Fay Servicing Mortgage Rates, Fees & Info

DOVER, DE

LEI: 549300D0H09HSURFXA20

Tax ID: 41-2277737

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Fay Servicing is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Fay Servicing has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Atlanta, Los Angeles, New York, Chicago, and Miami among others. We have data for 149 markets. (Some data included below & more in-depth data is available with an active subscription.)

Fay Servicing has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fay Servicing is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.04% 3/28/24
30 Year Conventional Refi 6.88% 3/28/24
30 Year Cash-out Refi 7.07% 3/28/24
30 Year FHA Purchase 7.54% 3/28/24
30 Year FHA Refi 7.30% 3/28/24
30 Year VA Refi 6.27% 3/28/24
15 Year Conventional Refi 6.39% 3/28/24
15 Year Cash-out Refi 6.39% 3/28/24
15 Year FHA Refi 7.26% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Fay Servicing Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Fay Servicing. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

442

Origination Dollar Volume (All Markets)

$75,180,000

Awards

FAY SERVICING 30 Year Conventional Loans bronze
Show all (1) awards

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 41 $6,205,000 $151,341 $4,190 5.34%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 17 $5,425,000 $319,118 $6,513 4.87%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 17 $4,245,000 $249,706 $4,967 5.22%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 20 $3,870,000 $193,500 $5,420 5.04%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 11 $2,435,000 $221,364 $5,487 5.05%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 15 $2,415,000 $161,000 $4,445 5.08%
Outside of Metro Areas 23 $2,385,000 $103,696 $4,057 5.12%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 6 $2,020,000 $336,667 $8,611 5.17%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 9 $1,665,000 $185,000 $6,418 5.14%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 8 $1,650,000 $206,250 $5,450 5.47%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 6 $1,640,000 $273,333 $8,587 4.77%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 5 $1,575,000 $315,000 $7,676 5.18%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $1,565,000 $173,889 $3,865 4.67%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 10 $1,520,000 $152,000 $5,500 5.53%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 5 $1,135,000 $227,000 $5,280 4.60%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,105,000 $368,333 $7,792 5.21%
RALEIGH-CARY, NC (FHA|USDA|VA) 4 $1,020,000 $255,000 $4,601 5.31%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 4 $990,000 $247,500 $6,526 5.69%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 5 $965,000 $193,000 $8,020 5.90%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 8 $940,000 $117,500 $4,435 5.28%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $885,000 $295,000 $5,362 5.58%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 4 $880,000 $220,000 $5,010 4.63%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $850,000 $212,500 $5,435 5.06%
LOUISVILLE, KY (FHA|USDA|VA) 6 $780,000 $130,000 $5,195 5.31%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 5 $705,000 $141,000 $4,835 4.73%
STOCKTON, CA (FHA|USDA|VA) 2 $680,000 $340,000 $11,910 5.63%
RICHMOND, VA (FHA|USDA|VA) 3 $675,000 $225,000 $7,439 5.17%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $650,000 $325,000 $6,666 5.99%
COLUMBUS, OH (FHA|USDA|VA) 5 $645,000 $129,000 $3,899 5.08%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 7 $615,000 $87,857 $2,745 5.38%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $595,000 $198,333 $7,913 5.21%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $545,000 $181,667 $5,712 5.29%
BATON ROUGE, LA (FHA|USDA|VA) 2 $530,000 $265,000 $5,085 5.75%
BOULDER, CO (FHA|USDA|VA) 3 $515,000 $171,667 $3,553 5.67%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 5 $495,000 $99,000 $3,694 5.25%
