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Business Profile

Mortgage Lenders

Fay Servicing LLC

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Mortgage Lenders.

Complaints

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

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    Customer Complaints Summary

    • 200 total complaints in the last 3 years.
    • 64 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:01/06/2023

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      After being notified I was 2 months behind on my mortgage, I requested which months they were missing and each time I was provided with the months of 2 missing payments, I provided proof of payment. After going back and forth for 2 years and me having to retain an attorney to figure it all out on my own, I did realize that I missed 2 payments. Fay Servicing returned my mortgage payment and wanted all or nothing while previously accepting my payments which were on time each and every month. I was given the option to pay all fees including their administrative/attorney fess in full or accept their loss mitigation option which was a loan modification adjusting my mortgage from ****% to 6.8% with our mortgage payment going from $2700 to $3300 a month which I can not afford. Those were the 2 options available to me. Since they are no longer accepting my payments I have been saving the payments offering $15,000 and paying off the rest and I again offered $20,000 and to pay off the rest but was told no. I am now fighting a foreclosure and paying for legal representation. Fay Servicing has told me in writing that since a foreclosure has started, by law they can now only accept payment in full which I believe is a lie. This is very disappointing.

      Business Response

      Date: 01/11/2023

      Attached is our response for review. 

    • Initial Complaint

      Date:01/04/2023

      Type:Billing Issues
      Status:
      Answered
      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.
      Loan# ********* insurance policy#************* Property: **************************************** Issue double payment of insurance.Insurance was collected by Fayservicing via as escrow payments to my mortgage. I received a cancelation notice from the insurance provider stating that they would cancel the policy due to nonpayment in 2 days. Contacted them and the admitted that it would take at least 3 days to verify if the cheque they issued was cashed.I begged them to contact the insurance company to alleviate there concerns of payment. They were unwilling to do so and I was forced to pay the insurance again (already paid fayservicing) I was told that return payment would ve sent to me immediately and still have not received it yet of( $2862.00)

      Business Response

      Date: 01/12/2023


      January 12, 2023

      *********** Enterprises LLC
      ***********************************
      Sent via BBB Portal

      RE:                          Account Number:                            0000337489
                                      Property Address:                           *********************************** 12206
                                      BBB Complaint Number:               18683618

      Dear ***********************************:

      Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on January 4, 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 *** failed to pay your insurance in time and you had to pay the insurance yourself.

      *** records reflect ************************** as the current insurance carrier on file with policy number ***************, which expires on November 21, 2023. *** disbursed for this policy on November 16, 2022 in the amount of $2,862.00. *** is next scheduled to disburse for this policy in the anticipated amount of $2,862.00 in November 2023. Our insurance vendor spoke to ************************** and verified that a refund in the amount of $2,862.00 will be processed within the next 3-5 business days and sent to your mailing address on file due to the duplicate payment of the policy. Please allow an additional **** business days for mailing and delivery.
      Fay Servicing, LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.

      Sincerely,

      Fay Servicing, LLC

      Enclosures (1)

      Customer Answer

      Date: 01/12/2023

       
      Complaint: 18683618

      I am rejecting this response because:

      Foremost had not received the payment from fayservicing otherwise I would not have needed to make full payment.

      Foremost contacted me and stated that they would cancel my policy due to nonpayment. 

      Your office verified that you are using a third party to make payments to the insurance companies and it would take days to verify if foremost had cashed your cheque. 

      Your Office also verified that they are having a very hard time with your 3rd party company who's making insurance payments on your behalf, and my incident is not isolated.

      Also your company could have contacted foremost and explained the situation and not involved myself but you were unwilling to do so.

      You (Fayservicing) have no idea what is going on, there is little to no communication. 

      You are unwilling to deal with issues, and in my opinion you are completely incompetent. 

      It was such an inconvenience to contact your office multiple times to get nowhere.  I asked to have a manager call me back or any management and they were unwilling. 

      I do not believe anything that you guys say.

