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, LLC

  1801 S Meyers Rd Ste 210 Oakbrook Terrace, IL 60181-5265

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:02/20/2024

  Type:Customer Service 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 the executor of the will of *************************, whose LLC had 3 mortgages on a set of townhouses in *** ** with Fay Servicing. These properties were sold and paid off in full on Jun 12, 2023. As of Feb 16, 2024, the liens on these properties had not be released. Fay Servicing states the issue lies between the lender and the servicer - this is not able to be resolved by my closing atty or by me. They have not been able to give us a date that these liens will be released and refuse to let us speak with the lien release ***** we are only able to communicate with customer support. Customer support frequently refuses to give me information, claiming I have not shown any paperwork to prove my status as the executor. I have emailed a death certificate and probate documents several times to the email that they have given me. Overall, this is a shady company with poor business practices. They are well over any state's length of time they have to release liens after a mortgage payoff.

  Business Response

  Date: 02/29/2024

  February 29, 2024
  
  *******************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000313055
                                  Property Address:                           *****************************************************
                                  BBB Complaint Number:               21302335
  
  Dear *******************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on February 20, 2024, regarding the 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 are the named administrator of the will and testament for the borrower, **************************, whose LLC owned three business purpose loans serviced by ***. However, the properties were sold and paid off in June 2023.  You state that as of February 16, 2024, the liens associated with the properties have not been released and *** informed you there is an unresolved issue which has delayed drafting of the lien release document(s).
  
  We have reviewed your correspondence and determined that the lien release document has not been promptly sent for recording because of an assignment issue which is hindering the release. We have escalated this matter, and our efforts are currently underway with the original lender, DLP ********** 3, LLC,to have the missing assignment executed from them to our investor, *********************************** It is important to note that the above-referenced business purpose loan is the only active loan in our system associated with *********************** and *************, LLC. Our records show that the account was updated on January 18, 2024, to reflect you as a named administrator of the estate.
  
  Please be assured that this experience is important to us, and we will continue to monitor the account to ensure this matter is fully resolved. *** will provide an updated response to the mailing address on file, within the next thirty (30) days. Please know that **************** is of the utmost importance to us, and we regret you did not receive the excellent level of service which our firm is known for. Please be assured that this is not typical of our operating procedures, and we apologize for the inconvenience and frustration that this matter has caused.
  
  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 

  Customer Answer

  Date: 03/14/2024

   
  Complaint: 21302335
  
  I am rejecting this response because the matter is not resolved, and Ive not been updated of any efforts or attempts to resolve it. The liens are not released still and you should be fined for your incompetence.
  
  Sincerely,
  
  *******************

  Business Response

  Date: 03/22/2024

  March 22, 2024
  
  *******************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000******
                                  Property Address:                           *****************************************************
                                  BBB Complaint Number:               21302335
  
  Dear *******************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 14, 2024, 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 are rejecting our previous response because the liens have not been released and you have not been advised of any efforts or attempts to resolve.
  
  After completing a further review,we concluded that the lien releases for ****** and ****** were executed and recorded in July of 2023. Please find attached a copy of the lien releases for reference. Currently, we are missing an assignment for the above-referenced loan number ****** which is hindering the release; however, our Assignment of Mortgage team drafted an Assignment of Mortgage that was sent for execution, to the original lender, DLP ********** 3, LLC (DLP) on March 18, 2024. We have since been informed by DLP that the assignments have been executed and returned.We expect the Assignment of Mortgage to be submitted for recording in the next week and we will continue to monitor the account to ensure this matter is amicably resolved. *** will provide an updated response to your mailing address on file, within the next fifteen (15) business days. We sincerely regret the inconvenience and frustration caused by this matter.
  
  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 (2)

• Initial Complaint

  Date:02/15/2024

  Type:Customer Service 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.

  2/13/24. I called in today to talk about my account. I am under bankruptcy so my attorney had sent an authorization for them to speak with me 10/20/23. When I spoke to representative ********, she said no letter was received. I even verified the fax number was correct. she told me to do it again. I said I did it but it was not received so if I could get another number. she then proceeded to get an attitude and said "WELL IF YOU FOLLOW THE INSTRUCTIONS I AM GIVING YOU" WELL mam I did! so she kept getting louder and more obnoxious, so I hung up. I called back and talked to a man, miraculously, he found the letter and said it was ignored because "***" was spelled wrong. it was spelled "****" and then stated that maybe my attorney office need to know how to spell. Like wow? really? But ok he found it, why couldn't ******** tell me this? why was she an obnoxious person? so if I would have never called back and my attorney office did it again not realizing that "***" had an extra "e" it would have been rejected right? Why kind of customer service is this? I am so disgusted at these people! I was just trying to find out why they raised my mortgage with no explanation. they really need to do a more thorough training of customer service. if they record these conversations, it should be reviewed. I am looking for an apology and a guarantee that they will assist their customers better.

