Contact us toll free at 1-800-495-7166

****All customers****
PLEASE READ this IMPORTANT information
regarding the COVID-19 disaster

Please be advised that we are open and working to ensure all borrower questions and concerns are answered as quickly as possible. However, with the current constraints on resources, our response and hold times may be longer than normal. We appreciate your patience during this troubling time and would like to remind you about the online and phone resources that will allow you to self-service and continue to make your payments at your convenience. You can register for online access to your loan in the “My Loan” section of the home page. You can also call our listed 800 number to hear your balance and make payments. Additionally, if you have questions that require us to assist you, you can send your questions to our Customer Service group at customersupport@fayservicing.com. We will respond to your email within 48 hours. We hope that all of our borrowers are safe and taking care of their families during this crisis. Fay is here to assist you with your home needs as they may arise.

Fay Servicing Response to CFPB Agreement

[Chicago, IL]

Fay Servicing, LLC has reached an agreement with the Consumer Financial Protection Bureau (CFPB) regarding allegations that it failed to comply with rules governing the loss mitigation process for borrowers who were in default on their mortgages. Fay has agreed to pay $1.15 million in redress to the affected borrowers. No penalty was assessed and no monitor is required going forward.

Fay has always been committed to delivering a high-quality customer service experience to borrowers while complying with all applicable legal and regulatory requirements. The isolated claims concern a small fraction of the more than 85,000 borrowers whose mortgages Fay Servicing has serviced since it was founded in 2008. While Fay regrets any instance in which it did not comply with a regulatory requirement, we believe the affected borrowers were well-served during the loss mitigation process using Fay’s high-touch and borrower-centric approach to servicing severely delinquent loans. The company reached this agreement with the CFPB in the interest of putting this matter behind it and focusing on the needs of its clients, employees, and borrowers.

Fay Servicing is an independently-owned mortgage servicer that specializes in managing at-risk residential mortgage loans. Fay plays a crucial role in America’s housing finance system by helping severely delinquent borrowers avoid foreclosure. Although the delinquent mortgages Fay boards are on average more than 700 days past due, 70 percent of these borrowers have successfully completed the loss mitigation process or are currently in loss mitigation. This exemplary track record demonstrates Fay’s commitment to serving borrowers as well as its ability to have a positive impact on their lives. Fay continues to be at the forefront of the customer service industry and looks to build upon its strong record of responsible mortgage servicing going forward.