Mortgage -- Trouble during payment process -- Complaint #7049221
Complaint Overview
Complaint ID: 7049221
Company: Fay Servicing, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Florida
ZIP Code: 33615
Date Received: 2023-05-30T12:00:00-05:00
Date Sent to Company: 2023-05-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Fay Servicing received an insurance renewal from my insurance company XXXX XXXX XXXX ) and never paid the renewal premium. My insurance lapsed and I was charged a {$1200.00} " escrow advance '' fee for temporary homeowners insurance that I should never of had to pay if Fay would have paid my renewal premium. On my insurance company 's website portal ( XXXX ), they show that a renewal notice was sent out to Fay servicing to pay prior to the expiration date. When I contacted Fay Servicing at the beginning of XXXX about this issue, they said that they would look into it and that they " upgraded their computer systems and had glitches ''. They told me that there may be no refund for the interim insurance. Nobody from Fay has ever gotten back to me regarding this yet and I've called several times to clear this up. Their phone systems are convoluted and confusing, and their associates are less than helpful and never follow up. I believe this is a scam that Fay is doing in order to get their " Escrow Advance '' payments. As in, they're letting some of these insurance premiums lapse by not paying them and then the consumer has to pay for inflated interim insurance, they received two notices of payment and still didn't pay ... for me it was {$1200.00} for 3 months of insurance until I was able to get everything squared away. What makes things worse is it's very difficult to get off of their escrow services because now my account is in the negative and they want me to pay to get it back to zero, even though it should actually be positive. Somebody please help me, I feel that I'm being scammed here. I should be owed a refund of {$1200.00} because Fay forgot to pay my insurance company and I should be able to get off of escrow. Thank you.
Frequently Asked Questions
What is Complaint #7049221 about?
Complaint #7049221 was filed against Fay Servicing, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-05-30T12:00:00-05:00.
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.