  Business Response

  Date: 02/22/2024

  Please see the attached response.

• Initial Complaint

  Date:02/12/2024

  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.

  I reached out to my account manager ************************* three times regarding follow up on HAMP documents I sent him and customer service. He and ******************** have chosen to ignore me. According to the agreement I made with **** of America (the originator of my home loan), I am supposed to receive $10,000 off the principal balance of my loan following certain stipulations such as paying my mortgage on time. I have done that. I received the first $5000 last year and I am supposed to receive another $5000 this year. Fay Servicing is not in compliance with this federally funded HUD program. Any attempts to get someone to speak to me from Fay Servicing has gone nowhere. I am checking with HUD and the *** to see what legal recourse I have. In the meantime, Fay Servicing needs to honor the original agreement/terms of the loan modification.

  Business Response

  Date: 02/20/2024

  February 20, 2024
  
  *****************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000173258
                                  Property Address:                           ***************************************************************************
                                  BBB Complaint Number:               21281829
  
  ****************************************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on February 12, 2024, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  Please know that **************** is of the utmost importance to us, and we regret you did not receive the excellent level of service which our firm is known for. Please be assured that this is not typical of our operating procedures, and we regret any inconvenience and/or frustration that this matter has caused.
  
  In Fays response dated October 28, 2022, we explained that the **** Modification was completed in December of 2016. A copy of the modification agreement has been attached for reference. By remaining current on your **** modification for the last six (6) years, the notice states that you may have earned up to $10,000.00 in pay for performance incentives which may be applied to the unpaid principal balance. Please note, with the recast (or re-amortization) your scheduled interest rate(s) will increase, but your principal and interest payment will decrease based on the lower unpaid balance (after all incentives are applied) that will be paid over the remaining term of your loan.
  
  Upon further review of the account, we confirmed that the **** funds in the amount of $10,000.00 were applied to the principal balance of the loan. We have attached copies of the Fay Servicing Account History for confirmation and the chart below provides a breakdown of the payment application.
  
  Transaction Description Transaction Date Payment Principal Balance Before Principal Balance After
  Principal Curtailment September 27, 2022 $5,000.00 $136,055.20 $131,055.20
  Principal Curtailment September 28, 2021 $1,000.00 $141,198.14 $140,198.14
  Principal Curtailment September 29, 2020 $1,000.00 $146,558.10 $145,558.10
  Principal Curtailment September 30, 2019 $1,000.00 $151,798.91 $150,798.91
  Principal Curtailment January 17, 2019 $2,000.00 $156,558.75 $154,558.75
  
  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 (3)

  Customer Answer

  Date: 02/22/2024

   
  Complaint: 21281829
  
  I am rejecting this response because: This does not match the documents I have in my records. Based on the documents you provided, you provided a curtailment before it was due. According to the agreement set forth by **** of America, I was not supposed to receive a principal deduction of $5000 until after December 2022. Then another $5000 was supposed to be applied after December 2023. These documents that you have supplied are fraudulent and do not match the many documents that I have. You can forge documents in the system, but you cannot fix documents that were previously mailed to me or downloaded.
  
  Sincerely,
  
  *****************************

  Business Response

  Date: 03/01/2024

  March 1, 2024
  
  *****************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000173258
                                  Property Address:                           ***************************************************************************
                                  BBB Complaint Number:               21281829
  
  ****************************************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on February 22, 2024, 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 previous response because the documents provided do not match your records and indicate that a principal curtailment was provided before it was due as the account was not due for a principal reduction of $5,000.00 until after December 2022. You state that the account is currently due for another principal reduction of $5,000.00; however, *** has not applied the funds and is not in compliance with the federally funded HUD program.
  
  After conducting a reasonable investigation, *** has determined that no error occurred. You executed the Home Affordable Modification Agreement with the modification effective date of January 1, 2017, which we have attached for reference. A summary of your Loan Modification was provided by **** of America in the attached Loan Modification Clarity Commitment, which states that if your loan is permanently modified, you could be eligible for up to a total of $10,000.00 in incentive payments that will help you by reducing the amount you owe. There is no specification stated in these documents that the account would not be provided with a principal reduction until after December 2022, nor is it specified that an additional principal reduction would not be applied until after December 2023. The letter attached to your complaint states your maximum annual incentive could be as much as $1,000.00 per year for five years for a total of $5,000.00 and the incentive will be applied to your principal balance each year after the anniversary date of your first Trial Period Plan payment due date, if your modified loan is in good standing and has not been paid in full at the time the incentive is paid. Upon acquiring your loan for servicing in September 2017, *** applied an initial principal reduction totaling $2,000.00 on January 17, 2019. There were then three additional principal reductions each in the amount of $1,000.00, applied on September 30, 2019,September 29, 2020, and September 28, 2021, resulting in the total maximum annual incentive of $5,000.00 to be earned as outlined in your **** documents. The letter attached to your complaint further states you can earn an additional $5,000.00 incentive in year six of your modification, if your loan is in good standing and has not been paid in full as of the date the incentive is payable,without regard to the number of payments or whether the monthly mortgage payment was reduced through **** by at least 6%.
  
