Mortgage -- Trouble during payment process -- Complaint #5727923
Complaint Overview
Complaint ID: 5727923
Company: Fay Servicing, LLC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Trouble during payment process
State: California
ZIP Code: 93065
Date Received: 2022-07-01T12:00:00-05:00
Date Sent to Company: 2022-07-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My mortgage was transferred to Fay Servicing in XXXX of this year. Fay servicing then sent me an escrow analysis in XXXX letting me know my payment amount would decrease to XXXX starting with the XXXX payment. I have made XXXX and XXXX payments to Fay servicing. The XXXX statement that I was given dated XX/XX/22 also states my payment for XXXX is XXXX. I log on regularly to check so I know that Less then 2 days before XX/XX/XXXX, Fay Servicing has increased the payment amount due for XXXX to XXXX. An increase of XXXX. They have given no explanation and no notice. They have not provided a payment breakdown or a revised escrow analysis. Based on the escrow analysis and the billing statement provided to me in XXXX I have budgeted accordingly and now I am not able to make the new payment. I am and have been aware of the mistake Fay Servicing made when completing the escrow analysis and the reasons why the payment is increasing. I have logged on almost every day to see when this error would be corrected and when they would notify me of any changes. I would like Fay servicing to explain the mistake that they made in the response to this complaint and why they changed the payment less then two days before it was due without any notice to me. I would also like a solution given I am not able to make the new payment since Fay servicing has failed in every possible way of doing the one job they are there to do.
Frequently Asked Questions
What is Complaint #5727923 about?
Complaint #5727923 was filed against Fay Servicing, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-07-01T12:00:00-05:00.
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.