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

Review & Overview

Fay Servicing is a smaller mortgage company specializing in Cash Out Refi and 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: New York, Los Angeles, Miami, Chicago, and San Francisco among others. We have data for 175 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%	11/22/24
30 Year Conventional Refi	6.88%	11/22/24
30 Year Cash-out Refi	7.07%	11/22/24
30 Year FHA Purchase	7.54%	11/22/24
30 Year FHA Refi	7.30%	11/22/24
30 Year VA Refi	6.27%	11/22/24
15 Year Conventional Refi	6.39%	11/22/24
15 Year Cash-out Refi	6.39%	11/22/24
15 Year FHA Refi	7.26%	11/22/24
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

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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

706

Origination Dollar Volume (All Markets)

$151,490,000

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
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	43	$13,765,000	$320,116	$7,487	6.59%
Los Angeles-Long Beach-Anaheim, CA (FHA\|USDA\|VA)	32	$13,590,000	$424,688	$8,440	5.26%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	31	$9,385,000	$302,742	$5,974	5.61%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	40	$6,940,000	$173,500	$3,916	7.04%
San Francisco-Oakland-Berkeley, CA (FHA\|USDA\|VA)	10	$6,020,000	$602,000	$13,531	4.44%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	40	$5,450,000	$136,250	$6,115	5.92%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	17	$4,655,000	$273,824	$5,672	5.77%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	17	$3,895,000	$229,118	$5,526	5.29%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	9	$3,695,000	$410,556	$5,083	5.25%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	21	$3,555,000	$169,286	$5,452	4.71%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA\|USDA\|VA)	15	$3,395,000	$226,333	$6,933	6.09%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	15	$3,195,000	$213,000	$5,447	5.90%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	12	$2,670,000	$222,500	$5,601	5.50%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA\|USDA\|VA)	11	$2,645,000	$240,455	$5,871	4.69%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	12	$2,370,000	$197,500	$3,386	5.77%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA\|USDA\|VA)	4	$2,320,000	$580,000	$17,571	5.43%
STOCKTON, CA (FHA\|USDA\|VA)	6	$2,320,000	$386,667	$11,150	5.71%
Detroit-Warren-Dearborn, MI (FHA\|USDA\|VA)	9	$1,985,000	$220,556	$5,463	6.14%
BATON ROUGE, LA (FHA\|USDA\|VA)	2	$1,890,000	$945,000	$6,918	7.20%
Key West, FL (FHA\|USDA\|VA)	3	$1,715,000	$571,667	$0	5.96%
Outside of Metro Areas	14	$1,660,000	$118,571	$3,880	5.45%
RICHMOND, VA (FHA\|USDA\|VA)	12	$1,610,000	$134,167	$8,148	6.76%
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	6	$1,580,000	$263,333	$5,890	5.00%
Seattle-Tacoma-Bellevue, WA (FHA\|USDA\|VA)	5	$1,395,000	$279,000	$6,297	5.30%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA\|USDA\|VA)	4	$1,320,000	$330,000	$6,468	5.04%
JACKSONVILLE, FL (FHA\|USDA\|VA)	6	$1,290,000	$215,000	$10,734	6.14%
CLEVELAND-ELYRIA, OH (FHA\|USDA\|VA)	12	$1,170,000	$97,500	$5,630	7.57%
MILWAUKEE-WAUKESHA, WI (FHA\|USDA\|VA)	6	$1,150,000	$191,667	$8,271	6.29%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA\|USDA\|VA)	6	$1,110,000	$185,000	$5,603	6.60%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA\|USDA\|VA)	6	$1,100,000	$183,333	$6,921	6.20%
