ComplaintsforFay Servicing LLC

• Initial Complaint

  07/29/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I am unable to receive any assistance with Fay servicing regarding my mortgage. There customer service reps are not helpful. I have been trying since March to get them to send me accurate mortgage statements. They are applying partial payments to my principle without my consent and stating my monthly house payment is late. I would like any assistance with this issue.

  Business response

  08/25/2022

  Business Response /* (1000, 6, 2022/08/10) */ Please see the attached response August 10, 2022 ***** *********** Sent via BBB Portal RE: Account Number: XXXXXXXXXX Property Address: 7634 Cavell St, Westland, MI XXXXX BBB Complaint Number: XXXXXXXX Dear ***** ***********: Fay Servicing, LLC ("Fay") has received and reviewed the complaint that you submitted to the Better Business Bureau ("BBB") portal on July 29, 2022, regarding your above-referenced mortgage loan. Fay's responses to the specific concerns raised in your complaint are provided below. a. In your complaint, you state that you have been attempting to receive accurate mortgage statements as your partial payments are not being applied properly. In result, your payments are being shown as late. After conducting a reasonable investigation, Fay has determined that the second partial payment is being received after the 16th of each month which results in a late fee of $9.98. The payment of $800 received each month is going towards the monthly payment and the remainder towards the principal. The first month in which the full payment was not received within the grace period was March 2022. Please see below the dates in which each payment was received from March 2022 to current. March 2022 - $270 received March 5, 2022 $270 received March 19, 2022 $270 received April 1, 2022 Total: $810 received. An amount of $774.07 was applied April 1, 2022 to the March 1, 2022 payment. The remaining $35.93 stayed in the suspense account which were applied to the principal on April 29, 2022. April 2022 - $400 received April 16, 2022 $400 received April 29, 2022 Total: $800 received. An amount of $798.73 was applied April 29, 2022 to the April 1, 2022 payment. The remaining $37.20 was applied to the principal balance on April 29, 2022. May 2022 - $400 received May 13, 2022 $400 received May 27, 2022 Total $800 received. An amount of $784.05 was applied May 27, 2022 to the May 1, 2022 payment. In addition, an amount of $9.98 was applied to the late charge. The remaining $15.95 was applied to the principal balance on May 27, 2022. June 2022 - $400 received June 10, 2022 $400 received June 24, 2022 Total $800 received. An amount of $766.90 was applied June 24, 2022 to the June 1, 2022 payment. In addition, an amount of $9.98 was applied to the late charge. The remaining $33.10 was applied to the principal balance on June 24, 2022. July 2022 - $400 received July 11, 2022 $400 received July 22, 2022 Total $800 received. An amount of $766.90 was applied July 22, 2022 to the July 1, 2022 payment. In addition, an amount of $9.98 was applied to the late charge. The remaining $33.10 was applied to the principal balance on July 22, 2022. Please see the attached payment history for your records. In addition, please note if the payments are being sent by check or by bill pay via USPS, Fay is not responsible for any delay of the mail system. b. In your complaint you state that you have received poor customer service. We are sorry to hear about your experience. We are committed to providing superior customer service and have addressed your concerns with the appropriate parties. If you have any questions, please contact customer service at XXX-XXX-XXXX 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

  07/29/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I have sold my home on 6/24/2022 ..with the payoff provided. The loan was not paid off. i called on 7/19/2022 and i was transferred over to different departments. each customer rep stating the wired funds were sent back due to a $130 shortage. I spoke with the title company the wire was never sent back to the title company. I emailed and spoke with a supervisor on 7/22/2022 and provided proof the wire was never sent back to title. I spoke with a customer service ..they now paid past due property taxes, after i explained to the manager that the loan has been paid off....the past due property taxes were paid in the sale of the sale of the property . would'nt that have been in the payoff ...no one can help me with paying off my loan...my house has been sold back on 6/27/2022...and this loan is collecting interest daily ....please help..i have spoken with managers, customer service, and no one seems to have an answer.

