Consumer complaint received 2020-12-03
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — 
Company: Fay Servicing, LLC (TN)

My home equity loan was sold to FAY SERVICING in mid XXXX. I went to my bank XXXX XXXX and arranged a direct withdrawal as I do with most of my accounts. I also made provision for a principal curtailment of {$590.00} to be applied to the payments. 

About the end of XX/XX/XXXX, I spoke to a financial advisor who advised me to invest in REAL ESTATE. He also advised me to stop the curtailment/ overage amount I paying towards my loan with FAY SERVICING and apply that money in Real Estate investing. I agreed. I decided to originate a loan to further pursue more real estate investing. 

My first stop was XXXX XXXX. I went here to ask them to overage I was paying to Fay Servicing. I thought that because they helped me set up this payment that they were going to help me remove the curtailment/overage. When I went to XXXX XXXX, the Customer Service agent told me that I will have to contact Fay Servicing to do that. I thought she was giving me a wrong information because it was XXXX that helped me set up the account. At some point the agent had to bring her back Bank Manager who had to explain to me that only Fay Servicing could help me with that. I also contacted a loan officer who told me that among other things, he needed my loan statement from Fsy Servicing. 

On XX/XX/XXXX. I contacted FAY SERVICING FOR TWO THINGS 1. To ask them to stop my curtailment/overage amount I had added to my loan. 
2. To ask for a copy of my most recent account statement. 
I spoke to Mr. XXXX XXXX who agreed to help me with both issues. He later sent the statement but in the month of XXXX, the overage amount didn't change. ( exhibit 1, enclosed ) I called again in XXXX and spoke to another agent about removing the curtailment/overage amount. The customer service rep apologized when I informed her of my previous experience and promised that I will definitely see the correction in XXXX. I called several times in XXXX and spoke to different agents who assured me that the problem has been taken care of.. 

After all my attempts, I was shocked when my statement came for XXXX with no change. I made several calls again to Fay Servicing but now I am quite sure nothing was going to happen. I contacted XXXX XXXX to see what I could do. The customer service advised me to file a claim for the overage. 

In XXXX I filed a claim for the overage of {$590.00}. for both XXXX and XXXX. I filed for these two months because after ALL THE EFFORT I PUT IN MAKING SEVERAL CALLS TO FAY SERVICING IN XXXX, I COULD NOT EXCUSE THEIR LAXITY. 

Unfortunately the XXXX XXXX agent instead of filing the claim for the amount I requested {$590.00}, she filed the claim for the entire amount of {$2000.00}. As soon as I realized this error. I contacted XXXX and this error was corrected. 

However, by the first week of XXXX, Fay Servicing flooded my address with about nine ( 9 ) letters of NOTICE OFDEFAULT AND INTENT TO ACCELERATE. ( Exhibit 2 ) I responded to all nine notices with certified mail receipts informing them that it was their fault. I was SHOCKED AT HOW QUICK FAY SERVICING CAN ACT WHEN THEY THEY WANT TO BUILD A CASE AGAINST THE CONSUMER. In my response ( attached as Exhibit 3 ) I explained to them how their agents laxity and lack of professionalism caused the problem. 
Fay Servicing agents later called me and said that they had corrected the error and that my account is now in good standing. I called severally and verified that and they said all is good. My next statement came and showed the correct amount. I thought this is now behind me. 

Then yesterday XX/XX/XXXX, I got a letter from Fsy Servicing where among other things, the agency is claiming that. 
1. The first time I called them to discuss removal of the additional principal curtailment was on XX/XX/XXXX. I informed them that this was a gross misrepresentation. My ( exhibit 1 ) bears witness to this fact.

2. That their history shows two NSFs were received on my account resulting in BAD CHECKS FEES BEING APPLIED TO MY LOAN. THAT THIS REFLECTS TWO LATE PAYMENTS WITHIN THR PAYMENT HISTORT. THEY WENT FURTHER TO SAY THAT FAY HAS REPORTED THIS LOAN AS CURRENT THEREFORE MY CREDIT REPORT HAS NOT BEEN IMPACTED. ( Exhibit 4 ) 3. They changed my payment amount. Charged me for NSF and BAD CHECKS and added extra taxes. My payment amount from XXXX moving forward changed. 

* THIS IS ROBBERY WITH PEN AS FAR AS I AM CONCERNED. IN THE LEAST, THIS IS FRAUDULENT. THIS IS WHY I HAVE DECIDED TO HAVE A NEUTRAL BODY INVESTIGATE THIS. 

I again responded with certified mails and pointed out that. 
1. I again narrated my ordeal with FAY SERVICING. I asked them to check their records and correct their gross misrepresentations. ( copy of my response is Exhibit 5 ) 2. I asked them to remove their NSFs and BAD CHECKS reports on my account Note* Fay Servicing is abusing their authority because they feel they can. I can not imagine how they have been malhandling people who can not express themselves. 
Any descent agency who sees how much I have tried will understand it is their fault and resolve this problem but Fay Servicing has continued to push the buttons. 

I also notice they that they get a kick out of destroying the lives of the consumers. Fay Servicing is one of the companies consumers refer to as BULLY COMPANIES. 

They feel so big and so untouchable that they don't even care what message they are se

nding across to their customers. Notice in the page 2 of Exhibit 4. Fay Servicing writes. " if you have any questions or concerns, please contact the Account Manager, XXXX XXXX, at ( XXXX ) XXXX XXXX. '' I have called this number more than 20 times without any response. I left messages but no body has called me back. Each time I call the voice message says that XXXX is out of her seat or with another customer but will return my call. 
Since yesterday no one has returned my call. Today XX/XX/XXXX, I made few more calls to that number but no luck. I believe this phone is just a front. 

Also, yesterday, I called their customer service line at XXXX XXXX XXXX. I got Ms. XXXX XXXX on the line. I explained my ordeal to her and she said she will speak to the Assistant President of the company and call me back. This is the second day, I am still waiting for that call. When I thought about the idea of a Customer Service agent having that casual access to the Vice President of a company, I realized she just wanted to just get me off the phone.. 
This company need to be investigated for FRAUDULENT Business practice.