Kill Devil Hills, NC (FHA\|USDA\|VA)	2	$1,080,000	$540,000	$0	6.50%
MEDFORD, OR (FHA\|USDA\|VA)	6	$1,030,000	$171,667	$6,535	6.91%
CINCINNATI, OH-KY-IN (FHA\|USDA\|VA)	5	$1,015,000	$203,000	$6,494	5.00%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	4	$1,010,000	$252,500	$5,514	4.34%
KANSAS CITY, MO-KS (FHA\|USDA\|VA)	6	$1,000,000	$166,667	$3,235	4.42%
PORT ST. LUCIE, FL (FHA\|USDA\|VA)	11	$985,000	$89,545	$2,793	6.03%
COLUMBUS, OH (FHA\|USDA\|VA)	5	$975,000	$195,000	$6,015	4.35%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA\|USDA\|VA)	3	$955,000	$318,333	$13,286	5.96%
ST. LOUIS, MO-IL (FHA\|USDA\|VA)	10	$940,000	$94,000	$4,700	7.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	3	$865,000	$288,333	$7,515	5.67%
LOUISVILLE, KY (FHA\|USDA\|VA)	5	$835,000	$167,000	$6,945	4.75%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA\|USDA\|VA)	6	$820,000	$136,667	$5,237	4.83%
FAYETTEVILLE, NC (FHA\|USDA\|VA)	4	$790,000	$197,500	$7,113	6.44%
TUCSON, AZ (FHA\|USDA\|VA)	8	$790,000	$98,750	$0	5.63%
PUNTA GORDA, FL (FHA\|USDA\|VA)	4	$740,000	$185,000	$9,934	5.58%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA\|USDA\|VA)	2	$730,000	$365,000	$4,499	4.75%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	5	$725,000	$145,000	$3,755	5.85%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	5	$725,000	$145,000	$6,305	5.60%
SANTA CRUZ-WATSONVILLE, CA (FHA\|USDA\|VA)	1	$665,000	$665,000	$14,238	4.63%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA\|USDA\|VA)	6	$610,000	$101,667	$4,467	5.00%
BAKERSFIELD, CA (FHA\|USDA\|VA)	3	$595,000	$198,333	$7,615	5.08%
Breckenridge, CO (FHA\|USDA\|VA)	1	$585,000	$585,000	$4,460	4.50%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA\|USDA\|VA)	4	$560,000	$140,000	$6,059	5.38%
RALEIGH-CARY, NC (FHA\|USDA\|VA)	3	$505,000	$168,333	$5,420	5.33%
MEMPHIS, TN-MS-AR (FHA\|USDA\|VA)	5	$505,000	$101,000	$7,951	6.23%
LANSING-EAST LANSING, MI (FHA\|USDA\|VA)	3	$445,000	$148,333	$5,152	6.25%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$425,000	$425,000	$5,602	4.50%
Newport, OR (FHA\|USDA\|VA)	1	$425,000	$425,000	$9,495	5.63%
Truckee-Grass Valley, CA (FHA\|USDA\|VA)	1	$425,000	$425,000	$10,677	3.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	2	$410,000	$205,000	$3,540	4.75%
COLUMBIA, SC (FHA\|USDA\|VA)	3	$405,000	$135,000	$3,752	4.88%
TRENTON-PRINCETON, NJ (FHA\|USDA\|VA)	3	$405,000	$135,000	$0	8.88%
SYRACUSE, NY (FHA\|USDA\|VA)	2	$380,000	$190,000	$0	7.44%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA\|USDA\|VA)	2	$380,000	$190,000	$5,221	4.81%
SANTA FE, NM (FHA\|USDA\|VA)	2	$370,000	$185,000	$8,766	5.13%
NEW ORLEANS-METAIRIE, LA (FHA\|USDA\|VA)	3	$365,000	$121,667	$5,680	6.92%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	2	$360,000	$180,000	$9,506	5.38%
SAVANNAH, GA (FHA\|USDA\|VA)	2	$350,000	$175,000	$4,032	6.56%
GREENSBORO-HIGH POINT, NC (FHA\|USDA\|VA)	5	$335,000	$67,000	$0	7.38%
SANTA MARIA-SANTA BARBARA, CA (FHA\|USDA\|VA)	1	$335,000	$335,000	$0	6.00%
GRANTS PASS, OR (FHA\|USDA\|VA)	2	$320,000	$160,000	$0	7.06%
YORK-HANOVER, PA (FHA\|USDA\|VA)	2	$320,000	$160,000	$9,188	5.00%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA\|USDA\|VA)	3	$315,000	$105,000	$1,792	8.90%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA\|USDA\|VA)	2	$310,000	$155,000	$11,393	7.00%
OLYMPIA-LACEY-TUMWATER, WA (FHA\|USDA\|VA)	1	$305,000	$305,000	$7,382	4.63%
