Consumer complaint received 2016-08-11
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure — 
Company: Fay Servicing, LLC (CA)

XXXX XXXX XXXX offered us a trial payment we excepted it an made payments on time for three months, per our agreement. Later we received a letter saying that we have been reassigned to a new services ( Fay Servicing , LLC ) we sent a modification package to them and when ever we call them it is always in review and there is never any new information. Then they cancel the review process and require us to send a new package for yet another review. Then right before the sale date they cancel the review and begin transferring us to yet another services ( XXXX XXXX XXXX ) who will only begin working on our loan on the XXXX XXXX XXXX and the current servicer ( Fay Servicing , LLC ) has no time to accept and begin reviewing a new modification package and the sale date is on XXXX XXXX XXXX. On top of that we never received a notice of Substitution of Trustee, Notice of Default and Notice of Trustee Sale. Why and how is it possible that we are being transferred from one services to another and nobody is able to provide us with a modification and acceptable payment. It feels like they are trying their best to make us loose our home. http : XXXX The California Homeowner Bill of Rights became law on XXXX XXXX, XXXX to ensure fair lending and borrowing practices for California homeowners. 

The laws are designed to guarantee basic fairness and transparency for homeowners in the foreclosure process. Key provisions include : Restriction on dual track foreclosure : Mortgage servicers are restricted from advancing the foreclosure process if the homeowner is working on securing a loan modification. When a homeowner completes an application for a loan modification, the foreclosure process is essentially paused until the complete application has been fully reviewed. 
Guaranteed single point of contact : Homeowners are guaranteed a single point of contact as they navigate the system and try to keep their homes - a person or team at the bank who knows the facts of their case, has their paperwork and can get them a decision about their application for a loan modification. 
Verification of documents : Lenders that record and file multiple unverified documents will be subject to a civil penalty of up to {$7500.00} per loan in an action brought by a civil prosecutor. Lenders who are in violation are also subject to enforcement by licensing agencies, including the Department XXXX XXXX XXXX, the XXXX XXXX XXXX XXXX. 
Enforceability : Borrowers will have authority to seek redress of " material '' violations of the new foreclosure process protections. Injunctive relief will be available prior to a foreclosure sale and recovery of damages will be available following a sale. ( XXXX XXXX, SB XXXX ) Tenant rights : Purchasers of foreclosed homes are required to give tenants at least 90 days before starting eviction proceedings. If the tenant has a fixed-term lease entered into before transfer of title at the foreclosure sale, the owner must honor the lease unless the owner can prove that exceptions intended to prevent fraudulent leases apply. ( XXXX XXXX ) Tools to prosecute mortgage fraud : The statute of limitations to prosecute mortgage-related crimes is extended from one to three years, allowing the XXXX office to investigate and prosecute complex mortgage fraud crimes. In addition, the XXXX office can use a statewide grand jury to investigate and indict the perpetrators of financial crimes involving victims in multiple counties. 
( XXXX XXXX, SB XXXX ) Tools to curb blight : Local governments and receivers have additional tools to fight blight caused by multiple vacant homes in their neighborhoods, from more time to allow homeowners to remedy code violations to a means to compel the owners of foreclosed property to pay for upkeep. 
( XXXX XXXX ) The California Homeowner Bill of Rights marked the third step in XXXX