Consumer complaint received 2015-11-19 00:00:00
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account — 
Company: Fay Servicing, LLC
State: VA

Complaint narrative:
I received a letter dated XXXX XXXX, 2015 that my mortgage had been sold to XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX, XXXX, NY XXXX and the new servicer was XXXX, XXXX, XXXX XXXX XXXX XXXX XXXX, XXXX NJ XXXX XXXX. The letter indicates the loan was transferred on XXXX XXXX, 2015 but as of XXXX XXXX, 2015, the transfer of ownership had not been recorded in public records. I called the number, only automated service is available, no option to speak to a live person, and was informed my loan had been transferred to a new service provider, and to address any questions to the new service provider, but did not inform me of the name of the new service provider or the date of the transfer. As of XXXX XXXX, 2015, I have not received any notice from XXXX XXXX XXXX or from XXXX, XXXX that they are no longer the owners/service providers of my mortgage. 

Meanwhile, I have received a letter from an entity " XXXX XXXX '' ( self identified as a debt collector ) submitting a " temporary mortgage statement '' asking me to pay them {$1700.00}. Nothing in the letter indicates my loan has been transferred or sold. I next received a generic note in a hand addressed envelope from XXXX XXXX ( again self-identified as a debt collector ) saying it had recently acquired the servicing of my loan. My name does not appear on the note, no dates are given, and no loan number is identified. 

I called the number on the card and was told my loan was transferred to them on XXXX XXXX, 2015. As of XXXX XXXX, 2015, I have not received any statement from " XXXX XXXX '' or anyone else indicating my loan was no longer at XXXX XXXX XXXX or from XXXX, XXXX. 

According to the FTC website, I am entitled by law to receive within 15 days of any transfer, the following information from the new servicer : 1. the name and address of the new servicer 2. the date the current servicer will stop accepting your mortgage payments 3. the date the new servicer will begin accepting your mortgage payments 4. telephone numbers ( either toll-free or collect ), for the current and new mortgage servicer, for information about the transfer 5. whether you can continue any optional insurance, such as credit life or XXXX insurance ; what action you must take to maintain coverage ; and whether the insurance terms will change 6. a statement that the transfer will not affect any terms or conditions of your mortgage, except those directly related to the servicing of the loan. For example, if your contract says you were allowed to pay property taxes and insurance premiums on your own, the new servicer can not demand that you establish an escrow account. 
7. a statement explaining your rights and what to do if you have a question or complaint about the servicing of your loan. 

I have not received this information and am afraid THIS IS SOME SORT OF SCAM. When I requested the information from the person who answered the phone at " XXXX XXXX '' she told me to contact my previous service provider ( presumably the one with only an automated phone system and no information ) and that any complaint I had was with the previous service provider. 

There is a message on my telephone answering system from " XXXX XXXX '' that states the call is for debt collection. 

I have never missed or been late on a mortgage payment in 20 years. 
In the past 20 years, whenever my mortgage has been sold or transferred, I received timely and complete notices, and automatic payments continued without interruption. The lack of professionalism and failure to provide information in this supposed " transaction '' makes me very suspicious as to the legitimacy of the entities involved. 

I BELIEVE THIS IS A SCAM IN PROGRESS.

Company response to consumer: Closed with explanation