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 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: Phoenix, Riverside, San Diego, Portland, and Los Angeles among others. We have data for 141 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 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






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

560

Origination Dollar Volume (All Markets)

$153,400,000

Awards

FAY SERVICING FHA 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
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 82 $29,970,000 $365,488 $0 6.08%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 38 $11,610,000 $305,526 $5,551 6.31%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 14 $10,370,000 $740,714 $0 4.67%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 13 $6,965,000 $535,769 $15,593 6.27%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 11 $6,465,000 $587,727 $14,004 6.09%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 11 $5,515,000 $501,364 $12,146 5.99%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 31 $5,345,000 $172,419 $5,953 6.71%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $5,005,000 $5,005,000 $0 4.63%
FRESNO, CA (FHA|USDA|VA) 17 $4,245,000 $249,706 $0 6.66%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 14 $3,430,000 $245,000 $7,336 5.34%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 14 $3,160,000 $225,714 $6,495 4.13%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 11 $2,815,000 $255,909 $7,154 5.06%
RICHMOND, VA (FHA|USDA|VA) 12 $2,780,000 $231,667 $6,173 6.16%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 10 $2,720,000 $272,000 $7,450 4.91%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 15 $2,695,000 $179,667 $6,627 4.43%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 14 $2,550,000 $182,143 $7,032 4.96%
TUCSON, AZ (FHA|USDA|VA) 7 $2,465,000 $352,143 $0 6.70%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 10 $1,890,000 $189,000 $7,018 4.58%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 10 $1,810,000 $181,000 $8,092 4.55%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $1,595,000 $531,667 $0 7.21%
Outside of Metro Areas 11 $1,545,000 $140,455 $4,874 5.52%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $1,485,000 $165,000 $6,254 5.26%
SALEM, OR (FHA|USDA|VA) 4 $1,330,000 $332,500 $0 7.69%
BAKERSFIELD, CA (FHA|USDA|VA) 5 $1,175,000 $235,000 $0 6.30%
PITTSBURGH, PA (FHA|USDA|VA) 4 $1,140,000 $285,000 $12,187 5.88%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 7 $1,115,000 $159,286 $3,830 6.54%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 6 $980,000 $163,333 $5,705 4.63%
EL CENTRO, CA (FHA|USDA|VA) 3 $975,000 $325,000 $0 4.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $960,000 $160,000 $7,380 4.52%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 6 $910,000 $151,667 $7,706 6.60%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $810,000 $405,000 $10,898 5.13%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $760,000 $380,000 $13,823 4.19%
VALLEJO, CA (FHA|USDA|VA) 2 $740,000 $370,000 $6,227 4.44%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 5 $735,000 $147,000 $5,643 5.20%
ALBANY-LEBANON, OR (FHA|USDA|VA) 3 $725,000 $241,667 $0 6.46%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $700,000 $350,000 $10,582 4.69%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 6 $680,000 $113,333 $7,884 5.85%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $640,000 $160,000 $5,199 5.13%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $635,000 $635,000 $0 6.63%
Okeechobee, FL (FHA|USDA|VA) 2 $630,000 $315,000 $0 6.75%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $620,000 $310,000 $10,430 4.25%
TULSA, OK (FHA|USDA|VA) 3 $585,000 $195,000 $5,628 4.63%
KNOXVILLE, TN (FHA|USDA|VA) 2 $570,000 $285,000 $9,441 4.88%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 3 $535,000 $178,333 $0 7.75%
LYNCHBURG, VA (FHA|USDA|VA) 3 $525,000 $175,000 $0 7.04%
REDDING, CA (FHA|USDA|VA) 1 $505,000 $505,000 $0 6.75%
Roseburg, OR (FHA|USDA|VA) 2 $480,000 $240,000 $0 5.69%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $480,000 $240,000 $7,908 5.69%
Key West, FL (FHA|USDA|VA) 1 $465,000 $465,000 $0 6.25%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $455,000 $455,000 $10,039 5.38%
COLUMBUS, OH (FHA|USDA|VA) 3 $435,000 $145,000 $5,278 6.13%
AKRON, OH (FHA|USDA|VA) 4 $360,000 $90,000 $0 5.81%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $340,000 $170,000 $6,041 4.19%
STOCKTON, CA (FHA|USDA|VA) 3 $335,000 $111,667 $3,728 4.71%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $325,000 $325,000 $0 7.13%
MADERA, CA (FHA|USDA|VA) 1 $325,000 $325,000 $0 5.00%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $320,000 $160,000 $5,463 4.50%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $320,000 $160,000 $5,255 5.00%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $315,000 $315,000 $0 8.49%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $310,000 $155,000 $6,042 4.63%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $290,000 $145,000 $4,649 6.75%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $285,000 $285,000 $4,624 4.75%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $285,000 $285,000 $5,065 5.38%
Danville, VA (FHA|USDA|VA) 2 $280,000 $140,000 $6,857 6.31%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $275,000 $91,667 $3,852 5.17%