SAVANNAH, GA (FHA|USDA|VA) 3 $485,000 $161,667 $3,418 5.38%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $485,000 $161,667 $4,733 4.75%
PITTSBURGH, PA (FHA|USDA|VA) 4 $470,000 $117,500 $5,532 4.72%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 5 $465,000 $93,000 $4,168 5.15%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $460,000 $230,000 $5,125 4.25%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $420,000 $210,000 $7,935 5.00%
YAKIMA, WA (FHA|USDA|VA) 2 $370,000 $185,000 $7,211 4.81%
MIDLAND, TX (FHA|USDA|VA) 1 $355,000 $355,000 $6,023 4.63%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $340,000 $170,000 $3,326 6.06%
VALLEJO, CA (FHA|USDA|VA) 1 $335,000 $335,000 $5,486 4.38%
FLINT, MI (FHA|USDA|VA) 3 $335,000 $111,667 $4,171 5.54%
DALTON, GA (FHA|USDA|VA) 2 $330,000 $165,000 $2,900 5.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 4 $330,000 $82,500 $2,609 5.06%
KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $325,000 $108,333 $4,301 5.25%
ROANOKE, VA (FHA|USDA|VA) 2 $320,000 $160,000 $6,797 5.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $310,000 $155,000 $5,946 4.56%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $300,000 $150,000 $4,185 5.06%
WINSTON-SALEM, NC (FHA|USDA|VA) 3 $285,000 $95,000 $3,181 5.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $280,000 $140,000 $5,142 5.13%
KNOXVILLE, TN (FHA|USDA|VA) 2 $280,000 $140,000 $6,407 5.94%
ROCHESTER, MN (FHA|USDA|VA) 2 $270,000 $135,000 $3,421 5.13%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $270,000 $135,000 $3,432 4.56%
ASHEVILLE, NC (FHA|USDA|VA) 1 $265,000 $265,000 $3,237 5.88%
GREELEY, CO (FHA|USDA|VA) 1 $265,000 $265,000 $9,211 3.75%
Key West, FL (FHA|USDA|VA) 1 $265,000 $265,000 $11,661 4.88%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $260,000 $130,000 $4,154 4.69%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $260,000 $130,000 $3,663 6.06%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,296 4.63%
COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $250,000 $125,000 $4,414 5.19%
WICHITA, KS (FHA|USDA|VA) 2 $250,000 $125,000 $6,069 5.38%
TOLEDO, OH (FHA|USDA|VA) 2 $250,000 $125,000 $5,178 5.69%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $245,000 $245,000 $5,215 5.25%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $240,000 $120,000 $2,853 5.38%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $230,000 $115,000 $3,260 4.69%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 2 $230,000 $115,000 $3,522 5.44%
VALDOSTA, GA (FHA|USDA|VA) 2 $220,000 $110,000 $2,629 5.00%
SANTA FE, NM (FHA|USDA|VA) 1 $205,000 $205,000 $12,255 4.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $205,000 $205,000 $4,106 4.75%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $195,000 $195,000 $6,373 4.88%
SALINAS, CA (FHA|USDA|VA) 1 $195,000 $195,000 $4,027 4.38%
Hutchinson, MN (FHA|USDA|VA) 1 $195,000 $195,000 $2,560 5.38%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $195,000 $195,000 $9,986 4.88%
Clearlake, CA (FHA|USDA|VA) 1 $195,000 $195,000 $3,481 5.88%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $185,000 $185,000 $0 6.50%
Portsmouth, OH (FHA|USDA|VA) 1 $185,000 $185,000 $3,174 5.00%
MOBILE, AL (FHA|USDA|VA) 2 $180,000 $90,000 $4,180 5.50%
BLOOMINGTON, IN (FHA|USDA|VA) 2 $170,000 $85,000 $3,791 5.63%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $165,000 $165,000 $5,286 4.88%
COLUMBUS, GA-AL (FHA|USDA|VA) 2 $160,000 $80,000 $3,357 4.38%
BURLINGTON, NC (FHA|USDA|VA) 1 $155,000 $155,000 $8,681 5.25%
GAINESVILLE, GA (FHA|USDA|VA) 1 $145,000 $145,000 $2,703 5.00%
COLUMBIA, SC (FHA|USDA|VA) 1 $145,000 $145,000 $6,058 5.38%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $145,000 $145,000 $7,700 4.88%
OCALA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $5,989 4.88%
North Vernon, IN (FHA|USDA|VA) 1 $145,000 $145,000 $7,712 6.75%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 2 $140,000 $70,000 $2,472 5.63%
FRESNO, CA (FHA|USDA|VA) 1 $135,000 $135,000 $7,290 4.50%
Stillwater, OK (FHA|USDA|VA) 1 $135,000 $135,000 $5,166 5.75%