      Last time I spoke with your office they said they would be issuing me a cheque not foremost. 

       The story changes every time I communicate with fayservicing. 

       

      Sincerely,

      ***********************************

      Business Response

      Date: 01/19/2023


      January 19, 2023

      *********** Enterprises LLC
      ***********************************
      Sent via BBB Portal

      RE:                          Account Number:                            0000337489
                                      Property Address:                           ************************************ 12206
                                      BBB Complaint Number:               18683618

      Dear ***********************************:

      Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on January 12, 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 as you state that *** did not pay your insurance timely and you had to pay it yourself.

      As stated in our previous response dated January 12, 2023,*** disbursed funds in the amount of $2,862.00 to ************************** on November 16, 2022 for the payment of the policy, prior to the expiration date of November 21, 2022. As such, funds were disbursed for the policy in a timely manner. As *** is required to pay your escrowed items as they become due, if you make a duplicate payment it is your responsibility to request a refund from the insurance company. However, our insurance vendor has requested a refund on your behalf which will be processed and sent to your mailing address on file as stated in our previous response. We are sorry to hear about your experience. We are committed to providing superior customer service and have addressed your concerns with the appropriate parties.
      Fay Servicing, LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.

      Sincerely,

      Fay Servicing, LLC

      Customer Answer

      Date: 01/27/2023

       
      Complaint: 18683618

      I am rejecting this response because:
      Foremost#***********
      Policy #***-5003144476-04

      Im sorry to say that based on the investigation done by my broker you are either lying or completely in the dark.

      Foremost does not have a double payment on file the only payment they are showing is the one that I sent to them via credit card.

      They have not issued a check because they don't have a double payment, you need to check your own records, your check has not been cashed and you will not be able to provide proof of such.

      I don't know why You have not verified that the check that you say you have issued has not been cashed by foremost.

       Please verify whether or not the check has been cashed and if it has not been cashed please issue me a check immediately.


      Sincerely,

      ***********************************

    • Initial Complaint

      Date:12/29/2022

      Type:Billing Issues
      Status:
      Answered
      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.
      will need to elevate our discussion because you appear to be moving the goalpost when it is clear that you owe funds for over a year and holding funds for over a year and have not returned identified funds for over a year. This account has been closed since 2021.

      Business Response

      Date: 01/04/2023


      January 4, 2023

      *************************
      Sent via BBB Portal
      RE: Account Number: **********
      Property Address: ***************************************************** 45420
      BBB Complaint Number: 18629306
      Dear *************************:

      Fay Servicing received your letter dated December 29, 2022, regarding your home loan. In review of the attached, document number ********, this particular document is in reference to unclaimed property identified by Caliber *********** **** c/o *******************************************. ******* identified an overage of $196.22 that had not been cashed. Please note, the document provides instruction regarding the transfer of custody process that *** is not a part of. We recommend to continue working with your States Unclaimed Property Administrator and Caliber *********** **** c/o *******************************************.

      We regret we are unable to further assist you as we are not familiar with this process.

      If you have any questions, 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

    • Initial Complaint

      Date:12/29/2022

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have called, emailed, messaged support several times in the last few months and still no resolution. **** Servicing paid my HOI which it is their job to do so as my insurance is escrowed. Two months after they paid the insurance they refunded my account back for the policy so to date I have no insurance. I can't get no answer as to why. I submitted the insurance bill on their website as requested literally 5 times. This servicer has absolutely no reason to still have their doors open, and they are against compliance at this point.

      Business Response

      Date: 01/04/2023


      January 4, 2023

      ****************************
      ***********************************
      Sent via BBB Portal

      RE:                          Account Number:                            0000205113
                                      Property Address:                           **************************************************************************************************************************************************************************************************************************************; BBB Complaint Number:               18651926

      Dear ****************************:

      Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on December 29,2022, 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 state that you have been attempting to find out why *** paid the insurance and then it was refunded.

