Fay Servicing, LLC
On June 7, 2017, the Bureau issued an order against Fay Servicing, LLC to address the Bureau’s findings that Fay Servicing failed to provide mortgage loan borrowers with the protections against foreclosure required by law, kept borrowers in the dark about critical information about the process for applying for foreclosure relief, and moved forward with the foreclosure process while borrowers were actively seeking help to save their homes. The order required Fay Servicing to stop its illegal practices and pay up to $1.15 million in consumer redress to harmed borrowers.
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