LONGVIEW, WA (FHA|USDA|VA) 1 $135,000 $135,000 $4,078 4.50%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $135,000 $135,000 $4,282 4.50%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $125,000 $125,000 $6,032 4.50%
Hutchinson, KS (FHA|USDA|VA) 1 $125,000 $125,000 $4,840 4.75%
Gaffney, SC (FHA|USDA|VA) 1 $125,000 $125,000 $7,826 7.00%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $2,960 4.38%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $125,000 $125,000 $2,893 5.50%
Fort Morgan, CO (FHA|USDA|VA) 1 $125,000 $125,000 $3,566 5.25%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $125,000 $125,000 $4,036 4.50%
BRUNSWICK, GA (FHA|USDA|VA) 1 $125,000 $125,000 $2,720 5.00%
DULUTH, MN-WI (FHA|USDA|VA) 1 $125,000 $125,000 $3,165 4.75%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $125,000 $125,000 $4,315 5.25%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $115,000 $115,000 $4,895 5.50%
Sterling, CO (FHA|USDA|VA) 1 $115,000 $115,000 $4,779 3.88%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $115,000 $115,000 $4,332 4.63%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $115,000 $115,000 $8,058 4.88%
LaGrange, GA-AL (FHA|USDA|VA) 1 $115,000 $115,000 $2,778 5.00%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $115,000 $115,000 $6,906 6.25%
Brookhaven, MS (FHA|USDA|VA) 1 $115,000 $115,000 $5,173 5.13%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $105,000 $105,000 $5,640 4.75%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $105,000 $105,000 $2,744 5.25%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $105,000 $105,000 $2,570 5.00%
LAFAYETTE, LA (FHA|USDA|VA) 1 $105,000 $105,000 $2,426 5.25%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $105,000 $105,000 $6,248 5.38%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $105,000 $105,000 $3,835 4.25%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $105,000 $105,000 $5,273 5.63%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $105,000 $105,000 $3,214 4.50%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $105,000 $105,000 $7,617 7.00%
COLUMBUS, IN (FHA|USDA|VA) 1 $95,000 $95,000 $2,743 4.88%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $95,000 $95,000 $4,848 5.63%
Oak Harbor, WA (FHA|USDA|VA) 1 $95,000 $95,000 $3,502 4.75%
Sandusky, OH (FHA|USDA|VA) 1 $95,000 $95,000 $3,135 4.50%
ALBANY, GA (FHA|USDA|VA) 1 $95,000 $95,000 $2,536 5.00%
Jesup, GA (FHA|USDA|VA) 1 $85,000 $85,000 $5,316 5.75%
KOKOMO, IN (FHA|USDA|VA) 1 $85,000 $85,000 $2,191 3.88%
Marion, NC (FHA|USDA|VA) 1 $85,000 $85,000 $2,876 4.63%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $85,000 $85,000 $4,014 4.50%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $75,000 $75,000 $2,240 5.00%
Cornelia, GA (FHA|USDA|VA) 1 $75,000 $75,000 $1,250 5.25%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $75,000 $75,000 $2,907 4.75%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $75,000 $75,000 $4,729 4.50%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $75,000 $75,000 $2,614 4.75%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $75,000 $75,000 $2,542 4.75%
HINESVILLE, GA (FHA|USDA|VA) 1 $75,000 $75,000 $2,512 4.38%
Duncan, OK (FHA|USDA|VA) 1 $65,000 $65,000 $4,432 4.88%
TULSA, OK (FHA|USDA|VA) 1 $65,000 $65,000 $3,604 5.38%
Jasper, AL (FHA|USDA|VA) 1 $65,000 $65,000 $2,682 5.63%
Cleveland, MS (FHA|USDA|VA) 1 $65,000 $65,000 $3,572 4.38%
MONTGOMERY, AL (FHA|USDA|VA) 1 $65,000 $65,000 $2,380 4.75%
EL PASO, TX (FHA|USDA|VA) 1 $65,000 $65,000 $1,625 5.25%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $65,000 $65,000 $3,763 4.88%
Mount Airy, NC (FHA|USDA|VA) 1 $65,000 $65,000 $2,846 5.00%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $55,000 $55,000 $4,636 7.00%
Hillsdale, MI (FHA|USDA|VA) 1 $55,000 $55,000 $2,551 5.00%
JACKSON, TN (FHA|USDA|VA) 1 $55,000 $55,000 $3,986 5.88%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $45,000 $45,000 $2,144 4.63%
Fay Servicing's top markets include Atlanta, Los Angeles, New York, Chicago, and Miami among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 340 $57,900,000 $170,294 $4,310 5.03%
    FHA 102 $17,280,000 $169,412 $6,942 5.59%