  In addition, the letter states if earned, the $5,000.00 incentive will be applied to your principal balance the month after the sixth anniversary of your first Trial Period Plan payment due date. It was then on September 27, 2022,when *** applied the remaining $5,000.00 in principal reduction to the loan,resulting in the total $10,000.00 in **** funds that were due. In our previous response, we attached a copy of the *** Account History that is confirmation,and the chart below provides a breakdown of the payment application.
  
  Transaction Description Transaction Date Payment Principal Balance Before Principal Balance After
  Principal Curtailment September 27, 2022 $5,000.00 $136,055.20 $131,055.20
  Principal Curtailment September 28, 2021 $1,000.00 $141,198.14 $140,198.14
  Principal Curtailment September 29, 2020 $1,000.00 $146,558.10 $145,558.10
  Principal Curtailment September 30, 2019 $1,000.00 $151,798.91 $150,798.91
  Principal Curtailment January 17, 2019 $2,000.00 $156,558.75 $154,558.75
  
  *** sent the **** recast notice dated September 30, 2022, to your mailing address on file which states the following: Our records indicate you have remained in good standing on your Home Affordable Modification Agreement. Due to a recent update to the Making Home Affordable program, homeowners may be eligible to receive a recast or re-amortization on the sixth anniversary of your permanent modification date. By remaining current on your **** modification for the last six years you may have earned up to $10,000 in pay for performance incentives through ****. These incentive funds were applied as a principal curtailment to the unpaid principal balance and ultimately will help build equity in the property.
  
  Option to Lower Your Monthly Payment
  You now have the option to lower your monthly payment through a one-time recast (or re-amortization) of the interest-bearing portion of your loan. With a recast (or re-amortization), your scheduled interest rate(s) will not change,but your principal and interest payment will decrease based on the lower unpaid principal balance (after all earned incentives are applied) that will be paid over the remaining term of your loan. If you choose to recast your loan and make the recast payment, you will not pay off your loan early. In addition,please be advised that the total amount of interest paid may increase.
  
  It is important to note that the offer was optional, and you had the ability to opt in or opt out after reviewing the terms of the recast. We received your signed and executed copy of the **** Recast Notice dated October 26, 2022, which we have attached for reference. The **** recast was then implemented on January 24, 2023. Effective with the recast, the monthly mortgage payment became $901.97 with an interest rate of 3.62500%.
  
  
  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 (3)

  Customer Answer

  Date: 03/05/2024

   
  Complaint: 21281829
  
  I am rejecting this response because: The companies response is the same along with documents they keep attaching. I have all the *** documents. I know what they say. I thought this time around you would provide a statement that shows these curtailments. I don't see anything on the website that lines up with the dates that you provided in both responses.  Furthermore how was I supposed to know that I received a curtailment. As a company you did not provide any documentation that this occurred on the dates you mentioned. That's why this seems made up. Finally, per the document that you reattached, the incentive was supposed to be provided a month after the 6th anniversary of the first trial period plan. According to your claim you started the curtailment earlier than my agreement with ***. Thus the reason I was not aware a curtailment took place. At this point, I don't have time to go back and forth. You need to provide some evidence that curtailments took place over a period of time, not just dates lumped together in a letter.
  
  Sincerely,
  
  *****************************

• Initial Complaint

  Date:02/05/2024

  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 could not provide my ************* with an accurate payoff amount with an accurate prepayment penalty amount as of (any) specific date due to 'system limitations'. I requested a payoff statement a month in advance, a week in advance, and a day in advance and they could only provide the payoff amount accurate as of the day it was requested. They repeatedly failed to provide a payoff to my ************* on time, and therefore my ************* sent Fay Servicing a payoff with an overage.Fay Servicing also intends to continue to debit my account for monthly mortgage payments even though the loan has been paid in full as of Feb 1st, 2024. I have called and explicitly said I want to revoke ACH authorization, and they said there is nothing they can do to stop a payment on Feb 5th, 2024, they can only refund payments afterward (up to 21 days later).I would like to be reimbursed for all overage payments immediately (not in 21 days), including the overage in the original payoff, incorrectly assessed prepayment penalties, in addition to potential overdraft and a stop payment fees charged by my bank on Feb 2nd to prevent future draws from Fay Servicing LLC.