  Business response

  08/26/2022

  Business Response /* (1000, 6, 2022/08/11) */ August 5, 2022 ******** ******** ***** ******** ** ****** ******* ** XXXXX RE: Account Number: XXXXXXXXXX Property Address: *** E ***** *** *** ******** *** XXXXX BBB Complaint Number: XXXXXXXX Dear ******** ********: Fay Servicing, LLC ("Fay") has received and reviewed the complaint that you submitted to the Better Business Bureau ("BBB") portal on July 26, 2022, regarding your above-referenced mortgage loan. Fay's responses to the specific concerns raised in your complaint are provided below. a. In your complaint, you state that you recently sold the property and sent in funds to pay off the loan; however, you were informed that the funds were short and could not be accepted. You state that Fay paid past due property taxes which were already paid through the sale of the property. You request acceptance of the initial payoff funds provided. After conducting a reasonable investigation, Fay has determined that no error occurred. Fay spoke with you on an outbound call on August 3, 2022, as you previously requested a call back to discuss the payoff process. During the call, you reiterated that you recently closed on the sale of the property, and sent in funds to pay off the loan which were not accepted by us because the funds were short; however, Fay did not reach out to you to notify you of the shortage. Our records confirm that attempts to reach you via telephone were unsuccessful on June 28, 2022, July 11, 2022, and on July 12, 2022. The Fay representative confirmed the telephone number on file was correct as utilized by us. It was also explained that we requested for the wired funds to be returned on July 25, 2022, during in which a county tax disbursement was also processed in the amount of $2,557.34, as indicated in the enclosed account history. The county tax disbursement was for delinquent taxes, and the disbursement ultimately increased the payoff amount due. You stated on the call that you made Fay aware taxes were paid at closing and should not have been paid by us; however, the account is escrowed and therefore we are legally required to pay property taxes when they are due. The Fay representative suggested two options in order to resolve the issue, and explained that you may send in the funds to pay the shortage, afterwards we will send you an escrow refund check as a result and/or in the event that the county refunds us for the duplicate payment. An alternative option provided was to wait for the county to send us the refund at which time the refund would be applied towards the shortage; however, per diem will continue to accrue until the shortage is paid. The representative further explained that there was no error by Fay in paying the property taxes, and the account must be paid in full before we can close the loan. *** has requested for an updated payoff statement, which is expected to be available on August 5, 2022. If you have any questions, please contact your Account Manager, Reginald G., at XXX-XXX-XXXX. Additionally, Fay Servicing, LLC can be reached at XXX-XXX-XXXX 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

  07/29/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Fay Servicing received an Insurance Check to be endorsed from a claim filed with my insurance company for water damage. I was originally told that the check would be endorsed and returned because it was under $40,000. One week later I was told that the claim had to be monitored and that I would receive partial funds. They claim my mortgage was behind back on 01/26/2022. (I received a deferment due to COVID). I needed more funds than the 25% due to the present cost of materials for my bathroom and they claim that it had to be approved by corporate. I asked for a supervisor; none could help me due to the fact that "they have no way of communicating with corporate and they can take as long as they want". I was going to hire an attorney, they claim the attorney has "no way of communicating with corporate". In other words, they have held my check for the past 42 days and made interest on it. I have lost 2 contractors because I have been unable to commit and the price of materials has increased 10% due to the rising economy. My mortgage is paid 3 months in advance and I have over $500,000 in equity. The insurance company inspected the property and PAID for the claim. Who does FAY servicing think they are by withholding my funds from an insurance company that I pay? With so much government monitoring of Mortgage companies, how is FAY servicing allowed to hold a check for repairs and cause the damage to deteriorate even more? Especially when the mortgage is up to date and the check is for approximately only 4% of the property value. I am appalled. When I call I receive what I though was excellent customer service. Now I believe it's all a script of a SCAM to lead you on an make interest on MY money. I need to start my repairs before I have more deterioration, lose another contractor and have to pay more for materials. I have already scheduled an inspection but it seems that will be delayed as well adding more days of waiting. Thank You!

