ComplaintsforFay Servicing LLC

• Initial Complaint

  03/26/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  The mortgage or provides options that they state are reliably forms of payment for Mortgage are not honored. They contacted me to let me know that they did not receive my payment after the deadline. This is common for this mortgage company to post payments past the deadlines and refusing to provide updates for mail and payments. I certified mail my payments for the mortgage this month. When they called me, they acted as if they didnt know what could possibly be going on with my payment. I looked up the weather and ******** had torrential snow that prevented mail service. Not only did they attempt to charge me a late fee, but they attempted to cash my canceled check Ill bite the fact they received our payment via their portal, and I let them know that I was going to cancel. My check We paid the mortgage immediately. Upon notice of the payment not being located. we are demanding that they waive the late fee. I took care of the check that took almost 3 weeks for them to contact me and tell me that they did not receive the payment. I attempted to settle this with the mortgager and they now claimed that they do not provide credits if its with in a year. In my opinion, theyre looking for reasons to up charge. Not to mention, they have consistently rejected my payment even though I have funds and its through means that they claim they accept. This has been through bill, pay, checks, etc. Ive had to certify Mail all my payments because their accountancy and follow up is poor. Trust them with having permission and access to my checking account.

  Business response

  04/04/2024

  April 4, 2024
  
  ***************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000313867
                                  Property Address:                           *************************************************************
                                  BBB Complaint Number:               21476679
  
  Dear ***************************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on March 26, 2024, regarding your above-referenced mortgage loan. Fays responses to the specific concerns raised in your complaint are provided below.
  
  In your complaint, you express concerns regarding the late payment and request that the assessed late fee be waived.
  
  After completing a reasonable investigation,we concluded that your loan payments are due on the 1st of each month and the loan has a fifteen (15) day grace ****** before a late charge is assessed to the account. Please find attached a copy of the Note dated October 15, 2021, for reference. *** acquired the loan for servicing on January 14,2022, while due the loan was contractually due for March 1, 2022. Please find attached a copy of the *** Account History for reference. On January 29, 2022,*** reversed the payment for $4,210.16 which was previously applied to satisfy the contractual installment due for February 1, 2022. The payment was reversed due to your prior servicer discovering that funds applied to your account had been returned due to insufficient funds. Your online account was then registered on February 12, 2022, which we confirm is currently accessible to you; the date you last accessed www.fayservicing.com was on April 3, 2024. On February 12, 2022,you processed an initial online payment as the one-time draft of $4,210.16,effective for February 12, 2022. The payment was processed from the bank account number ending in 8418. On March 5, 2022, you processed an online payment as the one-time draft of $4,210.16, effective for March 5, 2022. The payment was processed from the bank account number ending in 8418. *** received the two payments both for $4,210.16 on February 12, 2022, and on March 5, 2022. The payments were applied to satisfy the contractual installments due for February 1, 2022, and March 1, 2022.
  
  You then began to mail in payments during April and May of 2022. On April 13, 2022, you called in to inquire about if *** had received your payment and the *** representative explained it had not been received at the time. On April 16, 2022, *** received the payment in the amount of $4,210.16 which was applied to satisfy the contractual installment due for April 1, 2022. On May 9, 2022, *** received the payment in the amount of $4,210.16 which was applied to satisfy the contractual installment due for May 1, 2022. On June 13, 2022, you called in and scheduled the one-time draft of $4,210.16 effective for June 13, 2022, using our televoice system. It is important to note that this payment was processed from a different bank account number ending in 1713. On June 13, 2022, *** received the payment of $4,210.16 which was applied to satisfy the contractual installment due for June 1, 2022.
  You then processed seven (7) online payments from July 11, 2022, through January 12, 2023, which satisfied the contractual installments due from July 1, 2022, through January 1, 2023. Our records show that each of the online payments processed during this ****** were processed from the bank account number ending in 8418.
  