  Business Response

  Date: 02/12/2024

  Please see the attached response.

  Customer Answer

  Date: 02/13/2024

   
  Complaint: 21238303
  
  I am rejecting this response because according to the business response, Fay Servicing is aware of the overage payment and incorrectly assessed prepayment penalty.  Fay Servicing did not express an interest in correcting these before closing, even though they were given 3 opportunities to do so.  They also have not indicated any planned changes to their business practices to prevent these issues for future customers.

  Fay servicing has also indicated they are aware of the stop payment required to prevent them from making an unauthorized ACH withdrawal, and have not offered to cover these fees.

  I am still awaiting reimbursement of the overages paid to Fay Servicing.

  Sincerely,
  
  *********************

  Business Response

  Date: 02/21/2024

  Please see the attached response.

  Customer Answer

  Date: 02/22/2024

   
  Complaint: 21238303
  
  I am rejecting this response because:

  Fay Servicing LLC claims they are unable to alter the prepayment amount that is owed on the payoff letters as the amounts are generated based on the terms of the Note.  Yet they have only demonstrated they can alter the prepayment amount in their favor.  When I requested a payoff in January to reflect payoff on Feb 1st, they were unable to generate an accurate payoff statement, and the payoff statement they provided reflected the prepayment penalty for January.

  *** claims that they cannot generate payoff statements reflecting the prepayment penalty schedule, but they provided the correct prepayment schedule in their response to this complaint.  Even though they know the prepayment penalty schedule, they fail to adhere to the same schedule when generating future payoff statements.

  In regards to the unauthorized withdrawal attempt: I told *** verbally on Feb 2nd that I revoked the *** authorization, yet they still attempted to make an *** withdrawal on my bank account after the loan was paid in full, resulting in stop payment fees.

  These failures resulted in my ************* having no choice but to overpay the payoff amount.  It is 22 days later and I have yet to receive compensation for overpayment or stop payment fees as a direct result of Fay Servicing LLC's incompetence.

  
  Sincerely,
  
  *********************

• Initial Complaint

  Date:02/01/2024

  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 provided me a payoff amount for my mortgage November 2023. I submitted a cashiers check as they requested for the full amount on 12/4/2023. They claimed they never received it. I called them 12/22/23 to let them know the check cleared on 11/14/2023. I emailed them proof the check was cashed by them approx 2 weeks ago. I called them frequently to be told they didn't have the payment. Today ******************* finally told me they found the payment and to allow time. I also received a message from customer service today and they want more money because they paid another tax bill 1/9/2024. I feel they are going to keep up this nonsense and continue to try to get me to pay more money. I paid what they requested they need to credit my account what I paid, close my case, and correct t my credit report please

  Business Response

  Date: 02/09/2024

  February 9, ****
  
  ***********************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000342739
                                  Property Address:                           ************************************************************************
                                  BBB Complaint Number:               21224158
  
  Dear ***********************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on February 1, ****, 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 Account Manager recently advised that we were able to locate the cashiers check and to allow time for the funds to be applied. However, you received a message asking for additional funds. You state that you paid the amount required to pay off the loan, therefore *** needs to credit the account and correct the information reported to the credit agencies.
  
  After completing an investigation, we determined that *** previously completed a payoff quote on November 21, 2023. Please find attached a copy of the payoff statement for reference. The total amount required to pay the loan in full by December 17, 2023, was $5,534.91.
  
  On January 3,****, *** deducted $87.97 from the escrow account and issued payment towards a lender-placed insurance policy. On January 9, ****, *** deducted $254.20 from the escrow account and issued payment towards the property taxes due.
  
  However, we then were able to locate the record of your check ending in **** in the amount of $5,454.42, which is dated December 1, 2023.
  
  An updated payoff quote was completed on January 30, ****. Please find attached a copy of the payoff statement for reference. The total amount required to pay the loan in full by February 10, ****, was $5,905.36.
  
  We requested cancellation of the lender-placed insurance and received an insurance refund in the amount of $87.97 which was credited to the escrow account on February ******.
  
  On February 2,****, *** applied the funds in the amount of $5,454.42 to the loan with an effective date of December 8, 2023, providing the account with an additional credit. *** credited the account an additional $288.48, to cover the interest charges and escrow advance amount. We combined the credit of $288.48 with the payment of $5,454.42 and the total of $5,742.90 was applied paying off the loan in full on February 2, ****. Please find attached a copy of the Fay Servicing Account History.
  
