|
11751468
|
2025-01-25
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Trying to communicate with the company to fix an issue while managing or servicing your loan
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2025-01-25
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2025-01-25
|
|
|
11250400
|
2024-12-22
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Loan sold or transferred to another company
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-12-22
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-12-22
|
|
|
11272685
|
2024-12-23
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
An existing modification, forbearance plan, short sale, or other loss mitigation relief
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-12-23
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-12-23
|
|
|
10808823
|
2024-11-15
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Trying to communicate with the company to fix an issue while managing or servicing your loan
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-11-15
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-11-15
|
| Complaint What Happened |
Fay servicing has confusingly admitted they received and processed an insurance proceeds check, but then also stated they have not received the check. They have then asked for additional information, claimed they released the check, then circled back with another document request. We have had this check reissued XXXX separate times, and at this point Fay servicing is just acting in bad faith failing to release insurance checks to my company for hurricane damage.
|
| Consumer Consent Provided |
Consent provided
|
|
|
10656711
|
2024-11-01
|
Problem with a company's investigation into an existing problem
|
Credit reporting or other personal consumer reports
|
|
| Issue |
Problem with a company's investigation into an existing problem
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Credit reporting or other personal consumer reports
|
| Sub Issue |
Problem with personal statement of dispute
|
| Sub Product |
Credit reporting
|
| Date Received |
2024-11-01
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-11-01
|
| Complaint What Happened |
After 15 years of making my mortgage payment to XXXX XXXX XXXX XXXX XXXX or about XX/XX/XXXX Fay Servicing assumed the servicing for my loan. At this time, I had just lost both my mother ( XX/XX/XXXX ) and father ( XX/XX/XXXX ), so I was a bit upside down in my life. Im sure flying back and forth to XXXX XXXX ( XXXX flights ) times in 18 months while XXXX XXXX XXXXXXXX to fly didnt help my mental state. In XXXX I refinanced and soon after sold and moved to a new area of XXXX. At no time was I advised of any issue on my Credit Report that affected my ability to obtain financing and/or receive a favorable rate. However, my life has taken a turn and Im selling my home to travel in a trailer. However, Ive been told that if I had a XXXX XXXX XXXX my rate and app process would vastly improve. But Im told the ONE AND ONLY item on my Credit Report that is preventing this from happening is a single 30 day late reported by Fay Servicing in XX/XX/XXXX. Just the XXXX month since the change so it can easily be explained why I may have missed the payment. Is there NO forgiveness? XXXX XXXX XXXX XXXX and paying a mortgage since XXXX, and I cant believe just ONE 30 day late would result in such harm to my credit ; especially XXXX years later. I also cant believe that after doing some XXXX searches on Fay Servicing, I have to ask, how and why is a company permitted to place negative notes on a credit file, when they themselves have been investigated for Overcharging Late Fees and PMI payments. In fact, after they reported my 30 day late, they sent me a check for over {$240.00} due OVERCHARGING. All I am asking is for one forgiveness. Why is this permitted to happen. Everyone should get at least one forgiveness, if not one per year. Life happens and the punishment seems extreme.
|
| Consumer Consent Provided |
Consent provided
|
|
|
10577387
|
2024-10-25
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
| Sub Product |
FHA mortgage
|
| Date Received |
2024-10-25
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-10-25
|
| Complaint What Happened |
On XX/XX/year>, Fay Servicing responded to my complaint # XXXX. However, they have yet to address my primary concern regarding when and why my FHA loan was purportedly converted to a conventional loan. At no point did I sign or agree to any change in the loans terms, nor was I notified of such a conversion. Without my explicit agreement, the loan you currently manage is not my original loan, as I did not authorize or initiate any conversion from FHA to conventional terms. Rebranding this loan with a new loan number and claiming it as conventional, without my consent, constitutes identity theft.
The discontinuation of FHA insurance does not equate to a conversion of the loan from FHA to conventional terms. The FHAs 601 Accelerated Claims Disposition ( ACD ) program, also known as the Joint Venture or Note Sales Program, does not automatically convert an FHA loan into a conventional loan. Instead, the ACD allows FHA to sell delinquent loans to private investors to resolve these loans outside FHAs insurance framework. Once the loan is sold, it no longer carries FHA insurance, and the investor can then explore various outcomes, such as loan modifications or even foreclosures, based on the terms of sale and neighborhood stabilization requirements.
However, this sale to an investor under ACD does not constitute a refinancing process or imply that the loan has been converted from FHA to conventional. For a loan to become conventional, a formal refinance process must occur, where new loan terms are explicitly agreed upon between the borrower and the lender, and FHA insurance is formally removed. The ACD program is designed to provide flexibility in managing defaulted loans but does not inherently alter the loan type from FHA to conventional.
The Distressed Asset Stabilization Program ( DASP ) similarly provides FHA the ability to sell severely delinquent loans to investors who aim to stabilize the property and neighborhood. This program allows investors the flexibility to offer borrower assistance programs, such as principal reduction or interest rate limits, to help avoid foreclosure. However, DASP does not convert an FHA loan into a conventional loan ; it simply transfers ownership, allowing the new loan holder to assess modification options as part of stabilization efforts.
For further details, the HUD website and related program fact sheets provide an in-depth explanation of both the ACD and DASP programs and the responsibilities of investors under these programs.
Your response lacks a specific timeline, justification, or documentation evidencing my consent to this alleged conversion, which remains central to my inquiry. I request this documentation and reiterate that no consent has been given to rebrand or change the loan to conventional terms.
|
| Consumer Consent Provided |
Consent provided
|
|
|
6916559
|
2023-05-01
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Older American
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2023-05-01
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-05-01
|
| Complaint What Happened |
Upon transfer of my account my payment was {$470.00}, within 2months increased to {$750.00}, two months later to {$1000.00}. Was told that prior company was not charging enough and they added insurance. Found separate insurance and was instructed by them to forward them the invoice and they would pay out of escrow. Never did, therefore insurance cancelled. Tried getting explanation numerous times and tried making payments, they would not accept. Mailed them a cashiers check for amount close to what I owed, since I could never get a straight answer regarding amount, and they returned stating an absorbenant amount. Have send numerous emails and left messages for return phone call to no avail
|
| Consumer Consent Provided |
Consent provided
|
|
|
10975775
|
2024-11-27
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Payment process
|
| Sub Product |
Home equity loan or line of credit (HELOC)
|
| Date Received |
2024-11-27
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-11-27
|
| Complaint What Happened |
XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX XXXX Fay Servicing and XXXX XXXX Subject : Concern Regarding Mortgage Fraud and Request for Documents Dear Fay Servicing and XXXX XXXX, We hope this letter finds you well. We are writing to express our deep concern regarding mortgage fraud related to our mortgage account XXXX XXXX Loan Number XXXX Fay Servicing Loan Number XXXX Since the initial purchase of our home in XXXX, This loan has been sold and serviced now by XXXX different lenders in only 3 years.
