ComplaintsforFay Servicing LLC

• Initial Complaint

  07/11/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Foreclosure and auctioneer that didn't work for people who were at auction would not allow people to sign up for auction would not allow highest bidder to have property auction was set up for one person the attorney for fay Servicing company ****** & associate little Rock ark and still do not know who this person is auction was on 17th of June 2024 at 1:30 pm at ************************ ********* TN auctioneer is *********************************

  Business response

  07/18/2024

  July 18, 2024
  
  *****************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000342808
                                  Property Address:                           1568 *****************************************************
                                  BBB Complaint Number:               21974915
  
  Dear *****************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on July 11, 2024, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you state that neither you or your ***** of ******** were allowed to discuss the account or make payment arrangements and the auctioneer did not allow some people to sign in for bidding or people with cash and/or certified money to complete the transaction. 
  
  *** acquired the loan for servicing on November 3, 2022, while the loan was contractually due for the November 1, 2022, mortgage payment. However, the current delinquency commenced with the contractual installment due for August 1, 2023. As indicated in our September 29, 2023, letter attached, the account was under an informal repayment plan. According to the terms of the plan, you were required to submit five (5) total payments in the amount of $263.24 each,from September 29, 2023, to January 1, 2024. However, *** considered the informal repayment plan broken because we never received the initial payment due on September 29, 2023. In October, *** sent the Notice of Default and Intent to Accelerate dated October 5, 2023. As of the date of the notice, the total amount required to cure the default by November 9, 2023, was $600.75. In November, *** received your loss mitigation application on November 8, 2023.However, the application was considered incomplete because we were missing evidence of your insurance coverage. It was during a telephone call on December 1, 2023,when you informed the Account Manager that your application with the ************************************ was denied because you were unemployed. During the call, the Account Manager explained that partial payments are held in an unapplied funds account until additional funds are received to complete the next payment due and once enough funds are received, the funds will be applied to the next contractual installment due. Additionally, because of your loan being in a status of active and/or pre-active foreclosure, and in accordance with policy, we were unable to accept payments for less than the full reinstatement amount unless formal payment arrangements were made between you and ***. Because the default amount was never cured, *** referred the loan to foreclosure on December 7, 2023. The loss mitigation application expired on February 7,2024, due to a significant period elapsing without us receiving all documents required for review.
  
  Our records reflect the attached Tennessee Limited ***** of ******** being uploaded to your account on or about February 20, 2024. On March 8, 2024,a third-party named ***********************, called in stating that they were interested in buying the property and wanted the payoff amount; however, they were unauthorized to discuss the account at the time of the call. As of March 13,2024, *** updated the loan information to reflect *********************** as the limited non-durable ***** of ********. Upon further review of the loan, we determined that your Account Manager received a voice mail from the authorized third-party requesting a call back to discuss the account on or about April 19, 2024. However, our contact with you and/or the authorized third-party was limited from this point forward. *** was unsuccessful in contacting you and/or the authorized third party on multiple instances from May 1, 2024, through June 7, 2024. No voice mail messages were left during our call attempts because there was no voice mail set up at the time and our records show no inbound calls being received from you and/or your ***** of ******** during this period. During the month of May 2024, the foreclosure sale date was scheduled for June 17, 2024. We recently contacted our foreclosure attorney who confirms that you and/or your representative called in on June 7,2024, to inquire about the foreclosure sale date and a possible postponement. However,there is nothing of record which would warrant postponement of the foreclosure sale date under these circumstances. It is important to understand the terms of the Notice of Sale attached expressly require full certified funds at conclusion of the auction. Additionally, we have attached a copy of the bidder sign-in sheets on the day of the foreclosure sale. At the time of the foreclosure sale, a bidder named *************************** entered a high bid; however, they then could not timely remit full certified funds at conclusion of the auction. As indicated in the Certificate of Sale attached, the property ultimately sold to the highest bidder, a third-party purchaser named ***** *** on June 17, 2024.
  
  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 (5)

• Initial Complaint

  07/01/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  An insurance settlement check in the amount of ********* has not been released to me for the initial draw, I am getting the runaround. In addition, my mortgage is not showing current in the system, I paid 11.590.00 on June 27, 2024, and there is no update in the credit bureau as well.

  Business response

  07/09/2024

  Please see the attached response.

• Initial Complaint

  06/11/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  We were in a Bankruptcy until August 1, 2023. All payments for our Trustee was made thru TSF bill pay. We received a letter from the *************** dated June 28th saying that we are to pay our mortgage starting on August 1, 2023 to ********. I paid our mortgage on 8/4/23. When I called Rushmore on 9/5/2023 to pay Septembers mortgage they told me they couldnt take it do you the loan being purchased by Fay Servicing. I proceeded to call Fay Servicing and they told me they had no information on this yet to give it 7 to 14 more days. I called on 915 they still said they had no indication that we were not out of bankruptcy yet but they went ahead and took my payment for our September mortgage payment, $1386.49. In October I called and made Octobers payment of $1386.49. I called in November to make Novembers payment and the woman I spoke to was very resistant to talk to me because she said we were still in bankruptcy I explained we arent in that I had mailed in all my paperwork to show that she said well youre not discharged yet she said I needed to hold on to my mortgage payments until they received the discharge. In January I received the discharge paperwork I proceeded on January 15 of 2024 to speak to a gentleman by the name of ****** and the bankruptcy department who said they hadnt received the discharge paperwork but he went ahead and took my payment of $4,159.47 (that covered Nov, Dec and Jan 2024). I called in Februarys payment on February 14 March is payment on March 15 April payment on the 14th maze payment on the 15th. I just found out that Fay Servicing has been reporting us to all three credit bureaus as a month behind. Ive had the trustees office get in contact with them to let them know we are not behind bankruptcy court would never of signed off on the bankruptcy and discharged us if we owed anybody money. I have sent in three different times all the supporting documents showing that I did making the payments on or before the 15th.

