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BBB Business Review

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BBB Accredited Business since

Fay Servicing, LLC

Additional Locations

Phone: (800) 495-7166 Fax: (312) 278-2540 440 S La Salle St STE 2000, Chicago, IL 60605 View Additional Email Addresses

BBB Business Reviews may not be reproduced for sales or promotional purposes.


Fay Servicing, LLC is a specialty debt management and mortgage lender which provides services for both performing and non-performing mortgages, allowing them to assist homeowners in keeping their homes. Located in Chicago, IL, this company serves the greater Chicagoland area, including Schaumburg, Arlington Heights, Crystal Lake, Des Plaines, Mt Prospect, Tinley Park, West Chester, La Grange Park, West Chicago, St Charles, Lombard, Villa Park, Downers Grove, Wood Dale, Bensenville, Hanover Park, Elk Grove Village, Palatine, Buffalo Grove, Vernon Hills, Barrington, Lake Forest, Franklin Park, Melrose Park, Oak Lawn, Northbrook, Wheeling, Morton Grove, and Prospect Heights. The company has been in business since 2008 and operates across most of the country, including Iowa, Indiana, Kansas, Michigan, Minnesota, Missouri, North Carolina, and Pennsylvania.

The company provides a personal consultation to each homeowner, analyzing their budget to provide them with a complete picture of their mortgage. This gives them a realistic idea of their long-term financial health and what is possible with their mortgage. Next, the homeowner's personal contact with the company creates a customized solution made specifically for them, taking into account their long-term financial situation and their goals and needs. This solution is meant to ensure that they will be able to keep their home and will be able to make their payments. After the customized solution is made, Fay Servicing provides continuing assistance to the homeowner, making it possible for them to keep their home and continue to make their mortgage payments and not default on their mortgage.

Visit the website for Fay Servicing, LLC, to learn more about the services available from this company, read articles about the company, and contact the company to begin creating a customized mortgage solution.

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Fay Servicing, LLC meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Fay Servicing, LLC include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 41 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Customer Complaints Summary Read complaint details

41 complaints closed with BBB in last 3 years | 19 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 26
Billing/Collection Issues 6
Delivery Issues 3
Guarantee/Warranty Issues 0
Problems with Product/Service 6
Total Closed Complaints 41

Customer Reviews Summary Read customer reviews

9 Customer Reviews on Fay Servicing, LLC
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 9
Total Customer Reviews 9

Additional Information

BBB file opened: January 05, 2009 Business started: 09/08/2008 Business started locally: 09/08/2008 Business incorporated 04/22/2008 in DE
Type of Entity

Limited Liability Company (LLC)

Business Management
Mr. Ben Morris, Complaint Resolution MGR Mr. Edward Fay, CEO Marley Lustig, VP Compliance
Contact Information
Principal: Mr. Ben Morris, Complaint Resolution MGR
Number of Employees


Business Category

Mortgage Lender Financial Services Real Estate Credit (NAICS: 522292)

Alternate Business Names
Fay Mortgage Services

Customer Review Rating plus BBB Rating Summary

Fay Servicing, LLC has received 3.68 out of 5 stars based on 9 Customer Reviews and a BBB Rating of A+.

BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.