XXXX. XXXX XXXX XXXX. XXXX XXXX XXXX XXXX. XXXXt XXXX. Fay Servicing During the life of the loan it was initially serviced by XXXX XXXX. No payments were ever reported to the credit bureau by this company. We experienced no issues related to payments being posted correctly and no payments were submitted late.
Once the loan was transferred to XXXX XXXX XXXX, a company that has been found to engage in fraudulent business, we repeatedly were told that payments were not being paid in full and therefore payments would not be applied to the balance resulting in late fees and a report to the credit bureau of a 30 day late payment immediately prior to the loan being transferred to XXXX in XX/XX/XXXX. The last unapplied payment sent to XXXX was for XX/XX/XXXX. We are aware that XXXX has had many complaints and allegations of fraud which include not applying payments correctly and legal action is being pursued by several entities. We will be submitting a complaint and request for investigation to the following entities : https : //www.myfloridalegal.com/mortgage-fraud/mortgage-fraud https : //www.fbi.gov/video-repository/newss-mortgage-application-fraud/view https : //www.consumerfinance.gov/complaint/ https : XXXX https : XXXX XXXX : ~ : XXXX % XXXX % XXXX % XXXX % XXXX % XXXX % XXXX % XXXX % XXXX.
In XXXX of XXXX when the loan was transferred to Shellpoint servicing we were assisted by a very helpful customer service rep who explained that the amount owed was for XXXX and also XXXX. He noted that there was a payment in a holding account that had not been applied. He stated he would request that it be applied correctly post the recent transfer from XXXX. He confirmed at the end of the call that the account was current and the next regular monthly payment was due on XX/XX/XXXX.
We explained to the customer service rep that we were reporting XXXX for chronic assessment of late fees on payments that were actually received on time. This call should be on record at XXXX for your review. At the close of the call I reported concerns regarding the misapplication of payments and the errors leading to the false reporting of a late payment ( 30 days ). It was also reported to the XXXX credit bureaus in XX/XX/XXXX. XXXX has at this time accepted the complaint and removed the late payment reported by XXXX as not accurate for XXXX of XXXX.
In XXXX we received a new notice from Fay servicing indicating that the account had once again been transferred to a new company after being serviced by XXXX for only XXXX month. Our next payment due for XXXX was due on XX/XX/XXXX. The only amount that should have been due was the regular monthly payment.
However, when the statement was received at our home it indicated that we owed not only XXXX months totaling {$4600.00} but also an additional {$2500.00} in interest for a total amount due of {$7200.00}!!!
When we called to determine how this was possible we were told to " disregard '' the interest but the customer service rep insisted that we owed XXXX months payments which is inaccurate. He then instructed us to reach out to XXXX.
At the time of the loan transfer to XXXX, the original statement indicated that we owed for XXXX and XXXX ONLY. This was paid and we were told the account was current. We were NEVER told that any monies were still owed from XXXX which is when the loan was owed by XXXX.
When we called Shellpoint to understand how it is possible the loan was transferred to Fay Servicing with inaccurate balance information, we were told that the payment made during the Shellpoint customer service call in XXXX was applied to an outstanding XXXX payment that was not paid to SLS which is not accurate. In addition to it not being accurate, it is illegal to collect monies from any entity for payment toward a debt on a statement and apply the payment to another " debt '' that was not reported or being collected at that time. The initial statement from XXXX did not indicate ANY balance due for XXXX so how can you collect the money and apply it to a XXXX payment that is reportedly overdue but wasn't even accounted for on ANY statements.
We have observed many irregularities that raise red flags regarding the integrity of transactions with the companies servicing this loan. We take this matter very seriously and believe it is crucial to address these issues promptly to avoid any potential repercussions.
We kindly request the following : XXXX. Please send a copy of payment history on record of all payments paid to XXXX at the time of the transfer of the loan to XXXX.
XXXX. Please send a copy of the promissory Note and all documents transferred at the time this loan was purchased from both XXXX and XXXX.
XXXX. Please send a new statement reflecting the accurate amount owed. We owe for XXXX and XXXX only.
At this time we owe XX/XX/XXXX and also XX/XX/XXXX ONLY. A statement reflecting this accurate amount would be appreciated as we have this matter thoroughly investigated and seek legal action and representation. Given our ongoing stressful experience with requesting our payments be applied correctly We will not submit ANY payments at this time given the erroneous statement ( XXXX ) issued. When we called Fay Servicing to explain the concerns regarding the alleged amount owed on the initial statement we were told to " disregard '' the interest charge of over $ XXXX on the original statement. The customer service rep then confirmed that although that could be disregarded, he insisted that we still owe for XXXX months ( XXXX and XXXX ) which we do not. He advised that we contact XXXX directly because XXXX has no record of payments for XXXX or XXXX.
XXXX is a fraudulent company. Companies who purchase fraudulently managed loans and attempt to collect monies that were not applied, that company is now participating in their fraud.
We are asking that XXXX XXXX provide a new statement immediately reflecting what is actually owed and not what is owed according to a fraudulent company that doesn't apply submitted payments. We plan to pursue this investigation to the fullest extent of the law.
Thanks in advance for your attention to this matter.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - ATTN : BBB XXXX CO FAY SERVICING CONSUMER FINANCIAL PROTECTION BUREAU XXXX XXXX We are asking that XXXX Services for XXXX THIRD time to provide a new statement immediately reflecting what is actually owed and not what is owed according to a fraudulent company that doesn't apply submitted payments. We plan to pursue this investigation to the fullest extent of the law.
