Complaints

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

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• 

  Fay Servicing LLC

  5426 Bay Center Drive, Suite 300 Tampa, FL 33609

• 

  Fay Servicing LLC

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

• 

  Fay Servicing, LLC

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

• 

  Fay Servicing

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

• 

  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:03/27/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

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

  Answered:

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

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I made pymts had confirmation numbers bank statements showing all pymts and also a letter from the bank telling them all pymts were cleared. And they refuse to credit my account for the payment.

  Business Response

  Date: 03/31/2025

  March 31, 2025
  
  ******* ******
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000309397
                                  Property Address:                           *****************************************************************
                                  BBB Complaint Number:               23124068
  
  Dear ******* ******:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 27, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that *** is refusing to credit a payment to the account despite you having confirmation numbers, bank statements and a letter from your bank confirming all payments were cleared.
  
  We reviewed your bank statements and determined that the loan previously had an unapplied funds balance of $491.81 at the time *** received your payment in the amount of $491.57 on January 30, 2025. However, the funds were placed into the unapplied funds account at that time resulting in an unapplied funds balance of $983.38. The funds are reflected as withdrawn/debited from your bank account as of February 3, 2025. Previously, *** withdrew the unapplied funds and applied them to satisfy the December 1, 2024, mortgage payment on January 31, 2025. On February 3, 2025, *** received your payment in the amount of $491.69, which was placed into the unapplied funds account. The funds are reflected as withdrawn/debited from your bank account as of February 5, 2025. On February 10, 2025, *** received your payment in the amount of $491.69 which was placed into the unapplied funds account resulting in a total of $983.38 in unapplied funds. The funds are reflected as withdrawn/debited from your bank account as of February 12, 2025. Previously, *** withdrew the unapplied funds and applied them to satisfy the January 1, 2025, mortgage payment on February 11, 2025. On February 21, 2025, *** received your payment in the amount of $511.62. Of this amount, we applied $19.93 towards the outstanding late charges and the remaining $491.69 was placed into the unapplied funds account. The funds are reflected as withdrawn/debited from your bank account as of February 25, 2025.On the same day as filing your complaint with the BBB, *** received your last payment of $491.69 on March 27, 2025. The funds were combined with the unapplied funds of $491.69 and the total was applied to satisfy the February ******, mortgage payment. As of the date of this letter, the loan is due for the March 1, 2025, mortgage payment. Please find enclosed a copy of the *** Account History for reference.
  
  If you have any questions, please contact your Account Manager, ***** *******, at *************. Additionally, Fay Servicing, LLC can be reached at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (1)
  

• Initial Complaint

  Date:03/25/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

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

  Answered:

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

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Our mortgage payments are sent by the 5th of the month. *** doesn't post the pay.ents till after the 16th thus tacking on $18.40. The money orders are dated but apparently *** doesn't pay attention to that.

  Business Response

  Date: 03/26/2025

  Please see the attached response.

• Initial Complaint

  Date:03/21/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

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

  Answered:

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

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been making mortgage payments to *** through **************** on 4 properties. They claim that I did not make a payment for Feb and March on one of the four properties. I took a screen shoot of my ***** Fargo statement showing that ***** had debited my account for the payments and that they had been mailed. *** promised to investigate and asked me to confirm that ***** was sending a physical check. I confirmed that and that the account number appears on the check and that the mailing address was correct. I had a handful of call with their customer service trying to resolve this. When I called today to see where we stood they told me I was in default and owed $2000 over the two payment amounts. I asked for a manager to discuss waiving the fees as they failed to tell me I was in danger of a default while they were "investigating." They declined referencing the terms of my note. They took no accountability for the lack of communication during the time I had been talking to them about the problem. All of my other loans are current and have been paid on time through the same process with ****************. They didn't want to acknowledge that they might be having a problem with their PO Box or their cash posting operation.

