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.

close

Find a Location

Fay Servicing LLC has 7 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

BBB accredited

Near

Country

USUnited States

Please enter a valid location.

Filter

• 

  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

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

• 

  Fay Servicing

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

• 

  Fay Servicing

  P.O. Box 619063 Dallas, TX 75261

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:04/17/2023

  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.

  Feb and March 2023(Letters and Emails Attached)In the attached documents will reveal the constant negligence of ***************. I am in a payment plan for $4,575 dollars a month. Fay Servicing has took away my online access so that I CANNOT SEE anything pertaining to my account. While I do understand the payment option has been stopped until plan is over with, there is no excuse for me not being able see information relevant to my account.The responses to the letters they mailed me do not make any sense. I have provided a print screen to them not once, not twice, not three times, not four times, but five times. They say the same stupid thing over and over again. Stating that it works and I can download statements, I CANNOT DO ANYTHING. ALL THESE IDIOTS HAVE TO DO IS LOOK AT PRINT SCREEN WHERE IT STATES CALL THE ************. I told the account representation over and over again, by phone and email if I can't talk to an IT person, why don't she try and assist with this. I want my account data back on the screen PERIOD!!!! This is illegal.

  Business Response

  Date: 04/24/2023

  Please see the attached response.

• Initial Complaint

  Date:04/07/2023

  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.

  Rocket Mortgage sold my loan to *** and they upped my fixed loan 400 dollars. I have tried to no avail to resolve. They are stealing my money and I need help. I read relieves on ****** and 160 people are going through the same thing.

  Business Response

  Date: 04/14/2023

  April 14, 2023
  
  *****************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000349022
                                  Property Address:                           **** *********, *******, ** 60617
                                  BBB Complaint Number:               19908584
  
  Dear *****************************:
  
  Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 7, 2023,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 loan was transferred to *** from Rocket Mortgage, and your fixed loan payments were increased in excess of $400.00. You state that you have attempted to resolve the matter to no avail and your funds are being misappropriated.
  
  After further review of the loan, we determined that the loan transferred to us from Rocket Mortgage with an escrow shortage, which has impacted the current monthly payment amount. Fays records reflect you recently provided your Account Manager with a copy of the most recent escrow analysis statement received from Rocket Mortgage dated September 7, 2022. The escrow analysis statement reflects an existing escrow shortage amount of $2,456.25 which was spread out over fifty-four (54) months.
  
  *** acquired the loan for servicing on November 1, 2022, due for the December 1, 2022 payment. The most recent escrow analysis from Rocket Mortgage reflects the loans monthly payment amount being $1,187.52 at the time of the loan being transferred. The loan was boarded for servicing on November 7, 2022, and Fays records reflect the attached Welcome Package being sent to you via mail on November 11, 2022. Fays records reflect we did not receive a payment during the month of November 2022. We attempted to reach you via telephone on November 28, 2022; however, we were unable to make contact with you. On December 16, 2022, we deducted $2,341.71 from the escrow account and issued payment towards the property taxes due at the time. We attempted to reach you via telephone on December 20, 2022; however, we were unable to make contact with you.
  
  Upon acquisition of your mortgage loan,we completed an initial new-loan boarding escrow analysis on December 23, 2022.Please find attached a copy of the escrow analysis statement for reference. The analysis completed reflects an increase in the monthly mortgage payment from $1,187.52 to $1,498.06 effective with the February 1, 2023 payment. At the time of the analysis, the loan had an escrow balance of $159.99, with a required escrow cushion of $3,676.49, resulting in an escrow shortage amount of $3,516.50. It is important to note that *** typically spreads the total escrow shortage amount out over twelve (12) months, providing borrowers the option to request in writing that the shortage amount be spread out over a longer period of time if there is a hardship impacting the ability to afford the payment. We attempted to reach you via telephone on December 27, 2022; however, we were unable to make contact with you. Fays records reflect we did not receive a payment during the month of December 2022. We attempted to reach you via telephone on January 4, 2023; however, we were unable to make contact with you.
  
  We initially spoke with you during in an inbound call received on January 7, 2023. You indicated you were unaware of the loan being transferred to us as you were making payments with the prior servicer, Rocket Mortgage and you only recently received their Notice of Servicing Transfer. The representative explained that *** acquired the loan for servicing in November of 2022. Fays records reflect the loan being due for the December 1, 2022 payment at the time, therefore the representative suggested following-up with the prior servicer pertaining to any missing or unapplied payments. On January 10, 2023, we received an inbound call from you to inquire on further information relating to the servicing transfer, as well as instructions for how to mail in payment. The representative advised of our payment processing addresses and explained that late fees are assessed to the account after the fifteen (15) day grace ******* Fays records reflect the initial late fee of $33.99 being assessed to the account on January 16, 2023, due to the January 1, 2023 payment not being received within the grace ******* We have attached a copy of the Fay Servicing Fee History for reference. On January 18,2023, we received the payment in the amount of $2,375.04, which was applied towards the contractual installments due from December 1, 2022 through January 1, 2023. We have attached a copy of the Fay Servicing Account History for reference.
  