  On February 10, 2023, you called in to express concerns because payments that you were sending through an auto-bill pay option with your bank were being returned. Our records show that a representative from your financial institution was connected to the call during this time and informed us that they were electronically transferring the funds (EFT). However, *** does not accept electronic fund transfers (EFT). Our records indicate that you mailed the payment intended to satisfy the contractual installment due for February 1, 2023. During the month of February 2023, *** received two payments which were applied to the loan on February 13,2023, and on February 17, 2023; 1) on February 13, 2023, *** received the payment in the amount of $4,210.16 which was applied to satisfy the contractual installment due for February 1, 2023. 2) on February 17, 2023, *** received the payment in the amount of $4,210.16 which was applied to satisfy the contractual installment due for March 1, 2023. On March 11, 2023, you processed an online payment as the one-time draft of $4,210.16, effective for March 11, 2023. The payment was processed from the bank account number ending in 8418. On March 11, 2023, *** received the payment in the amount of $4,210.16 which was applied to satisfy the contractual installment due for April 1, 2023.
  
  On April 13, 2023, you called in to inquire about if *** had received your payment intended to satisfy the contractual installment due for May 1, 2023. The *** representative explained it had not been received at the time. You stated that the check was sent via express mail,and you confirmed that it was delivered. Please understand however that physical checks received in our mailroom are forwarded to our Payments Team for processing and the payments may not immediately appear posted to your loan at the time that the delivery has been confirmed. However, all payments are credited to the loan effective the day of receipt. On April 13, 2023, *** received the payment in the amount of $4,210.16 which was applied to satisfy the contractual installment due for May 1, 2023.
  
  On May 11, 2023, you processed an online payment as the one-time draft of $4,210.16, effective for May 11, 2023. The payment was processed from the bank account number ending in 8418. On May *******, *** received the payment of $4,210.16 which was applied to satisfy the contractual installment due for June 1, 2023.
  
  During the month of June 2023, *** received two payments which were applied to the loan on June 12, 2023, and on June 15,2023; 1) on June 12, 2023, *** received the payment in the amount of $2,105.08 which was initially applied towards the principal balance of the loan. 2) on June 15, 2023, you processed an online payment as the one-time draft of $2,105.08, effective for June 15, 2023. The payment was processed from the bank account number ending in 8418. On June 15, 2023, *** received the second payment of $2,105.08 which was initially applied to the principal balance of the loan.On June 21, 2023, *** reversed the two payments previously applied to the principal balance of the loan and the funds were placed into the unapplied funds account. However, there was an inadvertent delay in the application of the payment at the time. On July 17, 2023, *** assessed an inadvertent late charge of $210.51. Our records show that it was not until July 21, 2023, when *** submitted a request to have the unapplied funds in the amount of $4,210.16 applied to the contractual installment due for July 1, 2023.
  During this time however, you simultaneously processed an additional online payment as the one-time draft of $4,210.16,effective for July 21, 2023. The payment was processed from the bank account number ending in 8418. On that same day, July 21, 2023, *** received the payment in the amount of $4,210.16 which was intended to satisfy the contractual installment due for August 1, 2023. However, these funds were misapplied to the contractual installment due for July 1, 2023.
  
  On August 16, 2023, *** inadvertently assessed a second late charge of $210.51; however, our records show that late fee waiver requests were submitted during this time. On August 21, 2023, *** reversed the previous payment of $4,210.16 which was misapplied to the contractual installment due for July 1, 2023, and placed the funds in the unapplied funds account resulting in a total of $8,420.32 in unapplied funds. On that same day, August 21, 2023,*** withdrew the unapplied funds in the amount of $4,210.16 and applied them to satisfy the contractual installment due for July 1, 2023, with an effective date of June 15, 2023. *** then withdrew the unapplied funds in the amount of $4,210.16 and applied them to satisfy the contractual installment due for August 1, 2023, with an effective date of July 21, 2023. The two assessed late charges of $210.51, were waived as of August 21, 2023. We regret any inconvenience and/or frustration that this may have caused.
  