  Business Response

  Date: 03/28/2025

  March 28, 2025
  
  *******************
  ****** ******
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000327699
                                  Property Address:                           *****************************
                                  BBB Complaint Number:               23098053
  
  Dear ****** ******:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 21, 2025, regarding your above-referenced business purpose loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  
  In your complaint, you state that you provided evidence of payment as *** claims the mortgage payments for February 2025 and/or March 2025 were never made. You state that while the payment information was being investigated, you called in and were informed of the loan being in default and that you owed $2,000 in addition to the two mortgage payments. You state, however, that you were never notified of the account being at risk of defaulting while the payment was being investigated, and you request a refund.
  
  After conducting a reasonable investigation, we determined that the account became more than thirty (30) days past due for the February 8, 2025, mortgage payment,and pursuant to the terms of the attached Note, the loan was placed into a status of default on or about March 11, 2025. Prior to the account being placed into a status of default, *** generated the attached periodic statement dated February 18, 2025, which indicated the February 8, 2025, mortgage payment being overdue at the time. We were unsuccessful in contacting you by telephone on February 25, 2025, and the attached notice dated February 26, 2025, was sent as a reminder that you were behind on your payment in connection with the account.On March 5, 2025, you called in regarding the notice stating that the payment was already made as you utilized an auto-bill pay option through your financial institution. It is important to note that an auto-bill pay option through your bank is different than ***/automatic payments set up through ***. Please be advised that the processing time when using the bill pay option through your bank is contingent on when the banking institution withdraws the funds from your account and either mails a physical check to *** or electronically transfers funds (EFT). Please be advised, however, *** does not accept electronic fund transfers (***). If your banking institution mails a physical check, this process is also contingent on the ***** delivery timeframe and *** cannot control any unexpected delays experienced with **** delivery. However,when you set up automatic/*** payments with ***, *** will electronically withdraw funds from your designated account on the day you specify (within the ***** period of the loan). Setting up an auto *** with *** will allow your payment to be credited to your loan the same day, or the following business day if the *** date you designate falls on a weekend or holiday.
  
  During the call on March 5, 2025, you were advised to confirm with your bank on how the payment was made and, in the meantime, a request was opened in our system for research of the missing payment in the amount of $2,459.83. On March 10, 2025,you called in confirming that your financial institution previously mailed a physical check and that a separate payment for the March 8, 2025, mortgage payment was sent on March 5, 2025. Fays records indicate that research of the missing payment was pending during this period; however, on March 18, 2025, we determined that evidence of the payment was never received and/or uploaded to your account and that a copy of the physical check reflecting as cashed was required for further investigation. On that same day, March 18, 2025, Fays records indicate that we received your payment in the amount of $2,459.83 via the check ending in 4211; however, the payment remitted at that time, was returned to you due to the funds not being sufficient to cure the delinquency during this period. Please note, this matter was escalated to *** Management for review, and Fays records indicate that you were most recently advised by the Assistant Vice President on March 21, 2025, that the default interest and/or fees incurred as a result of the default were valid. Under these circumstances, *** is unable to honor your request for reimbursement. On March 21, 2025, *** received your most recent payment in the amount of $6,770.40 which was applied to the account in the following manner:
  
  $5,185.42 was applied to satisfy the February 2025 and March 2025, mortgage payments
  $1,584.98 was applied to the default interest accumulated for the period of February 2025, through March 2025
  $265.76 was applied to the outstanding late charges
  
  
  As of the date of this letter, the loan is contractually due for the April ******, mortgage payment. Please find attached a copy of the *** 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 (4)

  Customer Answer

  Date: 04/07/2025

   
  Complaint: 23098053
  
  I am rejecting this response because: *** failed to return my calls, failed to notify me that while they were investigating that I was going to be in default, failed to have supervisors return my call, failed to send written notification of the pending default, etc.  You only have to look at the history of complaints against this company to see where the problem lies.  D rating from BBB, fines from the ***** and numerous consumer complaints of their failure to respond.  I have three mortgages with them and all are paid the same way with a check from ***** Fargo,  All show prompt payment but this one account.  They even returned a check to me that was mailed by ***** on the 5th which they claim to have received on the 19th.  I think they generate late fees on purpose.  I think they fail to return phone calls on purpose.  And what is a consumer left to do but pay because they have no recourse other than to complain against businesses like ***. **************** is in *******  
  
