Consumer complaint received 2026-03-04 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage — Trying to communicate with the company to fix an issue with the application process
Company: Fay Servicing, LLC
State: MD

Complaint narrative:
Plaintiffs purchased the above mentioned subject real properties using funds from XXXX XXXX XXXX XXXX as the XXXX. XXXX Exhibits XXXX & XXXX. After a year or more of making on-time monthly mortgage and escrow payments, Plaintiffs sought to timely Refinance the current loan and payoff all debts owed to the XXXX in full around XX/XX/XXXX. With all of his mortgage and escrow accounts current and no late payments, beginning in XX/XX/XXXX, XXXX XXXX XXXX began communicating with several of the XXXX XXXX about refinancing the current loan. In particular, Plaintiffs began communicating directly with XXXX of the Defendants XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, on multiple occasions and even provided him proof of financing for the refinance of my current loan with XXXX XXXX XXXX. See Exhibit XXXX XXXX XXXX XXXX informed me that they couldnt close on the Refinance of the loan because they couldnt get a XXXX XXXX for the property to finalize underwriting and financing. No explanation was given by the XXXX as to why a XXXX XXXX / XXXX XXXX could not be furnished. See Exhibit XXXX Operating in good faith, continuing between XX/XX/XXXX XX/XX/XXXX, the XXXX would again continue to communicate with the XXXX XXXX from Fay Servicing , LLC, about why a XXXX XXXX XXXX XXXX XXXX could not be furnished in order for a new loan to close, and any loan mediation and/or modification options. I was often told that the issue would be researched and that an XXXX XXXX will be contacting me directly about the issue. Unfortunately, I never got an explanation nor solution back from the XXXX, and my mortgage loan began spiral downwards in late payments as the XXXX continued to focus their efforts on refinancing the loan. XXXX engaged with mortgage lenders XXXX XXXX and XXXX XXXX of XXXX XXXX XXXX, XXXX in XX/XX/XXXX. After XXXX ) paying for application fees ; XXXX ) Pre-Qualifying for the loan ; XXXX ) paying over {$700.00} for each appraisal in order to have a property appraisal done on both properties ; XXXX ) traveling from XXXX, Maryland down to XXXX, GA just to meet the multiple appraisers and show them the properties ; and XXXX ) going back and forth with underwriting, XXXX XXXX XXXX, XXXX, also unfortunately advised me that they too was unable to obtain a XXXX XXXX XXXX XXXX XXXX in order to CLOSE on the Refinancing of the Loan. See Exhibit XXXX XXXX, XXXX XXXX of XXXX XXXX XXXX figured out why?!?! The issue was simply the way in which XXXX XXXX, XXXX had recorded the Deed and/or Note for the loan as the entire estimated {$700000.00} that was borrowed was encumbered across BOTH properties instead of having the value of the borrowed mortgage note evenly split between both XXXX XXXX XXXX XXXX XXXX XXXX, GA XXXX ( Parcel ID No. XXXX XXXX ) and XXXX XXXX XXXX XXXX, XXXX, GA XXXX ( Parcel ID No. XXXX XXXX ). Therefore, unfortunately the total encumbrances and recorded mortgage loan totaling XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX DOLLARS ( {>= $1,000,000} ), which was NOT the agreed upon loan amount as recorded by the loan documents. See Exhibits XXXX & XXXX. Understanding the error made in the initial recordation of the Deed and Note for both properties, in good faith, XXXX XXXX would again immediately communicate this error to the XXXX and their XXXX and immediately requested that the error be corrected. Between XX/XX/XXXX XX/XX/XXXX, the XXXX along with XXXX XXXX XXXX of XXXX XXXX XXXX sent more than XXXX emails to the XXXX and their XXXX specifically referencing the XXXX XXXX to the deed recording issues at hand and how the issue of obtaining a clear title can be timely fixed and/or corrected pursuant to Page XXXX, Section XXXX, " Parcel Release of Collateral '' clause of the executed loan documents. XXXX XXXX even offered and agreed to pay for any and all legal fees that would be required in order for the XXXX XXXX to correct the issue such that he can refinance the loan. See Exhibit XXXX For example, on XX/XX/XXXX, pursuant to Page XXXX, Section XXXX, " Parcel Release of Collateral '' clause of the attached loan document, the XXXX formally requested a " PARTIAL