Fay Servicing Mortgage Rates, Fees & Info

DOVER, DE

LEI: 549300D0H09HSURFXA20

Tax ID: 41-2277737

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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: Chicago, Los Angeles, New York, Miami, and Dallas among others. We have data for 137 markets. (Some data included below & more in-depth data is available with an active subscription.)

Fay Servicing has an 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 a low 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 about average 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

493

Origination Dollar Volume (All Markets)

$102,505,000

Awards

FAY SERVICING FHA Loans gold FAY SERVICING 30 Year Conventional Loans silver FAY SERVICING FHA Loans gold FAY SERVICING 30 Year Conventional Loans gold
Show all (4) 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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 51 $10,645,000 $208,725 $3,838 3.45%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 17 $6,825,000 $401,471 $5,798 4.46%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 21 $5,695,000 $271,190 $7,052 5.30%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 22 $5,150,000 $234,091 $3,905 4.07%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 19 $3,705,000 $195,000 $3,009 4.59%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 12 $3,260,000 $271,667 $5,004 3.38%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 15 $3,155,000 $210,333 $5,271 4.61%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 18 $3,000,000 $166,667 $3,489 3.85%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 10 $2,910,000 $291,000 $6,503 4.86%
JACKSONVILLE, FL (FHA|USDA|VA) 11 $2,265,000 $205,909 $4,198 6.36%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 9 $2,205,000 $245,000 $5,169 6.33%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 4 $2,190,000 $547,500 $5,942 2.97%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 9 $2,095,000 $232,778 $4,289 3.93%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $2,025,000 $225,000 $4,115 3.39%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 14 $1,970,000 $140,714 $4,217 5.73%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 4 $1,830,000 $457,500 $0 5.99%
Outside of Metro Areas 12 $1,810,000 $150,833 $4,944 4.99%
RICHMOND, VA (FHA|USDA|VA) 11 $1,535,000 $139,545 $6,145 5.80%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 4 $1,400,000 $350,000 $4,419 5.47%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $1,355,000 $150,556 $3,315 3.90%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 6 $1,220,000 $203,333 $4,936 4.18%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,185,000 $395,000 $6,036 3.37%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 4 $1,130,000 $282,500 $4,311 4.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 7 $1,115,000 $159,286 $3,643 3.88%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 4 $1,110,000 $277,500 $3,720 5.57%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,085,000 $361,667 $3,850 3.08%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $1,025,000 $341,667 $13,974 3.63%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 8 $980,000 $122,500 $4,325 4.46%
VALLEJO, CA (FHA|USDA|VA) 2 $930,000 $465,000 $7,566 4.06%
TUCSON, AZ (FHA|USDA|VA) 5 $895,000 $179,000 $0 6.91%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 5 $845,000 $169,000 $2,837 3.45%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 5 $835,000 $167,000 $2,904 3.63%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 3 $815,000 $271,667 $5,538 4.83%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $785,000 $157,000 $3,794 3.45%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 4 $770,000 $192,500 $3,734 4.16%
STOCKTON, CA (FHA|USDA|VA) 2 $770,000 $385,000 $2,914 5.63%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $740,000 $370,000 $15,862 3.75%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $710,000 $355,000 $4,972 3.56%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $680,000 $170,000 $5,585 4.06%
COLUMBUS, OH (FHA|USDA|VA) 4 $650,000 $162,500 $4,050 4.82%
PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $640,000 $160,000 $4,128 3.56%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $610,000 $152,500 $2,790 4.96%
ST. LOUIS, MO-IL (FHA|USDA|VA) 4 $530,000 $132,500 $3,812 3.63%
YUBA CITY, CA (FHA|USDA|VA) 1 $475,000 $475,000 $14,476 3.88%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $465,000 $465,000 $3,788 2.63%
COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $440,000 $220,000 $3,544 4.78%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 5 $415,000 $83,000 $3,421 7.30%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $380,000 $190,000 $1,693 3.63%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $380,000 $190,000 $3,617 3.13%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $370,000 $185,000 $5,753 3.63%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $350,000 $175,000 $9,707 4.79%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $335,000 $335,000 $0 6.50%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $335,000 $335,000 $0 6.38%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $320,000 $160,000 $3,635 3.50%
LOUISVILLE, KY (FHA|USDA|VA) 3 $315,000 $105,000 $3,311 3.71%
ROANOKE, VA (FHA|USDA|VA) 2 $310,000 $155,000 $2,971 3.69%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $305,000 $305,000 $3,665 3.50%
Show Low, AZ (FHA|USDA|VA) 1 $295,000 $295,000 $0 8.49%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $285,000 $285,000 $4,967 3.75%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $275,000 $275,000 $4,867 3.50%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $275,000 $275,000 $3,613 2.75%