  The new monthly payment amount of $1,498.06 became effective with the February 1, 2023 payment. We received the next payment in the amount of $594.00 on February 7, 2023, which was placed into the suspense account. Fays records reflect the late fee of $33.99 being assessed to the account on February 16, 2023, due to the full contractual February 1,2023 payment not being received within the grace ******* We received the next payment in the amount of $594.00 on February 23, 2023, which was placed into the suspense account. This resulted in a suspense balance of $1,188.00 at the time. On March 9, 2023, we deducted $2,329.20 from the escrow account and issued payment towards the property taxes due at the time. You notified us during an inbound call received on March 13, 2023 that you were unable to afford the monthly payment amount due for February 1, 2023, and you inquired as to the origins of the escrow shortage. **** records reflect the Account Manager discussing the escrow shortage and account status with you in further detail at the time. Because you indicated that you were unable to afford the payment, the Account Manager initiated the Loss Mitigation Application process,and a blank copy of the Borrower Assistance Form (BAF) was sent to you via mail. In addition, the Account Manager requested for the total escrow shortage amount to be spread out over the maximum months allowed to reduce the payment amount.
  
  We received the next payment in the amount of $594.00 on March 13, 2023, which was placed into the suspense account. This resulted in the suspense balance of $1,782.00. On March 13, 2023,we withdrew the suspense funds of $1,498.06 and applied them towards the February 1, 2023 payment, with an effective date of March 10, 2023. This resulted in the suspense balance of $283.94. Fays records reflect the late fee of $33.99 being assessed to the account on March 16, 2023, due to the full contractual March 1, 2023 payment not being received within the grace ******* We completed an updated escrow analysis on March 16, 2023, which we have attached for reference. The analysis completed reflects a decrease in the monthly mortgage payment from $1,498.06 to $1,338.97 effective with the March 1, 2023 payment. At the time of the analysis, the loan had an escrow balance of -$1,350.96, with a required escrow cushion of $2,163.19, resulting in an escrow shortage amount of $3,514.15. The total shortage amount was spread out over thirty-six (36) months, resulting in additional $97.62 being added to the monthly payment amount.
  
  Your Account Manager spoke with you on March 22, 2023, and on March 28, 2023, during inbound calls received. The Account Manager explained the updated escrow analysis being recently completed spreading the total escrow shortage amount out over thirty-six (36) months to reduce the total payment amount; however, you expressed further concerns in relation to the existence of the escrow shortage as you believe that escrow funds for taxes were misapplied during the servicing transfer process. We have attached a copy of the Rocket Mortgage payment history for reference. We are unable to substantiate any funds being misapplied as the Rocket Mortgage payment history reflects the loan being transferred to us with an escrow balance of $1,486.28, which is the starting escrow balance amount listed in the Fay Servicing Account History. You stated that the payment of $1,498.06 which was applied towards the contractual installment due for February 1, 2023,should have been applied towards the escrow shortage only. It is important to note however, reversing these funds and applying them towards the escrow balance of your loan will result in the loan being more than thirty (30) days past due at this time.
  
  We completed the most recent escrow analysis on the account on April 5, 2023. Please find attached a copy of the escrow analysis statement for reference. The analysis completed reflects the new monthly payment amount of $1,341.84 effective with the June 1, 2023 payment. At the time of the analysis, the loan had an escrow balance of $531.49, with a required escrow cushion of $3,847.81, resulting in an escrow shortage amount of $3,316.32. You spoke with your Account Manager during an inbound call on April 12, 2023. The Account Manager explained that the current escrow shortage is being spread out over thirty-three (33) months, and that because you continued to make the prior monthly payment amount, this caused the account to become past due.
  
  As of the date of this letter, the loan is due for the April 1, 2023 payment. Please note, there is currently $594.00 being held in the suspense account. Please be advised, *** sent the Acknowledgement of an Incomplete Loss Mitigation Application letter dated March 14, 2023, which we have attached for reference. The letter was sent in relation to the discussion held between you and your Account Manager on March 13, 2023.Please understand that while your discussion with your Account Manager initiated the application process, your Loss Mitigation Application is currently considered incomplete. In order to be evaluated for all loss mitigation options available to you, you must submit a complete Loss Mitigation Application which consists of all of the documentation listed for your circumstance. At this time, we have not received your Loss Mitigation Application; however, a blank copy of the Borrower Assistance Form (BAF) is included in our letter. If you are still interested in loss mitigation assistance, please complete the form and return to us at your earliest convenience.
  
  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 (9)

• Initial Complaint

  Date:03/28/2023

  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.