RELEASE OF COLLATERAL '' for the property located at XXXX XXXX XXXX XXXX, XXXX, GA XXXX, for the total {$320000.00} Partial Release Price + Back Payments Owed, as applicable, which wouldve brought the entire loan amount and any rears, fees, penalties, and/or interest up to date by financing this property alone. Therefore, on XX/XX/XXXX, the XXXX requested a " PAYOFF QUOTE '' for the property located at XXXX XXXX XXXX XXXX, XXXX, GA XXXX, for the total {$320000.00} Partial Release Price emailed to them immediately. The Defendants failed to operate in good faith and failed to exercise the duty of care and neither exercised any spirit of fair dealing required in order for the XXXX to finalize refinancing the XXXX XXXX. The XXXX knowingly operated in Bad Faith to maliciously violate both the Uniform Deceptive Trade Practices Act ( OCGA 10-1-393, et seq. ) and the Fair Business Practices Act ( OCGA 10-1-370, et seq ). OCGA 10-1-393, et seq. ; OCGA 10-1-370, et seq. See Exhibit E. Additionally, pursuant to Page 7, Section 2.10, " Parcel Release of Collateral '' clause of the attached loan document the Plaintiffs formally requested a " PARTIAL RELEASE OF COLLATERAL '' for the property located at XXXX XXXX XXXX XXXX, XXXX , GA XXXX, for the total {$520000.00} Partial Release Price + Back Payments Owed, as applicable, which again wouldve brought the entire loan amount and any rears, fees, penalties, and/or interest up to date by financing this property alone. Therefore, on XX/XX/XXXX, the Plaintiffs again requested a " PAYOFF QUOTE '' for the property located at XXXX XXXX XXXX XXXX, XXXX, GA XXXX, for the total {$520000.00} XXXX XXXX XXXX emailed to them immediately. Again, the XXXX failed to operate in good faith and failed to exercise the duty of care and neither exercised any spirit of fair dealing required in order for the XXXX to finalize refinancing the XXXX XXXX. The XXXX knowingly operated in Bad Faith to maliciously violate both the Uniform Deceptive Trade Practices Act ( OCGA 10-1-393, et seq. ) and the Fair Business Practices Act ( OCGA 10-1-370, et seq ). OCGA 10-1-393, et seq. ; OCGA 10-1-370, et seq. See Exhibit E. On XX/XX/XXXX, at XXXX XXXX, XXXX XXXX expanded his demands for a corrected Deed and Note and again requested a " PAYOFF QUOTE '' for the XXXX XXXX from the Defendants, but this time included the XXXX XXXX XXXX XXXX XXXX, the XXXX XXXX XXXX XXXX XXXX, and XXXX XXXX XXXX investors directly. Plaintiffs received NO RESPONSE from any of the XXXX on XX/XX/XXXX. Exhibit XXXX, XXXX XXXX. On XX/XX/XXXX, at XXXX XXXX, XXXX agent XXXX XXXX XXXX finally responded to XXXX XXXX request for a corrected Deed and Note and again demanded a " PAYOFF QUOTE '' for the XXXX XXXX from the Defendants, and responded At this time, the lender will not complete a partial payoff on the requested addresses. As you have been advised before, the loan must be brought current before any further requests are made. Exhibit XXXX, Page XXXX. However, on XX/XX/XXXX, at XXXX XXXX, the XXXX responded and explained they are NOT trying to partially pay off the current loan, they and their lenders are trying to pay off and refinance the loan IN FULL. XXXX XXXX responded to this misunderstanding in detail. Exhibit XXXX, XXXX XXXX - XXXX. On XX/XX/XXXX, at XXXX XXXX, XXXX XXXX XXXX XXXX XXXX finally responded to XXXX XXXX request asking that he provide documentation that this refinance ( s ) is or are approved, but this time he included the XXXX XXXX XXXX XXXX XXXX, the XXXX XXXX XXXX XXXX XXXX, and XXXX XXXX XXXX investors directly. Exhibit XXXX, Pages XXXX - XXXX. On XX/XX/XXXX, at XXXX XXXX, XXXX XXXX XXXX of XXXX XXXX XXXX XXXX XXXX, directly informed the XXXX and their agents and confirmed that XXXX XXXX XXXX XXXX, was working to close the refinance loan in order to pay XXXX XXXX XXXX off in full. The XXXX new lender XXXX XXXX XXXX XXXX XXXX, received NO RESPONSE from any of the Defendants on XX/XX/XXXX, neither. Exhibit XXXX, XXXX XXXX. On XX/XX/XXXX, at XXXX XXXX, XXXX XXXX provided copies of his signed initial loan disclosures as proof of his APPROVED financing in order to refinance the current loan from XXXX XXXX XXXX, XXXX. XXXX received NO FURTHER RESPONSE from any of the XXXX on XX/XX/XXXX. Exhibit XXXX, XXXX XXXX. See also Exhibit XXXX On XX/XX/XXXX, XXXX XXXX again followed up with the Defendants agents about the status