  Business response

  08/31/2022

  Business Response /* (1000, 10, 2022/08/16) */ Please see the attached response. July 27, 2022 ***** ****** ****** Sent via BBB Portal RE: Borrower Name: ***** ****** ****** Account Number: XXXXXXXXXX BBB Complaint Number: XXXXXXXX Dear ***** ****** ******: Fay Servicing, LLC (“Fay”) has received and reviewed the complaint that you submitted to the Better Business Bureau (“BBB”) portal on July 17, 2022, regarding your above-referenced mortgage loan. Fay’s responses to the specific concerns raised in your complaint are provided below. a. In the complaint, the borrower states that they received an insurance claim check under $40,000 and were advised the check would be endorsed and sent back. However, the borrower was then advised that the claim would be monitored and the funds would be disbursed in thirds. After conducting a reasonable investigation, Fay has determined that no error has occurred. At the time Fay received the insurance claim check for $ 34,760.36 on June 1, 2022 the account was due for January 1, 2022 and all subsequent payments. The account was not brought current until June 24, 2022 when the loan modification was implemented. The borrower was advised by phone on June 6, 2022 the process and procedures in place for the insurance claim and that the claim would be monitored due to the account status. The borrower asked for an exception to the process due to the loan modification that was in process and a request for an exception was submitted on June 7, 2022. The borrower called in on June 13, 2022 inquiring on the status of the exception at which time the borrower was advised the request was in review and the process for monitoring the claim as the account was still delinquent at this time. On June 22, 2022 Fay determined the insurance claim would continue to be monitored because at the time of the claim the borrower was not on a forbearance plan at the time of the loss. This same day, Fay attempted to reach the borrower by phone to advise of the decision. On June 23, 2022, the borrower called in and was advised the claim check would be sent back to be endorsed and returned to monitor the claim progress. The check was sent by USPS under tracking number XXXXXXXXXXXXXXXXXXXXXX. On July 6, 2022, Fay received back the fully endorsed insurance claim check and the first draw of $13,000.00 was sent to the borrower on If you have any questions, please contact customer service at 800-495-7166 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

  07/29/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  My father was killed at work on December 29th. I received a paper from a lawyer who is representing his wife with a statement. I have since called and tried to pay off the loan that is in my fathers name for a property that now belong to my mother Shelly Adwell (gable). I have sent every single document to this company so I can have the loan transferred to my name to pay off as we don't want to lose this land. Everytime I call I get a different answer and saying they don't have any of the paperwork that I have sent MULTIPLE times. Also where my lawyer has contacted this company! I am trying to get this mattered resolved with no help! I have sent the successor of interest paperwork where I signed to be authorized on the account! When I spoke to someone today they decided to tell me that someone is authorized in the account which NO ONE should be authorized on this account and no statements should be mailed to any address other than mine! I have now overnight a check for $2,000 to try and pay on the loan! I have enough on my plate and still dealing with my father being killed to keep dealing with this company when this matter could be done and resolved! I have asked for the redacted pay off which said was emailed on the 15th with no email received! Then when I called back to say the email was not received they stated there was no email ever sent even though multiple people told me it was!!!!!

  Business response

  08/10/2022

  Please see the attached response.
  
