Consumer complaint received 2020-11-24
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Fay Servicing, LLC (CA)

FAY Servicing took over this loan ( account/loan number XXXX ) from XXXX XXXX just after the COVID related shutdowns and economic impact began. Prior to FAY taking over the loan, I notified XXXX we had a COVID related financial hardship and requested temporary relief on the mortgage payment, which they granted. 

Subsequently, at the end of XXXX we were notified XXXX had sold the mortgage to Fay Servicing, and via letter dated XX/XX/XXXX we were informed FAY Servicing had take over the loan. The interest rate is XXXX XXXX The outstanding principal is about {$450000.00}. The home value is about {$650000.00}. We have lived here over 20 years, and plan to stay here through retirement. 

This complaint is submitted because we have discussed a forbearance or deferment or other repayment plan option with FAY for five  months, since XXXX, XXXX ( while making payments, see below ). I understood the COVID relief, or CARES program was designed to streamline this simple assistance. Again, we are only talking about 60 days, and full payments are being provided monthly. 

We received a letter dated XX/XX/XXXX from FAY Servicing that we have been approved for a XXXXorbearance Plan which would end XX/XX/XXXX. 
We made the XXXX payment on XX/XX/XXXX as usual and no payments were behind at that time. 
The XX/XX/XXXX payment was due at the beginning of the forbearance period. 

On XX/XX/XXXX we made the last regular monthly payment to XXXX XXXX of {$2700.00} On XX/XX/XXXX we paid {$2600.00} for an unexpected hot water heater replacement XXXX an additional hardship ). 
We did not make the XXXX, XXXX or XX/XX/XXXX payments ( the forbearance request was pending ). 
On XX/XX/XXXX we made one regular monthly payment of {$2700.00} ( i.e., assuming it was for XXXX XXXX. 
On XX/XX/XXXX we made one regular monthly payment of {$2700.00} ( i.e., assuming it was for XXXX. 
On XX/XX/XXXX we made one regular monthly payment of {$2700.00} ( i.e., assuming it was for XXXX XXXX. 
On XX/XX/XXXX, we made one regular monthly payment ( i.e., assuming it was for XXXX XXXX. 
On XX/XX/XXXX we provided FAY Servicing the Borrower Assistance form with all attachments they requested. My Social Security verification letter was provided a day or two later. All documents were provided by email and I have copies of all transmissions. 

On XX/XX/XXXX my wife was required to travel to XXXX unexpectedly to see her ailing XXXX XXXX and lXXXX XXXX XXXX XXXX XXXXXXXX XXXX  including advanced XXXX XXXX ( this is the second unexpected hardship in addition to the COVID hardship ). She had to be quarantined in XXXX two  weeks before being able to visit him, then helped her mom move him from the hospital into a hospice nursing home, and she returned home on XX/XX/XXXX. Her father will not leave the hospice and she expects to return to XXXX for funeral services in XXXX or XXXX if not sooner. 

We missed three payments total during the hardship, approved for forbearance. We made one of those missed payments XXXX XXXX XXXX in addition to the regular payments for XXXX, XXXX and XXXX. 

We received an Intent to Foreclose and a Notice of Default ( XX/XX/XXXX ). I called FAY and was told the Borrower Assistance Form I provided XX/XX/XXXX required revision and additional information, which was provided XX/XX/XXXX. I also documented calls and emails. Emails alone are documented on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX ( two emails XXXX, XX/XX/XXXX ( three emails ) and each email followed at least one call. On at least six of those emails, including the first one, all information requested was provided. XXXX XXXX continued to request the same documents and I continued to send them. Now they request current pay stubs, which I'd gladly provided however, instead we are able to and prefer to pay the full four months of payments due. I just don't feel it is my responsibility to also pay the additional fees. 

We called to make an additional full payment several times since early XXXX. I called to make two full payments last week XXXX XX/XX/XXXX ). Today XXXX XX/XX/XXXX ) I called and offered to make four payments XXXX XXXX, XXXX, XXXX and XXXX XXXX. 

At this time, they are requesting {$14000.00} to reinstate the loan. Four monthly payments totals {$11000.00}. XXXX XXXX, the XXXX XXXX of XXXX, a well informed and reasonable person, explains that there are currently no late fees or legal fees. He explains that since the loan just moved to legal, those fees may be nominal. Yet FAY still wants {$14000.00} without an explanation of the use of funds. 

We are merely asking for consideration in the form of " no foreclosure fees, late fees or other fees ' ( they have not been assessed as of this afternoon and to allow us to make the four full payments this week to be fully caught up. 


I have all letters, emails, phone records and copies of the Borrower Assistance Form and attachments submitted ( six times ). I am not attaching them as there would be dozens of attachments. However, I will gladly submit them upon request.