MOUNT VERNON-ANACORTES, WA (FHA\|USDA\|VA)	1	$295,000	$295,000	$0	6.13%
JOHNSON CITY, TN (FHA\|USDA\|VA)	1	$295,000	$295,000	$11,796	4.50%
DES MOINES-WEST DES MOINES, IA (FHA\|USDA\|VA)	2	$290,000	$145,000	$9,600	7.58%
Aberdeen, WA (FHA\|USDA\|VA)	2	$290,000	$145,000	$7,275	5.38%
BOULDER, CO (FHA\|USDA\|VA)	1	$275,000	$275,000	$0	6.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	1	$275,000	$275,000	$4,584	5.50%
COLORADO SPRINGS, CO (FHA\|USDA\|VA)	1	$275,000	$275,000	$12,419	4.88%
Ukiah, CA (FHA\|USDA\|VA)	1	$265,000	$265,000	$9,986	5.25%
BIRMINGHAM-HOOVER, AL (FHA\|USDA\|VA)	3	$255,000	$85,000	$3,330	6.50%
ASHEVILLE, NC (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	8.75%
YAKIMA, WA (FHA\|USDA\|VA)	1	$255,000	$255,000	$5,430	3.88%
SPARTANBURG, SC (FHA\|USDA\|VA)	3	$245,000	$81,667	$6,740	5.92%
WINSTON-SALEM, NC (FHA\|USDA\|VA)	3	$245,000	$81,667	$2,787	5.96%
Hermiston-Pendleton, OR (FHA\|USDA\|VA)	2	$240,000	$120,000	$8,382	5.81%
PANAMA CITY, FL (FHA\|USDA\|VA)	1	$235,000	$235,000	$6,944	5.00%
MANHATTAN, KS (FHA\|USDA\|VA)	1	$235,000	$235,000	$7,105	6.00%
SANTA ROSA-PETALUMA, CA (FHA\|USDA\|VA)	1	$235,000	$235,000	$0	6.85%
PROVIDENCE-WARWICK, RI-MA (FHA\|USDA\|VA)	1	$235,000	$235,000	$0	8.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA\|USDA\|VA)	2	$220,000	$110,000	$5,439	5.56%
GAINESVILLE, FL (FHA\|USDA\|VA)	2	$220,000	$110,000	$5,363	6.25%
READING, PA (FHA\|USDA\|VA)	2	$220,000	$110,000	$5,767	4.94%
Searcy, AR (FHA\|USDA\|VA)	1	$215,000	$215,000	$11,390	5.00%
BUFFALO-CHEEKTOWAGA, NY (FHA\|USDA\|VA)	3	$215,000	$71,667	$0	7.33%
TULSA, OK (FHA\|USDA\|VA)	2	$210,000	$105,000	$8,582	7.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	2	$210,000	$105,000	$6,814	6.13%
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	1	$205,000	$205,000	$0	7.38%
Show Low, AZ (FHA\|USDA\|VA)	1	$205,000	$205,000	$5,994	3.88%
GRAND RAPIDS-KENTWOOD, MI (FHA\|USDA\|VA)	2	$200,000	$100,000	$4,319	5.19%
ATLANTIC CITY-HAMMONTON, NJ (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	5.63%
VALLEJO, CA (FHA\|USDA\|VA)	1	$195,000	$195,000	$4,459	4.50%
OKLAHOMA CITY, OK (FHA\|USDA\|VA)	2	$190,000	$95,000	$5,895	5.56%
ROANOKE, VA (FHA\|USDA\|VA)	1	$185,000	$185,000	$5,661	6.13%
MUNCIE, IN (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	6.38%
DAYTON-KETTERING, OH (FHA\|USDA\|VA)	2	$180,000	$90,000	$3,605	4.44%
COLUMBIA, MO (FHA\|USDA\|VA)	1	$175,000	$175,000	$3,651	4.13%
OCEAN CITY, NJ (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	6.98%
RACINE, WI (FHA\|USDA\|VA)	1	$175,000	$175,000	$2,894	3.88%
Jamestown-Dunkirk-Fredonia, NY (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	6.75%
ATHENS-CLARKE COUNTY, GA (FHA\|USDA\|VA)	1	$175,000	$175,000	$2,623	5.00%
SALEM, OR (FHA\|USDA\|VA)	1	$165,000	$165,000	$3,916	4.88%
Washington Court House, OH (FHA\|USDA\|VA)	1	$165,000	$165,000	$9,140	5.75%
Pinehurst-Southern Pines, NC (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	6.63%
SOUTH BEND-MISHAWAKA, IN-MI (FHA\|USDA\|VA)	1	$165,000	$165,000	$6,874	4.50%
MCALLEN-EDINBURG-MISSION, TX (FHA\|USDA\|VA)	2	$160,000	$80,000	$4,869	4.56%
BURLINGTON, NC (FHA\|USDA\|VA)	1	$155,000	$155,000	$2,956	4.38%
EL CENTRO, CA (FHA\|USDA\|VA)	1	$145,000	$145,000	$1,263	5.63%
ST. JOSEPH, MO-KS (FHA\|USDA\|VA)	1	$145,000	$145,000	$8,040	6.25%
HARRISBURG-CARLISLE, PA (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	7.50%
ALBUQUERQUE, NM (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	8.13%