  8/10/2022
  *************************
  Sent via BBB Portal
  RE: Account Number: **********
  Property Address: ***************************************************************** 42159
  BBB Complaint Number: 67531981
  Dear *************************:
  Fay Servicing, LLC ("***") has received and reviewed the complaint that you submitted to the ************************** ("BBB") portal on July 29, 2022, regarding your above-referenced mortgage loan. *****
  responses to the specific concerns raised in your complaint are provided below.
  a. In your complaint, you state that in your email, you state that you are attempting to pay off
  the loan and have sent all the successor in interest paperwork, however you haven't been
  able to obtain a payoff quote or loan information.
  On April 20, 2022 *** provided a response that states *** does not have you confirmed as the
  Successor in Interest for this loan. On May 18, 2022 *** mailed you a Successor in Interest
  Status-Additional Documentation Required Letter stating that we are require the following
  documents to confirm your identity and ownership interest in the property:
  Copy of Most Recent Deed or Tile Legally transfer to the successor in interest claimant's name
  On July 26, 2022, *** sent the attached letter confirmation you as successor in interest. In
  addition, a payoff letter was sent to the mailing address on file on July 27, 2022. A copy of the
  payoff letter has been attached for your records.
  b. In your email, you state that state that you have received poor customer service.
  We are sorry to hear about your experience. We are committed to providing superior customer
  service and have addressed your concerns with the appropriate parties.
  Fay Servicing, LLC can be reached at ************ Monday - Thursday 8:00 A.M. - 7:00 P.M., Friday
  8:00 A.M. - 5:00 P.M., and Saturday 9:00 A.M. - 12:00 P.M. CST.
  Sincerely,
  Fay Servicing, LLC
  See Attachment/File: 215774_BBBLTR_4_Response.pdf

  Business response

  08/25/2022

  Business Response /* (1000, 6, 2022/08/10) */ Please see the attached response. 8/10/2022 ****** ****** Sent via BBB Portal RE: Account Number: XXXXXXXXXX Property Address: *** UPPER IRON BRIDGE RD OAKLAND, KY XXXXX BBB Complaint Number: XXXXXXXX Dear ****** ******: Fay Servicing, LLC (“Fay”) has received and reviewed the complaint that you submitted to the Better Business Bureau (“BBB”) portal on July 29, 2022, regarding your above-referenced mortgage loan. Fay’s responses to the specific concerns raised in your complaint are provided below. a. In your complaint, you state that in your email, you state that you are attempting to pay off the loan and have sent all the successor in interest paperwork, however you haven’t been able to obtain a payoff quote or loan information. On April 20, 2022 Fay provided a response that states Fay does not have you confirmed as the Successor in Interest for this loan. On May 18, 2022 Fay mailed you a Successor in Interest Status-Additional Documentation Required Letter stating that we are require the following documents to confirm your identity and ownership interest in the property: • Copy of Most Recent Deed or Tile Legally transfer to the successor in interest claimant’s name On July 26, 2022, Fay sent the attached letter confirmation you as successor in interest. In addition, a payoff letter was sent to the mailing address on file on July 27, 2022. A copy of the payoff letter has been attached for your records. b. In your email, you state that state that you have received poor customer service. We are sorry to hear about your experience. We are committed to providing superior customer service and have addressed your concerns with the appropriate parties. Fay Servicing, LLC can be reached at XXX-XXX-XXXX Monday – Thursday 8:00 A.M. – 7:00 P.M., Friday 8:00 A.M. – 5:00 P.M., and Saturday 9:00 A.M. – 12:00 P.M. CST. Sincerely, Fay Servicing, LLC

  Customer response

  10/05/2022

   
  Complaint: 17838997
  
  I am rejecting this response because:

  This will be my third complaint filed with no help or resolution. I sent a cashiers check to Fay Servicing, you all returned the check to an address where I do not live and now the check is in the hands of someone else. I've had to go to the bank and try to get a stop pay to get my money back, which I will be also charged $30 now since you all did this. I called every day to make sure that the check would be returned to the address on the check. I was told it would be returned to that address. A month later and the check wasn't sent to that address. Along with that comes to me being authorized in the account. I sent you all the same paper that I needed to sign and still to be told that you all didn't receive it. I have emails to prove I sent it, also faxed it multiple times too. I am tired of dealing with the representative's that have an attitude and are very rude. *************** is one of them who is completely disrespectful. They also fail to ever let me speak to a manager or someone over their head. I never get a phone call back from anyone to help with this situation. I have been trying to pay this off since march and you all have done nothing but drag me through the mud and be rude! This is by far the worst company to deal with or get any help. It's sad and pathetic of how awful your customer service representative's are! I was also told that you all would refund me the $30 that I lost because of the check you sent to the wrong address! Then today they said that isn't possible! No one ever knows what they are talking about and never help anything!
  
  

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

  Customer response

  10/05/2022

   
  Complaint: 17838997
  
  I am rejecting this response because:

  This will be my third complaint filed with no help or resolution. I sent a cashiers check to Fay Servicing, you all returned the check to an address where I do not live and now the check is in the hands of someone else. I've had to go to the bank and try to get a stop pay to get my money back, which I will be also charged $30 now since you all did this. I called every day to make sure that the check would be returned to the address on the check. I was told it would be returned to that address. A month later and the check wasn't sent to that address. Along with that comes to me being authorized in the account. I sent you all the same paper that I needed to sign and still to be told that you all didn't receive it. I have emails to prove I sent it, also faxed it multiple times too. I am tired of dealing with the representative's that have an attitude and are very rude. *************** is one of them who is completely disrespectful. They also fail to ever let me speak to a manager or someone over their head. I never get a phone call back from anyone to help with this situation. I have been trying to pay this off since march and you all have done nothing but drag me through the mud and be rude! This is by far the worst company to deal with or get any help. It's sad and pathetic of how awful your customer service representative's are! I was also told that you all would refund me the $30 that I lost because of the check you sent to the wrong address! Then today they said that isn't possible! No one ever knows what they are talking about and never help anything!
  
  

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

• Initial Complaint

  07/28/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  15 U.S.C 1681 section 602 A. States I have the right to privacy.15 U.S.C 1681 Section 604 A Section 2: It also states a consumer reporting agency cannot furnish an account without my written instructions.According to: 15 U.S.C. 1681s-2 (A)(1) A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.15 U.S.C. 1692c(a)Communication with the consumer generallyWithout the prior consent of the consumer given directly to the debt collector or the express permission of a court of competent jurisdiction, a debt collector may not communicate with a consumer in connection with the collection of any debt.They added to my report a debt that is not mine.

  Business response

  08/31/2022

  Business Response /* (1000, 15, 2022/08/16) */ Please see the attached response. August 2, 2022 ****** ******** Sent via BBB Portal RE: Account Number: XXXXXXXXXX Property Address: ** * *********** **** ********* ** XXXXX BBB Complaint Number: XXXXXXXX Dear ****** ********: Fay Servicing, LLC (“Fay”) has received and reviewed the complaint that you submitted to the Better Business Bureau (“BBB”) portal on July 26, 2022, regarding your above-referenced mortgage loan. ***’s responses to the specific concerns raised in your complaint are provided below. a. In your complaint, you state that Fay added a debt to your credit report that is not yours. After conducting a reasonable investigation please note, Fay is required to report complete and accurate information to the credit bureaus. Fay is therefore unable to change the credit reporting as there is no error to correct. Credit reporting information is listed for a period of up to seven years. If you have supporting documentation to support your claim, please send in the information for review. However, please recall on January 23, 2007 you obtained a loan from ******* *** **** *****, LLC, whose address is XXXXX Foster ******* ******** ***** ** XXXXX in the amount of $164,000.00. In exchange for the loan, you gave, as security, an interest in the subject property located at ** * *********** **** ********* ** XXXXX. Fay is the current servicer of the loan and the holder of the note is ********** ****** National Association, not in its individual capacity, but solely as trustee for MFRA Trust XXXX-X. Their address is *** **** **** **** *** *** ***** ** XXXXX Fay records indicate that you are in active bankruptcy. Please note we are required by law to send certain notices such as the monthly billing statement, which is for informational purposes only. The following bankruptcy provision below is also stated on your monthly billing statement. If you have any questions, please contact your Account Manager, James Lawlor, at XXX-XXX-XXXX. Additionally, Fay Servicing, LLC can be reached at 800-495-7166 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