  Our records show that you have since processed six (6) online payments from September 13, 2023, through February 16,2024, which satisfied the contractual installments due from September 1, 2023,through February 1, 2024. Our records show that each of the online payments processed during this ****** were processed from the bank account number ending in 8418. The loan became contractually due for March 1, 2024. On March 18,2024, *** assessed a late charge of $210.51 because we did not receive the contractual installment due for March 1, 2024, within the grace ******. On March 18, 2024, you called in to inquire as to why the payment had not been posted as you stated that the check was mailed on March 4, 2024. The *** representative explained that the check had not been received and you expressed frustration that Fays system would only allow you to process payments from one bank account which is why you opted to mail in the payment. However, we are unaware of any issues which would have prevented you from utilizing a separate bank account to process the payment which our records show you have previously utilized two separate bank accounts to process payments. Further, there is no record of you calling in to request payment assistance from a *** representative during the time when you may have encountered difficulties processing payments. If you or your banking institution mails a physical check to ***, this process is contingent on the ************* *************** ****** delivery timeframe and *** is unable to control any unexpected delays with **** mail delivery.
  
  On March 18, 2024, *** received the payment in the amount of $4,200.16 which was placed into the unapplied funds account at the time. On March 19, 2024, you processed an online payment as the one-time draft of $4,210.16, effective for March 19, 2024. The payment was processed from the bank account number ending in 8418. On that same day, March 19,2024, *** received the payment of $4,210.16 which was applied to satisfy the contractual installment due for March 1, 2024. On March 20, 2024, *** withdrew the unapplied funds of $3,989.65 and $210.51 which were applied to the principal balance of the loan and the outstanding late charge. We then received notification from your financial institution advising funds applied to your account were returned due to insufficient funds. Currently, we are unable to accommodate your request to remove the late fee as we determined that it is valid. We have attached a copy of the *** Fee History for reference.
  
  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 (3)

• Initial Complaint

  03/22/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Fay Servicing has charged my account for insurance that I have had for the last 3 years, **** insurance agent and company, Fay Servicing has charged my escrow account $1600.00 for insurance that I already have, I have emailed them several times over this same problem and nobody at Fay Servicing seems to care. They have overcharged me on 2 different accounts with them by adding forced placed insurance on condo's that I already have insurance on. Fay Servicing is nothing more than a bunch of crooks and stealing people hard earned money.

  Business response

  03/28/2024

  Please see the attached response.

• Initial Complaint

  03/21/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  We sold our house (closed around 12/4/23) and moved out of state. We were happy to be done with Fay Servicing. That did not last long. The buyer's attorneys check paying off our mortgage with *** was returned to us, the sellers. Not to the attorney that issued the check, and it was received by us a WHOLE MONTH after it was issued. It was returned as it was an **** check, not a certified check. Our attorney stated since COVID, **** checks (which are just as good as certified checks) have been used for mortgage transactions with no issues from other companies, as if a certified check gets lost, it can take 90 days to replace. Then, trying to talk to anyone at *** is next to impossible, thankfully we had an attorney (who also had issues getting timely communication from ***) handling our issue. Now we're in March of 2024, *** has reported several delinquent payments on a home we sold almost 4 months ago on our credit. Dropping my wife and my credit scores almost 100 points. I even had credit card accounts lower my credit limit due to this. My wife and I are unable to look for a new house as there is no way wed get approved for a new mortgage at this time. Its been a total nightmare. Our attorney states the mortgage should be paid off now, but *** turned off my ability to access my account online (this should be illegal) so I cannot even see if this mortgage has been paid off. My only option is to call. I have been waiting to talk to someone at *** for an hour now and finally decided to leave a message. However from past experiences, Im not expecting a call back. I need to ensure this mortgage is PAID OFF and the late payments being reported on our credit are fixed, as this was all no fault of ours. Between *** not accepting the check, taking a month to to send it back (to the wrong party), then not providing timely communication to us (the borrowers) or the 2 attorneys involved in this mortgage transaction, *** caused this situation by not communicating timely.