Albemarle, NC (FHA\|USDA\|VA)	1	$135,000	$135,000	$5,156	5.50%
FRESNO, CA (FHA\|USDA\|VA)	1	$135,000	$135,000	$1,880	4.00%
BLOOMINGTON, IL (FHA\|USDA\|VA)	1	$135,000	$135,000	$7,466	6.25%
ELIZABETHTOWN-FORT KNOX, KY (FHA\|USDA\|VA)	1	$135,000	$135,000	$5,468	5.50%
Okeechobee, FL (FHA\|USDA\|VA)	1	$135,000	$135,000	$8,123	5.38%
TOLEDO, OH (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	5.38%
Richmond-Berea, KY (FHA\|USDA\|VA)	1	$125,000	$125,000	$4,821	4.88%
Gaffney, SC (FHA\|USDA\|VA)	1	$125,000	$125,000	$2,625	6.00%
EVANSVILLE, IN-KY (FHA\|USDA\|VA)	1	$125,000	$125,000	$7,293	4.75%
ELKHART-GOSHEN, IN (FHA\|USDA\|VA)	1	$125,000	$125,000	$2,700	4.88%
JACKSON, TN (FHA\|USDA\|VA)	1	$115,000	$115,000	$4,792	3.88%
FLINT, MI (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,660	4.38%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA\|USDA\|VA)	1	$115,000	$115,000	$5,848	4.00%
GREEN BAY, WI (FHA\|USDA\|VA)	1	$115,000	$115,000	$3,957	4.25%
Salem, OH (FHA\|USDA\|VA)	1	$115,000	$115,000	$4,611	3.88%
GREENVILLE-ANDERSON, SC (FHA\|USDA\|VA)	1	$105,000	$105,000	$2,460	4.38%
ALBANY-SCHENECTADY-TROY, NY (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	7.25%
BLOOMINGTON, IN (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	5.00%
Albertville, AL (FHA\|USDA\|VA)	1	$105,000	$105,000	$4,353	3.88%
KOKOMO, IN (FHA\|USDA\|VA)	1	$105,000	$105,000	$5,413	4.88%
MANKATO, MN (FHA\|USDA\|VA)	1	$105,000	$105,000	$5,259	5.00%
HUNTSVILLE, AL (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	7.88%
HOMOSASSA SPRINGS, FL (FHA\|USDA\|VA)	1	$105,000	$105,000	$4,204	3.25%
Lake City, FL (FHA\|USDA\|VA)	1	$105,000	$105,000	$4,509	5.25%
Opelousas, LA (FHA\|USDA\|VA)	1	$105,000	$105,000	$5,165	4.75%
Cleveland, MS (FHA\|USDA\|VA)	1	$105,000	$105,000	$3,766	4.38%
KALAMAZOO-PORTAGE, MI (FHA\|USDA\|VA)	1	$105,000	$105,000	$4,711	3.50%
HICKORY-LENOIR-MORGANTON, NC (FHA\|USDA\|VA)	1	$95,000	$95,000	$5,950	5.88%
Mount Airy, NC (FHA\|USDA\|VA)	1	$95,000	$95,000	$5,007	6.50%
GAINESVILLE, GA (FHA\|USDA\|VA)	1	$95,000	$95,000	$3,755	4.25%
JANESVILLE-BELOIT, WI (FHA\|USDA\|VA)	1	$95,000	$95,000	$3,715	4.38%
SALINAS, CA (FHA\|USDA\|VA)	1	$95,000	$95,000	$2,637	3.88%
Del Rio, TX (FHA\|USDA\|VA)	1	$85,000	$85,000	$6,876	6.50%
SCRANTON--WILKES-BARRE, PA (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	9.45%
Ottawa, IL (FHA\|USDA\|VA)	1	$85,000	$85,000	$6,147	5.75%
MONTGOMERY, AL (FHA\|USDA\|VA)	1	$75,000	$75,000	$6,038	3.38%
WORCESTER, MA-CT (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	6.50%
Stillwater, OK (FHA\|USDA\|VA)	1	$75,000	$75,000	$3,444	5.00%
ROME, GA (FHA\|USDA\|VA)	1	$65,000	$65,000	$2,797	5.50%
PUEBLO, CO (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	7.00%
LAREDO, TX (FHA\|USDA\|VA)	1	$65,000	$65,000	$2,159	4.00%
LONGVIEW, TX (FHA\|USDA\|VA)	1	$65,000	$65,000	$2,537	5.50%
CHARLOTTESVILLE, VA (FHA\|USDA\|VA)	1	$65,000	$65,000	$4,765	5.63%
WAUSAU-WESTON, WI (FHA\|USDA\|VA)	1	$65,000	$65,000	$5,300	7.00%
Granbury, TX (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	6.00%
WICHITA FALLS, TX (FHA\|USDA\|VA)	1	$55,000	$55,000	$3,247	4.50%
Athens, TX (FHA\|USDA\|VA)	1	$55,000	$55,000	$2,696	4.50%
Marshall, MN (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	7.25%
Las Vegas, NM (FHA\|USDA\|VA)	1	$55,000	$55,000	$3,544	4.63%
EL PASO, TX (FHA\|USDA\|VA)	1	$55,000	$55,000	$2,759	5.50%
New Castle, IN (FHA\|USDA\|VA)	1	$45,000	$45,000	$2,860	4.00%

