Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4748393
Complaint Overview
Complaint ID: 4748393
Company: Fay Servicing, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Wisconsin
ZIP Code: 531XX
Date Received: 2021-09-23T12:00:00-05:00
Date Sent to Company: 2021-09-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I've used CFPB before to help clear up other issues that I had before that the banks didn't want to do on their own. The response was always a positive one. So lets see if you can make it 3 for 3 I was hoping you can help clear up an issue with Fay servicing. My loan was sold to them a couple years ago up till now I never had a problem with them. The Issue is they have not filed a release with XXXX XXXX for the property that I paid off in XX/XX/2021. I have made repeated calls requesting this to be done but as of this date no one has responded. I was in the process of refinancing my house to get a lower interest and to pay off high-interest loans. But by not having the release I can not continue with the loan process. The state of Wisconsin has a statute that states that lien holders must file a release within two weeks of being paid off. It's been five months and they've had more than ample time to file the release. Their disregard for Wisconsin law is causing me financial difficulties. I hope CFPB can help Fay services to understand their responsibilities and that thy do not end just because the loan is paid off. They still need to file a release with XXXX XXXX.
Frequently Asked Questions
What is Complaint #4748393 about?
Complaint #4748393 was filed against Fay Servicing, LLC regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-09-23T12:00:00-05:00.
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.