  Business response

  03/26/2024

  Please see the attached response.

  Customer response

  03/26/2024

   
  Complaint: 21461567
  
  I am rejecting this response because:
  
  Our credit is damaged due to no fault of our own. Because the buyer of our houses attorney not sending a certified check and the untimely return of said check by *** to US, not the attorney. Who could fix the issue. *** also was not communicating with us in a timely manner. ************************* was useless, calling my wife a liar that a payoff amount was never even requested. Then refusing to speak to us after we mentioned we had an attorney. Our attorney also had difficulty getting timely communication from ***. There is an error here to correct. Were showing late payments well after when I have documentation showing the house was sold. These needs to be corrected. As I mentioned, this issue was caused by the buyers attorney (*********************) and Fay servicing, not **** and *******************.

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

  Business response

  04/05/2024

  Please see the attached response.

  Customer response

  04/08/2024

   
  Complaint: 21461567
  
  I am rejecting this response because:
  
  All of this with the check not being accepted, and the unnecessary time it took to correct only negativity affects my wife ***** and I. We did not send the check to payoff the mortgage, the buyers attorney did, but yet the rejected check was returned to us from Fay Servicing and received in January as it was forwarded to ***************. Why did Fay Servicing not immediately contact the attorney from the check and request a certified check in place of returning to us via mail, who could do nothing about it? Then why did ************************* take weeks to talk to us, then took more time to speak to our attorney? Per the attached, transfer of ownership of this property happened on 12/20/23, how can you legally continue to charge us for a home we did not legally own? Our credit needs to be corrected immediately as this error (not caused by **** or *******************) is affecting us from obtaining a new mortgage based on the incompetence of what appears to be the buyers attorney and Fay Servicing. All of this negatively impacts just **** and ******************* because of *** Servings poor response to rejecting the check that was sent in to satisfy the mortgage. We will be contacting the credit bureaus to dispute this, as we clearly have been wronged here and are the only ones who face negative repercussions due to a situation that was totally beyond our control. Im also exploring legal options as all of the documents I have clearly proves that all this happened due to no fault of our own. The whole reason attorneys were used is to prevent situations just like this. I can certainly see why *** Serving has such poor reviews. Unfortunately, we were forced into being *** customers, we did not choose to work with this company.

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

• Initial Complaint

  03/13/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  UNEXPLAINED CHARGE FOR ' TOTAL FEES OR CHARGES' FOR MAYAPPLE LOAN NUMBER ********** AND BARNWELL LOAN NUMBER ***********. PLEASE DELETE CHARGES 110.09 AND 98.08.
  

  Business response

  03/22/2024

  Please see the attached response.

  Customer response

  03/25/2024

   
  Complaint: ********
  
  I am rejecting this response because: I selected the due date of the mortgage based on my use of the FAY website, which allowed me to make the change, and caused the so called late payment..

  It is, therefore, the fault of the FAY and its website, not me.

  My on time payment record is impeccable. Also, I immediately corrected the issue.

  Please re-evaluate the situation and withdraw the penalties.

   

  Sincerely,

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

  Business response

  03/29/2024

  Please see the attached response.

  Customer response

  04/03/2024

   
  Complaint: ********
  
  I am rejecting this response because: SELECTION OF A "LATE " DATE TO FOR FAY TO WITHDRAW THE ACH FOR THAT MONTH'S PAYMENT AND FOR THE REMAINING 360 MONTHS IS RIDICULOUS LOGIC. IF FAY DOES NOT CANCEL THE LATE CHARGE, COURT REMAINS MY ONLY OPTION.

