Fay Servicing Reviews

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New Reviewer
I sold my property in May 2020. The title company received the payoff letter from Fay and paid per the the letter at closing the amount due. Three weeks later Fay returned the wire payoff to the title company stating the amount wasn't correct. My taxes and insurance...
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1 comment
#2024605

They are the most unethical and should be classified as an illegal company. Bullies and unprofessional

ID
#2332127 Review #2332127 is a subjective opinion of poster.
Service
Fay Servicing Mortgage
Pros
  • Dont have any
Cons
  • Business practices
  • Customer service
Loss
$130000
Preferred solution
Full refund
New Reviewer

No response

It is amazing that a servicing co. gets paid for servicing a loan and yet they completely rely on automated letters. They don't insurance when they are supposed to and when you submit it to the email provided, somehow they never get it so they can force place insurance. Been leaving messages to their escrow department including emailed their manager and to this date, no response. If your lender transfers the loan to this servicer, run or pay it off, nothing but headaches.

User's recommendation: Run.

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ID
#3118164 Review #3118164 is a subjective opinion of poster.
Location
Los Angeles, California
Loss
$1315
Preferred solution
Let the company propose a solution

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Verified Reviewer
New Reviewer
So many things went wrong from the very first month they bought the loan from Wells Fargo. First ,when getting approved for a loan modification the guidelines are very clear, make 3 payments on time. I made two on time payments to Wells Fargo 3rd Payment was to be made...
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ID
#3094740 Review #3094740 is a subjective opinion of poster.
Location
Greenville, South Carolina
New Reviewer

Sating escrow is short

I recieved a letter from fay saying that we were over 700.00 short on our escrow account.They said our home owners went up over 400.00 and the rest was taxe increase.Our home owners stayed exactly the same and our taxes went up 21.00 a quater thats only a shortage of 84.00 so from my math we are 84.00 short had the insurance company send the lettersaying that home owners stayed the same.Fay says they never recieved the letter and throws it right back at us again your under by over 700.00.This company must have learn on the job for company requirements,they are useless and bordeing criminal conduct.Get away from them as fast as you can.

User's recommendation: Stay as far away from this company as you can.

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ID
#3070549 Review #3070549 is a subjective opinion of poster.
Location
Springfield, Illinois
Pros
  • No pros just cons
Preferred solution
Apology
New Reviewer

No help the worse service

Original review updated by user Sep 18, 2021
My loan was acquired by Fay servicing in April 2021 from Rushmore loan management with only 15 days notice. After dealing with Rushmore for 7 months and promised a deferment it is now in Fays control, and they promised to finish the process that was promised by Rushmore, but instead they did nothing say cannot help and attached fee fees.Never ret calls Never get the same person on correct info
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ID
#2881055 Review #2881055 is a subjective opinion of poster.
Location
Springfield, Illinois
Preferred solution
A solution to the problem created by covid 19 . an application for the homeowners asst fund offered thru the treasury dept

Trying to illegally take my property.

I ended up with these people because Wells Fargo got in trouble and sold my home loan to a predatory debt collection company and I've been fighting for my house every since I pay them 918.97 a month only 91.62 goes to my principal. Because of the way they report them selves to credit bureau they are not considered a mortgage company so it makes it impossible to refinance under any other company can someone please advise me on how to get away from this company.

User's recommendation: We need to come together I'm sure it's not just me.

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1 comment
#2089588

I'm caught up with this disaster as well, this is a nightmare.

ID
#2809900 Review #2809900 is a subjective opinion of poster.
Location
Columbus, Georgia

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Verified Reviewer
New Reviewer

Misleading

They took over my loan (not my choice) i was in the middle of a loss midigation with the previous company going great Fay took over made me start over said all was good then only after they did a apraisal found out all the equity in the property denied my app. and are threatining forclosure

User's recommendation: Stay away from them.

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ID
#2677717 Review #2677717 is a subjective opinion of poster.
Loss
$600000
Preferred solution
Let the company propose a solution
New Reviewer

Horrible Service!

I have been trying to get a reinstatement figure for over 2 weeks to reinstate a property that was in foreclosure. Was advised that it takes 3-5 business days. I explained that after 5 days the FC would have taken place. Sorry. This is how our company requests payoffs/ reinstatement figures. Fay Servicing has the WORST customer service. I caught them in lies on several occasions. AVOID! COMPANY IF POSSIBLE!

User's recommendation: AVOID THIS COMPANY!

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ID
#2651567 Review #2651567 is a subjective opinion of poster.
Location
Carrollton, Texas
Cons
  • Poor customer service
Preferred solution
Deliver product or service ordered

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Verified Reviewer
New Reviewer

Refuse to accept payoff

This has been going on for more than a year and Fay Servicing will not accept the payoff for the property I sold May 2020 and have now filed foreclosure on the current property owner which has a mortgage in good standing with Quicken Loans. The title company's attorney, my attorney and Fays Attorney have been in communication since last July and Fay keeps upping the payoff

User's recommendation: avoid using Fay Servicing at all cost.

