer Answer

  Date: 04/21/2025

   
  Complaint: 23136582
  
  I am rejecting this response because:

  It is not my fault that it did not transfer over properly from Shellpoint, why should I be penalized for their error.
  
  Sincerely,
  
  ******* ******

  Business Response

  Date: 05/02/2025

  May 2, 2025
  
  ******* ******
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000399415
                                  Property Address:                           **************************************
                                  BBB Complaint Number:               23136582
  
  Dear ******* ******:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 23, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that you are rejecting our response since it is not your fault that the Repayment Plan information did not transfer over properly from Shellpoint and you previously requested adjustments to the account.
  

  Thank you for your continued communication and for the opportunity to respond further.
  

  We sincerely regret the inconvenience and stress this situation has caused, particularly as it relates to the transfer of servicing and the Repayment Plan that was active with the prior servicer, Shellpoint Mortgage Servicing. You are correct this issue stemmed from a misalignment in the information we received during the transfer process, which unfortunately resulted in the Repayment Plan not being properly established in our system. We understand your concern that this inaccuracy should not result in a penalty to you, and we genuinely empathize with your position.
  

  We appreciate your submission of a loss mitigation application on April 22, 2025. As of April 24, 2025, your application was deemed complete, and we are currently evaluating it for all available options on behalf of the loan's owner. As outlined in the attached letter dated April 25, 2025, you will receive a written decision our Evaluation Letter - within 30 days of receipt of the complete application. You will have 14 days from the date of that letter to accept or reject any option offered.
  

  We want to assure you that while your application is under review, your account is entitled to foreclosure protections in accordance with applicable law. Although foreclosure proceedings have begun, we will not move forward to judgment or sale until your application has been fully reviewed, and a determination has been made.
  
  Please note, the submission of a complete loss mitigation application does not guarantee approval for any specific option. However, we remain committed to working with you toward a solution and will consider all available options during this review process. We appreciate your patience and understanding and remain available should you have any questions in the meantime. You may contact your assigned Account Manager at the telephone number below for updates on your application.
  

  As of the date of this letter, the loan is past due for the August 15, 2024, mortgage payment and subsequent payments totaling $3,270.15 minus the unapplied funds in the amount of $38.42.
  
  If you have any questions, please contact your Account Manager, ****** *****, at *************. Additionally, Fay Servicing, LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (1)

  Customer Answer

  Date: 05/03/2025

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ******* ******

• Initial Complaint

  Date:03/31/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My home in ******* is mortgaged by Fay Servicing. Ive always paid on time and even additional principal. After hurricanes ****** and ****** in autumn of 24, my house and the vacation island it is on was damaged. Since it is a rental, I could not rent it due to damages and a moratorium placed by the island on rentals. In addition, my house suffered $20,000 in damages that insurance would not cover. I reached out to *** to see if they offer a deferment (add to end of mortgage) hardship program since the house is in a FEMA condemned area. My *** was ****** ******, he was very kind and seemed knowledgeable. I applied for the deferment in late October and Mr. ****** telephoned me to let me know my request was accepted. He was explicit that payments for three months, Nov, Dec and *** would be added to the back end of the mortgage term and my regular payments would resume on Feb 1, 2025. On ***uary 31, 2025 I received a mortgage modification from ***. I was confused because I did not need or request a modification, just a few months deferment after which time I was perfectly ale to make payment. I was unable to reach Mr. ****** after this or anyone on the phone. In mid-February I was notified by credit bureaus that *** ***orted a delinquency on my account and my score plummeted. Ive disputed this ***ort to all the credit bureaus and the ****. Not one did their due diligence, they simply believed what *** responded to and took their word - a D+ on BBB, multiple similar complaints and suits against my word. I have a history or good credit, am a cancer nurse, pay my taxes etc. I want my credit ***aired.

  Business Response

  Date: 04/09/2025

  Please see the attached response.

  Customer Answer

  Date: 04/09/2025

   
  Complaint: 23136064
  
  I am rejecting this response because:  I was telephoned on the October date mentioned by *** representative, ****** ****** who verbally told me I was granted a deferment.  I specifically made sure the payments would not be due at the end of the period, but would be added to the back of the mortgage.  I ask that you, the BBB and *** take a look at our histories.  My professional and credit history is unscathed.  Fays on the otherhand, not so much.  I would never agree to something I could not pull off as evidenced by my credit history.  
  I ask that you, and *** take into account that credit history and my professional history into account and simply withdraw the delinquency report so I can resume my life as I need my good credit back.  I dont care if they blame me for a misunderstanding on my part, please just remove it.  I dont understand why they would want to harm me this way.  The mortgage payments have resumes with extra toward the principal. 
  
  
  Sincerely,
  
  ******* ******

  Business Response

  Date: 04/18/2025

  Hello,
  We have attached our response for your review.
  
  Thank you

  Customer Answer

  Date: 04/18/2025

   
  Complaint: 23136064
  
  I am rejecting this response because:

  Its simple.  Its there word (a D rated, multi-complaint/lawsuit company) against mine (a clean healthy credit history in the most trusted profession).

  I was not sent any documents confirming the deferment, and on the other hand, *** HASNT PRODUCED ANY DOCUMENTS CONFIRMING their forbearance.  Is not that something a bank would have to show their side?? The burden of proof should be on the financial institution, not on the customer.
  
  Sincerely,
  
  ******* ******