Fay Servicing at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the D grade breaks down
Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
1st57.0% deniedPricingmedian rate spread over APOR, weight 30%
45th0.31 ptsProcesswithdrawn + incomplete share, weight 15%
0th54.8%Closing coststotal loan costs ÷ loan amount, weight 10%
18th3.06% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 217 | 146 | 4.2% | 4.6% | 8.06% | $42M |
| 2024 | 210 | 164 | 4.3% | 4.6% | 7.68% | $46M |
| 2025 | 613 | 102 | 25.8% | 57.0% | 6.88% | $30M |
What Fay Servicing lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 133 investment properties.
Why Fay Servicing denies applications
Primary reason reported for each of the 158 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Fay Servicing
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 101 | 9 | 82.0% |
| $50k – $100k | 148 | 20 | 69.2% |
| $100k – $150k | 92 | 20 | 45.0% |
| $150k – $250k | 81 | 6 | 65.0% |
| Over $250k | 128 | 8 | 60.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 39 | 5 | 44.4% |
| 35–44 | 88 | 12 | 61.8% |
| 45–54 | 140 | 19 | 65.1% |
| 55–64 | 160 | 21 | 66.2% |
| 65–74 | 106 | 12 | 70.2% |
| Over 74 | 31 | 2 | 77.8% |
Where Fay Servicing lends
34 states and 308 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 102 | 17 | 16.7% | 7.41% | #438 |
| Florida | 90 | 7 | 31.1% | 6.50% | #503 |
| Texas | 70 | 8 | 32.9% | 6.75% | #636 |
| Virginia | 54 | 28 | 25.9% | 7.43% | #367 |
| Illinois | 39 | 8 | 20.5% | 6.56% | #497 |
| Georgia | 34 | 5 | 35.3% | 6.25% | #508 |
| North Carolina | 22 | 4 | 22.7% | 6.44% | #517 |
| Indiana | 19 | 2 | 31.6% | 6.25% | #468 |
| Pennsylvania | 18 | 3 | 22.2% | 6.25% | #616 |
| Tennessee | 18 | 0 | 27.8% | — | #551 |
| New Jersey | 17 | 2 | 11.8% | 7.69% | #469 |
| Ohio | 13 | 5 | 23.1% | 6.75% | #581 |
| Louisiana | 12 | 0 | 41.7% | — | #360 |
| Michigan | 12 | 3 | 41.7% | 6.75% | #500 |
| Alabama | 10 | 2 | 20.0% | 6.44% | #484 |
| Maryland | 10 | 0 | 60.0% | — | #474 |
| South Carolina | 10 | 0 | 0.0% | — | #531 |
| Minnesota | 8 | 2 | 0.0% | 6.37% | #500 |
| Colorado | 7 | 2 | 14.3% | 6.50% | #553 |
| Missouri | 7 | 0 | 14.3% | — | #543 |
| Arkansas | 6 | 0 | 0.0% | — | #381 |
| Kansas | 6 | 0 | 50.0% | — | #401 |
| Kentucky | 5 | 2 | 20.0% | 6.81% | #491 |
Frequently asked questions
Fay Servicing denied 57.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 1st percentile of small mortgage lenders.
The most common reason Fay Servicing gave in 2025 was "debt-to-income ratio", cited on 48.7% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Fay Servicing originated in 2025 was 6.88%, and its median rate spread over the average prime offer rate was 0.31 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 5% of its applications were for home purchases, 95% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 82% conventional, 16% FHA, 2% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.