VISALIA, CA (FHA|USDA|VA) 2 $270,000 $135,000 $0 5.94%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 2 $270,000 $135,000 $7,909 5.56%
READING, PA (FHA|USDA|VA) 2 $260,000 $130,000 $4,424 4.75%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $9,436 4.00%
SALINAS, CA (FHA|USDA|VA) 1 $255,000 $255,000 $7,685 3.38%
FLINT, MI (FHA|USDA|VA) 1 $255,000 $255,000 $0 7.13%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $245,000 $245,000 $5,710 4.75%
KINGSTON, NY (FHA|USDA|VA) 1 $245,000 $245,000 $0 6.75%
Albertville, AL (FHA|USDA|VA) 1 $245,000 $245,000 $12,465 3.63%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $235,000 $235,000 $0 6.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $235,000 $235,000 $4,842 3.38%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $235,000 $235,000 $10,280 3.75%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $215,000 $215,000 $5,370 4.88%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $215,000 $215,000 $9,243 5.75%
LANCASTER, PA (FHA|USDA|VA) 1 $205,000 $205,000 $13,117 5.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.75%
SAVANNAH, GA (FHA|USDA|VA) 2 $200,000 $100,000 $6,244 5.25%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $195,000 $195,000 $0 5.63%
Richmond-Berea, KY (FHA|USDA|VA) 1 $185,000 $185,000 $9,003 4.00%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $0 6.75%
YUBA CITY, CA (FHA|USDA|VA) 1 $185,000 $185,000 $6,224 6.13%
BILLINGS, MT (FHA|USDA|VA) 1 $175,000 $175,000 $0 8.00%
MERCED, CA (FHA|USDA|VA) 1 $175,000 $175,000 $0 5.38%
Freeport, IL (FHA|USDA|VA) 1 $175,000 $175,000 $0 6.38%
Mount Pleasant, TX (FHA|USDA|VA) 1 $165,000 $165,000 $10,446 4.50%
Coos Bay, OR (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.38%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $165,000 $165,000 $4,278 3.25%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $165,000 $165,000 $4,133 3.25%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $165,000 $165,000 $7,319 3.88%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $155,000 $155,000 $7,174 5.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 6.13%
Boone, NC (FHA|USDA|VA) 1 $155,000 $155,000 $7,254 4.13%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $155,000 $155,000 $4,156 5.75%
APPLETON, WI (FHA|USDA|VA) 1 $145,000 $145,000 $9,475 4.88%
MODESTO, CA (FHA|USDA|VA) 1 $145,000 $145,000 $5,005 3.50%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $145,000 $145,000 $6,783 5.00%
SAGINAW, MI (FHA|USDA|VA) 2 $140,000 $70,000 $0 7.31%
Austin, MN (FHA|USDA|VA) 2 $140,000 $70,000 $3,017 4.31%
SPARTANBURG, SC (FHA|USDA|VA) 1 $135,000 $135,000 $6,569 5.25%
Wauchula, FL (FHA|USDA|VA) 1 $135,000 $135,000 $4,143 4.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $135,000 $135,000 $4,013 3.38%
HATTIESBURG, MS (FHA|USDA|VA) 1 $135,000 $135,000 $4,431 4.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.25%
BELLINGHAM, WA (FHA|USDA|VA) 1 $135,000 $135,000 $5,082 2.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $135,000 $135,000 $0 4.75%
Torrington, CT (FHA|USDA|VA) 1 $135,000 $135,000 $0 8.25%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $135,000 $135,000 $8,033 3.00%
AMES, IA (FHA|USDA|VA) 1 $125,000 $125,000 $8,307 4.88%
Angola, IN (FHA|USDA|VA) 1 $115,000 $115,000 $2,434 3.88%
Defiance, OH (FHA|USDA|VA) 1 $115,000 $115,000 $4,935 4.50%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $115,000 $115,000 $0 11.49%
LOUISVILLE, KY (FHA|USDA|VA) 1 $115,000 $115,000 $2,479 4.63%
Willmar, MN (FHA|USDA|VA) 1 $105,000 $105,000 $2,859 2.88%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $105,000 $105,000 $6,765 3.38%
Logansport, IN (FHA|USDA|VA) 1 $105,000 $105,000 $4,660 5.50%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $105,000 $105,000 $5,074 4.50%
CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.00%
BURLINGTON, NC (FHA|USDA|VA) 1 $105,000 $105,000 $5,853 5.00%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $105,000 $105,000 $3,732 3.25%
Frankfort, KY (FHA|USDA|VA) 1 $95,000 $95,000 $3,392 4.88%
Lewisburg, PA (FHA|USDA|VA) 1 $95,000 $95,000 $3,134 4.13%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $95,000 $95,000 $3,768 4.38%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $95,000 $95,000 $4,433 3.38%
ROANOKE, VA (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.38%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.75%
LaGrange, GA-AL (FHA|USDA|VA) 1 $85,000 $85,000 $5,153 4.63%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $85,000 $85,000 $3,564 3.38%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.25%
Martinsville, VA (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.13%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.75%
GADSDEN, AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.75%
Bellefontaine, OH (FHA|USDA|VA) 1 $65,000 $65,000 $4,570 5.63%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $55,000 $55,000 $3,760 4.50%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.63%
Lumberton, NC (FHA|USDA|VA) 1 $55,000 $55,000 $5,535 5.13%
LONGVIEW, TX (FHA|USDA|VA) 1 $45,000 $45,000 $2,099 3.38%
Fay Servicing's top markets include Phoenix, Riverside, San Diego, Portland, and Los Angeles among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 492 $139,850,000 $284,248 $5,662 5.78%
    FHA 68 $13,550,000 $199,265 $9,291 4.69%