  Business response

  06/19/2024

  Please see the attached response.

• Initial Complaint

  06/07/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  My payment for **** was taken out twice, which ******** my bank account. I have tried several times to contact company, in which I get put on hold and forgotten about. Told it will take 10 days to get my money back. Worst company I have ever dealt with. This is also the 2nd time this has happened.

  Business response

  06/13/2024

  Please see the attached response.

  Customer response

  06/17/2024

   
  Complaint: 21816881
  
  I am rejecting this response because:`it has been taken care of, but only by my bank, which cancelled the 2nd payment. Fay Servicing did nothing except take 2 payments and their customer service was rude and very unhelpful!
  
  Sincerely,
  
  *********************

• Initial Complaint

  06/04/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Fay servicing keep claiming for the 2nd year in the row that there is shortage on escrow account and they going to add the shortage to my monthly payment and they did this last and my payment went up from $3500 to $3754 even that time I was in the middle of getting help from The state of California the Mortgage Relief Program and they give *** 42k including the 12k corporate fees for their pocket and didnt even bother to ask the State for the $9000 shortage in escrow because thats what they want my payment to go up every year to make me give up and sell my house or refinance because I have 2% interest for the life of the loan fixed.Now another 9k shortage on the escrow account I dont understand how how does possible when Im making my monthly payment, including escrow and insurance and tax again my payment going to go up to almost $4000 a month now because of this another shortage??*** is the biggest scammer and fraud in the mortgage industry.Right now Im sending everything to the *** everything from 2019 to today and the The *********************** to investigate.Thank you ********************* ************

  Business response

  06/11/2024

  Please see the attached response.

• Initial Complaint

  05/30/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Charging a payment which has been made, rude communication, and very evasive. The first phone conversation *** offered " a payment adjustment based on being behind", the payment adjustment is a lie, and very misguided. I can see why and how people who are already in a financial bind fall for this scheme and end up losing their homes. Please take a look at the letter I'm sending them certified.

  Business response

  06/05/2024

  Please see the attached response.

  Customer response

  06/18/2024

   
  Complaint: 21768774
  
  I am rejecting this response because:
  
  Sincerely,
  
  Yenixis *********************************

  Business response

  06/24/2024

  Please see the attached response.

• Initial Complaint

  05/22/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  On May 15 of 2024, I received a letter from BSI ********* Services that I will be transferred to Fay Servicing on June 07, 2024. Starting on June *******, all of my payments will transferred to Fay Servicing, LLC. The problem is that on April 1, 2024, BSI stopped accepting my automatic payments and did not inform me in any way. I assumed the payment was taken into and had not checked in on my mortgage payment. Only until I had to manually call *** Services, I was informed that with my 50 day late fee, I would have to pay over $2000 dollars for additional payments as a part of my late fee. Fay Servicing, LLC are dishonest and have unfair business practices on their customers. I strongly do not recommend. Beware.

  Business response

  05/24/2024

  Please see the attached response.

  Customer response

  05/24/2024

   
  Complaint: 21743706
  
  I am rejecting this response because:
  
  Sincerely,
  
  *********************

• Initial Complaint

  05/13/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I do not have a contract with Fat Servicing LLC. They did not provide me with the original contract as I requested.

  Business response

  05/14/2024

  Please see the attached response.

• Initial Complaint

  05/13/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Fays servicing either is servicer or owns the loan of my property at **********************************. Even though it's in both my partners name and mine ( we own the ***** and we both personal guarantee the loan they will only speak with my partner but that does not matter. For over a year they have been holding ****** $8,684.82 from us. For whatever reason while back they were double billing us BUT was not going to pay down principle OR paying down future payments but instead goes to a side account called "suspense balance" They literally refuse after weeks of back and forth and showing proof to give it back, we talk to people from ***** with broken English that give us no solution. This is not an interest baring account so they are stealing interest from us. They will not credit it to our principal nor will they allow us to pre pay our future PITI payments. They told us you will have to disconnect your autopay and it will draw down which we did yet they STILL somehow draw new payments from our account. No idea what to do, who has time to chase these people and chase your tail. So done with them, THEY OWE US OVER A YEAR of interest at the very least on that money

  Business response

  05/21/2024

  Please see the attached response.