  We are pleased to confirm that your mortgage loan has been paid in full. You no longer have any obligation, financial or otherwise, under this loan. We will no longer make payments toward your taxes and/or insurance, so please contact your taxing authority and insurance company to advise them to send bills directly to you in the future. We sincerely appreciate the opportunity we have had to service your loan.
  
  After December 31st, you will receive a statement for this loan which will reflect the amount of interest and taxes paid this year. Obtaining the actual release or satisfaction of the recorded mortgage/deed of trust is a somewhat time-consuming matter. We would like to assure you that we are taking every necessary step to ensure that your mortgage is promptly released or satisfied.
  
  Fays records reflect that there were credit corrections required and please be assured *** has taken the necessary action on the account to update any inaccurate delinquencies as well as reflect the account status as paid in full. Please know that it may take the credit reporting agencies up to ninety (90) days for the submitted corrections to reflect on the account. As such, we invite you to use this letter as evidence of the submitted corrections if the need arises.
  
  We sincerely regret any inconvenience this matter may have caused you. If you have further concerns regarding this experience, please contact us at the telephone numbers listed below. We value your relationship and look forward to servicing any of your upcoming financial needs as well as working to ensure the level of service you expect from us is met in the future.
  
  If you have any questions, please contact your Account Manager, ************************* at *************. 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:01/12/2024

  Type:Product 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 took over my mortgage. They will not talk to me until I send over a Letter of Acceptance. My attorney emailed it to them three times and I emailed it to them once. The email is ******************************************* No one can explain to me why it is not being received. Im running out of time to able to speak with them so they do not foreclose on my home. How can you be expected to save your home when they give you a bogus email to get the information to them. If you read reviews you will find that this is huge complaint. They mysteriously dont receive the information you send them!

  Business Response

  Date: 01/16/2024

  January 16, ****
  
  ***************************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000366680
                                  Property Address:                           ****************************************************************
                                  BBB Complaint Number:               21125442
  
  Dear ***************************************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on January 12, ****, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state you are unable to communicate regarding the account because *** claims to have not received the Letter of Authorization (***), despite you and your attorney submitting the *** via e-mail multiple times.
  
  After our investigation, we concluded that *** acquired the loan for servicing on December 1, 2023. The loan records show that one or more borrowers associated with the account were the debtors under the Chapter 13 Bankruptcy case number 23-40854 filed on March 13, 2023. On December 13, 2023, *** was verbally informed by telephone that you were being represented by an attorney and the *** Account Manager explained that we would resume communication once we have obtained a *** from your attorney. You called in to discuss concerns about the amount due listed on a notice received and the *** Account Manager explained that we needed a *** granting us permission to communicate with you about the account. We understand that you then made multiple attempts to provide the *** and e-mails were submitted directly to ********************* e-mail address provided at ******************************************* While we empathize with your concerns, we were unable to confirm receipt of any emails prior to January 9, ****. Our records show the attached *** was uploaded to the account on January 9, ****. As such, *** has updated the account to reflect the authorization received to communicate with you moving forward. Please note that *** sent two mortgage statements dated December 13, 2023, and January 10, ****, which we have attached for reference.*** will continue to send you a monthly statement each month in which the amount due is based on the original terms of the mortgage. The mortgage statement you receive each month is for informational purposes only as indicated in the middle of the statement labeled Bankruptcy Messages. Please see the below message listed on your statements.
  
  
  
  You may opt out of receiving monthly mortgage statements by sending a letter to the following address:
  
  Fay Servicing
  Attn:Customer ****************** *** Registered Agent Solutions, Inc.
  P.O.Box 815548
  **************, ** 75381
  
  This address listed above will be the same address at which you would request statements to begin again. We apologize for any confusion that these monthly statements may have caused. In addition, please note that **************** is of the utmost importance to us, and we regret you did not receive the excellent level of service which our firm is known for. Please be assured that this is not typical of our operating procedures, and we apologize for any inconvenience and/or frustration that this matter has caused.
  
  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 (4)

• Initial Complaint

  Date:12/29/2023

  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 HELOC was transferred to Fay Servicing from ****************** has provided NO information about what my statement and payment due represent.They are difficult to get in contact with and arrogant and aggressive on the phone. No customer service.

  Business Response

  Date: 01/03/2024

  Please see the attached response.

• Initial Complaint

  Date:12/28/2023

  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.