Fay Servicing's top markets include New York, Los Angeles, Miami, Chicago, and San Francisco among others.

Their top states include:

California (FHA|USDA|VA)

Florida (FHA|USDA|VA)

New Jersey (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Similar Lenders

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	560	$123,510,000	$220,554	$5,243	5.97%
FHA	145	$27,825,000	$191,897	$7,778	5.23%
VA	1	$155,000	$155,000	$5,279	5.13%

For 2019, Fay Servicing's most frequently originated type of loan was Conventional, with 560 originations. Their 2nd most popular type was FHA, with 145 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	346	$68,730,000	$198,642	$7,168	5.89%
Refi	228	$53,070,000	$232,763	$5,163	5.05%
Home Purchase	132	$29,690,000	$224,924	$5,805	6.95%

For 2019, Fay Servicing's most frequently cited loan purpose was Cash Out Refi, with 346 originations. The 2nd most popular reason was Refi, with 228 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	514	$111,850,000	$217,607	$6,776	5.78%
15 Year	90	$14,110,000	$156,778	$4,536	4.36%
Other	60	$17,600,000	$293,333	$3,060	8.54%
20 Year	23	$4,565,000	$198,478	$5,991	4.65%
1 Year	11	$2,455,000	$223,182	$0	7.91%
10 Year	8	$910,000	$113,750	$3,544	4.42%

For 2019, Fay Servicing's most frequently cited loan duration was 30 Year, with 514 originations. The 2nd most popular length was 15 Year, with 90 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	125	$21,435,000	$171,480
$5k+	74	$24,430,000	$330,135
$3k-4k	71	$12,375,000	$174,296
$2k-3k	54	$8,770,000	$162,407
$<1k	39	$7,705,000	$197,564
$4k-5k	34	$7,410,000	$217,941

Fay Servicing's average total fees were $6,776, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 125 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	187	$38,805,000	$207,513
6-7%	151	$35,415,000	$234,536
5-6%	131	$24,665,000	$188,282
3-4%	97	$21,605,000	$222,732
7-8%	75	$14,935,000	$199,133
Over 8%	64	$15,810,000	$247,031
2.5-3%	1	$255,000	$255,000

During 2019, Fay Servicing's average interest rate for loans was 5.78%, while their most frequently originated rate bucket for loans was 4-5%, with 187 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	306	$43,960,000	$143,660	$5,249	5.77%
$200k-400k	181	$48,555,000	$268,260	$7,351	5.40%
$100,000 or less	145	$10,825,000	$74,655	$3,903	6.37%
$400k-600k	42	$19,890,000	$473,571	$8,998	5.61%
$600k-1MM	23	$17,045,000	$741,087	$13,690	5.86%
$1MM+	9	$11,215,000	$1,246,111	$0	7.51%