    For 2022, Fay Servicing's most frequently originated type of loan was Conventional, with 492 originations. Their 2nd most popular type was FHA, with 68 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 352 $97,010,000 $275,597 $7,032 5.63%
    Refi 137 $36,425,000 $265,876 $5,127 5.48%
    Home Purchase 71 $19,965,000 $281,197 $8,366 6.05%

    For 2022, Fay Servicing's most frequently cited loan purpose was Cash Out Refi, with 352 originations. The 2nd most popular reason was Refi, with 137 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 488 $141,380,000 $289,713 $7,453 5.81%
    15 Year 48 $7,380,000 $153,750 $5,022 4.03%
    1 Year 7 $2,225,000 $317,857 $0 8.50%
    20 Year 7 $1,055,000 $150,714 $5,505 4.55%
    10 Year 5 $665,000 $133,000 $4,348 3.40%
    Other 5 $695,000 $139,000 $3,962 5.05%

    For 2022, Fay Servicing's most frequently cited loan duration was 30 Year, with 488 originations. The 2nd most popular length was 15 Year, with 48 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 54 $8,380,000 $155,185
    $2k-3k 46 $7,080,000 $153,913
    $3k-4k 42 $8,100,000 $192,857
    $5k+ 34 $10,730,000 $315,588
    $4k-5k 17 $3,705,000 $217,941
    $<1k 8 $1,290,000 $161,250

    Fay Servicing's average total fees were $7,453, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 54 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 138 $40,900,000 $296,377
    5-6% 134 $32,420,000 $241,940
    4-5% 103 $30,815,000 $299,175
    3-4% 88 $22,290,000 $253,295
    7-8% 61 $19,555,000 $320,574
    Over 8% 23 $4,955,000 $215,435
    2.5-3% 12 $2,220,000 $185,000
    <2.5% 1 $245,000 $245,000