  November 2023..**************************************************** was sold.Mansfield Street LLC /*******************************Has 2 loans with the loan serving company.The loan in question is ************************************************************************************I called on November 30th, **** and spoke with the representative *****. At the beginning of the phone call. I told ***** that I need to pay on two loans. I gave him both loan numbers, When I gave him the second loan number. He told me that he was not able to find it. I then gave him the full property address and additional information. Again he was not able to find it. Since we just sold ****************************, he thought this dud not exsist because the a property being sold. I trusted the Representative who look up the property/loan several different ways. Today I called to get a pay off statement, I spoke to ****. She told me the ***** is new and that is is my fault, that I assume the loan was paid off. She over talked me and told nothing will be done about and the loan is 55 days in default. This company charge thousands of dollars in default and I am aware of this. She told me that we are responsible.I called and tried to pay this loan on November 30, 2023, phone recorded. I was instructed that the loan didn't exist, yes I believe it because we just sold a property. I need help, we are small business owners and trusted this company to tell us our loan and pay. We need help. Fay servicing us telling me he is a new employee but blaming me/my husband for in correct communication. I need to pay the payment the was due on November 30th 2023 as is. Not with thousands of dollars in default. Please help. ***************************/Property Manager/owner/wife ******************************/owner ********* Street LLC..These loans are on our properties. We been in business with *************** for years never had a miscommunication that lead to this. Please help *************************** ************ ****************************** ************

  Business Response

  Date: 01/05/2024

  January 5, ****
  
  13 **************** LLC
  ***************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            **********
                                  Property Address:                           *********************************************************
                                  BBB Complaint Number:               21062589
  
  Dear ***************************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on December 27, 2023, regarding the above-referenced business purpose loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  You express dissatisfaction with the **************** received and you assert the default status of the account is a *** error as you were under the impression that the loan was paid in full because the representative was unable to pull up the correct account information. You state that you would like to make a payment for the note rate payment amount to satisfy the contractual installment due for November 1, 2023.
  
  We sincerely regret that you feel your personal experience *** have fallen short, and we are going to address what has occurred to ensure the same experiences you encountered are prevented moving forward. We regret what transpired and sincerely apologize for the inconvenience you have experienced.
  
  Our records show you called in on November 30, 2023, to inquire on the status of loan number ********** and the Note and Mortgage attached confirms there are two different properties associated with that loan. The properties are ***************************************************************** and *********************************************************  Previously on November 29, 2023,*** received a partial payoff that was applied to the loan ending in **** and we released the property located at **************************. Please find attached a copy of the recorded lien release for reference.
  
  When you called in on November 30, 2023, to inquire on the status of the loan ending in **** and the total amount owed, the *** representative provided the contractual payment amount due for November 1, 2023. You then inquired about a separate loan; however, the representative was unable to access the account with the information you provided. Based on the call recording, you provided an account number of **********.
  
  
  We can confirm the account you were attempting to inquire about was loan number ********** which based on the attached Note and Mortgage is associated with the property located at *****************************************************************.
  
  Please note that loan payments for the account ending in **** are due on the 1st of each month and the account has a ten (10) day grace ******* Pursuant to the loans Commercial Promissory Note, after the occurrence of an Event of Default, interest will accrue at the lesser of (i) 23% per annum or (ii) the Maximum Rate allowed by applicable law and interest will continue to accrue at the default rate after judgment until the Note in paid in full. Because the contractual installment due for November 1, 2023, was not received in time,the loan was placed into a status of default and default interest accrued. *** spoke with you during an outbound call placed on November 28, 2023, to remind you of the payment that was due for this account.
  
  While we empathize with your concerns, we are limited in our abilities to assist as the loan was already in a status of default at the time of the call that occurred on November 30, 2023, and the default status of the loan is not a *** error. However, *** has acted on the account to assist with a resolution.We contacted the investor of the loan to request deferral of the default interest and the investor approved the request. The Account Manager informed you over the telephone on January 3, ****, that we received approval to defer the default interest and provided the amount necessary to reinstate the loan.The loan is past due for the three payments from November 1, 2023, through January 1, ****. Please find attached a copy of the Fay Servicing Account History for reference.
  
  If you have any questions, please contact the Account Manager, ********************************* at *************. 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 (6)

• Initial Complaint

  Date:12/21/2023

  Type:Service or Repair 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.

  Fay servicing increased my rate in September when I have the note which details the increase that supposed to happen in January. I have been paying the higher interest prematurely. Now they sent me a notice saying that they are increasing the rate again in January. I have asked them to correct for weeks and called multiple times. Nothing has been done just multiple investigations. I even went thru the loan document with the person on the phone and saw exactly what I was talking about. I would like to be refunded the difference in increased interest payments.

  Business Response

  Date: 12/27/2023

  Please see the attached response.

  Customer Answer

  Date: 12/28/2023

   
  Complaint: 21042445
  
  I am rejecting this response because: I am awaiting the payment to be adjusted properly and to have my account refunded for the error.
  
  Sincerely,
  
  *****************

  Business Response

  Date: 12/29/2023

  Please see the attached response.