      *** records reflect that on **** 6, 2022, *** received a Notice of non-renewal for Dover *********************** for policy number XLB513801, effective July 1, 2022. On **** 8, 2022, we received notice that an error occurred and our ******************** attempted to contact Dover *********************** and confirmed that the cancellation notice received was actually an expiration notice. The call was then transferred and a message was left requesting a return call. Our ******************** attempted to contact Dover *********************** on **** 22, 2022 to obtain the renewal information; however, we left a message requesting a return call. On **** 24,2022, we placed a follow up call to Dover *********************** to obtain the renewal information and again left a message requesting a return call. On **** 28, 2022, we attempted to contact the insurance company once again, however the information could not be obtained. As such, *** sent a letter dated July 4,2022 requesting your insurance policy information to be provided to us. We sent a secondary letter dated August 3, 2022. *** received the insurance quote information from Dover *********************** on August 18, 2022 and they advised that once a payment was received for the renewal, the policy number would be provided. A payment was disbursed that day for the policy number XLB153801. On September 13, 2022, we received the check dated August 18, 2022 back from Dover ***********************. That same day we submitted another payment via overnight delivery for the payment of the policy. On October 3,2022, we received the check returned again stating that the policy number was incorrect. *** sent another check via overnight delivery to the insurance company. On October 27, 2022 we received the returned check again stating that the policy was cancelled for non-renewal and the funds were reapplied to your escrow account. A letter was sent that same day to you requesting that you provide the insurance policy information to us. A secondary notice dated November 28, 2022 was sent requesting the insurance policy information. As the policy was not received lender placed insurance was added to the account and *** disbursed payment for the policy on December 31, 2022 in the amount of $3,841.02. Enclosed are both copies of the insurance notices for your records. In order to update the insurance policy on file, please submit your updated insurance policy information to *******
      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: 01/05/2023

       
      Complaint: 18651926

      I am rejecting this response because: Please see attached messages. None of what was mentioned in the response to the complaint was ever mentioned to me. Why? All I was repeatedly asked for was to submit insurance which I did a total of four times. **** Servicing did not disburse payment to the renewal policy until 3 months later is why ********* obviously did not renew my policy. In the ****************** we now only have a few companies left writing down here due to all the claims from Hurricane ***. Now, that my policy was cancelled due to non-payment I can only obtain a policy through the government program ****************** in which my premium will literally double. Please explain to me how this is fair to me. **** did not do their job in a timely manner so now as the consumer I have to be financially penalized. **** should be eating the difference in the premium.

      Sincerely,

      *************************

      Business Response

      Date: 01/13/2023

      Please see the attached response from ***.

    • Initial Complaint

      Date:12/29/2022

      Type:Billing Issues
      Status:
      Resolved
      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.
      09/27/2022 through now and ongoing are the dates. Their precision for my homeowners insurance was wrong, and they manipulated the amount I am paying in escrow to show less than what I actually pay. The amounts they planned are not aligned with what I am actually paying and what I have paid. They use my monthly escrow in part to pay back my advance, but my escrow analysis does not reflect that. It only shows the negative balance without showing the total amount I am paying to cover that negative balance plus regular escrow.They have not adjusted my actual homeowners payment amount. They have not listed the actual amount I pay in escrow in the payment section even though the whole proportion is used to cover the advance plus my regular escrow.There has been a miscalculation in multiple areas, and they are refusing to offer a solution. I have been verbally told since 09/27/2022 that my escrow analysis will be corrected, but they have not followed through on their promise.I have included my current total escrow payment statement, and you will see what they stated on my escrow analysis is not realistic. From 11/01/2022 to 12/01/2023, I have calculated that they are charging me $1,965.60 too much in escrow. I have considered plus included the repayment of my escrow advance and the minimum escrow balance in this amount. This equates to $163.80 too much of my total monthly mortgage payment. I am currently paying $1927.51 per month which exceeds the total amount I should be paying of $1763.71. I am looking forward to a ************** analysis including the correct amount for my homeowners insurance and the whole amount I pay in escrow as proven on my current statement.