  Sincerely,
  
  ****** ******

  Business Response

  Date: 04/15/2025

  April 15, 2025
  
  *******************
  ****** ******
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000327699
                                  Property Address:                           ****************************
                                  BBB Complaint Number:               23098053
  
  Dear ****** ******:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 7, 2025, regarding your above-referenced business purpose loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that you previously requested a return call from a supervisor as you paid $2,000 in penalties as a result of a *** error. You state that you previously took a photo of your bank statement as evidence of the February 2025 and March 2025, mortgage payments that were debited from your account and you understood that the missing and/or unaccounted payments were being investigated during this period.

  
  After completing our investigation, Fays records indicate that the Assistant Vice President was unsuccessful in contacting you by telephone on March 31, 2025 however, a voice mail message was left at the time.When you called back on the same day, the *** representative transferred the call to the Assistant Vice President. Fays records indicate that the call was disconnected unfortunately, as there was no sound or audio and the Assistant Vice President called back on that same day and contacted you however, the call was disconnected. On the next day, Fays records indicate that management spoke with you on two separate instances and confirmed the default interest was validly assessed. During the call(s), you were advised that when you utilized the auto-bill pay option through your financial institution and a physical check was mailed, one or more checks were received late and as more reliable electronic payment options are offered, the default status of the loan was not a *** error. It is important to note that an auto-bill pay option through your bank is different than ACH/automatic payments set up through ***. Please be advised that the processing time when using the bill pay option through your bank is contingent on when the banking institution withdraws the funds from your account and either mails a physical check to *** or electronically transfers funds (EFT). Please be advised, however, *** does not accept electronic fund transfers (***). If your banking institution mails a physical check, this process is also contingent on the ***** delivery timeframe and *** cannot control any unexpected delays experienced with **** delivery.
  
  Currently, we are limited in our ability to honor your request for a refund. However, if you can provide delivery receipt for the February 2025, mortgage payment we can request for the default interest to be waived. We understand that you feel the default status of the loan was a result of the missing and/or unaccounted payment being investigated at the time and a lack of communication from *** regarding the results of that investigation however, *** only has record of the payment that was first delivered on or about March 19, 2025, after the loan was already in a status of default and you have yet to provide any new and/or material information that would have confirmed the account was handled contrarily. As of the date of this letter,the account is due for the next mortgage payment on May 8, 2025, in the amount of $2,459.83.
  
  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:03/21/2025

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

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

  Answered:

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

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  i dont think this will resolve anything . i have yet to receive anything from them in tax records clsrity about insurance they seek like the other cusotmer i believe they are trying to bill me for insurance i have since they ignore requests for clarity referring all totheir lawyer. I did not get any responses to my request for stmts anything but they are going to take my home in a few weeks or so they think. their lawyer answers everything from them i have no online access and have escalated my concerns within cfpb dobi in ** will be sued by me for doing nothing. but cfpb mererly closes complaints upon receiivng an answer without me being able to rebut bottom line i have no stmts , want proof they are not charging me for insurance i have but since they ignore my rewuest for clairty i dont know. i have no online access and need 1098 forms for 2024 payments.

  Business Response

  Date: 03/27/2025

  Please see the attached response.

• Initial Complaint

  Date:03/17/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

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

  Answered:

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

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  To Whom it may concern,This letter is to inform you that I recently received a copy of my credit report that your company publishes and after reviewing it I found a number of items on the report that are inaccurate. The accounts in question are listed below. Please send me copies of the documents that you have in your files as of this date that you used to verify the accuracy of the accounts listed ******************* Under the Fair Credit Reporting Act, 15 U.S.C. 1681g I have the right to demand that you disclose to me all of the documents that you have recorded and retained in your file at the time of this request concerning the accounts that you are reporting in my credit report. Please dont respond to my request by saying that these accounts have been verified. Send me copies of the documents that you have in your files that were used to verify them. If you do not have any documentation in your files to verify the accuracy of these disputed accounts then please delete them immediately as required under Section 611(a)(5)(A)(i). By publishing these inaccurate and unverified items on my credit report and distributing them to 3rd parties you are damaging my reputation and credit worthiness.

