Consumer complaint received 2018-12-10
Company: Fay Servicing, LLC
State: MD
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
For the past few weeks I have been going through the process of applying for a loan modification with my current mortgage servicer. I have been working with my assigned Account Manager to supply all the documentation to submit a complete package for review. On XX/XX/XXXX I was informed that I had submitted a full package and it was submitted for review. On XX/XX/XXXX I received a Voice Mail from my Account Manager. On the morning of XX/XX/XXXX I returned his call and left a voice mail but never received a return or any correspondence even to today. 
On XX/XX/XXXX I received a letter from the Servicer detailing an offer of a Dee-in-Lieu and giving me a 14 day deadline to accept their offer of a Deed-in-Lieu of face a  foreclosure action. The letter mentioned nothing about being denied a loan modification or any reasons for said denial and is the only response i have received. Furthermore the letter was dated XX/XX/2018 ( see attached letter ) but the envelope was clearly postmarked XX/XX/2018 and not delivered to me until XX/XX/2018 allowing me 14 days to appeal the decision. The lack of timely execution actually leaves me only 8 days to respond. I shared and discussed the letter with my attorney and we researched the requirements outlined by the Consumer Financial Protection Bureau and we do not believe this is an appropriate response to my Loss Mitigation Application. I was asking for a Loan Modification. The Servicer didnt bother to tell me I was denied a loan modification or to the extent Im supposed to interpret this letter that talks about a deed-in-lieu. I dont know what I am appealing.. How do I appeal a loan modification request when I have no information on why I was apparently denied a loan modification because they didnt tell me why I was denied? Also I know there are other loss mitigation remedies available. Why am a I not being offered other loss mitigation options such as a Short sale? Why am I not being offered those remedies only a deed-in-lieu? I do not have enough information to make an important decision. Again I do not believe this letter is in compliance with the guidelines the CFPB has outlined for mortgage servicers. I called my account manager on the morning of XX/XX/XXXX and again on XX/XX/XXXX but I have not received a return. 
As a secondary complaint I was discussing my application with my account manager on  the XX/XX/XXXX call where I expressed a desire to increase my income by establishing an Airbnb accommodation in my home.. The Account Manager said we wouldnt need that information yet but he would contact me if they needed more income or information. That never happened. If he would have informed me as promised in a timely manner I would have stepped up my efforts to not only finish preparing that room but to possibly prepare a second room for the same reason. No contact was made saying I needed to secure more income. I would have gladly made the adjustments to raise the income to comply with any requests the mortgage Servicer would have made. I dont think it is appropriate to lead me on saying I will inform you if we need more information or income and never actually providing that information so I could strengthen my application. 
I believe my Servicer has not met their obligation to service the loan properly and timely. I believe some of the actions have been inappropriate. Also I may be entitled to other considerations since the mortgage in question is a " Pick-A-Pay '' mortgage.

Company response to consumer: Closed with explanation