Fay Servicing

Financial Services95% confidence

Fay Servicing is a mortgage loan servicing company that manages billing, payments, and customer support for home loans on behalf of lenders and investors.

Chicago, Illinois
Owned by The Fay Group LLC

About Fay Servicing

Fay Servicing is a mortgage loan servicing company that handles the day-to-day administration of home loans, including payment processing, escrow management, statements, and customer support. They do not necessarily originate your mortgage; instead, they may acquire the servicing rights from another lender or investor and then become the company you pay each month. Fay Servicing works with a range of residential mortgage products, including conventional, FHA, VA, and non-performing or delinquent loans that require specialized management.

A charge or ACH entry labeled “FAY SERVICING ACH PMTS” typically represents an electronic mortgage payment made from your bank account to Fay Servicing. This may be a one-time online payment, a scheduled monthly autopay, or a catch-up/partial payment arrangement under a repayment plan or loan modification. You might also see multiple entries if you have set up separate payments for principal-only amounts, escrow shortages, or fees, or if a previous payment was reversed and reprocessed.

If you have questions about a Fay Servicing charge, start by logging into your mortgage account on their website or reviewing your most recent mortgage statement to match dates and amounts. Your online portal will usually show payment history and any pending or returned payments. For unresolved issues—such as payments you don’t recognize, duplicate debits, or concerns about due dates—contact Fay Servicing’s customer service using the phone number listed on your statement or in your online account. Keep copies of bank statements, confirmation numbers, and any correspondence, as these will help their support team quickly research and resolve billing concerns.

Bank Statement Variations

1 known variations

These are the raw merchant codes that appear on bank and credit card statements that we've identified as belonging to Fay Servicing.

  1. FAY SERVICING ACH PMTS 0050200244

Frequently Asked Questions

Why do I see a charge labeled “FAY SERVICING ACH PMTS” on my bank statement?

This description indicates an electronic (ACH) mortgage payment debited from your bank account by Fay Servicing. It usually corresponds to your scheduled monthly mortgage payment or a one-time payment you authorized through their online portal, phone system, or automatic draft form.

How can I verify which mortgage payment the Fay Servicing ACH debit corresponds to?

Log in to your Fay Servicing online account and review your payment history for the date of the debit. The portal and your monthly statement will show the payment date, amount, and how it was applied to principal, interest, escrow, and fees—these should match the ACH entry on your bank statement.

How do I change or cancel my automatic mortgage payments with Fay Servicing?

To change or cancel autopay, sign in to your Fay Servicing online account and go to the payments or automatic draft section, where you can edit or disable recurring payments. You can also call the customer service number on your mortgage statement to request cancellation, but do so several business days before your next due date to prevent another draft.

What should I do if I see a Fay Servicing ACH payment I don’t recognize or for the wrong amount?

First, compare the amount to your regular mortgage payment and check your online account for any escrow changes, fees, or additional payments you may have scheduled. If it still doesn’t match, contact Fay Servicing’s customer service immediately with your loan number, the debit amount, and the transaction date so they can investigate and, if appropriate, correct or refund the charge.

Can Fay Servicing process multiple ACH payments in the same month?

Yes. You may see multiple Fay Servicing ACH debits in a month if you made extra principal payments, set up a catch-up or repayment plan, paid an escrow shortage, or if a returned payment was reprocessed. Your online payment history and monthly statement will show each transaction and its purpose.

How does Fay Servicing handle returned or rejected ACH payments?

If your bank rejects an ACH payment due to insufficient funds or other issues, Fay Servicing may reverse the payment on your loan and, in some cases, assess a returned payment fee in accordance with your loan documents and state law. You’ll typically see both the original debit and the reversal on your statements; contact Fay Servicing promptly to arrange a successful payment and avoid late charges.

How can I request a refund or correction for an incorrect Fay Servicing ACH debit?

Contact Fay Servicing’s customer service using the phone number or mailing address on your mortgage statement and provide your loan number, the exact amount, and the bank transaction date. In some cases, your bank may also be able to initiate an ACH dispute, but working directly with Fay Servicing usually speeds up corrections and any eligible refunds.

Where can I find Fay Servicing’s contact information to discuss a billing or payment issue?

The most reliable contact details are on your monthly mortgage statement and in your online account at fayservicing.com. There you’ll find customer service phone numbers, mailing addresses for payments and written inquiries, and sometimes secure messaging options within the borrower portal.

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