RE : FAY SERVICING ACCOUNT XXXX This correspondence is being sent to confirm that I, XXXX XXXX XXXX owner of the property located at XXXX XXXX. XXXX XXXX, XXXXXXXX XXXX XXXX, received correspondence from Fay Servicing dated XX/XX/XXXX to my home on XX/XX/XXXX and the correspondence indicates that review of loan records indicates that on XX/XX/XXXX XXXX XXXX XXXX XXXX over the loan referenced in the original complaint.
SLS as we know underwent transformation in the following year after facing multiple lawsuits for fraudulent business practices with the most recent class action lawsuit being filed XX/XX/XXXX. Please see attached for your reference in the zip file.
XXXX serviced this loan from XX/XX/XXXX to XXXX of XXXX. Multiple times payments were submitted on time and in full however XXXX would NOT apply the payment fully and XXXX to the account holder would have monies in an account where the monies had not been applied only to have a reason to report the payment as late. Once I realized this fraudulent practice was occurring given as a homeowner for over 10 years I have NEVER experienced issues with submitting payments on time hence reflected in my credit history and my ability to qualify for these loan amounts in XXXX. I have no access to SLS account to send any statements to reflect what was paid on time and will not allow any companies to place the burden of proof on me to do so given that when my concern was taken to the credit bureau ( XXXX ) the dispute was changed by XXXX to reflect payments were in fact ERRONEOUSLY reported late or not paid. The last payment that was made to XXXX was XX/XX/XXXX. ( See credit report XXXX files in zip file confirming that XXXX contacted SLS after not XXXX BUT XXXX disputes regarding their misreporting and not applying payments and they were BOTH changed. ) Therefore when the account was then bought by XXXX the mortgage due was for XXXX and XXXX. On a recorded line I spoke to a representative explaining how elated I was that my account would now be serviced by XXXX because I have NEVER since having my mortgage account with Shellpoint which also originated at the time of the purchase of this property had any issues with accurate reporting. This call was recorded and can be reviewed. I indicated that working with XXXX had been a nightmare and that their company is blatantly robbing individuals and this customer service rep made a comment that confirmed that was XXXX of the reasons they were going out of business on a recorded line. He told me he saw my XXXX payment was in the system and " unapplied '' but had not been applied. He assured me it would be applied to the XXXX payment and he also took the XXXX payment as well on a recorded line. In addition the original statement that was sent to my home for payment to XXXX DID NOT REFLECT ANY MONIES OWED FOR XX/XX/XXXX. It is fraudulent to collect monies on a recorded line indicating that they will be applied to the balance owed that is reflected on the statement but then apply them to a " balance owed '' that is not reflected on the statement.
XXXX XXXX The correspondence received to my home on XX/XX/XXXX from Fay Servicing confirms in writing that the payment that was removed from the unapplied funds on XX/XX/XXXX during my call with the Shellpoint Rep was in fact applied to the XX/XX/XXXX payment. It is fraudulent to collect monies and ask for payment authorization for what is reflected on a statement and then apply them to another loan payment that was due to the previous servicing company and NOT inform the payer where their monies are being applied.
XXXX XXXX indicates that on that call the monies were transferred from the unapplied account and I paid the remainder of {$55.00} on XX/XX/XXXX which was used to complete the XX/XX/XXXX installment. This should not have been applied to an installment that was found to be falsely reported as not paid or late and has been changed by XXXX. Failure of XXXX to communicate this to XXXX is a major problem however I have now shared correspondence in the zip file that is important for Fay servicing to note that is being collected even though the credit bureau investigated this false information reported to XXXX and removed it.
Furthermore it was not reflected in the original statement sent to me. Also your review of what occurred on the call is missing additional information. On that day I also paid the full amount due for my mortgage in excess of {$4000.00} and that payment was applied appropriately. The call ended with the next payment being owed for both the XXXX and Mortgage account in XXXX for XX/XX/XXXX payment.
Not once was I EVER informed that the payment being moved from the unapplied account was being applied to the payment that was not actually owed to the fraudulent company that is SLS. I confirmed with the agent that everything was now up to date which he confirmed.
I then submitted a payment for XX/XX/XXXX on XX/XX/XXXX for the full installment due in XXXX as reflected on the statement and in the account online which of course I no longer have access to prove. However I have added a copy of my bank statement showing both payments paid. The account did not reflect that any money was past due to XXXX when the XX/XX/XXXX installment was made and it did not EVER indicate that any payment I submitted was applied to an old installment falsely reported as unpaid in XXXX of XXXX to fraudulent SLS.
In addition I want to inform you that when XXXX was taken over by XXXX I had a VERY difficult time accessing the HELOC account because the merge of the XXXX accounts i.e. my already established mortgage account with Shellpoint and the newly transferred XXXX was NOT seamless. As I attempted to log in I was only able to see the mortgage account. I called to report this as well on several occasions to ensure it was addressed.
To date XXXX XXXX is fraudulently reporting the following information that is being investigated by XXXX and XXXX XXXX XXXX The HELOC was serviced by XXXX from XXXX of XXXX. That is incorrect and although I have a mortgage account with Shellpoint that has been serviced since XX/XX/XXXX, XXXX did NOT service the HELOC before XX/XX/XXXX. Therefore XXXX should not report payment credit history for a loan that was not serviced by them at the time of the reported payment or nonpayment. Furthermore if XXXX does report the payments that were issued to XXXX during the reporting period because XXXX is now the company owner, then the reported payments should reflect the results of the dispute that found XXXX to have misreported a late payment. There are XXXX disputes for both XXXX and XXXX that resulted in XXXX removing the late payment BUT Shellpoint is still reporting a late payment for XX/XX/XXXX when XXXX was not the loan servicer and that is an error that is currently causing my XXXX XXXX to be nearly XXXX points lower than XXXX.
XXXX. XXXX reported that the payment for XXXX was paid and applied however there is no report of payment for either XXXX or XXXX on the XXXX and XXXX report. If the document that Fay servicing has now sent reporting that XXXX collected a payment for XX/XX/XXXX installment and XX/XX/XXXX installment then why are those payments not being reported to the credit Bureau? It appears as though the data listed is from XXXX which indicates that XX/XX/XXXX was late or missed and XX/XX/XXXX was paid on time. XXXX has again removed the report of any late payments because that was fraudulent reporting and SLS removed it.