  This was a mortgage sale effective 1/18/23. The account with Fay Servicing has been incorrect from the start. The previous mortgager received the timely payment for January 3, 23 and did not transfer the payment in the sale. Fay Servicing is presently requiring payment again from us. Multiple calls have been placed to Fay Servicing with little assistance in correction to this account. One phone call did result in a 3 way call between Fay Servicing, **************** and my self. **************** stating Fay Servicing needing to do a servicer adjustment form. Multiple requests to speak to a supervisor with 1 missed call. Return calls with request for follow up ignored.

  Business Response

  Date: 04/05/2023

  April 5, 2023
  
  *****************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000350422
                                  Property Address:                           **** BELAIR *** *************** ** 78654
                                  BBB Complaint Number:               19864000
  
  Dear *****************************:
  
  Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 28, 2023,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 previous servicer, ***************** received a timely payment for the contractual installment due January 7, 2023; however, the payment was not transferred to us.
  

  After further review of the loan, we have determined that the records transferred to us from **************** most recently reflect a payment in the amount of $764.06 being applied to the December 7, 2022 payment on December 30, 2022. Please find attached a copy of the **************** Payment History for reference. *** acquired the loan for servicing on January 18, 2023, due for the January 7, 2023 payment. We received a payment in the amount of $764.06 on February 13, 2023 which was applied to the January 7, 2023 payment. We received a payment in the amount of $764.06 on March 13, 2023 which was applied to the February 7, 2023 payment.
  

  As of the date of this letter, the loan is due for the March 7, 2023 payment. We have attached a copy of the Fay Servicing Account History for reference. If you believe there is a missing payment, we request for you to provide front and back copies of the cashed checks in question, bank statements, and/or wire information in order for us to further investigate.However, at this time it is our understanding that all payments are accounted for.

  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: 04/05/2023

   
  Complaint: 19864000
  
  I am rejecting this response because: I provided Fay Servicing with the **************** full history transaction detail from the beginning of the loan transfer to them 6/1/22, I also provided Fay Servicing with a copy of the payment history from our bank account, showing the payment history and the December 2022 payment was made. 

  I have made numerous calls to Fay Servicing and get no assistance in the correction of this account. 
  
  Sincerely,
  
  *****************************

  Business Response

  Date: 04/11/2023

  April 11, 2023
  
  *****************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000350422
                                  Property Address:                           **** BELAIR *** *************** ** 78654
                                  BBB Complaint Number:               19864000
  
  Dear *****************************:
  
  Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 5, 2023,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 as you provided a copy of the ******* history from your financial institution reflecting the December 2022 ******* being made.
  
  As stated in our previous response, Mr.******* records reflect the most recent ******* received of $764.06 being applied to the December 7, 2022 ******* on December 30, 2022. You initially stated that **************** received the timely ******* for January 3, 2023;however, the ******* did not transfer over when the loan was acquired by *******Upon further review of the loan, we determined that this is not the case and that the ******* in question was applied to your loan prior to the loan being transferred to us.
  
  To further support our determination of this matter, we have attached a copy of the bank records you provided us to evidence *******s withdrawn from your financial institution. In addition, we have attached a copy of the **************** ******* history for reference. Please note, Mr. ******* ******* history reflects the loan being next due for the January 7, 2023 ******* at the time of the loan being transferred.
  
  The last ******* withdrawn from your bank account on January 3, 2023 in the amount of $764.06, reflects in Mr.******* ******* history as being received on December 30, 2022 in the amount of $764.06. This ******* satisfied the contractual installment due for December 7, 2022. The prior ******* withdrawn from your bank account on December 2, 2022 in the amount of $663.19, reflects in Mr. ******* ******* history as being received on November 30, 2022 in the amount of $663.19. This ******* satisfied the contractual installment due for November 7, 2022. The prior ******* withdrawn from your bank account on November 1, 2022 in the amount of $663.19,reflects in Mr. ******* ******* history as being received on October 31, 2022 in the amount of $663.19. This ******* satisfied the contractual installment due for October 7, 2022. The prior ******* withdrawn from your bank account on October 3, 2022 in the amount of $663.19, reflects in Mr. ******* ******* history as being received on September 30, 2022 in the amount of $663.19. This ******* satisfied the contractual installment due for September 7, 2022. The prior ******* withdrawn from your bank account on September 1, 2022 in the amount of $663.19, reflects in Mr. ******* ******* history as being received on August 31, 2022 in the amount of $663.19. This ******* satisfied the contractual installment due for August 7, 2022. The prior ******* withdrawn from your bank account on August 1, 2022 in the amount of $663.19, reflects in Mr. ******* ******* history as being received on July 31, 2022 in the amount of $663.19. This ******* satisfied the contractual installment due for July 7,2022. The initial ******* due to **************** is the June 7, 2022 ******* in the amount of $663.19, which reflects as being received and applied to your account on June 30, 2022.
  