Ukiah, CA (FHA|USDA|VA) 1 $265,000 $265,000 $3,794 3.75%
Crescent City, CA (FHA|USDA|VA) 1 $265,000 $265,000 $0 6.55%
VISALIA, CA (FHA|USDA|VA) 1 $265,000 $265,000 $8,073 3.50%
MONTGOMERY, AL (FHA|USDA|VA) 1 $265,000 $265,000 $2,723 3.13%
Searcy, AR (FHA|USDA|VA) 2 $260,000 $130,000 $2,803 3.56%
Silver City, NM (FHA|USDA|VA) 2 $260,000 $130,000 $0 6.43%
TOLEDO, OH (FHA|USDA|VA) 2 $260,000 $130,000 $2,888 3.19%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $250,000 $125,000 $2,908 3.19%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $245,000 $245,000 $6,717 3.50%
MANHATTAN, KS (FHA|USDA|VA) 1 $235,000 $235,000 $0 3.75%
RENO, NV (FHA|USDA|VA) 1 $235,000 $235,000 $6,981 3.63%
DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $230,000 $115,000 $1,896 3.38%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $230,000 $115,000 $0 4.93%
LONGVIEW, TX (FHA|USDA|VA) 1 $225,000 $225,000 $6,148 3.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $215,000 $215,000 $2,657 3.13%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $205,000 $68,333 $3,087 6.21%
TULSA, OK (FHA|USDA|VA) 2 $200,000 $100,000 $5,103 4.13%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $190,000 $95,000 $1,126 6.69%
YAKIMA, WA (FHA|USDA|VA) 1 $185,000 $185,000 $2,916 3.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $180,000 $90,000 $2,480 3.56%
CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $175,000 $175,000 $4,078 2.63%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $165,000 $165,000 $7,591 3.75%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $165,000 $165,000 $2,871 3.75%
Ottawa, IL (FHA|USDA|VA) 2 $160,000 $80,000 $1,512 3.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $155,000 $155,000 $2,576 3.75%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $155,000 $155,000 $2,067 3.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $155,000 $155,000 $2,453 3.50%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $155,000 $155,000 $5,811 3.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,437 3.75%
Bellefontaine, OH (FHA|USDA|VA) 1 $145,000 $145,000 $6,075 4.13%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $145,000 $145,000 $2,487 3.75%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $145,000 $145,000 $5,640 3.50%
COLUMBIA, SC (FHA|USDA|VA) 1 $145,000 $145,000 $2,146 3.75%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $135,000 $135,000 $2,995 3.75%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $135,000 $135,000 $5,587 3.75%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $135,000 $135,000 $5,689 3.50%
Albemarle, NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 4.75%
BLOOMINGTON, IL (FHA|USDA|VA) 1 $135,000 $135,000 $976 3.75%
Quincy, IL-MO (FHA|USDA|VA) 1 $135,000 $135,000 $1,047 3.75%
KNOXVILLE, TN (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.75%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.63%
Gaffney, SC (FHA|USDA|VA) 1 $125,000 $125,000 $1,152 3.75%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $125,000 $125,000 $2,315 3.50%
Enterprise, AL (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.13%
GREEN BAY, WI (FHA|USDA|VA) 1 $125,000 $125,000 $3,161 3.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $125,000 $125,000 $4,495 2.50%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $115,000 $115,000 $1,499 3.75%
GAINESVILLE, FL (FHA|USDA|VA) 1 $115,000 $115,000 $1,923 3.50%
Coshocton, OH (FHA|USDA|VA) 1 $115,000 $115,000 $5,717 3.50%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $115,000 $115,000 $2,790 2.75%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $115,000 $115,000 $8,067 4.13%
Opelousas, LA (FHA|USDA|VA) 1 $105,000 $105,000 $2,001 3.75%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $105,000 $105,000 $1,587 3.75%
READING, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,888 3.50%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $105,000 $105,000 $2,170 3.75%
SPARTANBURG, SC (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.75%
Sikeston, MO (FHA|USDA|VA) 1 $105,000 $105,000 $1,486 3.75%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $95,000 $95,000 $5,115 3.88%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $95,000 $95,000 $4,940 3.50%
EL PASO, TX (FHA|USDA|VA) 1 $95,000 $95,000 $3,281 3.00%
Mount Airy, NC (FHA|USDA|VA) 1 $95,000 $95,000 $1,939 3.75%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $95,000 $95,000 $5,107 3.63%
BATON ROUGE, LA (FHA|USDA|VA) 1 $95,000 $95,000 $1,310 3.75%
Mount Vernon, IL (FHA|USDA|VA) 1 $95,000 $95,000 $2,864 2.88%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.88%
DULUTH, MN-WI (FHA|USDA|VA) 1 $85,000 $85,000 $4,005 5.13%
Del Rio, TX (FHA|USDA|VA) 1 $85,000 $85,000 $1,231 3.75%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $75,000 $75,000 $2,953 3.13%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $75,000 $75,000 $3,275 3.00%
LYNCHBURG, VA (FHA|USDA|VA) 1 $75,000 $75,000 $1,194 3.75%
AMARILLO, TX (FHA|USDA|VA) 1 $65,000 $65,000 $3,171 3.00%
Adrian, MI (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.75%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.48%
Pottsville, PA (FHA|USDA|VA) 1 $65,000 $65,000 $3,821 2.75%
Mount Pleasant, TX (FHA|USDA|VA) 1 $65,000 $65,000 $3,621 3.50%
DOTHAN, AL (FHA|USDA|VA) 1 $55,000 $55,000 $3,018 2.63%
Fay Servicing's top markets include Chicago, Los Angeles, New York, Miami, and Dallas among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 328 $70,820,000 $215,915 $4,129 4.62%
    FHA 163 $30,725,000 $188,497 $4,357 3.81%
    VA 2 $960,000 $480,000 $16,718 3.75%