XXXX. XXXX is still reporting to the credit Bureaus that the loan is being serviced by them and not reporting any payments since XXXX! In addition it is being reported that a payment already found to be removed due to a credit investigation is still being reported. I have reported all of this to the consumer financial protection bureau, XXXX, and XXXX. XXXX did not service this loan since XXXX, the XX/XX/XXXX installment was paid as was XXXX and XXXX is a fraudulent company communicating erroneous information and clearly XXXX has not been made aware of the removal of their false reporting and is still sharing false information which is unacceptable.
Please Be Advised of the FACTS : XXXX. Since servicing the loan in XX/XX/XXXX it became glaringly obvious that XXXX was attempting to scam consumers and I reported it multiple times on a recorded line. I disputed their fake fraudulent tactics with XXXX and the XXXX credit report reflects that the installments that they attempted to claim were not paid or late were removed from the report and I was found to be correct. XXXX received all installments from me and all payments were paid through XX/XX/XXXX.
XXXX. There is no statement in the records that reflects that XXXX was to apply any payments from a reported nonpayment in XX/XX/XXXX from the fraudulent company XXXX. It is fraudulent to collect monies from any entity and apply the authorized payment to some other non disclosed amount of owed monies. I am not in possession of ANY statement ever issued informing me that monies taken were being applied to XX/XX/XXXX. That is illegal.
XXXX. As of XX/XX/XXXX XXXX has XXXX fraudulently reporting to the credit bureaus since XX/XX/XXXX the HELOC account now owned by Fay Servicing XXXX XXXX by them since XX/XX/XXXX which is also inaccurate information. XXXX is currently reporting XX/XX/XXXX installment as paid late or unpaid even though XXXX found through investigation XXXX did in receive payment on time. It is illegal and false reporting information for XXXX to indicate servicing the XXXX since XX/XX/XXXX. This is been formally reported and is currently being investigated by XXXX and XXXX.
On XX/XX/XXXX XXXX XXXX confirmed that the loan will now be serviced by their company after only 2 months of being serviced by XXXX. Fay Servicing has not reported being the owner or new servicing agent to the credit bureaus based on my review. However XXXX is still fraudulently reporting to XXXX and XXXX that they are servicing the loan and have been since XXXX which is false.
I will not submit any payments to Fay Servicing if their accounting continues to reflect the trickle down of PROVEN fraudulent business practices. I am fully aware that loans are purchased by different companies because by law debt collection for these contractual agreements can not extend beyond XXXX years.
So therefore all of these servicing companies sell loans to each other and collect money that was never originally loaned by them. The sale of promissory notes and lender information is not complicated to follow and I have followed it for years. HOWEVER, when a new servicing company purchases a loan, my recommendation is to service your customers with fair and honest business practices and do not attempt to collect monies that reflect the fraudulent business practices that the previous company reported.
When I repeatedly contacted XXXX nearly XXXX months ago now asking for a new statement that reflects what is truthfully owed i.e. XXXX, XXXX, and XXXX installments for XXXX, I was dismissively told that according to XXXX documents Shellpoint applied the XX/XX/XXXX installment to a past due XX/XX/XXXX installment and therefore I owe XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and in addition XXXX added on over {$2000.00} fee as well.
When asked what this was for I was told " don't worry about that ''. I was instructed for payments to any companies that are attempting to fraudulently collect debts from a company that has been already investigated and found to not appropriately apply funds and has had to pay out those monies in lawsuits.
I will not submit any payments as I do not trust the process for any companies that are selling loans although it is legal and not keeping accurate documentation of payments applied and also having ongoing current misreporting to XXXX additional credit bureaus at this time.
I have reported this as well to the XXXX XXXX XXXX and filed an official complaint. I have also submitted XXXX separate complaints to investigate why XXXX is providing false reporting servicing for this account that XXXX serviced this loan since XX/XX/XXXX.
Over XXXX days ago a request was made to XXXX XXXX submit payments posted and receive an explanation as to why XXXX XXXX would have been informed that any money was due for XXXX when it is not. We have received no answer to this as of now.
In simple terms we are asking for the removal of the additional XX/XX/XXXX payment that was inaccurately reported to the credit bureau by XXXX. We are asking that you send a revised statement that includes payment owed for XX/XX/XXXX XX/XX/XXXX and XX/XX/XXXX as soon as XXXX is the third official request from myself and the additional property owner XXXX XXXX to submit an accurate statement of what is owed at this time in accordance with investigation results that you can review.
Specialized Loan Servicing, XXXX ( XXXX ) has been involved in several lawsuits related to mortgage fraud, including : -Unlawful mortgage assessment -A class action lawsuit was filed against SLS for retroactively assessing fees and interest on second mortgages. The plaintiffs alleged that XXXX violated the Fair Debt Collection Practices Act ( FDCPA ).
-False credit reporting XXXX XXXX XXXX a {$2.00} XXXX judgment against XXXX after the company reported a bankruptcy on his credit report for over 100 days. The bankruptcy was actually filed by an ambulance company in North Carolina, and XXXX ignored information from its vendor that indicated this.
-Negligent bookkeeping -A couple from XXXX, XXXX filed a lawsuit against XXXX after XXXX company added over a quarter of a XXXX dollars to their mortgage balance. The couple alleged that XXXX 's negligence led to their bankruptcy and the short sale of their home.
-Fraudulent insurance In the case of XXXX v. XXXX XXXX XXXX, XXXX XXXX the plaintiffs alleged that XXXX fraudulently placed expensive insurance on their property to secure a lender 's collateral. The plaintiffs claimed that this caused a false default on their loan, which led to foreclosure proceedings, harassing phone calls, and false credit reporting.
