Consumer complaint received 2023-02-10
Company: Fay Servicing, LLC
State: CT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Fay Servicing has forced me into foreclosure and have engaged in unethical servicing practices, putting their greed and profits over rules and laws and I have direct evidence of this. I was a XXXX XXXX XXXX who was impacted by Covid and once I got into a stronger financial position began making weekly payments of {$2000.00} to get caught up on the missed payments with the previous servicer XXXX, paying them {$10000.00} in one month. However, when Fay took over they accepted one payment from me, then decided to pre-pay my taxes and then refuse to accept my regular mortgage payments. Fay Servicing kept me in the dark regarding critical information about the process of applying for foreclosure relief and they illegally moved forward with the foreclosure process while I was actively seeking help to save my home. I was given constant runaround and felt that they were intentionally moving the goalposts so that I could never get reviewed. I called and spoke to representative XXXX XXXX multiple times and he would never give any answers on the status of my account then I was told the review was closed out. This is not about me needing or trying to get a modification, this is about a severe dereliction of the basic fundamentals of servicing as I was within weeks of paying off the arrearages when Fay blocked the process. This was made clear to me recently during a zoom meeting with state of Connecticut mediator and Fay and their Attorney. They believed the line was muted, and I heard them discuss that it would be more profitable to foreclose on me and sell my house so they should not offer any help. 

I ran into financial difficulties during Covid 19 and was struggling with my mortgage payment. My servicer at the time was XXXX and they worked with me and allowed me to hold off on payments as my hours were cut at the XXXX XXXX. A few months later I was able to find a XXXX XXXX position and I went to XXXX XXXX XXXX  to serve on the front lines. It was a horrifying experience, the things that I saw are much worse than you could imagine with the disease and death ravaging patients all around me. This job paid me well and I wanted to get caught up on my mortgage so instead of just making my regular monthly payment of {$2000.00} I began sending XXXX {$2000.00} weekly. I sent {$2000.00} on XX/XX/2021, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/2021. {$10000.00} in one month. At that time I was notified that the servicing was transferring to Fay Servicing and I needed to wait for my loan to be set up in the Fay system. I was close to getting caught up on the loan and paying off all of the delinquent amounts. When I tried to make a payment to Fay they told me they would only accept the regular mortgage payment of {$1900.00} which I paid on XX/XX/2021. When I tried to make my regular mortgage payment the following month I was told that Fay would not accept my payment because they decided to pre-pay one year of property taxes ( not monthly or quarterly ) and added that to the balance that was still owed and told me that they would only accept the full amount due in a lump sum payment. I was not able to come up with all of that money and Fay added thousands in interest and junk fees. 

I was told that I needed to apply for a loan modification and began sending in all of the paperwork and as explained got the constant runaround from XXXX XXXX and was given no information or conflicting information about what documents were needed. Ultimately I was told I never got reviewed because I did not send the documents in time and Fay Servicing put me into foreclosure. I was doing my part as an essential front line worker, travelling to the most dangerous and deadly area to provide help to XXXX patients and this is how Fay Servicing treats me??? Next thing I know I am in foreclosure so I filed for mediation through the state. Based on what I overheard on the XXXX  call, I am worried that Fay and their law firm are going to obstruct all options for resolution

Company response to consumer: Closed with explanation