Consumer complaint received 2020-05-04
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem — Problem with personal statement of dispute
Company: Fay Servicing, LLC (CA)

My home loan was purchased by this company from my original lender. The very first payment due to them was XXXX of 2019. They wanted me to auto pay thru them but I prefer controlling that with my bank account. They gave me the address to electronically send my check which turned out to be wrong. I was contacted while on vacation, the money was electronically returned to me. I then paid with the proper address. Then I received a check from my old lender from the refinance. I endorsed the check to Fay servicing and wanted that {$1000.00}, XXXX + to go to the principal on my account. Payments resumed as usual on time every month. On my paper statements, I noticed the payment amount changed every month even though I have a fixed payment. I called to try to understand it every month. You can listen to their recordings, I could never learn why the amount would change, they would just tell me I have a credit. What they didn't say is they never put the extra payments toward my principal, they had it in some slush fund. So basically my payment amount kept changing. Meanwhile the bank that had written the $ XXXX check that I endorsed, told Faye that it was a mistake and requested they return the money. Problem is no one notified me on any of the numerous calls I made. Suddenly my payment has an extra {$1000.00} added to it. End of XXXX I call, once again, to get to the bottom of this. XXXX informs me they are gon na report me 30 days late if I don't pay the extra. I am on my laptop looking at my checking account while I'm on the phone with her. I can see I have made every payment on time. Since she doesnt tell me about the returned check, I assume she is confused as I can see proof in front of me. Like I said I had called practically every month with a different answer every time. So I pay my normal payment. I was also in the middle of a refi, almost complete. They pull my credit for final approval before signing, BOOM 100 points lower and a 30 day late. I call right away, 3 times in same day. 2 told me no reported late, last guy does a detailed examination of me account. Informs me of the slush fund and urges me to fight the 30 day late. Now I open up that investigation. They ultimately decide because she informed me it would be late, they could not change the status. Even though NOBODY knew about the returned check. I appeal, I get a guy named XXXX XXXX. After many weeks he agrees it was not my fault via phone convo. He said he would reverse the credit hit. I stupidly didn't ask for written proof. Kept checking, never took it off. Now I'm in the middle of another refi because the other one wasn't approved after credit hit. I ultimately participate in a 3 way recorded call with my new lender and old lender. Miraculously Faye said I had no late payments! Got the loan. It still bothers me this remains on my credit report, I again reached out to XXXX XXXX at Faye. After much back and forth, they were not taking blame for not telling me about the returned check that started the whole problem and will not be taking the late payment off my credit report. This was XXXX 2019. So as it stands, I'm the only one who wasn't aware of the overpayment but I'm the only one who it affected. Horrible customer service with this company and they have no idea how to explain what I saw on my bills. They also were so archaic my bank had to send a paper check because they were unable to receive it electronically.