    For 2018, Fay Servicing's most frequently originated type of loan was Conventional, with 340 originations. Their 2nd most popular type was FHA, with 102 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 216 $35,380,000 $163,796 $4,305 5.02%
    Cash Out Refi 180 $30,110,000 $167,278 $5,408 5.35%
    Home Purchase 46 $9,690,000 $210,652 $6,207 5.04%

    For 2018, Fay Servicing's most frequently cited loan purpose was Refi, with 216 originations. The 2nd most popular reason was Cash Out Refi, with 180 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 326 $59,550,000 $182,669 $5,195 5.33%
    15 Year 68 $9,130,000 $134,265 $4,231 4.51%
    20 Year 31 $4,915,000 $158,548 $5,237 4.92%
    10 Year 11 $1,005,000 $91,364 $3,114 4.57%
    Other 6 $580,000 $96,667 $2,077 5.17%

    For 2018, Fay Servicing's most frequently cited loan duration was 30 Year, with 326 originations. The 2nd most popular length was 15 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 149 $24,195,000 $162,383
    $1k-2k 103 $14,685,000 $142,573
    $2k-3k 70 $9,770,000 $139,571
    $3k-4k 42 $7,060,000 $168,095
    $5k+ 36 $11,040,000 $306,667
    $4k-5k 23 $4,475,000 $194,565

    Fay Servicing's average total fees were $5,195, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 149 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 239 $40,565,000 $169,728
    5-6% 141 $25,405,000 $180,177
    6-7% 41 $5,945,000 $145,000
    3-4% 17 $2,515,000 $147,941
    7-8% 4 $750,000 $187,500

    During 2018, Fay Servicing's average interest rate for loans was 5.33%, while their most frequently originated rate bucket for loans was 4-5%, with 239 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 212 $29,820,000 $140,660 $4,607 5.14%
    $200k-400k 113 $30,955,000 $273,938 $6,629 5.16%
    $100,000 or less 103 $7,685,000 $74,612 $3,279 5.19%
    $400k-600k 13 $6,015,000 $462,692 $9,182 5.08%
    $600k-1MM 1 $705,000 $705,000 $11,358 5.50%

    2018 saw Fay Servicing place emphasis on $100k-200k loans with 212 originations, totaling $29,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 123 $12,635,000 $102,724 $3,984 5.05%
    $50k-75k 101 $16,085,000 $159,257 $4,981 5.04%
    $75k-100k 73 $13,315,000 $182,397 $5,676 5.21%
    $100k-150k 70 $15,300,000 $218,571 $5,763 5.09%
    $150k-250k 39 $9,925,000 $254,487 $5,648 5.24%
    $250k+ 7 $2,325,000 $332,143 $4,609 5.13%

