Business Profile
Mortgage Lenders
Fay Servicing LLCThis business is NOT BBB Accredited.
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Reviews
This profile includes reviews for Fay Servicing LLC's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Review Ratings
1.05/5 stars
Average of 85 Customer Reviews
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Review fromCarol T
Date: 04/04/2025
1 starCarol T
Date: 04/04/2025
This is the worst company I have ever dealt with! My loan was transferred and I can not get into my online account to make the payment and I can not reach anyone by phone!!Fay Servicing LLC
Date: 04/07/2025
Hello Carol T,
We have received your message; however, we are no longer the servicer of your account. You were provided with the contact information for the new servicer in our letter dated March 3, 2025. We encourage you to contact them directly. Thank you for contacting our offices regarding this matter.Review fromBecky T
Date: 03/08/2025
1 starThis is by far the worst mortgage company ever. Our mortgage got sold to this company and the keep messing with our escrow. No communication with in their company and no communication with their customers. I closed my escrow account and they still paid my house insurance. Most screwed up mortgage company ever.Review fromKimberly B
Date: 03/02/2025
1 starMy account was sold to Fay Serving LLC. I’ve read all the reviews because I am currently having a bad experience in terms of every bad example mentioned by customers who entered a review. I would be more than willing to partake in a CLASS ACTION LAWSUIT here in *****. I would like to sue them for forgery, fraud, theft and overall total incompetence and mismanagement of mortgage account. I have reason to believe that they receive kickbacks from these greedy real estate investors which is why they attempt to smoke people out of their homes. I also read the investigation / lawsuit against them from the Consumer Financial Protection Bureau (CFBC). It just validated my suspicion and speculation even before I checked their BBB reviews. So, apparently they are continuing to get away with it and it is sad and unfortunate. They will eventually be brought to justice and punished for their crimes. Fay Servicing LLC is not reputable and DO NOT deserve to be operating as a mortgage servicing company. I agree that 1 star is more than they should have. Too bad rotten tomatoes isn’t the option.
Review fromBradford C
Date: 02/26/2025
1 starFay Servicing continues to delay depositing my payment on time. Sent the 3rd or 4th of each month, they claim to not receive it until I circle back later in the month. Once the call is finally accepted; they then cash the check, thus charging me late fees. Seems like I have busted their gaming of fees, etc. Then when you call, watch out! They will hang up the phone...Such a joke! Further investigation will be brought upon them very shortly.Review fromErik D
Date: 02/19/2025
1 starFay Servicing is the most unfortunate loan servicing company you could possibly be made to deal with. I hate that my loan was given to Fay Servicing for mortgage servicing. **************** is there to strictly and only answer the phone but they have zero knowledge or training on what to do. After you long hold time, a customer service representative will answer with an exhausted attitude that they don't know anything and cannot help you. ******** company, **********.Review fromTammy H
Date: 01/07/2025
1 starOur loan was transferred to Fay Serv in Feb of 2022 and we have had nonstop issues with them. This is a multi-property (18) loan and it was 2 months old when it was transferred to them and within 4 months, they added Forced Placed Insurance on the loan to the tune of $58k. The original lender would not have done the loan without evidence of insurance on each property and they would have provided that information to Fay so there was no reason for the Forced Place Insurance. After many phone calls and hours of time, the issue was resolved and Fay credited our account back for all the insurance charges. Per our original loan documents, the payment is due on the 1st of the month and there is a 15-day grace period and any late payments will be charged 5% of the payment amount as a late fee. Fay Servicing has decided to change the terms of our original loan to a 5-day grace period and a 10% late fee. When I questioned them about this, their outsourced customer service representative told me they did not have copies of our original loan documents so they needed to request them before she could answer my question as to why they changed the terms. When I spoke with a different outsourced customer service representative the next day and asked the same question.... she told me that they set up our loan based on the original loan documents and are only doing what the original loan docs state, which is not true because I have the original loan documents so I know what they say. I have discussed this with multiple people, bankers, mortgage officers, attorney and everyone I have spoken to has said that Fay (or any servicer) does not have the right to alter the terms of the original Note and Mortgage so I don't understand how Fay Servicing can get away with this.Review fromJon G
Date: 12/19/2024
1 starJon G
Date: 12/19/2024
Fay Serving bought my loan while I was in the process of selling it. The timeline they are presenting to offer me a loan number is costing me the deal. If I could give less than 1 star, I would.