  Business Response

  Date: 03/26/2025

  March 26, 2025
  
  Tarrango ******* *********
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000331745
                                  Property Address:                           ***********************************************************
                                  BBB Complaint Number:               23075833
  
  Dear ******** ******* *********:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 17, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  
  In your complaint, you request corrections to your credit report as you discovered several items in the report are inaccurate.
  
  While you did not specify the months or amounts in which the payments in question were made,Fays records do not show that an error has occurred. Please find enclosed a copy of your *** Account History for reference. Please note, *** is required to report complete and accurate information to the credit bureaus. *** is therefore unable to change the credit reporting as there are no errors to correct. Credit reporting information is listed for a period of up to seven years. Please contact the credit bureaus for further information regarding scoring and anticipated removal of historical data. We apologize for any inconvenience this may cause.
  
  If you have any questions, please contact ***************** at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (1)
  

• Initial Complaint

  Date:03/13/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

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

  Answered:

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

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Fay Servicing is responsible for processing payments in the real estate mortgage industry. In January, I mailed a bill pay check for one of my loans, which was delivered via ****. Fay Servicing acknowledged receipt of the check by stamping it as received, but unfortunately, an error occurred on their end that has since escalated into a significant issue. After the mishap, Fay Servicing returned the check to me, claiming that my account was in danger of default. Despite my diligent efforts to resolve the situation through multiple phone calls and emails, Fay Servicing continues to assert that my account is in default. This has resulted in the imposition of two service fees, amounting to $80.84, which I believe are entirely unjustified given the circumstances.Recently, communication with *** has become increasingly difficult, as they have become unresponsive to my inquiries. Their refusal to take responsibility for this mistake, coupled with their ongoing insistence on the default status of my account, is not only unprofessional but has also led to negative items being reported on my credit history. This entire ordeal has been an incredibly frustrating experience, causing undue stress and taking up valuable time that could have been spent more *************** light of these events, I am seeking the following remedies:1) I would like to formally document this complaint to warn others who may encounter similar issues with Fay Servicing.2) I request a full refund of the unjust late fees totaling $80.84.3) I would also appreciate compensation for the time lost and the emotional distress caused by ***** lack of professionalism and accountability in handling this matter.

  Business Response

  Date: 03/21/2025

  Please see the attached response.

• Initial Complaint

  Date:03/12/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

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

  Answered:

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

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Fay Servicing did not process payments of a loan, after I "successfully" set up automatic payments. I setup auto loan payments on their website on January 24th of 2025 for a payment that was due on January 25th. I found out on March 11th 2025 that they had no processed any payments because if I had "read the fine print in the welcome package they sent me in 2023 when they bought my loan, it says that autopayments need to be setup 3 to 5 days before they are due. Because I set it up 1 day before it was due, they can't process any auto payment even though it says autopay is on". So, they let my account go unpaid for 2 months and reported me to the credit bureaus as being 30+ days past due.

  Business Response

  Date: 03/20/2025

  March 20, 2025
  
  ******* *****
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000358977
                                  Property Address:                           **************************************************************************
                                  BBB Complaint Number:               23051934
  
  Dear ******* *****:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 12, 2025, regarding your above-referenced Home Equity Line of Credit. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that you set up ACH/automatic payments with *** so that the January 2025, mortgage payment could be automatically deducted from your checking or savings account. However, you discovered on March 11, 2025, that the drafting of the payment did not take place as you expected, and your credit was impacted.
  