of his requested " PAYOFF QUOTE '' for the XXXX XXXX from the XXXX. XXXX XXXX XXXX simply responded The XXXX has not responded to the request as of yet. Please continue to follow up. Exhibit XXXX, Pages XXXX. On XX/XX/XXXX, XXXX XXXX again followed up with the Defendants agents about the status of his requested a " PAYOFF QUOTE '' for the XXXX XXXX from the XXXX. XXXX received NO RESPONSE from any of the XXXX on XX/XX/XXXX. XXXXt XXXX, XXXX XXXX. On XX/XX/XXXX, XXXX XXXX XXXX of XXXX XXXX XXXX, XXXX again followed up with the XXXX agents about the status of the XXXX requested " PAYOFF QUOTE '' for the XXXX XXXX from the XXXX and requested additional information in order to support the closing of the loan. XXXX XXXX XXXX, XXXX, didnt receive ANY RESPONSE from any of the XXXX in response to their direct inquiry on XX/XX/XXXX. Exhibit XXXX, XXXX XXXX. A full XXXX weeks ( XXXX days ) passed by, and despite the XXXX repeated calls and emails, the XXXX willingly refused to provided the requested " PAYOFF QUOTE '' for the XXXX XXXX in full compliance with Page XXXX, Section XXXX, " Parcel Release of Collateral '' clause of the mortgage loan and/or note, clearly exhibiting the Defendants wonton and overt negligence, greed, and sheer desire to XXXX XXXX on the XXXX property instead of providing his lender with the property documentation thats needed for them to refinance the XXXX out of the current loan. Around XX/XX/XXXX, XXXX learned that their property was being prepared for foreclosure and was to be sold on the XX/XX/XXXX, date when he began to receive phone calls from other third parties, outside investors, etc., offering to purchase his properties in order to execute a Sale In-Lieu of Foreclosure. Neither of the XXXX have ever received any of the proper foreclosure notifications from the XXXX as required by Georgia law. On XX/XX/XXXX, XXXX XXXX, called Fay Serving, LLC and was assigned XXXX XXXX XXXX as his new XXXX XXXX XXXX ( XXXX ) representing the XXXX in all facets, and XXXX XXXX began sharing all of his previous interactions with the XXXX and their representatives with XXXX XXXX. See Exhibit XXXX Page XXXX. After literally conversing and emailing back and forth over a XXXX day span, on XX/XX/XXXX, XXXX XXXX was informed by XXXX XXXX that the XXXX have provided a Loan Reinstatement quote amount of {$94000.00}, and agreed to offer me to pay the lesser amount of {$58000.00}, and that the XXXX XXXX XXXX will also provide me with the requested PARCEL RELEASES pursuant to Page XXXX, Section XXXX, " Parcel Release of Collateral '' clause of the loan documents. XXXX XXXX willingly accepted the offered loan modification and began putting everything in place to close on the financing anticipating to receive the requested PARCEL RELEASES such that XXXX XXXX XXXX, XXXX can get a clear and clean title in order to close the REFINANCING of the loan and pay the XXXX off. See Exhibit XXXX As of to date, XX/XX/XXXX, pursuant to Page XXXX, Section XXXX, " Parcel Release of Collateral '' clause of the attached loan document, the XXXX still have not yet sent the XXXX the formally requested " PARTIAL RELEASE OF COLLATERAL '' for the property located at XXXX XXXX XXXX XXXX XXXX XXXX XXXX GA XXXX, for the total {$320000.00} Partial Release Price + Back Payments Owed, as applicable, and neither have the Defendants sent XXXX XXXX the formally requested a " PARTIAL RELEASE OF COLLATERAL '' for the property located at XXXX East XXXX XXXX, XXXX XXXX GA XXXX, for the total {$520000.00} Partial Release Price + Back Payments Owed, as applicable, which again wouldve brought the entire loan amount and any rears, fees, penalties, and/or interest up to date by financing this properties individually. All of the individual and collective actions of the XXXX and their XXXX XXXX, XXXX XXXX are consistent with the unlawful tort of Foreclosure XXXX under XXXX XXXX. The Defendants are clearly collectively scheming, aiding, and abetting each other to knowingly defraud the XXXX out of their real properties in violation of House Bill 237, and knowingly using the XXXX alleged missed payments and the foreclosure statutes and processes as a clear misrepresentation of the material facts of his case in violation of Georgia law. XXXX XXXX ; XXXX XXXX, et seq. ; XXXX XXXX, et seq. See Exhibit XXXX.

Company response to consumer: Closed with explanation