  07/28/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Fay Servicing handled my mother's mortgage account number ****** and after her passing in Dec 2019 I was able to keep up with some of the payments until the pandemic got the best of everyone. I was able to speak with the account manager at the time and tried my best to keep up but I was defeated. As the beginning of foreclosure started happening their lawyers hired private investigators to make sure we were the only heirs for the property and YES I WAS STILL SPEAKING to employees at Fay. We went ahead and sold the house before any court action was taken and paid Fay all the money that was due of course. Once they received their funds all of a sudden I could not speak to anyone at Fay about the escrow check. After speaking with the Escrow Dept. and asked to send all documents pertaining to the sale and showing we are the people we say we are it was never enough. So now they are holding the escrow check that was stated was sent out but sent back as undeliverable. All we are wanting is the escrow check that they refuse to send out to the new address on file. Yes we received a letter stating that they have updated the address but still refuse to send the check out. WHY as you have every document asked for since Jan 2022. We are 6 months in with no resolution in sight as Fay is withholding funds that are due. We want this chapter completely close so we can move on.

  Business response

  08/31/2022

  Business Response /* (1000, 15, 2022/08/16) */ Please see the attached response. August 2, 2022 ******* ***** Sent via BBB Portal RE: BBB Complaint Number: XXXXXXXX Dear ******* *****: Fay Servicing, LLC (“Fay”) has received and reviewed the complaint that you submitted to the Better Business Bureau (“BBB”) portal on July 26, 2022. After conducting a reasonable investigation, *** has determined that at this time we do not have authorization for you on this account. If your intention is to become authorized on the account, additional documents will be required to confirm you as the successor in interest. Once the required documents are received and authorization is granted, we will be able to discuss the details of the account and address your concerns. Please note to have the escrow check reissued to you directly, please provide the supporting documents needed on the attached letter sent on March 9, 2022. If you have any questions, please contact customer service at 800-495-7166 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

  07/28/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  i RECEIVED A CHECK IN THE MAIL BUT AT THAT TIME I HAD JUST LOST MY HUSBAND AND MY MAIL WAS PUT ASIDE DUE TO ME GOING IN DEEP DEPPRESSION. I FOUND THE CHECK AND IT WAS OVER 180 DAYS OLD AND I CALLED AND TALKED TO DIFFERENT ONES ABOUT REISSUING A CHECK AND THEY SAID THEY COULDNT FIND TRHE ACCOUNT I GOT HUNG UP ON SEVERAL TIMES I SENT COPIES ON MY ID AND THE CHECK I NEED THIOS RESOLVED ASAP

  Business response

  08/31/2022

  Business Response /* (1000, 15, 2022/08/19) */ August 19, 2022 ********* ******* Sent via BBB Portal RE: BBB Complaint Number: XXXXXXXX Dear ********* *******: Fay Servicing, LLC ("Fay") has received and reviewed the complaint that you submitted to the Better Business Bureau ("BBB") portal on August 1, 2022 regarding your above-referenced mortgage loan. ***'s responses to the specific concerns raised in your complaint are provided below. a. In your complaint, you state that you received a check in the mail, however, at the time had lost your spouse and had misplaced the check. You further state you've recently located the check and found you are unable to deposit the check as it was over 180 days. You state you have attempted to resolve and have the check reissued, but the account was not able to be located and you were hung up on. Fay has attempted to locate the account in question and has determined there is not enough information in order to properly locate the loan. In order for Fay to research this matter further, please provide a front and back copy of the escrow check you are requesting to be reissued, along with the account information including the loan number, borrower(s) name, full property address (including City, State, and Zip Code), and or the last four of the social security number associated with the account. This information can be located on a previous mortgage statement sent to you. We apologize for the inconvenience and are sorry to hear about your experience. We are committed to providing superior customer service and have addressed your concerns with the appropriate parties. If you have any questions, *** Servicing, LLC can be reached at XXX-XXX-XXXX 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