  *** acquired the loan for servicing on July 5, 2023, and Fays records indicate that the attached Welcome Package dated July 14, 2023, was sent to your mailing address on file. The *** Welcome Package includes an Automatic Payment Authorization form for you to complete and return along with an unsigned voided check or encoded deposit slip to enroll your account into our ACH/automatic payment program. The Automatic Payment Authorization form clearly indicates that an upcoming payment will not be drafted from your account if notification of your enrollment is not received at least 3 business days prior to the scheduled draft date. In lieu of the Automatic Payment Authorization form, you were also invited to enroll into our ACH/automatic payment program by accessing your account from our website ******************************. In that regard,************ confirm that you went online to enroll in our ACH/automatic payment program on January 24, 2025. Unfortunately, the drafting of your January 25, 2025, mortgage payment did not take place due to notification of your enrollment not being received at least 3 business days prior to the scheduled draft date. The account notices and statements that were sent to your mailing address on file during this period clearly indicated that your January 2025, mortgage payment was unpaid. Please find enclosed the periodic statements dated January 27, 2025, and February 25, 2025, as well as the payment reminder/late charge notice dated February 10, 2025, for reference. During that period, we were unsuccessful in contacting you by telephone despite multiple attempts from February 11, 2025, through February 17, 2025. The account was reported more than thirty (30) days late in the information supplied to the credit reporting agencies on March 5, 2025. Please note, *** is required to report complete and accurate information to the credit bureaus and is unable to update the credit reporting as no *** error occurred. Credit reporting information is retained for a period of up to seven years. Please contact the credit bureaus for further information regarding scoring and anticipated removal of historical data.
  
  On March 12, 2025, *** received your payment in the amount of $336.78 which was placed into the unapplied funds account. On March 13, 2025, *** withdrew the unapplied funds and applied them to satisfy the January 2025 through March 2025, mortgage payments with an effective date of March 12, 2025. Currently, the loan is contractually due for the April 25, 2025, mortgage payment. The account is currently an active participant in our ACH/automatic payment program and written confirmation of your enrollment was recently sent on March 11, 2025. The first draft will occur on April 25, 2025, drafting a total payment of $112.26.
  
  If you have any questions, please contact ***************** at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.
  
  Sincerely,
  
  Fay Servicing,LLC
  
  Enclosures (4)
  

• Initial Complaint

  Date:03/05/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

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

  Answered:

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

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Dec 2024. Ask Fay Servicing not to Escrow House Insurance, they sent letter they took off escrow. Jan ask Fay Servicing to remove taxes from Escrow, they sent letter agreeing. Thus closing all my escrow accounts. I have paid ********************* and taxes, now Fay Servicing will not let me pay my account unless I pay into a escrow account. I have paper work sent to me by Fay Servicing with all information

  Business Response

  Date: 03/19/2025

  March 19, 2025
  
  ***** ******
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000349876
                                  Property Address:                           ************************************************
                                  BBB Complaint Number:               23024589
  
  Dear ***** ******:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 5, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that you requested cancellation of the escrow account for property insurance during December 2024, and you requested cancellation of the escrow account for property taxes during January 2025. You state that letters were sent that indicated the escrow account for property insurance and property taxes were removed; however, you are currently being required to make escrow payments to pay the mortgage.
  
  After completing an investigation, we determined that a signed written request is required in order to remove an escrow account for property taxes and/or property insurance and your initial written requests only indicated to remove the hazard insurance. During December 2024, *** completed an Escrow Analysis on December 23, 2024, and we have attached a copy of the Escrow Account Disclosure Statement for reference. The analysis completed reflects an increase in the monthly payment from $838.23 to $1,006.31 effective with the February 1, 2025,mortgage payment. At the time of the analysis, the loan had an escrow balance of -$1,262.33 with a required escrow cushion of $569.60 resulting in an escrow shortage in the amount of -$1,831.93.The escrow shortage was spread over twelve (12) months resulting in an additional $152.66 added to the monthly payment. After the analysis, *** received your initial written request to remove hazard insurance only and we have attached a copy of the correspondence for reference. The attached letter was sent dated December 27, 2024, regarding our review of your request for full/partial escrow cancellation and we determined the request was denied due to the escrow account having a negative balance. *** then received two escrow-only payments on December 27, 2024, and January 6, 2025, for $1,700 and $131.93 which were applied to the escrow balance of the loan. On January 8, 2025, *** completed an updated Escrow Analysis, and we have attached a copy of the Escrow Account Disclosure Statement for reference. The analysis completed reflects an increase in the monthly payment from $838.23 to $853.65 effective with the February 1, 2025, mortgage payment; however, the escrow shortage was removed during this period. Afterwards, we received a secondary written request to remove hazard insurance only and we have attached a copy of the correspondence for reference. On January 14, 2025, *** received another escrow-only payment in the amount of $1,531 which was applied to the escrow balance of the loan.
  
