Consumer complaint received 2024-04-26 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: Fay Servicing, LLC
State: PA

Complaint narrative:
On XX/XX/XXXX, we refinanced for {$45000.00} for a term of 20 years. The total amount of {$45000.00} was transferred from XXXX to XXXX XXXX XXXX in XX/XX/XXXX for this full amount when it should have been satisfied on XX/XX/XXXX. Since XXXX and now, I have dealt with two other the mortgage companies which are XXXX XXXX and currently Fay Servicing. 

In XX/XX/XXXX, I received an Annual Escrow Account Disclosure Statement dated XX/XX/XXXX from Fay Servicing, stating that my mortgage was changing from {$480.00} to {$880.00} beginning XX/XX/XXXX. I called Fay Servicing about the letter, and they explained that my mortgage matured on XX/XX/XXXX, they also stated that I had to pay the remaining balance of approximately {$32000.00}. In XX/XX/XXXX, my automatic monthly payment was not deducted from my bank account, so I mailed in a money order. A week later I received a letter from Fay Servicing along with a personal that belonged to another client by the name of XXXX XXXX. I contacted Fay Servicing to let them know I received someone elses check. A week after that I received a letter with my money order enclosed. I called Fay Servicing, and I was told that my mortgage was going into foreclosure because I did not pay the remaining balance of approximately {$32000.00}. I was also told that the mortgage payments for XXXX and XX/XX/XXXX were put into an expense account. In XX/XX/XXXX, I requested copies of my Disclosure Statement Note and Security Agreement as well as my payment history. They sent me an XXXX to Note for another client by the name of XXXX XXXX XXXX XXXX. I called again and they sent me a Disclosure Statement Note and Security Agreement from a second mortgage I took out on XX/XX/XXXX with XXXX XXXX XXXX and a payment history from when Fay Servicing acquired the loan in XX/XX/XXXX. In XX/XX/XXXX, I applied for a loan modification. I received a letter dated XX/XX/XXXX stating that I was not hardship, you do not qualify for any available loss mitigation options. 

My daughter ordered a copy of our title report, and it showed that the loan was assigned to several mortgage companies after it was to be satisfied on XX/XX/XXXX. Also, XXXX obtained the loan on XX/XX/XXXX and in XXXX the Consumer Financial Protection Bureau ordered them to pay {$28.00} XXXX for giving borrowers the runaround when trying to save their homes. Ironically, none of these mortgagors from XXXX until today has been reported on my credit report. My daughter is handling everything for me and she discovered all of the information about some of the lenders that my loan was assigned. My sister has also been victimized by some of these lenders as well. Me and my husband are elderly and thought we were just paying on our loan and then my daughter discovered all of this when I received the escrow letter from Fay Servicing.

Company response to consumer: Closed with explanation