  Customer Answer

  Date: 12/29/2023

   
  Complaint: 21042445
  
  I am rejecting this response because: I need a breakdown of how fay servicing came up with the return balance. 
  
  Sincerely,
  
  *****************

  Customer Answer

  Date: 02/01/2024

   
  Complaint: 21042445
  
  I am rejecting this response because:

  The interest rate was prematurely adjusted on the loan. I filed a previous complaint with BBB fay servicing determined the amount owed to me about a month ago and still have received no payment and customer service is acting like they have no idea how to get my funds.
  
  Sincerely,
  
  *****************

  Business Response

  Date: 02/08/2024

  February 8, ****
  
  
  LDC Realty LLC
  *******************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000251043
                                  Property Address:                           *************************************************************
                                  BBB Complaint Number:               21042445
  
  Dear *******************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on February 1, ****, 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 Fays response because the interest rate was prematurely adjusted on the loan. You state that upon filing your complaint with the BBB, *** determined the amount you were owed because of the mistake; however, you still have not received the refund.
  
  After further review of the loan, we determined that *** deducted escrow funds for the overpayment of interest in the amount of $528.94, which was issued to you in the form of an escrow refund check on February 2, ****.  Please allow up to 15 business days for **** delivery. Please advise if your check has not been received within this timeframe.
  
  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

  Customer Answer

  Date: 02/09/2024

   
  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. We have just received the check. Thank you
  
  Sincerely,
  
  *****************

  Customer Answer

  Date: 02/12/2024

  The interest rate is 5.13% - loan docs say *****% I ran this through the amortization calc. It is off. Asking for an adjustment to fix the principal balance and also to adjust this going forward to fix the error

  Business Response

  Date: 02/21/2024

  February 21, 2024
  
  LDC Realty LLC
  *******************
  Sent via BBB Portal
  
  RE:                          Account Number:                            **********
                                                                                                  **********
                                  Property Address:                           *************************************************************
                                                                                                  2004 ****************, ************, ** 19134
                                  BBB Complaint Number:               ********
  
  Dear *******************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on February 12, 2024, regarding your above-referenced business purpose loan(s). Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that the interest rate is 5.13%; however, the loan documents reflect an interest rate of *****%, and as such, you request an adjustment to fix the principal balance and adjust the interest rate in our system going forward.
  
  After completing an investigation, we determined that it was on December 21, 2023,when you initially filed a complaint under BBB Complaint Number ********. In the complaint, you stated that *** increased your interest rate in September 2023, despite the interest rate scheduled to change in January 2024. As such,you were paying a higher interest rate earlier than anticipated and you state that *** was attempting to increase the interest rate for a second time in January 2024. Despite multiple attempts to have this resolved, you never received an answer and requested a refund for the difference in the interest paid. It is important to note however that the loan document attached to complaint number ******** is for loan number **********.
  
  *** provided its response to the complaint on December 27, 2023, which we have attached for reference. We acknowledged that the interest rate for loan number ********** was adjusted prematurely, and additional research was needed.
  
  We received and reviewed the complaint that you submitted to the BBB portal on December 28,2023. In your complaint, you stated you were rejecting Fays response as you were waiting for the payment amount to be properly adjusted and the additional funds refunded to you.
  
  *** provided its response to the complaint on December 29, 2023, which we have attached for reference. We confirmed the account was updated accordingly and it was determined that there was an overpayment of interest in the amount of $528.94.We explained that a check for this amount was being sent to the mailing address on file and to allow time for the check to be generated and standard mail time to receive.
  
  We received and reviewed the complaint that you submitted to the BBB portal on February 1,2024. In your complaint, you stated you were rejecting Fays response because the interest rate was prematurely adjusted on the loan. You state that upon filing your complaint with the BBB, *** determined the amount you were owed because of the mistake; however, you never received the refund.
  
  *** provided its response to the complaint on February 8, 2024, which we have attached for reference. We determined that *** deducted escrow funds for the overpayment of interest in the amount of $528.94,which was issued to you in the form of an escrow refund check on February 2,2024. It was advised for you to allow up to fifteen (15) business days for **** delivery and to contact us if your check has not been received within this timeframe. Please advise if the check has not been received at this time. Our records show that loan number ********** has been paid in full and the interest rate previously in effect was 8.435%
  
  Please note, below are four (4) remaining loans being serviced by *** with outstanding principal balances:
  
  0000323394
  **********
  0004000951
  0050005201
  
  In review of the loan documents associated with loan number **********, the attached Promissory Note reflects an interest rate of *****%; however, the interest rate in our system is 5.13%. As such, *** has placed a request with the appropriate team to further investigate the interest rate for loan number **********. We will provide an updated response within fifteen (15) business days to your mailing address on file regarding any potential error that occurred. We regret any inconvenience and/or frustration that this matter may have caused.
  