  Fays records confirm your request to remove the hazard insurance was approved on January 16, 2025, and the attached letter was sent regarding our review of your request for full/partial escrow cancellation. The letter indicated that you would no longer have an escrow account as of February 7, 2025. Unfortunately, the appropriate request required for an escrow analysis was not placed in our system so that the monthly payment could be adjusted during this period and instead, the attached letter dated February 10, 2025, was inadvertently sent regarding your request for full/partial escrow cancellation. We regret the inconvenience and frustration caused by this matter.
  
  The request was placed in our system for an updated escrow analysis on or about March 13, 2025. *** recently completed the required escrow analysis, and the Escrow Account Disclosure Statement is being sent under separate cover. The analysis completed indicates that we are only escrowing for property taxes and reflects a decrease in the monthly payment from $853.65 to $726.07 effective with the April 1, 2025, mortgage payment. At the time of the analysis, the loan had an escrow balance of $2,670.17 with a required escrow cushion of $1,414.90 resulting in an escrow surplus in the amount of $1,255.27. On March 17, 2025,*** deducted the escrow surplus and issued the funds to you in the form of an escrow refund check which was sent to the mailing address on file. Please allow up to 15 business days for **** delivery. Please advise if your check has not been received within this time frame.
  
  As of the date of this letter, the loan is contractually due for the April ******, mortgage payment in the amount of $726.07. We most recently received your revised escrow removal request dated March 5, 2025, indicating that the request is for both property taxes and property insurance and the correspondence was uploaded to your account as of the date of this letter. We are currently reviewing the most recent full/partial escrow cancellation request and expect a determination by no later than March 24, 2025.
  
  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 (7)

• Initial Complaint

  Date:02/10/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

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

  Answered:

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

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have a mortgage for a property with Fay Servicing. The address is: *****************************************. They said that I did not have insurance coverage for my property so they purchased a policy on their own. I sent over 4 separate calls validating that the insurance that I already had covered all of their requirements and they finally agreed. Since they have agreed, it has been 4 weeks and I have not received any confirmations of this. They have increased my Escrow costs to pay for the insurance they purchased and I will start paying this higher amount in March. When I speak to them about it, they agree that it shows it is processing, but refuse to give me any evidence.

  Business Response

  Date: 02/18/2025

  Please see the attached response.

• Initial Complaint

  Date:02/05/2025

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

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

  Answered:

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

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I hope this message finds you well. I am writing to formally lodge a complaint regarding my recent experience with your customer service team, and I kindly request an investigation into the matter. On 2/4/2025 at 2:59pm, I contacted customer service for assistance with a representative Ngosa, she was rude, lacking empathy and effective communication. Unfortunately, the level of service I received was unsatisfactory due to her yelling at me, refusing to transfer call to manager and ending the call. Please investigate the calls I made and train this representative. Despite my clear explanation of the issue and polite requests for help, the representatives ended the call, I called three times. Finally on the third attempt at 3:21pm, representative Godfrida informed me that no manager was available and requested a call back. This experience has left me frustrated and dissatisfied with the service, especially given my previous positive experiences with your company. As a loyal customer, I believe my concerns deserve to be addressed, and I would appreciate a thorough investigation into this incident to prevent similar issues from occurring in the future. I am more than happy to provide any additional details needed to assist in the investigation. I look forward to your prompt response and the resolution of this matter.

  Business Response

  Date: 02/10/2025

  Please see the attached response.

  Customer Answer

  Date: 02/11/2025

   
  Complaint: 22898950
  
  I am rejecting this response because: It barely addressed my concern of the poor customer service. 

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

  Business Response

  Date: 02/20/2025

  Please see the attached response.