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Business Profile

Mortgage Lenders

Fay Servicing LLC

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Mortgage Lenders.

Complaints

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

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Fay Servicing LLC has 7 locations, listed below.

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    Customer Complaints Summary

    • 217 total complaints in the last 3 years.
    • 67 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint type

    • Initial Complaint

      Date:03/05/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Dec 2024. Ask Fay Servicing not to Escrow House Insurance, they sent letter they took off escrow. Jan ask Fay Servicing to remove taxes from Escrow, they sent letter agreeing. Thus closing all my escrow accounts. I have paid ********************* and taxes, now Fay Servicing will not let me pay my account unless I pay into a escrow account. I have paper work sent to me by Fay Servicing with all information

      Business Response

      Date: 03/19/2025

      March 19, 2025

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

      RE:                          Account Number:                            0000349876
                                      Property Address:                           ************************************************
                                      BBB Complaint Number:               23024589

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

      Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 5, 2025, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.

      In your complaint, you state that you requested cancellation of the escrow account for property insurance during December 2024, and you requested cancellation of the escrow account for property taxes during January 2025. You state that letters were sent that indicated the escrow account for property insurance and property taxes were removed; however, you are currently being required to make escrow payments to pay the mortgage.

      After completing an investigation, we determined that a signed written request is required in order to remove an escrow account for property taxes and/or property insurance and your initial written requests only indicated to remove the hazard insurance. During December 2024, *** completed an Escrow Analysis on December 23, 2024, and we have attached a copy of the Escrow Account Disclosure Statement for reference. The analysis completed reflects an increase in the monthly payment from $838.23 to $1,006.31 effective with the February 1, 2025,mortgage payment. At the time of the analysis, the loan had an escrow balance of -$1,262.33 with a required escrow cushion of $569.60 resulting in an escrow shortage in the amount of -$1,831.93.The escrow shortage was spread over twelve (12) months resulting in an additional $152.66 added to the monthly payment. After the analysis, *** received your initial written request to remove hazard insurance only and we have attached a copy of the correspondence for reference. The attached letter was sent dated December 27, 2024, regarding our review of your request for full/partial escrow cancellation and we determined the request was denied due to the escrow account having a negative balance. *** then received two escrow-only payments on December 27, 2024, and January 6, 2025, for $1,700 and $131.93 which were applied to the escrow balance of the loan. On January 8, 2025, *** completed an updated Escrow Analysis, and we have attached a copy of the Escrow Account Disclosure Statement for reference. The analysis completed reflects an increase in the monthly payment from $838.23 to $853.65 effective with the February 1, 2025, mortgage payment; however, the escrow shortage was removed during this period. Afterwards, we received a secondary written request to remove hazard insurance only and we have attached a copy of the correspondence for reference. On January 14, 2025, *** received another escrow-only payment in the amount of $1,531 which was applied to the escrow balance of the loan.

      Fays records confirm your request to remove the hazard insurance was approved on January 16, 2025, and the attached letter was sent regarding our review of your request for full/partial escrow cancellation. The letter indicated that you would no longer have an escrow account as of February 7, 2025. Unfortunately, the appropriate request required for an escrow analysis was not placed in our system so that the monthly payment could be adjusted during this period and instead, the attached letter dated February 10, 2025, was inadvertently sent regarding your request for full/partial escrow cancellation. We regret the inconvenience and frustration caused by this matter.

      The request was placed in our system for an updated escrow analysis on or about March 13, 2025. *** recently completed the required escrow analysis, and the Escrow Account Disclosure Statement is being sent under separate cover. The analysis completed indicates that we are only escrowing for property taxes and reflects a decrease in the monthly payment from $853.65 to $726.07 effective with the April 1, 2025, mortgage payment. At the time of the analysis, the loan had an escrow balance of $2,670.17 with a required escrow cushion of $1,414.90 resulting in an escrow surplus in the amount of $1,255.27. On March 17, 2025,*** deducted the escrow surplus and issued the funds to you in the form of an escrow refund check which was sent to the mailing address on file. Please allow up to 15 business days for **** delivery. Please advise if your check has not been received within this time frame.

      As of the date of this letter, the loan is contractually due for the April ******, mortgage payment in the amount of $726.07. We most recently received your revised escrow removal request dated March 5, 2025, indicating that the request is for both property taxes and property insurance and the correspondence was uploaded to your account as of the date of this letter. We are currently reviewing the most recent full/partial escrow cancellation request and expect a determination by no later than March 24, 2025.

      If you have any questions, please contact ***************** at ************ Monday Thursday 8:00 A.M. 7:00 P.M., Friday 8:00 A.M. 5:00 P.M., and Saturday 9:00 A.M. 12:00 P.M. CST.