    For 2020, Fay Servicing's most frequently originated type of loan was Conventional, with 328 originations. Their 2nd most popular type was FHA, with 163 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 287 $57,805,000 $201,411 $3,683 3.81%
    Cash Out Refi 158 $32,860,000 $207,975 $5,695 4.92%
    Home Purchase 48 $11,840,000 $246,667 $5,472 5.64%

    For 2020, Fay Servicing's most frequently cited loan purpose was Refi, with 287 originations. The 2nd most popular reason was Cash Out Refi, with 158 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 369 $79,465,000 $215,352 $4,577 4.49%
    15 Year 57 $9,775,000 $171,491 $3,822 3.19%
    Other 36 $7,580,000 $210,556 $3,200 4.90%
    20 Year 18 $3,640,000 $202,222 $4,279 3.40%
    10 Year 7 $625,000 $89,286 $2,962 3.05%
    1 Year 5 $1,355,000 $271,000 $0 7.97%
    30+ year 1 $65,000 $65,000 $0 6.75%

    For 2020, Fay Servicing's most frequently cited loan duration was 30 Year, with 369 originations. The 2nd most popular length was 15 Year, with 57 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 154 $30,900,000 $200,649
    $<1k 126 $23,060,000 $183,016
    $2k-3k 33 $6,245,000 $189,242
    $3k-4k 21 $4,675,000 $222,619
    $5k+ 15 $5,495,000 $366,333
    $4k-5k 10 $2,430,000 $243,000

    Fay Servicing's average total fees were $4,577, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 154 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 233 $46,655,000 $200,236
    2.5-3% 80 $17,700,000 $221,250
    6-7% 58 $10,910,000 $188,103
    5-6% 42 $9,010,000 $214,524
    4-5% 35 $8,065,000 $230,429
    7-8% 22 $5,160,000 $234,545
    Over 8% 13 $3,075,000 $236,538
    <2.5% 10 $1,930,000 $193,000

    During 2020, Fay Servicing's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 3-4%, with 233 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 200 $28,840,000 $144,200 $3,543 4.32%
    $200k-400k 172 $45,790,000 $266,221 $4,895 4.23%
    $100,000 or less 78 $6,040,000 $77,436 $2,884 4.54%
    $400k-600k 37 $17,405,000 $470,405 $7,685 4.48%
    $600k-1MM 6 $4,430,000 $738,333 $18,626 5.08%