Fay Servicing LLC
Date: 12/23/2024
Hello Jon G,
We have received your message; however, the review section is not a secured platform to discuss account details. We encourage you to contact us at our email address, ***************@fayservicing.com for assistance. Thank youReview fromMelinda s
Date: 11/14/2024
1 starOur mortgage was sold to *************** also We have not had a great experience with them .They helped one time and took advantage of the situation. Now we pay 1156. A month and only ***** goes to principal. We were younger and really didn't understand the whole thing. Worst customer service. When I finally spoke to someone about a deferment due to some extraordinary misfortune all at one time. She said she would send paper work and gave me hope. Unfortunately as they quoted in their response was not able to accept all that we were going thru. My husband lost 1 and half week work due to Hurricane Helania I had a stomach flu for over a week both our vehicles broke down, ( around 3000. 00 worth)I had Covid and missed a lot of work that month and then was in the hospital in critical care for 4 days. So asked about deferment and turned down. The letter stated that we owed 2 months and late fees and if not paid that foreclosure would begin. Well we are struggling to get this money up and the next payment due to their lack of compassion and know they would rather take our home we have raised our family in and cared for my elderly grandmother and mother unit they pasted away. I am Mon disability now and waiting for approval and will receive 1000 Every 2 weeks in which I have to pay my medical through work.thts 383 At each check. So inturn will be making 600 For 2 weeks un til able to go back to work full time. We are a 2 income family always have been. We have used all our savings this past year as I had surgry, and in and out of hospital for medical but kept our mortgage on time til now. So discouraged and angry with *** services because they would rather take my home and sale it instead of help me.Would not give them a star at all but wouldn't accept my review other wise. If you have other options please stay away from *** they make up their own rules and not recommend by the BBB. Check it out.Review fromDj D
Date: 11/13/2024
1 starDj D
Date: 11/13/2024
Unfortunately, the mortgage loans for a few of my rental properties were transferred to this unprofessional and incompetent company. During this servicing transfer time from the old servicer to Fay Servicing there was a break down in communication between myself and the new servicer, Fay Servicing. It has been my past experience, most mortgage companies allow for up to a 60-day ***** ******* to allow the borrower to set up their new accounts with the new servicer and resume making monthly payments. In this case, Fay Servicing did not provide this ***** period and began charging me all types of fees and penalties. They are charging me Default interests on these loans for days the loans were not even in default. I had to come out of pocket several thousand dollars to pay this Default Interest. Fay Servicing went as far as to locking the payment feature on my online account so that I could not make my loan payments until all penalties and fees were paid in full. To make matters worse it is extremely difficult to contact this company and when you finally get through, the people they have working at this company are extremely incompetent and rude. If you reach an agreement with them over the phone, they fail to follow through on that agreement. Then you call back requesting an explanation, and the next customer service *** has no idea what is going on, so you need to explain the problem and issues all over again, it is like going in circles, no matter how hard you try, nothing gets completed or resolved. Meanwhile, days go by, and they keep on charging all types of penalties and fees. When it comes to charging fees and penalties to their borrowers, they are experts and waste no time at all. Never in my 12 years of dealing with mortgage companies have I experienced a company like Fay Servicing. Their atrocious reviews all over the internet and here (BBB) speak for themselves. Hopefully, the government intervenes to protect consumers from mortgage companies like this.Fay Servicing LLC
Date: 11/14/2024
Hello Dj D,
We have received your message; however, the review section is not a secured platform to discuss account details. We encourage you to contact us at our email address, ***************@fayservicing.com for assistance. Thank youReview fromRachael L
Date: 10/03/2024
1 starSold my house on Sept 26. ************* phoned *** the day before to confirm the payoff amount. Sept 26 they sent the funds to Fay Servicing. Then, *** CHANGED the amount needed to payoff, by an additional $10,000. I was told the funds from the settlement company couldn't be applied until I paid this extra amount. Sept 27 I sent the$10,000 to ***. The extra amount I paid left my checking account on October 1st October 2nd the funds from selling my house were STILL NOT applied. On the phone someone at *** confirmed they received the find on Sept ****** it is October 3rd, a full week since *** received the funds, and they have STILL NOT been applied. I have emailed and spoken on the phone. All without success!They keep tacking on extra fees and say they cannot apply the funds until all the extra fees have been paid. *** needs to investigate this company.
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