|
| Consumer Consent Provided |
Consent provided
|
|
|
7215068
|
2023-07-06
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2023-07-06
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-07-06
|
| Consumer Consent Provided |
Other
|
|
|
6569707
|
2023-02-14
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2023-02-14
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-02-14
|
| Complaint What Happened |
On XX/XX/XXXX I received my escrow analysis for a property I own under an LLC, the loan is serviced by Fay Servicing. I noticed that the escrow analysis was using an amount for the Homeowners insurance which was incorrect. It showed an escrow shortage and increase to my monthly payment which was wrong. I called and advised them that the insurance amount was reduced in XX/XX/XXXX to {$940.00} dollars from the initial {$3100.00} amount that I had paid for insurance at closing on XX/XX/XXXX. The associate said they would submit this information and do a re-analysis. On XX/XX/XXXX I received another escrow analysis, this time instead of reducing the insurance amount, they decided to add another insurance disbursement of {$3100.00}, essentially doubling the escrow shortage. I was astonished at the level of incompetence here. Not only should the shortage not have increased, I am owed a refund for an escrow surplus since I reduced the insurance premium and have been making escrow payments based on a higher premium amount. Fay Servicing has made numerous errors on my loans and never seem to address them timely or correctly.
|
| Consumer Consent Provided |
Consent provided
|
|
|
7409836
|
2023-08-17
|
Incorrect information on your report
|
Credit reporting, credit repair services, or other personal consumer reports
|
|
| Issue |
Incorrect information on your report
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Credit reporting, credit repair services, or other personal consumer reports
|
| Sub Issue |
Information belongs to someone else
|
| Sub Product |
Credit reporting
|
| Date Received |
2023-08-17
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-08-17
|
| Consumer Consent Provided |
Consent not provided
|
|
|
5905292
|
2022-08-22
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-08-22
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-09-12
|
| Complaint What Happened |
My mortgage was transferred to fay serving in XXXX of XXXX I got behind all of that year but made payment arrangements in XXXX of that year. I had 1 year to get caught up witch I did but they said that when my acct was transferred they payed my escrow in advance and that I needed to pay my current escrow and the one that was payed so ever since they I have been pay on the advance and when I call they keep tell me I have two years to pay that money back. My payment went up ever year and they keep tell me I am paying the extra money for the advance. My home owner insurance wasXXXX in XXXX and taxsXXXX my payment was XXXX and only XXXX went to principal and XXXX to interest the rest went to escrow. I keep calling every year and they keep tell me the same thing another 2 year to pay it back. My interest is 3.37 %. My payment this year is XXXX. I am so stressed about this can someone please help me understand. Thanks
|
| Consumer Consent Provided |
Consent provided
|
|
|
9940394
|
2024-08-27
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Foreclosure
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-08-27
|
| Submitted Via |
Phone
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-09-03
|
| Consumer Consent Provided |
N/A
|
|
|
5782681
|
2022-07-18
|
Closing on a mortgage
|
Mortgage
|
|
| Issue |
Closing on a mortgage
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-07-18
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-07-18
|
| Complaint What Happened |
I originally had a 2nd mortgage thru mortgage lenders, over the years it was sold numerous times the last company to be FAY servicing, theyve been paid off for over 2, years but havent released the lien, every time I contact them, they put the request into that department but nothing happens, Ive sold the home, money is being held in escrow now for a year, I have a letter stating its paid in full but thats not good enough for the county or title company, any help would be great
|
| Consumer Consent Provided |
Consent provided
|
|
|
6070465
|
2022-10-10
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-10-10
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-10-10
|
| Complaint What Happened |
Fay Services is supposed to escrow for both taxes and insurances for my account. They have been taking money out of my account for escrow and not paying my insurance or taxes. After a long battle with Fay Services they sent me a check for my homeowners insurance. At first they said my account has only been escrowed for taxes and that's why insurance is not being paid. Now they are saying my account is set up for insurance but not set up to escrow taxes. According to my closing documents and the people serviced my loan before them my account is supposed to be setup to escrow both INSURANCE AND TAXES. They are illegally not following the rules of the closing documents which states that escrow be collected for BOTH HOMEOWNERS INSRUANCE AND TAXES. This company has not followed the rules of the closing documents and are choosing to break the law. I've asked them to review the documents and update the account and do an escrow analysis a lot of times but they refuse to do that and instead make excuses and lie and say the account has not been setup for escrow. Instead of reviewing the closing documents that I signed and setting up the account correctly By law they are not allowed to setup the account the way that they choose to, they have to follow the documents that I signed. Now they have sent me an escrow surplus check of XXXX XXXXand cant tell me if its money that actually is owed to me or if its a mistake on their end and they should have kept it in escrow.
|
| Consumer Consent Provided |
Consent provided
|
|
|
6020932
|
2022-09-26
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-09-26
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-09-26
|
| Complaint What Happened |
Fay Servicing LLC ( a mortgaging servicing company ) has been collecting money in escrow for my homeowners insurance, however, they have not paid the policy after both myself and the insurance company has contacted them on several occasions to pay the policy. The policy was in jeopardy of lapsing so I had to pay the home owners insurance policy myself although I also have been paying Fay Services to pay the premium.
According to my closing documents the servicer is supposed to collect both taxes and insurance in escrow. The previous servicers have done this, however Fay Services LLC has decided they are above the law and refused to pay my home owners insurance and appears to just be pocketing the money. RESPA requires banks to make timely payments to insurance companies if they are collecting for escrow, this company has decided they do not want to do that.
Every month Fay Services charges me XXXX for my escrow account for taxes and insurance as indicated by the line item on my mortgage statement.
|
| Consumer Consent Provided |
Consent provided
|
|
|
5790800
|
2022-07-20
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-07-20
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-07-20
|
| Complaint What Happened |
I believe the servicer is intentionally creating obstacles to try and get me to fall into default. Ultimately they want to steal my property.
The servicer Fay Servicing requires me to reset my password almost every other month when I log in to try and pay my loan. They also have rather ridiculous rules for that password, and do not allow me to reuse any from the past. I am a mature individual who can sometimes have some memory concerns. I contacted the servicer to request an exception be made for my account ( I know this is possible ) they said that was not their policy. I requested to speak with a manager who again reiterated that was the policy and if I had trouble remembering I could always " write down the password ''.
Other industries when a customer does not like the business policy they can do business with someone else. I no longer wish to do business with this servicer who will continue to place unfair and abusive ( to elderly, memory impaired ) customers, which they suggested that I could always " just refinance '' the loan to do business with a more consumer friendly company. I think that this is just another attempt ( by locking me out of my account ) to cause my loan to go into default, which is where a servicer can really make a nice profit off the default fees.