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ID
#2616740 Review #2616740 is a subjective opinion of poster.
Location
Saint Petersburg, Florida
My mortgage has been sold several times. I ended up with Mr. Cooper then Fay Servicing. Unfortunately Mr. Cooper and Fay are divisions of the same company with the same shady corporate practices. When my mortgage was "sold" (aka reassigned) to Fay Servicing, I was sent...
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ID
#2606822 Review #2606822 is a subjective opinion of poster.
Location
Portland, Maine
Pros
  • Dont have any
Cons
  • Deceptive practices
  • Poor customer service

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Verified Reviewer
New Reviewer

No resolution to lien release !!

After several calls and on hold for an hour one time and 35 min another time. Multiple requests for lien release on property that has been paid off since October 2020. This is June 2, 2021. Horrible customer service each time. I have sent emails, left voicemails and still no resolution.

User's recommendation: Do not use this company if you can avoid them.

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ID
#2583793 Review #2583793 is a subjective opinion of poster.
Service
Fay Servicing Mortgage
Pros
  • Dont have any
Cons
  • Miscommunication
  • Lacking al
  • Customer service
Loss
$40000
Preferred solution
In need lien release immediately
Fay Servicing - Escrow Taxes
I had my taxes escrowed they are paid late and liens on my house with penalties NOT impressed with service of this company 2021 Very disorganized for a financial company paying customer taxes late when they have more than enough funds in escrow 5K bill was $500.00 They...
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1 comment
#2024611

They didn't pay my taxes on insurance on time.. Taxes were paid when i called them and notified them they were late.

My insurance was due in April, I sold the property in May and they didn't pay the insurance so it lapsed. After the closing of the sale of the property they bought forced insurance and returned the payoff to the title company saying the the payoff was short due to the insurance.

We added the difference that they said we needed to add, resent the funds and again Fay returned the payoff( 3 weeks later) still saying that it was short. A year later (after i hired an attorney and the title company's attorney has been trying to get this closed) Fay filed foreclosure on the property and the current owner.

ID
#2551670 Review #2551670 is a subjective opinion of poster.
Location
Danbury, Connecticut

It stinks

The amount of escrow I owe varies with each person I speak too. The amount keeps rising ! I submitted information advising the company of my new insurance and thus far it has not been applied. At this point I am thinking about hiring a real estate attorney to investigate the problem.

User's recommendation: Don't use them ! They are a rip-off.

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1 comment
#2024612

Get an attorney. They will never give you a straight answer

ID
#2541052 Review #2541052 is a subjective opinion of poster.
Location
Saint Louis, Missouri
New Reviewer

Why i have to pay extra charge of paying by phone at this time

i called the number 180******** and the their call center answer i told them i will pay my bills but she don't mentioned about the extra pay so i go for it but when i look at my account i was surprised for the extra payment added to my normal obligation, why i have to pay extra is this a robbery ...?

User's recommendation: dont talk to the call center of fay servicing.

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ID
#2505351 Review #2505351 is a subjective opinion of poster.
Loss
$12
Preferred solution
Full refund
New Reviewer

I was forced to file chapter 13

I tried several times to work with this company. They are not trying to work with you, they are just riding the clock out until after covid so they can take your property. It is a shame that with everything going on in the work now days, you have to deal with thieves trying to take the last thing that you have. They are not following the laws and not trying to work with you at all. I filled out (2) hardship applications of which I have not gotten a response back on. Mailed payments that have been returned after all of there bogus late fee and lies. Maybe now I can sleep at night.
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1 comment
#2004850

Same I was forced as well to file chapter 13. I was 2 payments behind when my loan was sold to them and I offered to make one payment and just ask that they work with me on the other one.

they said that they could not accept a payment and sent me a package with paperwork to see if I qualified which they sat on for months then sent back that I only qualified for short sale.

Said we could not afford the house and that we were to old to finish paying for it anyway ! THEY WILL NOT GET MY HOME!!

ID
#2501939 Review #2501939 is a subjective opinion of poster.
Loss
$2500
Preferred solution
Refund for all bogus fees and accountability through the Fair Consumer Agency.

Account Manager Kyle ( wouldnt give me his last name or his managers name)

Calling to discuss my remodification and he was incredibly rude and not personable. I asked to be transferred to his manager and he said no. He said to me " My personality doesn't have anything to do with my job) after I told him he was being rude. Each time I tried to explain my issues, he said his computer doesn't lie. Who ever his mangers are needs to listen to his calls to explain that he doesn't have to speak to people in any tone and make them uncomfortable in any way.

User's recommendation: make sure you record all of your calls yourself.

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1 comment
#1998536

There's no such thing as a "remodification". The issue isn't his attitude, it's the fact you're not making your mortgage payments..

As agreed. Pay your bills and you don't have to speak with anyone.

ID
#2483507 Review #2483507 is a subjective opinion of poster.
Location
Troy, New York

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