Mortgage -- Struggling to pay mortgage -- Complaint #9411382
Complaint Overview
Complaint ID: 9411382
Company: Fay Servicing, LLC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Struggling to pay mortgage
Sub-Issue: An existing modification, forbearance plan, short sale, or other loss mitigation relief
State: Florida
ZIP Code: 32909
Date Received: 2024-07-02T12:00:00-05:00
Date Sent to Company: 2024-07-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
To Whom It May Concern, I am writing to request detailed information regarding the transition of my FHA-insured mortgage to a conventional loan. In your recent communication, you attached a document indicating that a loan modification changed the contract in XX/XX/XXXX. However, I have a 1098 Mortgage Interest Statement from XXXX XXXX XXXX dated XXXX that shows no mortgage insurance premiums were collected for FHA, which was 7 years ago. Additionally, I have corroborating mortgage statements indicating that no FHA mortgage premiums were collected. Given this information, it is unclear how a loan modification in XX/XX/XXXX could retroactively change the terms of the loan. As per RESPA regulations, I request you to provide all 1098 Mortgage Interest Statements since the inception of the loan. It is important to note that a loan modification can not change the loan from an FHA to a conventional loan without an actual refinance, which has not occurred. Furthermore, I seek clarification on whether FHA sold the loan. Attached, you will find a statement from XX/XX/XXXX, before the alleged loan modification, which shows no FHA insurance being billed or collected. This contradicts your assertion that the loan modification altered the contract in XX/XX/XXXX. Please clarify if there has been any error or oversight in this matter. It is crucial to determine whether the mortgage insurance premiums owed to HUD have been properly managed. Thank you for your prompt attention to this matter.
Frequently Asked Questions
What is Complaint #9411382 about?
Complaint #9411382 was filed against Fay Servicing, LLC regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2024-07-02T12:00:00-05:00.
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.