There should be no problem in allowing me to either a. reuse a password, or b. set an exception to my account where this password does not change every other time I go to pay online. Perhaps a note from a government regulator may suggest revisiting their policy.
|
| Consumer Consent Provided |
Consent provided
|
|
|
10439371
|
2024-10-13
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Escrow, taxes, or insurance
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-10-13
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-10-13
|
| Consumer Consent Provided |
Consent not provided
|
|
|
7151028
|
2023-06-22
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2023-06-22
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-06-22
|
| Complaint What Happened |
XXXX XXXX XXXX has had my loan since XXXX ( most recently ), till today/ where they transferred it to Fay Servicing. Prior to this it was with FAY and then prior to this, transferred to XXXX 2nd time. and now with fay again. 2nd time. They do this every time i am late on payments. a few months, where i paid on the XXXX rather then before the XXXX. Loan is current.
Fay Servicing is a sister company to XXXX. It seems they do this swap every time there an ability to go after the owner for foreclosure or late payment or in my case, forced placed insurance. Their reviews online have made me extremely wary to what predatory practice they are trying to achieve.
I can't get homeowners insurance without purchasing a new roof ( unattainable at this time ), I agreed to XXXXXXXX XXXX forced lender insurance policy amount. They sent me the declaration and all was fine. Till today, I find out XXXX XXXX ' my mortgage to Fay service , and they aren't accepting that declaration. I have a letter from XXXX stating ' they purchased " this insurance. if its purchased with my escrow money, it should be honored.
I have to go thru the entire process again. I will be backlogged with payments since XXXX XXXX when my Wind insurance lapsed. I have XXXX policies XXXX XXXX, and XXXX ( forced place ). or i did. Fay is now telling me they will need to re address this. Call me 'psychic ' but, i can see what they are going to try and do... create a Wind policy that is going to be so exhorbitantly high that i won't be able to pay it. Wind policy from XXXX was XXXX which is a decent amount.
I am asking for help to stop this kind of predatory behavior. I have been in this house 20 years. Sometimes struggling. and asking that Fay honor the declaration / insurance that rushmore bought.
|
| Consumer Consent Provided |
Consent provided
|
|
|
6485028
|
2023-01-25
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2023-01-25
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-01-25
|
| Complaint What Happened |
RESPONDENTS FAILURE TO TIMELY INVESTIGATE NOTICE OF ERROR UNDER 12 C.F.R. 1024.35 ( e ) Pursuant to 12 C.F.R. 1024.35 ( e ) ( 3 ) ( i ) ( A ), a servicer must comply with the requirements of 12 C.F.R. 1024.35 ( e ) ( 1 ) not later than seven days ( excluding legal public holidays, Saturdays, and Sundays ) after the servicer receives the notice of errors for errors asserted under paragraph ( b ) ( 6 ) of 12 C.F.R. 1024.35. ( Emphasis added ).
12 C.F.R. 1024.35 ( e ) ( 1 ) provides that ; 1 ) a servicer must respond to an NOE by either correcting the error or errors identified by the borrower and providing the borrower with a written notification of the correction, the effective date of the correction, and contact information, including a phone number for further assistance ; or by 2 ) conducting a reasonable investigation and providing the borrower with written notification that includes a statement that : i ) the servicer has determined that no error occurred ; ii ) a statement of the reason or reasons for this determination ; iii ) a statement of the borrowers right to request documents relied upon by the servicer in reaching its determination ; and iv ) information regarding how the borrower can request such documents, and contact information, including a phone number, for further assistance.
On XX/XX/2022, the Consumer XXXX XXXX XXXX ( the Consumer ) submitted a notice of error ( NOE ) to RESPONDENT Fay Servicing , LLC ( RESPONDENT or FAY ) in which RESPONDENT received on XX/XX/2022 at the address that it has designated to receive such NOEs. The XXXX XX/XX/2022 XXXX was due to RESPONDENTs failure to investigate the XXXX previous NOE. A copy of the Consumers XX/XX/2022 XXXX ; and a copy the United States XXXX services XX/XX/2022 delivery confirmation of same, are attached hereto as Exhibits A and B, respectively.
On XX/XX/2022, RESPONDENT provided an untimely response to XXXX XX/XX/2022 XXXX. Clearly, RESPONDENT waited approximately 21 days ( excluding weekends and holidays ), before it decided to respond to Consumers XX/XX/2022 notice of error not 7 days as required by Regulation X, 12 C.F.R. 1024.35 ( e ) ( 3 ) ( i ) ( A ). A copy of RESPONDENTs XX/XX/2022 untimely response to the Consumers XX/XX/2022 XXXX, is attached hereto as Exhibit C.
Despite receiving Consumers NOE on XX/XX/2022, XXXX XXXX intentionally failed to provide a timely and reasonable investigation of Consumers XX/XX/2022 NOE. More specifically, XXXX failed to timely investigate and/or correct any of the errors asserted in the Consumers XX/XX/2022 Inquiry, and to do so within the applicable timeframe of seven ( 7 ) business days of receipt of such NOE- as required by 12 C.F.R. 1024.35 ( e ) ( 3 ). Instead, RESPONDENT, during those seven business days, simply ignored the 7-day dead line to investigate the XXXX XX/XX/2022 NOE.
As a result of FAYs violations alleged herein, Consumer has suffered actual damages in the form of emotional distress, anxiety, the constant fear of losing her home, worry, embarrassment, and anguish because of the ongoing failures of the RESPONDENT to timely address Consumers XX/XX/2022 XXXX.
|
| Consumer Consent Provided |
Consent provided
|
|
|
6206648
|
2022-11-15
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-11-15
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-11-15
|
| Consumer Consent Provided |
Consent not provided
|
|
|
5185317
|
2022-02-04
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Older American, Servicemember
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-02-04
|
| Submitted Via |
Phone
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-02-16
|
| Consumer Consent Provided |
N/A
|
|
|
7951842
|
2023-12-06
|
Struggling to pay mortgage
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2023-12-06
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-12-06
|
| Complaint What Happened |
The following email was sent to my mortgage servicer : Fay Servicing XXXX, I just received a notice that my request for loss mitigation has been denied again without any written or verbal explanation. This is my second attempt to ask Fay Servicing for assistance as I am vehemently trying to catch up with my mortgage payments due to unforeseenhardship circumstances. It should be noted that I am a XXXX XXXX veteran who recently underwent spinal/lower back XXXX, which rendered me unable to work for an extended period of time.