  As stated in our previous response, *** acquired the loan for servicing on January 18, 2023, due for the January 7,2023 *******. We received a ******* in the amount of $764.06 on February 13,2023, which was applied to the January 7, 2023 *******. We received a ******* in the amount of $764.06 on March 13, 2023, which was applied to the February 7, 2023 *******.
  
  As of the date of this letter, the loan is due for the March 7, 2023 *******. We have attached a copy of the Fay Servicing Account History for reference. If you believe there is a missing *******, we request for you to provide front and back copies of the cashed checks in question, bank statements, and/or wire information in order for us to further investigate. However, at this time it is our understanding that all *******s are accounted for.
  
  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:03/28/2023

  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.

  A letter dated 26 January 2023 was sent to me indicating that the servicing of my loan #********** was being transfered to a new servicing provider BNY Mellon. In this letter it stated "Fay Servicing LLC will stop acceptting payments received form you after 2/28/2023." It also states "If monthly payments are automatically deducted from your bank account, this service will continue after your loan transfers to your new servicer."On 1 March 2023 Fay Servicing deducted from my bank account $3806.38.On March 10, 2023 I was informed by the new loan servicer BNY Mellon that they never received my March payment. I then made an additional payment to BNY Mellon.I then reached out to Fay Servicing LLC to inquire what they did with the funds they withdrew from my checking account on 1 March. I spoke to ********************* and he infomed me they had no record of pulling the money out of my checking account. He informed me he was raising a case with the accounting team and he needed a copy of my bank statement which I provided. I was informed it may take a week for them to look into it.On March 16 I called Fay Servicing and spoke to *****. He had no update and told me that it could take up to 14 days to look into it.On March 23 I called Fay Servicing and spoke to *****. He had no update and told me it could take 60 days to look into my issue. I requested to speak to a manager and was told one would call me back shortly. After a couple hours I called back and was told that a supervisor would call me back before the end of the day. No call came.On March 27 I called Fay Servicing and spoke to *******. He had no update, when I asked to speak to a manger he said he was discussing with a supervisor and they were looking into it. I was promised a supervisor would call me with answers by the end of the day. No call came.At this point *** has taken ~$3800 from my bank account, can't account for what they did with the money and will not even acknowledge that they took the money.

  Business Response

  Date: 04/06/2023

  April 6, 2023
  
  *********************
  **** *** *** ******
  
  ***                          ******* *******                            **********
                                  ******** ********                           ****************************************************************
                                  *** ********* *******               ********
  
  Dear *********************:
  
  Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 28, 2023,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 a payment was drafted from your account after the loan was service transferred.
  According to our records, the above-referenced loan was service transferred on March 1, 2023, due for the March 1, 2023 payment. *** received a payment in the amount of $3,806.38 on March 1, 2023, drafted via Automatic Clearing House (ACH) payment. We have confirmed that the funds in the amount of $3,806.38 were sent via a bulk wire check on March 3, 2023 to your new servicer. In addition, on March 30, 2023, we contacted you by phone and confirmed that the payment was forwarded to your new servicer on March 3,2023.
  Please note, **************** is of the utmost importance to us and we regret you did not receive the excellent level of service for 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.
  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,
  
  *** ********** *** 

  Customer Answer

  Date: 04/06/2023

  
  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:03/28/2023

  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.

  I apologize to reach out to you in this way but I have tried resolving this for the past two weeks: Constructive Loan finance a project with 2 liens: 1 Lien was to purchase the home. 2nd Lien was to set funds outside for reimbursement if needed, for work to be done on the property. The work was completed and *** was paid in full for the monies owed. However, because the 2nd lien was never used to refund for work to be done, an account number was never generated as it has a zero balance. Fay Servicing LLC doesn't know how to provide us with a Satisfaction letter on behalf of Constructive loans for a credit line that was not used and continues to have a 2nd lien on a zero balance equity line. The title company is holding funds in escrow until a Satisfaction letter for the 2nd Lien with a zero balance that was never used is provided. Fay Servicing LLC has yet to provide us with the 2nd Lien Satisfaction letter. Thus, our funds for another project is being held with no support. I have tried contacting the officers of **** Servicing through Linked In and they have not responded to my inquiry. Please help!We have contractors starting on another project next week and we need our funds released as soon as possible. Time is of the essence. All the information is below along with the email threads to assist you in obtaining further clarity on this matter. Borrower: 20 LZH LLC Property Address: ********************************************** Loan Number: *********

  Business Response

  Date: 04/06/2023

  April 6, 2023
  
  *************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0370791648
                                  Property Address:                           **********************************************
                                  BBB Complaint Number:               19862093
  
  Dear *************************:
  
  Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 28, 2023,regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  In the complaint, you state that you are requesting a copy of the release of lien document as you state you have been attempting to receive the release for the past two weeks.
  Fays records reflect the above-referenced loan was paid in full on March 14, 2023 and the Release of **** was executed on March 22, 2023.  Please note, multiple inbound calls were received from ******* with ***************** Services to verify if the second lien associated with the above account would be released when the loan was paid in full. However, we advised ******* we were unable to release this information as we did not have any authorization on file. In addition, we have confirmed with our ****************** that the release of lien that was issued on March 22, 2022 will release both loans, for the original balances of $315,000.00 and $38,926.00.  We have confirmed that the Release of Lien documents were submitted for recording as of March 24, 2023,and a copy of the recorded documents will be sent to your mailing address on file once they have been received by ***. However, for your records, attached is a copy of the executed lien release and paid in full letter.
  Please note, you were approved for a rehab loan in the amount of $38,926.00 with BPL Mortgage Trust, LLC on March 11, 2022 along with a loan for $315,000.00. The rehab loan you received for $38,926.00 was to be used for work to be completed on the property.  Attached for your records are copies of the Notes for both liens.
  Customer Service is of the utmost importance to us and we regret you did not receive the excellent level of service for 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.
  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 (4)
  

• Initial Complaint

  Date:03/20/2023

  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.

  We requested a Payoff Statement for our loan with Fay Servicing, Loan #**********, on 3/2/23 as we anticipated closing on the sale of our home on 3/17/23. This is an FHA loan. On 3/9/23, ******************* called *** to inquire about the status of the Payoff Statement. The *** representative, **************, confirmed that the Payoff Statement was processed on 3/8/23 and sent via US Mail. She was then able to send a PDF copy of the Payoff Statement to Myra's ****** address. Upon reviewing the Payoff Statement on 3/9/23, we were concerned to see a line item of $44,169.84 listed as a fee for "Pro Rata MIP". This amount is grossly miscalculated. According to the US *************************** (HUD) Handbook ******, Appendix 1.0 our annual mortgage insurance premium (MIP) should not exceed 85 basis points of the Base Loan Amount, which was $228,779.00. Therefore, the annual MIP should only be approximately $1944.62 (about $162.05 per month). Based on a monthly MIP of $162.05, were very concerned to see a Pro-Rata MIP stated on our Payoff Statement in the amount of $44,169.84. At the very maximum this should only be $162.05 if the estimated close date was 3/17/23. **** contacted Fay Servicing later in the day on 3/9/23. She was again connected to *** representative, ************** who stated shed escalate the matter to the Vice President of ***. **** contacted Fay Servicing on 3/10/23 and was provided no ETA on the resolution of this matter. We are concerned that *** is trying to defraud out of us over $40,000.00 which would be over half of the proceeds of the sale of our home. This is not right. We contacted *** again on 3/16/23 and have not been provided a resolution to this matter. Rather, we have been told they are looking into it. We demand they correctly calculate the Pro-Rata MIP line item on the Payoff Statement and properly audit all the other figures to ensure the total payoff amount is 100% correct. We need this done immediately & before our close date of 3/22/23.

  Business Response

  Date: 03/21/2023

  Please see the attached response.

• Initial Complaint

  Date:03/15/2023

  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.

  This mortgage servicer disregarded my home owners insurance and placed their own **************** on my properties in the process double charging me for insurance. They also did not pay my property taxes and almost let my property to foreclosure for past due taxes. I had to pay the past due taxes and penalties to avoid foreclosure and the company has refused to refund me the penalty and tax payments. I have been trying to get this resolved since *** and ever time I call at least an hour on the phone I'm promised follow up by reps and supervisors and **** resolution times that come and go with no updates.

  Business Response

  Date: 03/24/2023

  March 24, 2023
  
  Charlton Homes Renovations LLC
  *********************
  Sent via BBB Portal
  
  RE:                          Account Number:                            **********
                                  Property Address:                           ******************************************************
                                  BBB Complaint Number:               ********
  
  Dear *********************:
  
  Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 15, 2023,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 *** did not issue property tax payments in a timely manner and the property was almost foreclosed due to past due taxes. You state that you directly paid the past due taxes including penalty and interest to avoid foreclosure; however, *** has refused to refund you for the tax payments and penalties issued out of pocket.
  
  After conducting a reasonable investigation, we have determined that the loan was not properly updated by the previous servicer, BSI ********* Services, to reflect all parcels associated with the loan. *** acquired the loan for servicing on July 15, 2022. At the time, Fays records reflect we were solely tracking the parcel associated with **********************************************************. On December 19, 2022, *** deducted $1,111.88 from the escrow account to be disbursed towards the property taxes reflecting due at the time. However, on January 16, 2023, you informed us of Lenoir County advising that three of the parcels associated with the loan are scheduled for tax sales due to the property taxes not being paid in a timely manner. As such,our tax vendor submitted a request on January 21, 2023 to verify all parcels associated with the legal description of the above-referenced mortgage loan. Upon further review of the loan, it was determined that three parcels were missing.After verification of the legal description, our tax vendor added the missing parcels on January 30, 2023. As of February 8, 2023, we updated our system of record to accurately reflect all four parcels associated with the loan.
  