  THIS ALSO APPLIES TO MY 14 BARNWELL ACCOUNT.

  PLEASE CLOSE MY ESCROW ACCOUNTS FOR MAYAPPLE AND BARNWELL.
  
  Sincerely,
  ****** *********

• Initial Complaint

  03/12/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Fay Servicing has escrowed my account and I never asked it to be escrowed! My other mortgage escrows my account and always has! So now *** has sent my payment from $183 a month to $686 which I cannot afford two mortgage payments that are the same! They have not helped me at all and have denied me any type of assistance!! They have been shady from the beginning! Now they wont accept any payment at all because since they escrowed my account it put me behind on my mortgage!!!

  Business response

  03/21/2024

  Please see the attached response.

  Customer response

  03/22/2024

   
  Complaint: 21417536
  
  I am rejecting this response because:

  *** did this and did not take responsibility! I tried to do a modification since they raised my payment and they denied it!! My insurance should have never been placed on there. *** forces people into foreclosure by false practices! I was never contacted back after our last phone call! 
  
  Sincerely,
  
  ***************************

  Business response

  04/02/2024

  Please see the attached response.

• Initial Complaint

  03/11/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I work for an attorney's office, we have a client whose home is about to be foreclosed on because Fay Servicing will not accept their $4,306 payment without giving any reason. The first time I called on behalf of our client on February 13, 2024, I got right through to a representative, who rejected our written third party authorization. Once the authorization was corrected and resent, the representative no longer answers. The automated system gives the opportunity to leave a voicemail, stating they will call back. After sitting on hold for about 10 minutes, the system will then force you to leave a message. I have left four voicemails now, each about a week apart, and have yet to receive any call back. All that I am attempting to find out is how our client can make payment, or why they will not accept it at this time. *************************** is the service agent I have called, and he is aware of the information I am seeking. I have never experienced anything like this, and I am fully convinced that they are rejecting payment/communication until the home is to be foreclosed on.

  Business response

  03/11/2024

  Hello *****************************,
  We are sorry to hear about your experience and regret that we are unable to locate the account with the provided information. So that we may further address this matter, please provide our office with the borrowers name, property address, telephone number, or loan number. We appreciate your assistance and will be in further contact with you upon receipt.

  Sincerely,
  
  Fay Servicing,LLC 

• Initial Complaint

  03/07/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Fay Servicing has been sending delinquent letters for my mortgage. My account was transferred to them from Rushmore lending. My account is up to date. When talking to an agent on 3/5 they would not give any information on my account. They didn't even have the correct account number on file. I am not paying them back 3 months on a mortgage that's up to date.

  Business response

  03/12/2024

  Please see the attached response.

• Initial Complaint

  03/05/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  December 1, 2023 Fay Servicing, LLC became the new Servicer of my Mortgage Loan. I called and spoke with a ************** January 2024 and requested copies off all documents received from my previous Loan Servicer. He promised to email this to me. I received a 2 page email which was a copy of the original loan document signed by my (deceased husband) dated 2012 when my husband originated the loan solely in his name.I received NO DOCUMENTS regarding my assumption/modification that was done after my husbands passing and signed December 2021.Now when I attempt to call Fay Servicing, LLC all my calls are routed an ******************** specifically the country of ********. Who actually is Serving my Mortgage. I cannot reach a living soul in the ***. In fact, the folks at the ******************* were excellent and professional on every level/more so than the ******* Crew were early on, before they handed me off to another country. They (the folks at the ******** ************ did not have any additional documentation to send me. My ****** *** backed loan, I am told is now a Conventional Loan though I have never signed Conventional Loan Paperwork. Again, I HAVE YET TO RECEIVE COPIES OF ANYTHING with my signature. I am terrified of *** Mortgage Servicing, LLC. Something is just not right about this situation. It is March 3 and I have not received a Tax Statement for taxes collected 2023, and again every attempt to call ends up being answered on a whole different continent. My access to my account using their Apple Application has vanished. This is Very Strange. When I attempt to sign on through their online website, my VPN will not allow me to proceed and I dare not turn my VPN off in my dealings with these Folks.I need my concerns addressed and all documents requested, promptly sent to me. Meeting Accountant in 15 days to prepare taxes and Fay Servicing, LLC is unreachable and non-accommodating regarding my tax document request.