It should also be noted that Fay Servicing sent the denial letter regarding my first loss mitigation application when it was nearly at the end of the XXXX expiration period. Further, Fay Servicing failed to address my subsequent appeal in writing.
I understand that Fay Servicing has had a troubled history of " failing to provide mortgage borrowers with protections against foreclosure. '' See story : https XXXX XXXX
Unfortunately, Fay Servicing 's latest action leaves me with no choice but to seek remedy with the CFPB ( Consumer Financial Protection Bureau ) since you are unwilling to help me with theforeclosure protection and loss mitigation under the XXXX XXXX XXXX Reform and Consumer Protection Act. A copy of this email shall be furnished to the aforementioned agency. Thank you.
|
| Consumer Consent Provided |
Consent provided
|
|
|
5206553
|
2022-02-10
|
Closing on a mortgage
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Closing on a mortgage
|
| Timely |
No
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-02-10
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-02-10
|
| Complaint What Happened |
To date, either myself, my husband, representatives from my attorney 's office or representatives from my title company have reached out to a variety of staff in the commercial section for resolution regarding a loan in XXXX, VA. This loan is paid in full and I need a Certificate of Satisfaction and letter indicating the loan is paid in full in order to sell this property. This loan was paid XX/XX/XXXX. Closing was due to occur yesterday, XX/XX/XXXX. We have called ( the latest phone call was today to XXXX XXXX both by my husband and by my attorney 's office ) multiple times and emailed at least 15 times between myself and my attorney 's office and an additional 5 times minimum by my title company.
I personally reached out on XX/XX/XXXX by phone call and spoke to XXXX XXXX requesting a Certificate of Satisfaction for the aforementioned loan and a letter indicating that the loan is paid in full. This has not been filed with the independent City Clerk 's office. I called again on XX/XX/XXXX and spoke to XXXX XXXX. I emailed her the request for release and indicated therein that pursuant to Section 55.1-339 of the Code of Virginia that Fay Servicing is required to record a valid certificate of satisfaction within 90 days. This deadline was XX/XX/XXXX. In between I called and attempted to leave a message for XXXX XXXX on her direct line, but this mailbox was full. Both myself and my attorney 's office called back ( together ) on XX/XX/XXXX and spoke to XXXX XXXX regarding this matter. In this 2 hour phone call, XXXX left us on hold for 45 minutes to only come back and indicate that this would move to XXXX XXXX, his supervisor and " would be expedited. '' I called later on XX/XX/XXXX to speak directly to XXXX XXXX to get a timeline as the release needed to be notarized and overnighted to arrive by Monday, XX/XX/XXXX to meet the deadline for closing. She told me " there's an exception to this lien release '' and that you're " working on it. '' I asked if the release would be done by XX/XX/XXXX and was told no and something was wrong with the person with the power of attorney was unavailable. I requested an email summary of our phone conversation, but was never provided one. Also on XX/XX/XXXX, to follow up from our phone call, my attorney 's office emailed the following : XXXX XXXX, XXXX XXXX, the general inbox of XXXX, XXXX XXXX and XXXX XXXX with the subject line " URGENTXXXX UNRELEASE LIEN ". This email ( copied below ) summarized the phone call indicating that no resolution has been reached. My attorney 's office called again on XX/XX/XXXX seeking resolution to be given no indication that anything had changed. Much has been pushed off on the mysterious " lien department '' that no one can contact and their contact information can not be provided to me, as the customer, or to my legal representative.
My attorney 's office emailed XXXX XXXX, XXXX XXXX, XXXX XXXX and XXXX XXXX XX/XX/XXXX at XXXX requesting information again about the lien release. Around the same time, XXXX spoke on the phone with both my husband and myself about this matter where he provided me with blame and buck passing to XXXX and no indication as to why or when this would be resolved. It seemed more important to XXXX that the email from the attorney 's office was sent to a mistyped email address to XXXX XXXX ( XXXX ) than anything about resolving this issue. He said XXXX was working on it. My attorney 's office has sent emails with a read receipt, so we know that each of these staff members have read our emails. Further, my attorney 's office has called and spoke to XXXX today who indicated that he has no recollection of the 2 hour phone call on XX/XX/XXXX. At XXXX XX/XX/XXXX, my attorney 's office representative who was left on hold for nearly 2 hours, spoke to XXXX again who assured her that XXXX were " actively working on the issue '' and he would walk to XXXX 's office about the matter himself. This matter has been " expedited '' since XX/XX/XXXX and XXXX told my attorney 's office he will update everyone. I also reached out to XXXX XXXX, Assistant Vice President - Complaints Manager outlining this entire ordeal. Her reply is below : " I am so sorry to hear about this and would like to extend my contact information and let you know I will be personally following up on this. I will also assign staff to issue you a written response as well. My email at is XXXX. I will be forwarding this message for staff assignment first thing in the morning and will escalate this issue and let you know what I find. Again, my sincerest apologies. '' I emailed her XX/XX/XXXX with the pertinent details along with an attachment of the request for the certificate of satisfaction. As of the morning of XX/XX/XXXX, the following has been done either by me or my attorney 's office : XXXX. I have emailed XXXX XXXX again asking who this case was assigned to and their contact information and requested a resolution date.
XXXX. My attorney 's office emailed XXXX XXXX, who assured us that there would be a next step, to see where this resolution is at.
There has been no response as of XX/XX/XXXX at XXXX.
