CFPB v. Fay Servicing, LLC
The Consumer Financial Protection Bureau (CFPB) took action against mortgage servicer Fay Servicing for failing to provide mortgage borrowers with the protections against foreclosure required by law.
The CFPB found that Fay violated the CFPB's servicing rules by keeping borrowers in the dark about critical information about the process of applying for foreclosure relief. The CFPB also found instances where the servicer illegally launched or moved forward with the foreclosure process while borrowers actively sought help to save their homes.
The CFPB contracted with RUST Consulting to administer payments for this case and to answer questions from consumers. This matter is now closed.
Payments and check reissue requests are no longer being honored. For more information on this closed case, contact us at Consumer Financial Protection Bureau, Attn: OCFO, Fay Servicing, 1700 G Street NW, Washington DC 20552.
March 2022 – July 2023