  Because you informed us that you directly issued payment towards the past due taxes including penalty and interest, our tax vendor sent an email to the tax agency regarding the penalty and interest accrued. The tax agency confirmed that you paid a total of $69.83 in accrued penalty and interest, which is being reimbursed and deposited into your escrow account. Unfortunately, there was a delay in the tax agencies issuance of the tax refund at the time; however, the tax refund of $69.83 was received and properly credited to the escrow account on March 20, 2023. We have attached a copy of the Fay Servicing Tax Account History evidencing the tax refund being properly credited to the escrow account. Please note, we determined that the liability of the penalty and interest is being placed on the prior servicer due to the account not accurately reflecting all parcels associated at the time of the loan being transferred to us. Please be advised, *** has completed an updated escrow analysis on the account at this time. The analysis completed reflects an escrow surplus in the amount of $6,034.98, which is being disbursed to you in the form of an escrow refund check. In addition, the new monthly mortgage payment amount is $2,916.48. Please allow up to **** business days for the processing of the escrow refund check, which will be sent separately to the mailing address on file.
  
  In your complaint, you state that *** disregarded your preferred homeowners insurance policy and added lender-placed insurance coverage to the account.
  
  After further review of the loan, we determined that the hazard insurance lines associated with the above-referenced loan were updated on March 6, 2023. Prior to the hazard insurance lines being updated,*** sent the attached hazard insurance warning letters stating that your hazard insurance policy is expired, and we do not have evidence that you have obtained new coverage. However, our records reflect we received a copy of your 2022-2023 insurance policy on March 6, 2023. As such, we then updated the hazard insurance lines and requested for the lender-placed insurance scheduled to be ordered on your behalf to be flat cancelled immediately. At this time, our records reflect that a payment was not issued towards a lender-placed insurance policy. On March 9, 2023, *** issued three payments each in the amount of $953.00, and a single payment in the amount of $936.00 towards the preferred insurance policy. We have attached a copy of the Fay Servicing Insurance Account History evidencing the insurance payments issued on the account.
  
  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.
  As of the date of this letter, the loan is due for the June 8, 2023 payment. We have attached a copy of the Fay Servicing Account History 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 (6)

• Initial Complaint

  Date:03/15/2023

  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, LLC have given us 3 foreclosure on ours home from January until present. We pay mortgage on this home since **** and the balance of the home is still ****** dollars and they are apply the payments to escrow and interest as they claim. We try to do an modification last year in January and they denial it saying " We didn't make enough money". They add all kind of cost to the bill. We receive help and pay around ****** to them and plus we purchase flood insurance. They contact us around October telling us that we didn't have flood insurance and add extra fees to the mortgage and then they start foreclose fee and we pay the amount in December. They charge us from January of *************************************************************** possible to pay. They want around **** or they going to foreclose on our home. We reach out to ***************** on March 7 to settle the amount of the mortgage to be pay and he told us that they add flood insurance fees making the mortgage payment increase which we purchase last year in May as of March 14, 2023 we haven't receive any information from ***************** about remove the flood insurance fee. I home seem like it been payoff twice which we feel like we been rip off.

  Business Response

  Date: 03/21/2023

  March 21, 2023
  
  ******* ****
  Sent via BBB Portal
  
  RE:                          Account Number:                            **********
                                  Property Address:                           **************************************************************
                                  BBB Complaint Number:               ********
  
  Dear ******* ****:
  
  Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 15, 2023,regarding your above-referenced mortgage loan.
  
  We understand your concerns on the above-referenced account are related to the foreclosure proceedings being pursued on the loan which you state has occurred on three separate instances since January of 2022. Fays records reflect the loan was initially referred to foreclosure on January 4, 2022.Prior to the loan being referred to foreclosure, *** sent the attached Notice(s) of Default and Intent to Accelerate dated September 30, 2021. At the time, the loan was due for the May 1, 2021 payment, and all subsequent payments reflecting a total amount due of $2,633.62 to cure the default by November 19,2021. Fays records reflect the loan was brought current through June 1, 2022 on June 3, 2022. However, the account reverted into a delinquent status with the September 1, 2022 payment. *** sent the attached Notice(s) of Default and Intent to Accelerate dated November 2, 2022 reflecting a total amount due of $1,870.23 to cure the default by December 22, 2022. We received a payment in the amount of $1,621.65 on December 28, 2022 which was applied to the monthly installments from September 1, 2022 through November 1, 2022. The loan then became due for the December 1, 2022 payment; however, no further payments were applied to the account. *** sent the attached Notice(s) of Default and Intent to Accelerate dated February 1, 2023 reflecting a total amount due of $1,465.43 to cure the default by March 23, 2023. At this time, the account is presently due for the December 1, 2022 payment, and all subsequent payments for a total amount of $2,553.57. We have attached a copy of the Fay Servicing Account History for reference.
  