  Business response

  03/14/2024

  Hello,
  Our response is attached for your review. Thank you
  
  

  Customer response

  04/03/2024

   
  Complaint: 21379529
  
  I am rejecting this response because:

  At this time we do not see any documents attached as stated in the letter. 
  
  Sincerely,
  
  *************************

  Business response

  04/11/2024

  April 11, 2024
  
  *************************
  Sent via BBB Portal
  
  RE:                          Account Number:                            0000365603
                                  Property Address:                           **********************************************
                                  BBB Complaint Number:               21379529
  
  Dear *************************:
  
  Fay Servicing,LLC (***) has received and reviewed the complaint that you submitted to the Better Business Bureau (BBB) portal on April 3, 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 you are rejecting the response because you are unable to view the attached documentation stated in the letter.
  
  
  Please find attached a copy of the enclosures referenced in our previous response. If you experience any further difficulties opening or viewing the attachments, please contact *** and we can mail the documentation to your designated address on file.
  
  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 (10)

• Initial Complaint

  03/04/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Fay servicing has been negligent in their servicing of ************. I have 3 major issues I need to be taken care of and have received no helpful progress on any front. - First: *** continues to purchase *********************** on my properties despite my having active insurance policies on them. I am being charged thousands of dollars a month more than I should be. This issue has been going on for months. - Second: My Form 1098 for 14 of my property mortgages are incorrect, showing a higher number than the dashboard currently shows (in an amount significant enough that it is highly unlikely this is due only to 2 monthly payments since the 1098 was processed - Third: I have about $100k of insurance claim checks that need to be endorsed in order to repair work on properties from major hail storm damage. I can't get direction on how to make this happen and am concerned that the money will be used appropriately.

  Business response

  03/13/2024

  Please see the attached response.

  Customer response

  03/19/2024

   
  Complaint: 21373425
  
  I am rejecting this response because:
  
  I have tried multiple times to get you the documentation you request, but without response from your team. I currently have emails waiting on reply from your team after sending the insurance documentation in question. I spent hours on the phone with support. I've uploaded the documents to your online insurance doc portal which stated I should have a response in 48 hours but I still don't have any response from ***. This is not the first time this has happened. The communication process with *** is a nightmare - if it were reasonable to communicate with ******** wouldn't have had to use BBB to get things taken care of. Just send me a real person's email address and I'll send you the documents. So far I'm unable to connect with a real person and have even been directed to send my documents to an unmonitored inbox (this was a serious suggestion from support, by the way). 
  
  Sincerely,
  
  ***************************

  Business response

  03/26/2024

  Please see the attached response.

• Initial Complaint

  02/26/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I had an insurance policy renewal for one of the properties date for December 9th, 2023 that was provided to myself and the lender as early as October 2023. *** reached out to them both by email and phone 8 times (I wish I was exaggerating) to make the payment. Every time I call they said they will make the payment and the payment is then never made. On Feb 8th, 2024 and my insurance broker confirmed with me because if their negligence, the policy cannot be reinstated and Im forced to seek new insurance. The new insurance cannot be reinstated for another 30 days. Therefore Im going to be without insurance coverage from December 9th, 2023 to March 8th, 2024 due to their negligence. My new policy will also be increased by $400. I also have to obtain a new 4 point inspection (cost $200). Theres also a permanent record on my file that my insurance policy was cancelled and that I had a property owner without coverage is a negative detail that permantely effects my reputation and ability to qualify for insurance and better premiums.

  Business response

  03/06/2024

  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. ↩