Consumer complaint received 2015-11-09
Product: Mortgage — Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure — 
Company: Fay Servicing, LLC (OK)

Fay Servicing Appeals RE : XXXX XXXX XXXX Account Number XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XX/XX/XXXXI am writing to appeal in response to the letter of denial on the loan modification application for account XXXX. I am really at a loss in why this was denied and the overall review process that took place was very confusing and perplexing. I submitted the modification packet to Fay Servicing on XXXX/XXXX/XXXX. They requested additional information numerous times. In particular they requested 'official ' bank statements on three separate occasions, even though I had already faxed/emailed them in three times. I received a certified letter, dated XXXX/XXXX/XXXX, stating that the modification had been denied because I failed to submit a completed initial package in the time frame they requested. I submitted everything they asked for in a timely manner and each time I called in to follow up with the account manager I was told you have sent in everything and that it is in review. I then received a notice dated XXXX/XXXX/XXXX, that they received the documentation and no further documents were needed at this time. Three days later I received a notice of intent to begin foreclosure proceedings. Finally I was told the modification was denied because I had insufficient income to achieve a payment that would qualify for the program. I do n't understand this as no explanation was given. In the same denial letter, they said my current housing expenses is less that equal to XXXX % of my gross income ( meaning that I make too much money?? ) Again I am at a loss. And then finally they said that the number of modifications I have received exceeded the allowable amount. I have only received one modification and that was XX/XX/XXXX, after a period of which I was unemployed. I have been offered a modification by XXXX XXXX and I honored it by making the trial period payments. However they sold the note and transferred the mortgage to XXXX XXXX XXXX XXXX, of which they did not honor the modification, even though I completed the third trial period payment to them. They in turn transferred the note back to XXXX XXXX and again they offered me a modification, but transferred to the note to Fay Servicing before the modification trial period even began. This entire experience has been very very stressful and time consuming. I have attached the initial request for a modification due to a divorce and a XXXX XXXX. I would very much like to maintain the home and raise my XXXX boys in the home. I would very much like to continue making payments and improving my credit rating. I feel as though I have done more than my part in effort to make this home affordable. However I have received nothing but red tape and a history of the loan being transferred four times now since I applied for the initial modification with XXXX XXXX XX/XX/XXXX. I have all documentation to support this appeal and will be happy to supply upon request. 
I further request an appeal of the denied modification as I feel I have sufficient income to support a payment, I have not received a modification that has been honored by the mortgage company 's involved. 
Please advice. 
Thank you,