  In your complaint, you state that you have paid on the mortgage since ****; however, the principal balance is still approximately $63,000.00. Please be advised, the loan originated on August 31, **** in the amount of $65,447.99,with a maturity date of September 10, ****. *** acquired the loan for servicing on September 5, 2019, due for the July 1, 2019 payment, and all subsequent payments. *** sent the attached Fair Debt Collections Practices Act Validation Notice dated September 13, 2019 reflecting the total amount of the debt as $58,008.72. At this time, the loan currently has an unpaid principal balance of $59,615.78. The records provided to us by the previous servicer of your loan,Bayview, indicates that the loan was previously modified prior to *** acquiring the loan for servicing. Please find attached a copy of the Loan Modification Agreement dated December 1, 2018. The loan was most recently modified by *** pursuant to the terms of the attached Loan Modification Agreement dated March 2, 2020. The maturity date of the loan has been extended to April 1, 2060.
  
  In your complaint, you state that you applied for a loan modification last year. However, *** denied the loss mitigation application due to insufficient income. Please find the attached loss mitigation evaluation letter dated March 24, 2022. Based on the income information available to *** at the time of review, your household income is insufficient to achieve an affordable payment under the Fay Servicing Modification and Repayment Plan programs. Further, you were ineligible for a limited deferment due to the outstanding balance. Lastly, the investor of your loan does not participate in the large amount deferment program.
  Regarding non-retention options such as a short sale or deed in lieu, the value of the property exceeds the balance of the loan, meaning the property has equity. You are therefore free to sell the property for a profit as of the date of the letter.
  We understand a lack of available retention options at this time is disappointing news; however, please note you are free to reapply for loss mitigation if there has been an increase in income. Therefore, at this time, based on a careful review of the information provided to us, the loan is not eligible for an alternative to foreclosure. Our review indicates that,although there is a hardship, the loan does not qualify for any available loss mitigation options. Again, please note you may reapply if income has changed,reinstate in full, or sell the property.
  In your complaint, you indicate that you have received state assistance and paid approximately $11,000.00. Please be advised, our records reflect that state assistance payments totaling $11,461.09 were applied to the account from June 3, 2022 through August 19, 2022. We applied state assistance funds in the amount of $9,989.21 on June 3, 2022, bringing the account current through June 1, 2022. We applied state assistance funds in the amount of $383.88 towards the repayment of corporate advances on June 30, 2022. We applied state assistance funds in the amount of $540.00 on July 18, 2022 towards the July 1, ************************************************** the amount of $548.00 on August 19, 2022 towards the payments from August 1, 2022 through September 1, 2022.
  
  In your complaint, you state that you purchased flood insurance in May of 2022; however, *** contacted you in October stating that you did not have adequate flood insurance coverage. You state that the flood insurance charged by *** has rendered the payment unaffordable. Our records reflect that lender-placed flood insurance coverage was re-added to your account in October 2021. *** issued a payment in the amount of $635.00 towards the lender-placed flood insurance policy on October 28, 2021. On September 7, 2022, *** sent the first warning letter advising that the flood insurance policy has expired, and we have not received evidence that new coverage has been obtained. On October 7, 2022, *** sent the second and final notice advising that we will purchase the necessary flood insurance if evidence of coverage is not provided. Please find attached copies of the flood insurance warning letters for reference. On October 27, 2022, *** deducted $627.00 from the escrow account and issued payment towards the lender-placed flood insurance policy. *** sent the attached notice of lender-placed flood insurance coverage on November 2, 2022 advising that we paid the insurance premium due for the flood insurance required for the property; however, we subsequently received evidence of your flood insurance coverage. On November 17, 2022, *** sent the attached cancellation letter advising that we have partially cancelled the lender-placed flood insurance coverage effective April 7, 2022; however, our records indicate that there was a lapse in coverage. The premium for this lapse period is $372.00. *** sent an additional cancellation letter dated November 17, 2022, which we have attached for reference. The cancellation letter states that the flood insurance coverage we ordered on your behalf has been cancelled effective September 5, 2022. On November 18, 2022, we received the flood insurance refunds of $263.00 and $627.00 which were properly credited to the escrow account. *** completed an updated escrow analysis on November 23, 2022, which we have attached for reference. The analysis completed reflects an increase in the monthly mortgage payment from $540.55 to $636.30 effective with the January 1, 2023 payment. At the time of the analysis, the escrow balance was $555.32, with a required escrow cushion of $1,241.78, resulting in an escrow shortage of $686.46. The escrow shortage was spread out over twenty-eight (28) months, resulting in an additional $24.52 being added to the monthly payment amount.
  