    Fay Servicing lent most frequently to those with incomes in the $50k or less range, with 123 originations. The second most popular income band? $50k-75k, with 101 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 97 $15,185,000 $156,546 $4,417 5.06%
    30-36% 70 $11,700,000 $167,143 $4,651 5.03%
    44% 26 $4,780,000 $183,846 $5,977 5.22%
    41% 22 $2,770,000 $125,909 $3,794 5.18%
    40% 20 $3,890,000 $194,500 $5,336 5.25%
    42% 19 $3,455,000 $181,842 $3,313 5.17%
    <20% 18 $2,220,000 $123,333 $4,340 5.03%
    48% 17 $2,745,000 $161,471 $4,961 4.82%
    49% 17 $2,695,000 $158,529 $4,835 5.07%
    39% 15 $2,075,000 $138,333 $4,343 5.31%
    50-60% 14 $2,980,000 $212,857 $8,697 5.51%
    46% 13 $3,015,000 $231,923 $5,933 5.18%
    43% 13 $2,635,000 $202,692 $6,965 5.00%
    36% 12 $2,350,000 $195,833 $5,115 4.67%
    45% 11 $2,165,000 $196,818 $7,431 5.63%
    47% 11 $1,835,000 $166,818 $6,168 4.88%
    37% 10 $1,790,000 $179,000 $5,161 5.14%
    38% 8 $1,220,000 $152,500 $4,350 5.17%
    >60% 2 $320,000 $160,000 $5,015 4.88%

    Fay Servicing lent most frequently to those with DTI ratios of 20-30%, with 97 originations. The next most common DTI ratio? 30-36%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 295 $50,505,000 $171,203 $4,906 5.15%
    Black 99 $15,335,000 $154,899 $4,602 5.22%
    Not provided 34 $6,410,000 $188,529 $6,273 5.03%
    Asian 9 $2,385,000 $265,000 $5,662 5.13%
    American Indian 4 $410,000 $102,500 $3,366 5.16%
    Native Hawaiian or Islander 1 $135,000 $135,000 $7,290 4.50%

    Approval Rates

    Total approvals of all applications
    59.25%

    Fay Servicing has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    -204.75%

    Fay Servicing has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 442 $75,180,000 $170,090

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $450,000 $112,500
    Single Family (1-4 Units):Site-Built 438 $74,730,000 $170,616

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,190,000 $119,000 $3,963 5.13%
    40-60% 77 $12,385,000 $160,844 $4,665 4.92%
    60-80% 165 $28,955,000 $175,485 $5,367 5.16%
    80-100% 135 $23,665,000 $175,296 $5,526 5.28%
    Over 100% 18 $2,770,000 $153,889 $2,663 5.36%
    Under 20% 3 $585,000 $195,000 $3,784 5.37%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Fay Servicing, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 1.3%
    Fay Servicing, LLC Conventional home mortgage Closing on a mortgage 2 0.9%
    Fay Servicing, LLC Conventional home mortgage Incorrect information on your report 3 1.3%
    Fay Servicing, LLC Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.4%
    Fay Servicing, LLC Conventional home mortgage Struggling to pay mortgage 106 45.1%
    Fay Servicing, LLC Conventional home mortgage Trouble during payment process 59 25.1%
    Fay Servicing, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    Fay Servicing, LLC FHA mortgage Struggling to pay mortgage 14 6.0%
    Fay Servicing, LLC FHA mortgage Trouble during payment process 6 2.6%
    Fay Servicing, LLC Home equity loan or line of credit (HELOC) Struggling to pay mortgage 3 1.3%
    Fay Servicing, LLC Home equity loan or line of credit (HELOC) Trouble during payment process 5 2.1%
    Fay Servicing, LLC Other type of mortgage Struggling to pay mortgage 10 4.3%
    Fay Servicing, LLC Other type of mortgage Trouble during payment process 19 8.1%
    Fay Servicing, LLC VA mortgage Struggling to pay mortgage 1 0.4%
    Fay Servicing, LLC VA mortgage Trouble during payment process 1 0.4%