Consumer complaint received 2025-06-01 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Interest rate
Company: Fay Servicing, LLC
State: NV

Complaint narrative:
new discrepancy were discovered when reviewing there response to last and noted below, I have sent the following with attachments XXXX XXXX XXXX Interest Rate Discrepancies and unexplained Changes In your recent response, you claimed that my interest rate was adjusted from XXXX XXXX XXXX XXXX XXXX on XX/XX/XXXX. However, my own records, including screenshots ( see XXXX ( XXXX ) a, b, c, d ) indicate the interest rate on XX/XX/XXXX @ XXXX AM was XXXX XXXX and that the interest rate was also changed in XX/XX/XXXX. 
Additional evidence : ENCL ( XXXX ) : XXXX payment breakdown showed Principal of {$1000.00} with Interest : {$210.00} / XX/XX/XXXX payment showed Principal of {$1000.00} with Interest : {$200.00} These figures align with a significantly lower interest rate, not 8.00 % ENCL ( XXXX ) : XXXX XXXX rate chart showing no changes in XX/XX/XXXX or XX/XX/XXXX let alone XX/XX/XXXX. 
XXXX Lack of Timely Statement and Communication I never received statements for XXXX or XX/XX/XXXX, ( Found XXXX Hidden in Other Documents in Online Portal Later ), and was confused by the online portal showing {$0.00} due in XXXX days. When I contacted your office in XX/XX/XXXX, I was informed the account was under audit and suspended informed of payment amount. I submitted the next payment on time based on that phone conversation ( see XXXX ( XXXX ) a, b, c, d ). 
Your automated system to this date still incorrectly states the last payment was on XX/XX/XXXX for {$1900.00}, despite subsequent on-time payments to date. 


XXXX XXXX Payment Errors & inaccurate placements of payments. 
In the original complaint was for XXXX payment being lost. You stated in your response that that you fixed XXXX payment problem and then stated that you fixed XXXX payment problems. XXXX payment problem ENCL ( XXXX ) a, b, c as I used the online portal due to the fact I was out of country from XX/XX/XXXX to XX/XX/XXXX stated on my passport with XXXX phone service. 
Your claim that I confirmed a correction via phone on XX/XX/XXXX, is false, as I had no phone service during that time. ( passport stamps ) ( ENCL ) ( XXXX ) c. 
Still to this date I have trouble getting the payment to be applied properly? 

XXXX. Agreement with XXXX XXXX and Improper Interest Rate Increases On XX/XX/XXXX, my loan was reinstated under a verbal agreement for fixed XXXX XXXX interest rate and payment of {$26000.00} with monthly payments of {$1200.00} with XXXX XXXX from that point until the loan was transferred to Fay Servicing I made all payments as agreed. ( {$1200.00} ) Received consistent statement confirming the 2.5 % rate. 
Received a credit adjustment of {$210.00} after an audit on XXXX XXXX. 
When XXXX acquired the loan and unilaterally changed the interest rate in XXXX, XXXX. XXXX months later, you requested proof of the XXXX XXXX  Fixed rate, which appears to have been found in XX/XX/XXXX ( see XXXX ( XXXX ) a-f ), but never disclosed to me? 

XXXX. Errors in Application of Funds and Balance Adjustments Statements for XXXX and XX/XX/XXXX show only a {$630.00} difference in balance, yet your correction spreadsheet indicates an interest charge of {$1100.00} in XX/XX/XXXX, which would be inaccurate if the rate had truly adjusted rate in XX/XX/XXXX. 

This suggests : -Improper reversal or misapplication of funds -Lack of monthly recalculation following an alleged interest rate change -Accounting oversight requiring immediate audit ( see ENCL ( 7 ) a, b )

Company response to consumer: Closed with explanation