  07/28/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Hi,On 5/9/22, Fay Servicing made an unauthorized draw out of our account totaling $3,415.63.Our mortgage was previously paid off on 5/3/22, so the draft from 5/9 was a double unauthorized payment.We had a agreement that the unauthorized draft from my account would be applied towards July mortgage payment. However, we were charged for July and it was not applied towards the unauthorized draft.Therefore, we are requesting a refund plus compensation for the damages this caused us!Thank you!

  Business response

  08/31/2022

  Business Response /* (1000, 17, 2022/08/25) */ Contact Name and Title: *** Financial Contact Phone: XXX-XXX-XXXX August 25, 2022 *** ***** *** ******* ********* Joseph K. Sent via BBB Portal RE: Account Number: XXXXXXXXXX & XXXXXXXXXX Property Address: *** ***** *** ****** ***** ** XXXXX BBB Complaint Number: XXXXXXXX Dear ******* *********: Fay Servicing, *** ("Fay") has received and reviewed the complaint that you submitted to the Better Business Bureau ("BBB") portal on July 28, 2022 regarding your above-referenced mortgage loan. Fay's responses to the specific concerns raised in your complaint are provided below. a. In your complaint, you state that the account is due a refund in the amount of $3,415.63 due to a double-payment. You state that you previously agreed to have the funds applied towards the July 1, 2022 payment; however, the funds were not applied to the account as previously requested. After conducting a reasonable investigation, Fay has determined that an error occurred. The May 1, 2022 payment was drafted twice, as the payment was initially drafted under loan number XXXXXXXXXX on May 2, 2022 in the amount of $3,415.63, then the payment was drafted again under loan number XXXXXXXXXX on May 9, 2022. Fay records reflect loan number XXXXXXXXXX was acquired for servicing on April 26, 2022 due for the first payment on May 1, 2022. The loan was de-boarded as the correct loan information was updated on loan number XXXXXXXXXX. At the time of origination, you signed a Fay Servicing ACH form providing your account information dated for March 15, 2022, however, you did not complete whether it was a checking or saving account or the date that you wished it to be drafted. Your lender received an updated electronic copy following this. At the time the loan was transferred to Fay, the loan was updated with the ACH information and the payment was updated to automatically draft on the 9th of the month due to the authorization provided from closing. Fay credited the double-payment back to loan number XXXXXXXXXX and a refund check was disbursed to you on May 25, 2022; however, you informed us that you did not receive the refund check due to it was sent to the incorrect mailing address. We were unable to apply the funds towards the July 1, 2022 payment as the stop payment was not placed on the refund check until July 29, 2022, after which the funds were deposited back into loan number XXXXXXXXXX. On August 17, 2022, Fay placed an outbound call to you to determine if you would prefer to have the check re-issued or if you would like for the funds to be applied towards loan number XXXXXXXXXX. You provided a mailing address and requested to have the funds overnighted to the mailing address or have the funds wired to your account. The Fay representative submitted the request, and as of August 17, 2022, the payment was requested to be submitted to you via wire. As of the date of this letter, we have confirmed that the wire to you has been released. Please accept our sincerest apologies. We are committed to providing superior customer service and have addressed your concerns with the appropriate parties. As of the date of this letter the loan is due for the September 1, 2022 payment. A copy of the account history for the accounts in question has been enclosed for your convenience. Fay Servicing, *** can be reached at XXX-XXX-XXXX 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, *** Enclosures (3)

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