    2020 saw Fay Servicing place emphasis on $100k-200k loans with 200 originations, totaling $28,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 111 $18,565,000 $167,252 $3,754 4.42%
    $100k-150k 63 $17,185,000 $272,778 $6,062 3.36%
    $50k-75k 56 $9,470,000 $169,107 $4,140 3.35%
    $75k-100k 43 $8,635,000 $200,814 $4,868 3.45%
    $150k-250k 23 $7,025,000 $305,435 $4,817 3.17%
    $250k+ 5 $1,725,000 $345,000 $4,198 3.38%

    Fay Servicing lent most frequently to those with incomes in the $50k or less range, with 111 originations. The second most popular income band? $100k-150k, with 63 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 55 $10,675,000 $194,091 $4,544 3.35%
    30-36% 45 $10,195,000 $226,556 $4,561 3.42%
    <20% 19 $3,475,000 $182,895 $4,145 3.30%
    42% 16 $2,940,000 $183,750 $3,529 3.28%
    39% 11 $2,845,000 $258,636 $5,150 3.28%
    36% 10 $1,870,000 $187,000 $4,668 3.43%
    43% 10 $2,230,000 $223,000 $4,308 3.55%
    41% 9 $1,905,000 $211,667 $4,348 3.42%
    50-60% 8 $1,820,000 $227,500 $8,871 4.00%
    44% 7 $1,945,000 $277,857 $5,615 3.54%
    46% 6 $1,800,000 $300,000 $7,133 3.44%
    45% 6 $1,770,000 $295,000 $10,818 3.46%
    38% 6 $1,210,000 $201,667 $4,073 2.92%
    47% 5 $885,000 $177,000 $3,622 3.18%
    37% 5 $895,000 $179,000 $3,652 3.05%
    40% 5 $955,000 $191,000 $5,610 3.25%
    49% 3 $1,095,000 $365,000 $5,235 3.42%
    48% 3 $515,000 $171,667 $5,713 3.63%

    Fay Servicing lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 266 $54,910,000 $206,429 $4,291 3.66%
    Not applicable 106 $23,560,000 $222,264 $0 6.54%
    Black 69 $12,015,000 $174,130 $4,060 3.58%
    Not provided 40 $8,190,000 $204,750 $4,876 4.66%
    Asian 10 $3,090,000 $309,000 $3,714 3.66%
    Native Hawaiian or Islander 1 $505,000 $505,000 $12,603 3.13%
    American Indian 1 $235,000 $235,000 $4,645 2.88%

    Approval Rates

    Total approvals of all applications
    70.02%

    Fay Servicing has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    -35.50%

    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 493 $102,505,000 $207,921

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,255,000 $418,333
    Single Family (1-4 Units):Manufactured 1 $105,000 $105,000
    Single Family (1-4 Units):Site-Built 489 $101,145,000 $206,840

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $3,345,000 $223,000 $3,398 3.64%
    40-60% 92 $19,660,000 $213,696 $3,983 3.96%
    60-80% 220 $44,270,000 $201,227 $4,810 4.74%
    80-100% 127 $28,565,000 $224,921 $4,533 3.86%
    Over 100% 9 $2,185,000 $242,778 $0 8.38%
    Under 20% 2 $120,000 $60,000 $3,440 4.94%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Fay Servicing, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 3.4%
    Fay Servicing, LLC Conventional home mortgage Closing on a mortgage 4 1.4%
    Fay Servicing, LLC Conventional home mortgage Incorrect information on your report 2 0.7%
    Fay Servicing, LLC Conventional home mortgage Struggling to pay mortgage 131 44.4%
    Fay Servicing, LLC Conventional home mortgage Trouble during payment process 111 37.6%
    Fay Servicing, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.3%
    Fay Servicing, LLC FHA mortgage Struggling to pay mortgage 5 1.7%
    Fay Servicing, LLC FHA mortgage Trouble during payment process 8 2.7%
    Fay Servicing, LLC Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 0.3%
    Fay Servicing, LLC Home equity loan or line of credit (HELOC) Trouble during payment process 5 1.7%
    Fay Servicing, LLC Other type of mortgage Closing on a mortgage 1 0.3%
    Fay Servicing, LLC Other type of mortgage Incorrect information on your report 1 0.3%
    Fay Servicing, LLC Other type of mortgage Struggling to pay mortgage 5 1.7%
    Fay Servicing, LLC Other type of mortgage Trouble during payment process 8 2.7%
    Fay Servicing, LLC Reverse mortgage Trouble during payment process 1 0.3%
    Fay Servicing, LLC VA mortgage Closing on a mortgage 1 0.3%