2019 saw Fay Servicing place emphasis on $100k-200k loans with 306 originations, totaling $43,960,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	182	$29,650,000	$162,912	$4,904	5.94%
$50k-75k	97	$16,355,000	$168,608	$6,023	4.76%
$100k-150k	72	$20,480,000	$284,444	$8,044	4.63%
$75k-100k	72	$15,060,000	$209,167	$6,771	4.70%
$150k-250k	32	$11,020,000	$344,375	$7,514	4.81%
$250k+	7	$2,555,000	$365,000	$4,736	4.02%

Fay Servicing lent most frequently to those with incomes in the $50k or less range, with 182 originations. The second most popular income band? $50k-75k, with 97 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	54	$10,500,000	$194,444	$5,912	4.77%
20-30%	45	$7,295,000	$162,111	$4,968	4.59%
50-60%	28	$5,650,000	$201,786	$10,014	5.17%
42%	24	$5,690,000	$237,083	$5,099	4.79%
37%	21	$3,965,000	$188,810	$6,567	4.93%
41%	18	$4,120,000	$228,889	$6,490	5.10%
<20%	15	$2,355,000	$157,000	$4,488	4.26%
39%	15	$3,405,000	$227,000	$6,824	4.64%
38%	15	$3,655,000	$243,667	$7,180	4.85%
44%	14	$3,880,000	$277,143	$6,422	4.54%
40%	14	$2,180,000	$155,714	$5,787	4.64%
43%	14	$2,850,000	$203,571	$5,554	4.54%
49%	14	$3,250,000	$232,143	$6,239	4.33%
45%	13	$3,405,000	$261,923	$8,660	4.61%
46%	12	$2,480,000	$206,667	$6,048	4.89%
36%	11	$2,545,000	$231,364	$6,828	4.75%
47%	8	$1,630,000	$203,750	$5,067	5.03%
48%	8	$2,120,000	$265,000	$7,754	4.88%

Fay Servicing lent most frequently to those with DTI ratios of 30-36%, with 54 originations. The next most common DTI ratio? 20-30%, with 45 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	337	$72,785,000	$215,979	$6,131	5.09%
Not applicable	162	$37,620,000	$232,222	$0	7.50%
Not provided	85	$18,185,000	$213,941	$8,421	6.20%
Black	95	$16,515,000	$173,842	$5,737	5.28%
Asian	21	$5,405,000	$257,381	$4,458	5.40%
American Indian	5	$865,000	$173,000	$10,337	6.21%
Native Hawaiian or Islander	1	$115,000	$115,000	$4,193	3.88%

Approval Rates

Total approvals of all applications
67.96%

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

Pick Rate

Approvals leading to origination
-204.53%

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
11086.33	1	$135,000	$135,000
NA	705	$151,355,000	$214,688

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	9	$4,145,000	$460,556
Single Family (1-4 Units):Site-Built	697	$147,345,000	$211,399

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	24	$4,610,000	$192,083	$5,301	5.20%
40-60%	106	$20,100,000	$189,623	$5,861	5.29%
60-80%	342	$71,440,000	$208,889	$6,413	5.87%
80-100%	163	$38,705,000	$237,454	$6,885	5.51%
Over 100%	40	$10,830,000	$270,750	$2,826	8.77%
Under 20%	3	$315,000	$105,000	$3,652	4.79%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
Fay Servicing, LLC	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	4	1.7%
Fay Servicing, LLC	Conventional home mortgage	Closing on a mortgage	7	2.9%
Fay Servicing, LLC	Conventional home mortgage	Incorrect information on your report	1	0.4%
Fay Servicing, LLC	Conventional home mortgage	Struggling to pay mortgage	121	50.8%
Fay Servicing, LLC	Conventional home mortgage	Trouble during payment process	69	29.0%
Fay Servicing, LLC	FHA mortgage	Struggling to pay mortgage	8	3.4%
Fay Servicing, LLC	FHA mortgage	Trouble during payment process	5	2.1%
Fay Servicing, LLC	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	0.4%
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	2	0.8%
Fay Servicing, LLC	Other type of mortgage	Struggling to pay mortgage	9	3.8%
Fay Servicing, LLC	Other type of mortgage	Trouble during payment process	8	3.4%