      Business Response

      Date: 12/30/2022


      December 30, 2022

      *********************
      Sent via BBB Portal

      RE:                          Account Number:                            0000333683
                                      Property Address:                           ************************************************************ 46835
                                      BBB Complaint Number:               18641285

      Dear *********************:

      Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on December 29, 2022,regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
      In your complaint, you state that *** is not collecting the correct amount for your escrowed items and you would like to request an updated analysis.

      Your loan was transferred to *** on August 9, 2022 with an escrow balance of $455.87. A new escrow analysis was completed within sixty (60) days of a service transfer in accordance to 1024.17(e) (1) of ***************** analysis that was completed by *** on September 26, 2022 was to ensure that the correct amount is being collected for taxes and insurance this upcoming year. A shortage of $2,499.64 was identified during this analysis which would increase your payment to $1,927.51 effective with your November 1, 2022 payment. However, an updated escrow analysis was conducted on December 28, 2022, which determined a decreased shortage in the amount of $1,724.59. This shortage calculation was determined as the escrow balance at the time of the analysis was $196.81, when $1,921.40 was required. The monthly collection amount for your taxes increased from $213.61 to $218.94. The monthly collection amount for the homeowner's insurance decreased from $232.25 to $165.33. Effective with the February 1, 2023 payment,the total monthly payment will decrease to $1,801.34. An Escrow Account Disclosure Statement will be sent to the mailing address on file.
      *** currently reflects ****************** Company as the current homeowner's insurance on file with policy number ********, which expires on October 26, 2023. *** disbursed $1,984.00 for this policy on November 8, 2022. A disbursement in the anticipated amount of $1,984.00 is scheduled to be made in October 2023 for this policy.
      *** disbursed $1,313.64 to the ***** County Treasurer on October 13, 2022. *** is next scheduled to disburse to the ***** County Treasurer in the anticipated amount of $1,313.64 in April and October 2023. If you reflect that any of the above information is incorrect, please submit proper documentation in order for *** to further research this matter.
      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 (2)

      Customer Answer

      Date: 01/05/2023

       
      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:12/13/2022

      Type:Delivery Issues
      Status:
      Answered
      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.
      The consumer's account was transferred to this business and the due date was changed. The consumer contacted the business to let them know that they wanted the payment to come on the 21st as they have previously. The business stated they would need to refinance to change the due date.

      Business Response

      Date: 12/22/2022


      December 22, 2022

      ****** & *********************
      Sent via BBB Portal

      RE:                          Account Number:                            0000345880
                                      Property Address:                           ************************************************************** 31061
                                      BBB Complaint Number:               18566751

      Dear ****** & *********************:

      Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on December 13,2022, 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 your loan was transferred to *** and the due date was changed from the 21st.

      Please be advised, we are currently in contact with your previous servicer to determine the correct terms of the above-referenced loan.As of the date of this correspondence, we currently reflect the due date of your monthly payments as the fifth of each month. Once we have completed our thorough investigation, we will provide you will a follow-up response. We apologize for any inconvenience this may have caused. In addition, we are currently servicing your secondary ***** loan. However, the terms of the ***** do not seem to have been impacted. As of the date of this correspondence, the above-referenced loan is due for the February 5, 2023 payment.
      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

    • Initial Complaint

      Date:12/02/2022

      Type:Billing Issues
      Status:
      Answered
      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.
      on 10/07/2022 and 10/24/2022 I paid *************** (mortgage collecter) thru my credit union USFCU $399.42 on each date shown for my Oct monthly mortgage payment which totals ******. That is my normal payment to them for October. Fay Servicing has taken over the mortgage balance and on November 19 Saturday at 11:00 am I talked to a lady named ******* who took all my info down to auto pay $****** on Nov. 29th and every 29th thereafter till paid off. They (****) don't do bi-monthly payments, told them no problem I have never had one (1) late payment with any and all of my mortgage collectors in over 20 years of payments. I called them today because the payment for the 29th had not been taken out and a lady name ******* informed me that no routing in structions were in their system to remove the money. Then she informed me that I owed them for October payment. Told her that problem is with *************** not me. My complaint is that they are trying to double dip me or ***************. Also in advance to you that my payment was/is there and I'm not shown as a late payer. Please help me, thanx in advance

