Mortgage -- Struggling to pay mortgage -- Complaint #4379407
Complaint Overview
Complaint ID: 4379407
Company: Fay Servicing, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Struggling to pay mortgage
State: North Carolina
ZIP Code: 27526
Date Received: 2021-05-15T12:00:00-05:00
Date Sent to Company: 2021-05-15T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I fell behind on my mortgage because of this covid global pandemic in XXXX of XXXX. I have applied for assistance twice and am not getting the proper answers to my questions from my mortgage company. The reasons per Fay as to why I don't qualify are as follows : 1. REPAY PLAN - INCOME IS INSUFFICIENT 2. DEFERMENT - INVESTOR DOES NOT PARTICIPATE IN THE PROGRAM ( XXXX XXXX ) 3. MODIFICATION - BASED ON INCOME, INCOME IS NOT SUFFICIENT, DEFICIT Problem # 1 - XXXX XXXX 's website clearly states that they offer deferments after a forbearance for their borrowers. Why am I not a candidate if XXXX XXXX has hired Fay to service my loan and XXXX XXXX is offering it to loans that they service? This question could not be answered by Fay Problem # 2 - I have a surplus income after my mortgage and bills are paid, THANK XXXX, not a deficit. My three month average for self employment income from XXXX was gross {$3500.00} and net was {$3000.00} but today I was told that the underwriter 's final net income was calculated at {$2200.00}, that is a difference of {$760.00}. When I asked why 25 % of my take home income was deducted by their office, the answer was " I don't know that's what the letter shows '', when I asked who I can speak with to get clarity as to why that much is taken out of my pay, the answer was " No one, we treat every homeowner the same ''. That is the strangest response and for me being a XXXX and minority in this county, I now am positive that I am being discriminated against. Really, you take off 25 % of everyones self employment income which then causes them not to be qualified for help? XXXX XXXX self employment tax is only 15.3 % so where is the 9.7 % difference that Fay 's underwriter is taking from my pay, coming from?
Frequently Asked Questions
What is Complaint #4379407 about?
Complaint #4379407 was filed against Fay Servicing, LLC regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2021-05-15T12:00:00-05:00.
How did Fay Servicing, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Fay Servicing, LLC?
Yes, visit the Fay Servicing, LLC company profile at readthecomplaint.com/company/fay-servicing-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.