      Sincerely,

      Fay Servicing,LLC

      Enclosures (7)

    • Initial Complaint

      Date:02/10/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have a mortgage for a property with Fay Servicing. The address is: *****************************************. They said that I did not have insurance coverage for my property so they purchased a policy on their own. I sent over 4 separate calls validating that the insurance that I already had covered all of their requirements and they finally agreed. Since they have agreed, it has been 4 weeks and I have not received any confirmations of this. They have increased my Escrow costs to pay for the insurance they purchased and I will start paying this higher amount in March. When I speak to them about it, they agree that it shows it is processing, but refuse to give me any evidence.

      Business Response

      Date: 02/18/2025

      Please see the attached response.

    • Initial Complaint

      Date:02/05/2025

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I hope this message finds you well. I am writing to formally lodge a complaint regarding my recent experience with your customer service team, and I kindly request an investigation into the matter. On 2/4/2025 at 2:59pm, I contacted customer service for assistance with a representative Ngosa, she was rude, lacking empathy and effective communication. Unfortunately, the level of service I received was unsatisfactory due to her yelling at me, refusing to transfer call to manager and ending the call. Please investigate the calls I made and train this representative. Despite my clear explanation of the issue and polite requests for help, the representatives ended the call, I called three times. Finally on the third attempt at 3:21pm, representative Godfrida informed me that no manager was available and requested a call back. This experience has left me frustrated and dissatisfied with the service, especially given my previous positive experiences with your company. As a loyal customer, I believe my concerns deserve to be addressed, and I would appreciate a thorough investigation into this incident to prevent similar issues from occurring in the future. I am more than happy to provide any additional details needed to assist in the investigation. I look forward to your prompt response and the resolution of this matter.

      Business Response

      Date: 02/10/2025

      Please see the attached response.

      Customer Answer

      Date: 02/11/2025

       
      Complaint: 22898950

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

      Sincerely,

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

      Business Response

      Date: 02/20/2025

      Please see the attached response.

    • Initial Complaint

      Date:01/31/2025

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I am writing to formally file a complaint against Fay Servicing regarding their failure to provide online access to one of my loan accounts. Despite multiple attempts to resolve this issue, I have been unable to gain access to the loan in question, and I have not received adequate assistance from their customer service team. They will not let me speak to a supervisor or ************ are the details of my complaint:Loan Account ending : 4961 Issue:Since the origination of this loan, I have been unable to access it online through Fay Servicings dashboard.I currently have 10 other loans with Fay Servicing, all of which are accessible through a single online dashboard. However, this specific loan is not visible or accessible, despite being under the same servicing provider.Attempts to Resolve:I have contacted Fay Servicings customer service team multiple times to address this issue.Each time, I have been given no clear explanation or resolution, and the problem persists.Request:I urgently need someone from Fay Servicings management team to contact me to resolve this issue.I request that they provide immediate online access to this loan account, consistent with the access I have for my other loans.This lack of access has caused significant inconvenience and frustration, as I am unable to manage this loan effectively. I trust that the BBB can assist in facilitating a resolution with Fay Servicing.Please feel free to contact me at ************ or ********************* if you require additional information or documentation. I look forward to your prompt assistance in resolving this matter.

      Business Response

      Date: 02/04/2025

      Please see the attached response.

    • Initial Complaint

      Date:01/27/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Fay Servicing took over my home loan 1 year ago. Today I received a new bill for $437.87 more for my monthly home loan payment ($1920.86) which seems outrageous to me. I have had my bill go up over the years due to property taxes and insurance going up but never for such a large amount. I was told it was because my escrow account was empty and I needed to repay?? I have never been notified of this and I would think a company would contact their customers and have them start making smaller payments to to get this caught back up, if there was actually a shortage?? I am not sure who has the funding to just add almost $500 to their monthly outgoing bills!! I feel this seems like very sketchy tactics from this company and I would never suggest doing business with them!

      Business Response

      Date: 01/30/2025

      Please see the attached response.

    • Initial Complaint

      Date:01/22/2025

      Type:Product Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      We received a letter from fay servicing indicating that they issued a refund check to our new servicing company. However, the new servicing company did not receive the check but every time you phone fay servicing they disconnect the call and transfer you to numerous people. Please can you issue the refund check to our home address via recorded delivery with immediate effect.

      Business Response

      Date: 01/29/2025

      Please see the attached response.

      Customer Answer

      Date: 02/02/2025

       
      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

      Sincerely,

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

    • Initial Complaint

      Date:01/16/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Complaint Regarding Unpaid Invoices and Unfair Lending Practices This letter constitutes a formal complaint regarding the difficulties we have encountered in attempting to pay our mortgage with Fay Servicing.

      Business Response

      Date: 01/28/2025

      Hello,
      We have attached our response for your review.