      Business Response

      Date: 12/09/2022


      December 9, 2022

      ***********************
      Sent via BBB Portal

      RE:                          Account Number:                            0000347632
                                      Property Address:                           *************************************************** 37620
                                      BBB Complaint Number:               18491674

      Dear ***********************:

      Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on December 2, 2022,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 made the October 2022 payment to your previous servicer prior to the service transfer to ***. You also state the payment you scheduled on November 29th hasnt been withdrawn.

      Your loan was transferred to *** on November 3, 2022 due for the October 22, 2022 payment.  According to the prior service payment history, which has been enclosed, two payments were received in October 2022. The first payment was received on October 6,2022 in the amount of $399.42 and the second payment was received on October 22, 2022 in the amount of $399.42. However, these payments were combined and applied to the September 22, 2022 payment. In addition please see the enclosed billing statement dated October 25, 2022 which confirms after this payment was applied the loan was still one month past due. If you do not believe the payments on the attached payment history are applied correctly,please provide proof of payment in order for *** to complete further research. As of the date of this correspondence, the above-referenced loan is due for the October 2022 payment and all subsequent payments.
      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: 12/28/2022

       
      Complaint: 18491674

      I am rejecting this response because: Fay Servicing employees told me that the Octobers payments (2) would have to credited it to them by me calling *************** (prior financing company) and getting them to credit Fay Servicing. No where was this payment , late by a month ever discussed.Had they told me that I would have gladly called *************** and straightened it out. I will testify under oath that there has NEVER been a late payment existing on this account. as a matter of fact there were years of over payments made on this account starting with CITI Financial. All the last ***** years at least , payments have been automatic withdrawal from my credit union USFCU plus I have overdraft protection on the account. Also to mention that overpayments of $810.00 - $820.00 were automatically taken out for years. What bothers me now is that they DID NOT take out the November 29th payment as was set up with them in early November .Now they have charged a late fee and December 29 is tomorrow. Both monies for the two payments are sitting in my credit union and should be/have been applied.

      Sincerely,

      ***********************

      Business Response

      Date: 01/06/2023


      January 6, 2023

      ****************************
      Sent via BBB Portal

      RE:                          Account Number:                            0000347632
                                      Property Address:                           **************************************************** 37620
                                      BBB Complaint Number:               18491674

      Dear ****************************:

      Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on December 29,2022, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.

      *** acquired the above-referenced loan for servicing on November 3,2022, due for the October 22, 2022 payment. Please be advised, automatic drafting is set up on this loan. However, due to the pre-foreclosure status of the loan, payments will not be drafted.

      We apologize you were not informed you may contact **************** to look into the missing payments further for your October 2022 payment. However,please be assured that *** is continuing to research the two payments you stated were made for your October 2022 payment to ****************. *** has been in contact with **************** and are awaiting further information at this time to confirm the correct payment due date to ensure the proper corrections are made to your loan. We understand the inconvenience this has caused and are working diligently to resolve the issue for you. Once *** has received further information from ****************, we will provide a follow up response to you at your mailing address on file within 30 days.

      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

    • Initial Complaint

      Date:12/01/2022

      Type:Order Issues
      Status:
      Resolved
      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 selling my house and cannot close on it because they won't provide the payoff statement to my settlement agency. I called them to try and resolve this, but I was on hold for over 3 house with no response. It is like they have nobody answering the phones, so it is impossible to get anything done with them. I would have another company handle my mortgage, but my loan was sold to them and I can't do anything about it. These people are incompetent and do not deserve to stay in business.