  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 (4)

  Customer Answer

  Date: 02/22/2024

   
  Complaint: 21042445
  
  I am rejecting this response because:

  The issue with 1026 S 60th St is resolved. We have received the check for the balance due to the premature interest rate change.

  The only pending issue we are waiting on is the 2004 E Orleans St Amortization/ Interest rate issue to be looked into and resolved.

  
  
  Sincerely,
  
  *****************

  Business Response

  Date: 03/01/2024

  March 1, 2024
  
  LDC Realty III LLC
  *****************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000317888
                                  Property Address:                           2004 ****************, ************, ** 19134
                                  BBB Complaint Number:               21042445
  
  ****************************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on February 22, 2024, 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 are rejecting our previous response because there is an unresolved amortization and interest rate issue.
  
  After completing an investigation, we discovered that a potential error has occurred regarding the interest rate adjustment, as the attached Promissory Note reflects an interest rate of *****%; however, the interest rate in our system is 5.13%. We explained in our previous response that *** has placed a request with the appropriate team to further investigate the interest rate and determine the next steps to be taken for an amicable resolution. Please be assured that this experience is important to us, and we will continue to monitor the account to ensure this matter is fully resolved. *** will provide an updated response within fifteen (15) business days to your mailing address on file regarding any potential error that has occurred. Please know that **************** is of the utmost importance to us, and we regret you did not receive the excellent level of service which our firm is known for. Please be assured that this is not typical of our operating procedures, and we apologize for the inconvenience and frustration that this matter has caused.
  
  If you have further concerns regarding this experience, please contact us at the telephone number listed below. We value your relationship and look forward to servicing any of your upcoming financial needs as well as working to ensure the level of service you expect from us is met in the future.
  
  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)

  Customer Answer

  Date: 03/01/2024

   
  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. I will await their response within 15 business days and will reopen if they do not comply with their defined resolution.
  
  Sincerely,
  
  *****************

• Initial Complaint

  Date:12/13/2023

  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 recently took over my mortgage. It took several weeks for them to contact me and give me the account number and other necessary information to make payments. Then I tried to make two payments and both were rejected by Fay Servicing. I called to talk to ***** and she said that my payment wasn't due until January, so I couldn't prepay my mortgage. I have been able to prepay on the past two service providers that managed my account. There was no good reason for the payments to be denied. My loan documents allow for prepayment. It seems that *** is trying to push everything so I go into default.

  Business Response

  Date: 12/14/2023

  Please see the attached response.

  Customer Answer

  Date: 12/14/2023

   
  Complaint: 20998337
  
  I am rejecting this response because:

  Whereas I appreciate what you are saying, a few facts  1) My former mortgage servicing company did not provide an account number when they notified me of a change in provider.  2) The second call I received from ***, I did talk to someone who refused to provide me with the account number.  3)  Usually a welcome packet should be mailed when any change occurs.  This did not happen until I talked to *** on the 2nd phone call that they made to me.  3)  Even though *** sent the welcome packet on Nov 20, I did not receive until December.  4)  2 payments were refused by ***, see original attachments.  5) I was told by your representative that I could not prepay, which is why the payments were refused.  5) I had to pay my mortgage using your site, not as I have always done, using my bank's on-line banking function.

   

  Yes, I have found a work around to pay my debts, but it was through no help of ***.  In fact, I still maintain, that *** has made this transition difficult on purpose and a flimsy apology should not and does not cut it.

  
  Sincerely,
  
  *********************************

  Business Response

  Date: 12/20/2023

  Please see the attached response.

  Customer Answer

  Date: 12/20/2023

   
  Complaint: 20998337
  
  I am rejecting this response because:  Once again, when I called *** regarding the rejection of the funds from ************ The representative that I talked to told me that the funds were rejected due to the next payment not being due until Jan 1st.  Also, please note that the Welcome letter was not received Until the end of November.  Well over a week from when you said it was sent.  

  My concern is that you don't seem to be respecting what I am saying, nor are you willing to investigate to see why the *********** payments were rejected on your end.  This is not about future payments or past issues.  This is simply about *** rejected a valid payment twice, with no explanation.  This is also about your customer service reps making it my problem that you did not accept a valid payment, and brushing me off with some insane reason.  

  I have not seen an apology from you.  I have not received an explanation on why my payment was rejected.  There is nothing else from *********** other than the 2 rejection letters submitted.  The funds went out of my account, then they were credited back.  Don't make this about me.  This is about you.

   

  I await a reasonable answer as to why the funds were rejected on your end.  I await an apology.  I await a long term solution. 

  
  Sincerely,
  
  *********************************