Tuesday, January 11, 2022




A review of a large number of the consumer complaints filed publicly against the mortgage servicing company FAY SERVICING LLC, with the Better Business Bureau (bbb.org) has revealed the full extent of the alleged misconduct homeowners are asserting that the company has committed against them ( N.B. $1.15m in Restitution and Disgorgement). Here is but a small sampling of what we found: 

1. Fay raised the payment amount on a handicapped homeowner's mortgage without notifying him of any legal reason for the increase.

2. Fay annually erroneously and incorrectly threatened a homeowner for not carrying hazard insurance, and improperly added fees to his mortgage, when he had insurance, and Fay had a record of his coverage.

3. Inflating payoff figures with additional penalties and interest fluctuations that show unfair business practices.

4. Fay refused to accept mortgage payments, and then charged foreclosure fees for a mortgage that was not in default.

5. Fay does not report on time payments on mortgages to credit reporting agencies; they only report it if the account is delinquent.

6. Fay is holding insurance funds in a loss draft account that are needed to make fire damage repairs. This denies the homeowner the right to repair or retain his home, whole actively seeking foreclosure.

7. Fay signed up a homeowner for deferred payments, without his knowledge or consent, resulting a  drop in his credit score.

8. Fay refused to assist homeowner complete a Short Sale.

There are many, many more. Feel free to access the BBB site to see the double-talk Fay responses; in many cases, they blame the homeowner for their lack of communication, or deny the truth of the situation. Why is this company not yet shut down by regulators ? It has permanently given Wells Fargo, who assigned servicing on many of its loans to Fay, a black eye with consumers.


NOTE: readers who are not familiar with Fay Servicing may want to review at least some of our 12 prior articles on the subject:

1. Has the California Department of Justice targeted Fay Servicing ?

2. Victims Allege that Fay Servicing Attorneys made Material Misstatements of Fact in Foreclosure Proceedings  

3. Making America Homeless Again 


RESEARCH NOTE: Using the white search engine feature to access the other cases, enter "Fay." 



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