• Initial Complaint

  04/26/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I applied for a Borrower Assistance Application, in which supposed to help relieve some of the pressure or to modify the total amount and allow you to get back on track.I applied for this relief on April 1, 2024, and according to them a decision was made on April 5, 2024.I was not notified by mail, email or any documentation or correspondence was sent to this third-party portal. I spoke with someone on April 1, 2024, and again on April 5, 2024, in reference to did they receive my application and do I need to send anything with it. (04/01/24) On April 5, 2024, I call in reference to receiving a letter in the mail in regard to incomplete application and proof of home insurance. I spoke with *********************** on that day.I received a call on today 04/24/24 but no one left a message, so I called back after I went on break. I spoke with *********************** in reference to someone calling me and plus wants to know the status of my application.So, he begins to explain to me that a decision was made on 5th of April 2024 and a letter was mailed to your house. What decision, I called and spoke with you on that day, and you did not say anything, nor did I get anything in the mail in reference to anything or an email indicating that a decision was made and check the portal.My complaint is they like to keep people in the dark about criticial information about applying for any type of foreclosure relief. I was told that all the program stop when ***** enter into the ***********...Moving forward with the foreclosure process against borrowers who is applying for help. I was told that I was already in the process, but I did not receive any mail from them or from any attorney of theirs. Stop with the illegal practices and comply with mortgage servicing rules. Like responding with timely and accurate acknowledgement and evaluation notices required by an under federal regulations. (This was not done at all) The Denial letter was broad and does not give any detail information to what led her (*************************) this decision. My senior ******************************* could not really explain why the decision was made the way it was and what actual led to this decision. He couldn't explain it to me correctly. I thought that this mortgage company is responsible for soliciting borrowers certain programs, responding to their application in a timely way , determining eligibility and implementing the foreclosure relief program for people like me. This company used a third party vendor to export information to them, and I was block from this portal and plus from the Fay Servicing website. So, theres no way for me to access information in reference to my application or to see for myself any update. I was told today that they cannot unblock from this (third party vendor). But this portal is attached to their website for consumer to used when they are seeking for help of any sort, or to review their account. I was block from both for almost now two years. So, is this practice common for companies to block the consumer in making any type of decision on their account. The problem that I have, is that I prefer to look and examine where I'm at in my process, not calling every time I have a problem with this company.They are not experiences or acknowledgeable groups of folks that can guide you in the right direction. I'm convince that they want my property because it's worth some money to them. But if I am seeking for some guidance from this company then why the push back. I'm up to my eyeball with this company. I never seen anything like them. I want some answer...as to why you guys keep allowing company like to practice in certain states when they don't want to assist the homeowners.

  Business response

  05/01/2024

  Please see the attached response.

  Customer response

  05/02/2024

   
  Complaint: 21626540
  
  I am rejecting this response because: first I did not receive the letter they claim was sent to the house address. Secondly, any information that should been provided to me should have went thru the portal that they provided to the customer to used.  Just like I stated in the complaint that I was block access to used the portal or the their website also. This letter was suppose to be sent in a timely fashion in order for me to dispute anything. But Fay Servicing is fully aware of the process and this is why I'm filing a complaint.  I just receive a letter stating a legally required notice that was mailed out on April 24, 2024 stating what im suppose to be because im behind on my mortgage. This is after the fact. I will provided a copy of the letter. 

  The denial letter does not state the reasons for thr denial at loss, whether it was income or what. It is too broad and I deserve an explanation. The law require the mortgage company to assist but how is they assisting me when I filed the paperwork on the first of thr month in April and they Denied it on the 5th of April. That's not enough time to evaluate what options is suitable for thr client. 4 days is not enough to review any options. So, no im agree with this decision and yes I desire more then what they are willing to say or do. Most definitely I know where I stand legally and yes this company was *** multiple time for the same thing im disputing. blocking the options for consumer to used or willing to assist your customer. What it ball's down to they see the equity in my property and it is worth more me out then in. They did not offer anything at all to me. I did not receive the letter until I call and ask for the status on my application that's when I was notify with the information. I believe a phone call and email should have been sent because last year I filed for the same process and I was clearly denied due to income last year. And I receive a letter thru the portal and thru an email. So why is this process different this year. ?? 12 month turn around with the same underwriter and receive a different result and a different processing method why? What change? If I never call a week ago, I would have never know about the denied application.  Which is very disturbing to me. This is the lack of communication on their part and it was a reason for it. They did not wanted me to dispute the paperwork, so they did not send me the paperwork as they claim thru the mailing system. It's funny how I can receive everything but that denied letter. Funny. They knew I had 15 days to dispute it and delay and block my access deliberately so that I won't be able to dispute it. This company been playing games for years and suing them and hitting them with fines seem not be doing the job for them. I believe Consumer ************************* should closed them down because they are not working for the consumer at all.  Now I want a better answer from them because what they sent is not go enough. But let them know I filed a complaint against them thru CPFB and I just got a response from them indicating they sending the complaint to the consumer. So, let see if Im going to get the same answer. CPFB does things a lot different from BBB. Because they will be investigate again for same is***s that consumer is having with them. Choose your battle Fay Servicing...

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

  Business response

  05/08/2024

  Please see the attached response.

*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. ↩