As of February 8th, 2022, the Consumer Financial Protection Bureau (CFPB) took action against mortgage servicer Fay Servicing for failing to provide mortgage borrowers with the protections against foreclosure that are required by law.
The Bureau 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.”
They also detected instances where Fay Servicing “illegally launched or moved forward with the foreclosure process while borrowers were actively seeking help to save their homes.”
Additional law violations include, but are not limited to:
A complete list of violations, along with further information, can be found in the servicing consent order.
As a result of these numerous and serious infractions, the CFPB has ordered Fay Servicing to stop its illegal practices and pay up to $1.15 million to harmed borrowers.
If you have been harmed by Fay Servicing or another lender, are in need of loan modification help, or are facing a sheriff’s sale or foreclosure, contact the Law Office of Ira J. Metrick in Freehold, NJ for information and assistance.
For more than 20 years, the focus of my law firm has been consumer advocacy. Whether it has been fighting foreclosure, taking on abusive debt collectors, or dealing with issues related to bankruptcy proceedings, I have helped my clients tackle seemingly insurmountable financial difficulties. continue reading
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For more than 20 years, the focus of my law firm has been consumer advocacy. Whether it has been fighting foreclosure , helping apply for Mortgage Loan Modifications , assisting with Surplus Funds, or helping resolve complex federal tax lien issues , I’ve helped my clients fight against overwhelming financial difficulties.
No matter what stage you’re at in the sheriff sale , foreclosure, or federal tax lien process, you may still have options. When you retain my firm, our office can help you legally stop calls from your lender and navigate tax lien or foreclosure notices you may have received. Contact us today to schedule a free no-obligation consultation.