      Business Response

      Date: 12/02/2022


      December 2, 2022

      *************************
      Sent via BBB Portal

      RE:                          Account Number:                            0000332153
                                      Property Address:                           ************************************************** 23124
                                      BBB Complaint Number:               18484737

      Dear *************************:

      Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on December 1, 2022,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 *** will not provide a Payoff Statement as requested.

      *** has conducted a reasonable investigation and determined that no error has occurred. **** record do not reflect that any requests for a Payoff Statement have been received prior to December 2, 2022. However, a Payoff Statement has been ordered and will be sent to the mailing address on file separately. We are sorry to hear about your experience. We are committed to providing superior customer service and have addressed your concerns with the appropriate parties.
      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

      Customer Answer

      Date: 12/02/2022

       
      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:12/01/2022

      Type:Billing Issues
      Status:
      Answered
      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 has been reporting to the credit bureaus that I am 90 days late for Account *************. With the last reporting on 6/29/2022. This mortgage account was closed in 4/2018 as the home was sold. I have called Fay Servicing numerous times on 11/29/2022 and spent over an hour and a half speaking to various customer service reps who were not able to find any account linked to me with any of my personal information. I asked to speak to a manager and they wouldn't pass me to anyone. I was told to send an email to the customer service restating what I was telling them so that someone could respond, even though I was speaking with them in real time they wouldn't even give me anything writing because they said they couldn't find anything on me. I would like something in writing indicating that there is no account found with my name or identifiable information I had provided in those numerous calls, and they refused stating that they could not do this because they have no account to reference. Which doesn't make sense because they continue to report to the credit bureaus using the account I referenced. The false reporting is causing a great impact on my credit score, and I would like them to remove the account and provide me with a written statement indicating they don't have an account for me. Which technically they continue to FALSE report to the credit bureaus!

      Business Response

      Date: 12/09/2022

      December 9, 2022


      ***********************************
      Sent via BBB Portal






      RE:                                          Account Number:                            0000038646
                                                      Property Address:                           ******************************************************************* 80631
                                                      BBB Complaint Number:               18483313

      Dear ***********************************:

      Fay Servicing, LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on November 30, 2022 regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.

      In your complaint, you state Fay Servicing has been negatively credit reporting you 90 days late with the last reporting date on June 29, 2022. You indicate the account has been closed since April 2018 as the property was sold and you have called multiple times since November 29, 2022 in attempts to locate the account and rectify the reporting. You further state that representatives were unable to locate your account even though the account was still being credit reported.

      *** records reflect the loan was paid in full on April 24, 2018. In order to conduct a full investigation, *** requires a copy of the full credit report.

      We are sorry to hear about your experience.  We are committed to providing superior customer service and have addressed your concerns with the appropriate parties. Please note, as the loan is no longer being serviced by *** due to the sale of the property, the loan has been made inactive in our system. In order for *** to locate your account, the loan number is required.We apologize for the inconvenience.

      If you have any questions, 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 

    • Initial Complaint

      Date:11/30/2022

      Type:Billing Issues
      Status:
      Resolved
      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 got behind on my mortgageearlier this year as a result of going through a divorce. I was behind maybelike 3 months. I got it caught up inOctober. I actually overpaid. And so my next payment isn'tdue until January 2023. Or so I thought.Please see my mortgage statement below. It clearly says my next payment isnt due until January 2023. I just happened to log in to my mortgage account early this morning and they reversed all of the payments and is now showing misapplied! It looks like they maybe applied them to taxes and escrow. I'm not sure. I've never had this happen before. Now, its showing that I havent made a payment since June 2022. I didn'tget any notice, warning, or anything. I was literally getting ready to schedule my January payment for this Friday whichwas why I logged in. Otherwise, I wouldn'thave known. I really think they are just trying to take my house atthispoint. I have the worse account manager/ rep. I get no where when I call to try to get assistance from him. Please help me get this resolved. Im paid up until December 2022 and thats what my account should reflect.

      Business Response

      Date: 12/07/2022

      Please see the attached response. 

      Customer Answer

      Date: 12/14/2022

       
      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,

      ***********************

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