Fay Servicing, LLC Mortgage Complaint

Fay Servicing, LLC Mortgage department,

FHA mortgage Loan servicing, payments, escrow account Mississippi

-/-/-, my wife and I purchased a home in -, - with a FHA Loan in the amount of $270000.00. The house had been on the market for 30 days. The loan was financed through - -, which was later sold to - -, - -, and - other companies, one being Fay Servicing which is located in -, -. Each time our mortgage was sold it became difficult to determine the escrow amount as well as the amount owed on the loan. The mortgage slowly rose from $1700.00 to $2100.00 within seven years. My Account Manager at that time was - - - ( - ) of Faye -. We had an arrangement where I would call him on the last working day of each month and make my payment via telephone. He informed me that my new Account Manager was - - - ( - ) and I could continue to contact him and schedule my payments. He said this kind of thing happened all the time. I agreed to continue to make payments until -/-/- when I received a letter from my new lender ( -, -, as trustee for - - - ) indicating that they


speak to her ( please refer to the email correspondence section for documentation ). When I finally made contact, I was later informed by - - that my mortgage payments were late even though I was paying them as scheduled on the last working day of each month. She then informed me that she could not take any more payments from me until I cleared up any delinquent balances. - - suggested that I complete a - - - with -. She also mentioned that my payments would be roughly between $2.00, - and $2400.00 and she would need approval from her supervisor. I had to submit budget expenses for my wife and I along with bank statements and payroll documentation. When I talked to her about our budget expenses, she indicated to me that I would " just have to make minimum payments on some of our accounts '' in order to get approval. I told her that I could not afford a payment of $2.00 because I will began making student loan payment in the amount of $1100.00. Needless to say, everything change when I finally received the Loan Reinstatement Agreement from her ( please refer to the email correspondence for documentation ) the terms of the agreement, payments and principal amounts were incorrect. Currently, I owe $240000.00 on this loan. Finally, we discussed the proposed payment schedule ( please refer to the email correspondence documentation ) which has my first payment due -/-/- in the amount of $4200.00 and another payment for -/-/- in the amount of $2900.00. She later told me that she can work with my on the -/-/- payment because its 3 days after the first payment. However, I am due another payment on -/-/-. If that was the case, we could she not adjust the payment schedule from the beginning. If I sign this document - - I would still be delinquent in my repayment due to the payment due dates.