Consumer complaint received 2015-07-23
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: Fay Servicing, LLC (CA)

File was service transferred from XXXX XXXX XXXX to FAY Servicing during a review for loan modification and I was told by XXXX that they would transfer the complete file over to the new servcer to complete the review. During this time there was an active foreclosure sale date that was postponed from XXXX/XXXX/15 to XXXX/XXXX/15. I diligently called FAY Servicing from the XXXX of XXXX and faxed them the XXXX party Authorization on XXXX/XXXX/15. But when I spoke to them on XXXX they said it would take a week to XXXX weeks to upload the package. I told them I would fax the docs to them just in case. Basically, FAY Servicing did not give enough time for them to properly review the file to give it a proper decision no matter what the outcome. This is the email sent to the Site Manager in regards to my complaint. 
XXXX XXXXSite Manager - Fay ServicingXXXXXXXXXXXXRe : XXXX, XXXXThank you for returning my call in regards to the above reference file and the complaint I emailed in this morning regarding the loan modification review and the foreclosure. Just a recap on our conversation you will1. Verify if the docs that I sent in were confirmed received as I have a fax confirmation [ XXXX Pages ] and an email confirmation [ XXXX Pages ] of the docs being sent to your office and received with no errors on XXXX/XXXX/15 and XXXX/XXXX/15. 
2. Review file for completeness3. You also stated even though Fay Servicing would have reviewed the financials, based on the income submitted the client would not have qualified and would have been declined. 
4. You also stated that XXXX sent the file coded [ not in an in-flight review ] meaning that file was not complete. The file was submitted and on XXXX/XXXX/15 XXXX informed us that there was additional docs that they needed and that was sent over the same day we have fax confirmation of this. At that time they said the loan would be service transferred to Fay Servicing and they would forward the full file and the additional docs to them to review. That apparently did not happen as instructed. 
5. Informed you that my conversation with XXXX [ XXXX ID # XXXX ] confirmed postponement request is in and being reviewed and that all additional docs were received and would be forward to the new servicer. On XXXX/XXXX/15 I was given confirmation by the trustee that the foreclosure was postponed until XXXX/XXXX/15 while the file is in the middle of service transfer. 
6. After he reviews this file he will contact myself on Monday with his response. 

My intention is for Fay Servicing to give the client the opportunity to be reviewed for a loan modification and have a decision either an approval or a decline. During this period the foreclosure should be on hold to allows this process so there is no Dual Tracking as defined in the California XXXX. The servicer must deny the loan application and wait for the XXXX-day appeal period to expire before moving forward with foreclosure. We want the full loan modification process and decision on that application to allow our client the right to chose what their next decision will be such as Short Sale, Foreclosure, Deed in Lieu or full Chapter XXXX Bankruptcy to protect their home and their investment in the home. My hope is that we can resolve this issue and get back on track to avoid further legal action. Again thank you for your time, look forward to speaking on MondayPlease HELP, Fay Servicing did not allow the recording of the Deed of Trust and is looking into this matter before they make a decision but I want your office to get involved to give this client the opportunity to be reviewed for a loan modification properly. It just seems that they wanted to foreclose on this home no matter what and they did.