I will attach our requests for the lien release. According to the Code of Virginia, there are fines involved by the lienholder 's failure to record a certificate of release within 90 days.
|
| Consumer Consent Provided |
Consent provided
|
|
|
4785706
|
2021-10-06
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2021-10-06
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2021-10-06
|
| Complaint What Happened |
XXXX XXXX, XXXX. and XXXX attorneys at law represent XXXX XXXX XXXX in foreclosure case no. XXXX XXXX XXXX XXXX FL. We also submitted a modification package to Fay Servicing on XX/XX/XXXX2021 which was denied on XXXX/XXXX/2021. Attached please find our appeal of that denial letter dated XXXX XXXX, 2021. We recently called Fay Servicing to follow up regarding reply to our appeal letter because we received no reply. On XX/XX/XXXX21 our office spoke to XXXX XXXX ID # XXXX and she explained that Fay Servicing was not going to reply to our appeal letter.
|
| Consumer Consent Provided |
Consent provided
|
|
|
4317401
|
2021-04-21
|
Written notification about debt
|
Debt collection
|
|
| Tags |
Older American
|
| Issue |
Written notification about debt
|
| Timely |
Yes
|
| Company |
Fay Servicing, LLC
|
| Product |
Debt collection
|
| Sub Issue |
Didn't receive enough information to verify debt
|
| Sub Product |
Mortgage debt
|
| Date Received |
2021-04-21
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2021-04-21
|
| Complaint What Happened |
I received a matured notice by XX/XX/XXXX want XXXX try talking to company tried to get a extension but told no want there money I dont have that kind of money in such a short time
|
| Consumer Consent Provided |
Consent provided
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10768501
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2024-11-12
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Trouble during payment process
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Mortgage
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| Issue |
Trouble during payment process
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| Timely |
Yes
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| Company |
Fay Servicing, LLC
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| Product |
Mortgage
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| Sub Issue |
Payment process
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| Sub Product |
Conventional home mortgage
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| Date Received |
2024-11-12
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| Submitted Via |
Web
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| Company Response |
Closed with explanation
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| Consumer Disputed |
N/A
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| Date Sent To Company |
2024-11-15
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| Complaint What Happened |
email I sent to Fay Servicing on XX/XX/year> : I have been trying to resolve this issue with your customer service department since XXXX. On XX/XX/year> XXXX finally called back and stated that when Fay Servicing received the loan from XXXX XXXX, there was outstanding interest and she was to send me a document showing the outstanding interest. As of today, XX/XX/year>, I never received any such document.
Attached you will find the last statement from XXXX XXXX dated XX/XX/year> with the next payment due XX/XX/year>. The principal balance after the XX/XX/XXXX payment was {$330000.00} and as you can see, there is no outstanding or unpaid interest balance. The loan was completely current with automatic draft from my bank account on the XXXX of every month.
The loan was transferred to Fay Servicing with a due date of XX/XX/year> and with automatic drafting instructions for XX/XX/year> and thereafter. For whatever reason, you chose not to draft until XX/XX/year>. The drafted payment in XXXX and XXXX were applied only to escrow and interest. Nothing was applied to interest. I have been trying to get an answer to this for the past three months and no one could explain it to me or provide any documentation for the reason. I understand that interest on this loan is calculated on a daily basis. Below you will see a chart of what I think the allocation of monthly payments should have been, based on daily interest, between principal, interest and escrow.
Date Paid Int % Payment Escrow Interest Principal Balance XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX The immediate impact on my principal balance is approximately {$1200.00} and much higher over the remaining term of the loan.
I expect that I am not the only borrower impacted by this error which probably amounted to hundreds of thousands if not millions of dollars to the detriment of your borrowers.
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| Consumer Consent Provided |
Consent provided
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9865684
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2024-08-20
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Trouble during payment process
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Mortgage
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| Issue |
Trouble during payment process
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| Timely |
Yes
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| Company |
Fay Servicing, LLC
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| Product |
Mortgage
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| Sub Issue |
Trying to communicate with the company to fix an issue while managing or servicing your loan
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| Sub Product |
Conventional home mortgage
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| Date Received |
2024-08-20
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| Submitted Via |
Web
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| Company Response |
Closed with explanation
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| Consumer Disputed |
N/A
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| Date Sent To Company |
2024-08-20
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| Consumer Consent Provided |
Consent not provided
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5839364
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2022-08-03
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Trouble during payment process
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Mortgage
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| Issue |
Trouble during payment process
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| Timely |
Yes
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| Company |
Fay Servicing, LLC
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| Product |
Mortgage
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| Sub Product |
Other type of mortgage
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| Date Received |
2022-08-03
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| Submitted Via |
Web
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| Company Response |
Closed with explanation
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| Consumer Disputed |
N/A
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| Date Sent To Company |
2022-08-03
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| Complaint What Happened |
I obtained a mortgage ( Loan # XXXX ) under the name of my LLC ( FL XXXX ) on XX/XX/XXXX from Fay Servicing. Upon closing there was a small surplus in the escrow account which was due to my XXXX in the amount of {$170.00}. Fay Servicing disbursed this overage payment and mailed it to an incorrect address on XX/XX/XXXX.
I was not made aware of this until almost one year later. I contacted Fay Servicing by phone and later by e-mail on XX/XX/XXXX regarding the issue and to please re-issue the check and send to the correct mailing address. I was told this would be processed immediately. In the coming months I made several calls and e-mails where I was repeatedly told it was " in process ''.
These are monies that are due to my LLC and are being held by Fay Servicing rather than disbursing to the borrower, which is a violation of federal law. I am requesting that the re-issued check be mailed to my correct address ASAP to avoid being in violation of the law. It has been a year and half since the original check was erroneously mailed and has been over five months since my initial inquiry, a lender should at the very minimum follow the laws governing financial institutions.
I am attaching pertinent information such as escrow activity screenshot, e-mail thread with Fay Servicing, and copy of original stale check.
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| Consumer Consent Provided |
Consent provided
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5180588
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2022-02-03
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Closing on a mortgage
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Mortgage
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| Issue |
Closing on a mortgage
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| Timely |
Yes
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| Company |
Fay Servicing, LLC
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| Product |
Mortgage
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| Sub Product |
Conventional home mortgage
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| Date Received |
2022-02-03
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| Submitted Via |
Web
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| Company Response |
Closed with explanation
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| Consumer Disputed |
N/A
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| Date Sent To Company |
2022-02-28
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| Consumer Consent Provided |
Other
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4354503
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2021-05-06
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Incorrect information on your report
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Credit reporting, credit repair services, or other personal consumer reports
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| Issue |
Incorrect information on your report
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| Timely |
No
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| Company |
Fay Servicing, LLC
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| Product |
Credit reporting, credit repair services, or other personal consumer reports
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| Sub Issue |
Information belongs to someone else
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| Sub Product |
Credit reporting
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| Date Received |
2021-05-06
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| Submitted Via |
Web
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| Company Response |
Closed with monetary relief
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| Consumer Disputed |
N/A
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| Date Sent To Company |
2021-05-06
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| Consumer Consent Provided |
Consent not provided
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