  At this time, we have confirmed that no corrections to billing are warranted, and the account is not due any further refunds. If you are able to reinstate the loan, please contact your Account Manager at the contact information below to request a current reinstatement quote. Please allow 3-5 days for the reinstatement quote to be generated. If you are not able to reinstate at this time and have had a change in circumstance, you may reapply for loss mitigation assistance by filling out the enclosed Borrower Assistance Form and submitting any required supporting documentation. You may also fill out the form online at www.fayservicing.com.We encourage you to stay in contact with your Account Manager regularly throughout the application process. You will be fully evaluated for all available assistance options within thirty (30) days of *** receiving a complete application.
  
  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 (15)

• Initial Complaint

  Date:03/07/2023

  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.

  NO COMMUNICATION FROM ************** IN THREE WEEKS. I WANT TO BUY OUT MY MORTGAGE . BUT AS I SAID . NO COMMUNICATION FROM THEM . I SENT NUMEROUS EMAIL TO THEM BUT NO REPLIES !! THEY THREE WEEKS AGO SENT ME A PAYOFF FIGURE WHICH WAS INCORRECT. ONCE I QUESTIONED IT THEY CEASED TO RESPOND TO MY EMAILS. PLEASE CALL ME AT ************ AND I CAN GIVE YOU MORE INFO. ALSO THEY HAVE OVER CHARGED ME NUMEROUS TIME.

  Business Response

  Date: 03/08/2023

  Please see the attached response.

• Initial Complaint

  Date:02/24/2023

  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.

  Fay Servicing is unavailable and does not accept phone calls at any of their phone numbers.They have my balance in their tax documentation which shows 50 thousand dollars less than what *** says I owe and I havent made any changes to my account. They've added balance to it and can not be reached to dispute it. Complete lack of response to repeated emails and phone attempts.

  Business Response

  Date: 03/02/2023

  March 2, 2023
  
  *************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000276510
                                  Property Address:                           ********************************** 60101
                                  BBB Complaint Number:               19493732
  
  Dear *************************:
  
  Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on February 24, 2023,regarding your above-referenced mortgage loan.
  
  In your complaint, you state that *** is unavailable and does not accept phone calls at any of the phone numbers listed.
  
  Please be advised, *** is unable to locate any record of a telephone contact attempt received from you regarding the above-referenced account since March 2022. As is the case, *** placed an outbound call to you on March 1, 2023 in an effort to make contact with you and understand your primary concerns related to the account. You indicated to us that you were attempting to contact us using a telephone number assigned to an old Account Manager. Please note moving forward, if you do have any questions or concerns related to the above-referenced account, please feel free to contact **************** at ************. Further, you requested an explanation as to why the outstanding unpaid principal balance increased by approximately $50,000.00. Please note, the loan was modified pursuant to the terms of the Loan Modification Agreement dated November 16, 2021. The Loan Modification Agreement indicates that as of January 1, 2022, the amount payable under the Note and the Security Instrument is $424,110.45, consisting of the unpaid amount(s) loaned plus any interest and other amounts capitalized. For your records, we have attached a copy of the Loan Modification Agreement dated November 16, 2021. In addition, a copy of the Loan Modification Agreement was printed and sent to the mailing address on file as of March 1, 2023.
  
  In your complaint, you state that the incorrect outstanding principal balance is listed in the **** form for the calendar year of 2022.
  
  After further of the loan, *** is required to report the outstanding unpaid principal balance on the mortgage as of January 1st of the calendar year. The outstanding mortgage principal balance listed on the attached **** statement is $374,935.48, which is the outstanding unpaid principal balance as of January 1, 2022. Although the loan was modified in accordance with the terms of the above-referenced Loan Modification Agreement, there was a delay in the implementation of the above-referenced loan modification. The final loan modification documents were mailed to the mailing address on file via ***** on November 16, 2021. You informed us that additional time was needed to review the final loan modification terms and *** received the signed Loan Modification Agreement on January 10, 2022. Fays records reflect that the loan modification was implemented on March 23, 2022.
  
  You have requested copies of the loan documents associated with the above-referenced mortgage loan.
  
  As requested, please find enclosed the following documents:  
  
  2021 Loan Modification Agreement
  **** Year End Statement (2)
  1003-Loan Application
  Account History
  Appraisal
  Assignments (2)
  Billing Statements (6 from September 9, 2022 through February 10, 2023)
  Escrow Analysis Statement dated April 9, 2022
  HUD-1 Settlement Statement
  Loan Modification Agreement dated July 1, 2010
  Loss Mitigation Evaluation Letter dated August 31, 2021
  Mortgage
  Note
  Notice of Sale of Ownership of Mortgage Loan
  Truth-in-Lending
  Welcome Letter
  
  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 (23)