    During 2022, Fay Servicing's average interest rate for loans was 5.81%, while their most frequently originated rate bucket for loans was 6-7%, with 138 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 221 $33,385,000 $151,063 $5,678 5.42%
    $200k-400k 205 $58,255,000 $284,171 $8,583 5.77%
    $100,000 or less 52 $3,930,000 $75,577 $4,293 5.72%
    $400k-600k 45 $21,785,000 $484,111 $11,001 5.86%
    $600k-1MM 29 $22,155,000 $763,966 $10,676 5.93%
    $1MM+ 8 $13,890,000 $1,736,250 $0 5.78%

    2022 saw Fay Servicing place emphasis on $100k-200k loans with 221 originations, totaling $33,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 110 $23,760,000 $216,000 $5,555 5.38%
    $50k-75k 69 $11,945,000 $173,116 $6,217 4.75%
    $75k-100k 47 $8,575,000 $182,447 $6,744 4.55%
    $100k-150k 42 $10,100,000 $240,476 $7,456 4.50%
    $150k-250k 17 $5,195,000 $305,588 $10,357 4.60%
    $250k+ 7 $2,815,000 $402,143 $6,929 5.29%

    Fay Servicing lent most frequently to those with incomes in the $50k or less range, with 110 originations. The second most popular income band? $50k-75k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 82 $14,600,000 $178,049 $6,231 4.37%
    20-30% 58 $10,890,000 $187,759 $6,483 4.39%
    30-36% 29 $5,995,000 $206,724 $7,559 4.86%
    41% 4 $860,000 $215,000 $9,834 4.75%
    36% 4 $1,050,000 $262,500 $6,797 4.47%
    43% 4 $1,070,000 $267,500 $5,559 4.56%
    38% 3 $795,000 $265,000 $7,329 4.21%
    40% 2 $510,000 $255,000 $8,905 5.13%
    37% 2 $200,000 $100,000 $6,100 5.19%
    44% 2 $520,000 $260,000 $6,071 3.56%
    46% 2 $460,000 $230,000 $4,445 5.00%
    48% 2 $720,000 $360,000 $12,559 6.75%
    49% 2 $390,000 $195,000 $6,361 3.75%
    39% 2 $570,000 $285,000 $9,104 4.25%
    50-60% 1 $195,000 $195,000 $7,681 5.75%
    47% 1 $215,000 $215,000 $6,577 5.63%
    42% 1 $245,000 $245,000 $12,217 3.75%

    Fay Servicing lent most frequently to those with DTI ratios of <20%, with 82 originations. The next most common DTI ratio? 20-30%, with 58 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 268 $91,010,000 $339,590 $0 6.43%
    White 144 $30,810,000 $213,958 $6,624 4.85%
    Not provided 84 $19,010,000 $226,310 $6,555 4.95%
    Black 54 $9,760,000 $180,741 $7,201 5.06%
    Asian 8 $2,310,000 $288,750 $9,003 4.89%
    American Indian 2 $500,000 $250,000 $5,196 5.38%

    Approval Rates

    Total approvals of all applications
    82.73%

    Fay Servicing has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    17.32%

    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 560 $153,400,000 $273,929

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    560 $153,400,000 $273,929

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $2,980,000 $149,000 $4,551 4.54%
    40-60% 113 $28,155,000 $249,159 $6,128 5.07%
    60-80% 360 $101,670,000 $282,417 $6,771 5.89%
    80-100% 62 $19,380,000 $312,581 $8,606 5.43%
    Over 100% 4 $1,100,000 $275,000 $0 8.12%
    Under 20% 1 $115,000 $115,000 $0 7.38%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Fay Servicing, LLC Conventional home mortgage Incorrect information on your report 1 25.0%
    Fay Servicing, LLC Conventional home mortgage Struggling to pay mortgage 1 25.0%
    Fay Servicing, LLC Conventional home mortgage Trouble during payment process 1 25.0%
    Fay Servicing, LLC FHA mortgage Trouble during payment process 1 25.0%