      Thank you

    • Initial Complaint

      Date:01/09/2025

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      September 2024 to current: I have an Affordable Housing/Community Engagement iniative in ******* **, ************. We are revitalizing a community where we live and serve. My company has two mortgages with Fay Servicing. I have had difficulty with transmitting monthly payments for one of the mortgages during this time period. I had to make payments via phone technology as their system only allowed online and App payments on the first mortgage account. I had contacted this servicer about the issues before and during this period. In August 2024, Fay Servicing stopped providing statements which were mailed to my home address for both mortgages. In September, I contacted them to inquire why the statements were stopped and requested reinstatement. Finally when I was able to speak to a manager, I was provided the *** information to make the past due and current due payments. During this time, this company was foreclosuring on my company's property and we had not received any notices . It was confirmed that they had the correct home address (where the statements were mailed), email, and phone number. Also, I paid the interest and late fee and requested reimbursement of these fees since it was the company that was not addressing my payment transmission issue. My company's property is scheduled for foreclosure this month. We have a Section 8 tenant renting the property. I have requested reinstatement. Fay Servicing should be responsible for all costs to reinstate the account. I consulted an attorney since the company already has a large lawsuit for similar issues that I have had. I have included the article from the ****. I would like the company to reinstate my account by 1/22/2025 and apply the interest/late fees that I have paid to my mortgage and take responsiblity for their attorney/foreclsoure fees. I have 5 mortgages with 4 different companies current, have been a home owner with mortgages for 25 years and I have never had this issue with a company.

      Business Response

      Date: 01/13/2025

      Please see the attached response.

      Customer Answer

      Date: 01/22/2025

       
      Complaint: 22787526

      My account has been reinstated which is great, however, I am rejecting the fees that should have never occurred if their system allowed me to submit my payments. This company has a current lawsuit related to what I have experienced and I have added my claim.  

      Sincerely,

      ******* ********-*******

      Business Response

      Date: 01/27/2025

      Please see the attached response.

    • Initial Complaint

      Date:01/06/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Due to financial constraints, I had to file for chapter 13 bankruptcy in April of 2018. My mortgage was, at that time, through **************** with a VA loan. My bankruptcy was completed in 2023 with everything current. In February 2024, my account was sent to ********************. The worst business that I have ever encountered in my life. I was told in March 2024 that my mortgage was not due until November 2024 by *** ********. I get a call on July 10th 2024 stating my mortgage was passed due. I was told money was "inappropriately applied to my account".I continued making payments from that point even though there was no communication from them telling me anything. I get an escrow analysis in November stating that my balance was in the negative and my payment would increase from 668 to 864 a month. As I finally get answers from them, they changed me a "recoverable corporate advance fee" of ******* and was told it was due to me filing bankruptcy. This company did not even have my account until my bankruptcy was discharged by nearly a year. I had to consult my attorney where he informed me that the charge was illegal as they had to file a notion in the court in order to recover more money as my debt was all repaid. I know have to pay my attorney yet again to represent me in order to get this charge removed. I have copies of all statements since the February acquisition and I statement breakdown of the recoverable corporate advance fee. This charge is unjust and unconstitutional and I feel I have been discriminated against due to the fact that I had to file for bankruptcy. My ask is that this corporate advance fee be credited back to my account and my mortgage payment put back where it was. I already have my attorney notified of the situation and legal action will soon be taken on Fay Servicing. How can a business add a charge like this even when they never had my account until nearly a year after my bankruptcy?

      Business Response

      Date: 01/13/2025

      Please see the attached response.

    • Initial Complaint

      Date:01/02/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      On Sunday December 1st I wrote a mortgage payment to Fay Servicing and post marked it at the post office on Monday December 2nd. I have a 15 day ***** ******* I received a call from Fay Servicing on 12/23/24 asking why my mortgage payment was late. I informed the Fay Servicing agent that I had mailed the mortgage payment and that the mail was post-marked with the date I mailed it. Today, I received a notice from Fay Servicing charging me a Late Charge fee of $72.54. I called Fay Servicing to remove this late charge fee because I had mailed my payment in plenty of time to be received before December 15th (end of the ***** period for the month). The organization has refused to remove the charge. Therefore, I am seeking a resolution with the Better Business Bureau.

      Business Response

      Date: 01/07/2025

      Please see the attached response.

      Customer Answer

      Date: 01/10/2025

       
      Complaint: 22752375

      I am rejecting this response because: I am glad that Fay Servicing has referred my issue for a waiver. I would like to uphold this offer. Fay Servicing needs to be aware that I am a senior citizen and I am more comfortable writing a check and putting it in the mail monthly. I have a record of early payments on file that they could review.

      Sincerely,

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

      Business Response

      Date: 01/14/2025

      Please see the attached response.

    Fay Servicing LLC is NOT a BBB Accredited Business.

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