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Corporate Overview

Fay Servicing, LLC (“Fay Servicing” or “FAY”) is a mortgage servicing firm that specializes in managing distressed and at-risk residential whole loans. FAY differentiates itself by leveraging its unique talent, model, and process to build uncommonly strong relationships with borrowers. The combination of this relationship-based servicing strategy and FAY’s philosophy of directly aligning interests with its clients results in a servicing platform focused on maximizing loan value.

Background & Brief Corporate History

  • Fay Servicing is a wholly owned subsidiary of parent firm Fay Financial, LLC; the companies were formed in early 2008 and are headquartered in Chicago, IL with an additional office in Oakbrook Terrace, IL
  • Diverse client base comprised of alternative asset managers and banking institutions
  • Over 100 full-time employees
  • DBRS Operational Assessment Result (Sept. 2012): Approved (with a hot backup) for rated securitizations
  • Licensed in all 50 states and D.C.; approved HAMP and Tier I FHA servicer
  • Technology partners for the servicing platform (LPS) as well as the investor portal and database management (Meridian Asset Services) are SAS70 compliant
Key Differentiators of FAY’s Relationship-Based Servicing Approach

Our Process
  • Complete borrower budget analysis to establish relationship and trust
  • Customize optimal plan and manage borrower through
Our Model “True SPOC”
  • Incentive-driven comp
  • Increased accountability
  • Simplified borrower engagement process
Our Talent
  • Combining deep origination intelligence and sales skills
  • Average 11 years of mortgage experience
Feedback from Phoenix Collateral Advisors upon completion of 2012 O.C.C. Consent Order Audit

“In the opinion of PCA [Phoenix Collateral Advisors], the Fay SPOC model is the closest thing that exists in the industry to meet the Single Point of Contact requirements established in the O.C.C./O.T.S. Consent Orders and the State (Attorney General) Settlement. Further, PCA believes that the Fay model is relatively unique in the servicing industry and one that other Servicers are struggling to emulate generally due to the size of their delinquent portfolios and an ingrained model that relies on specialized division of labor (i.e. customer service, collections, loss mit. etc.).”

Relationship-Based Servicing Drives Superior Results on both NPLs and “At-Risk” Performing Loans

Fay Servicing’s model has resulted in industry-leading performance results. The combination of FAY’s ability to effectively connect with borrowers, establish trust and repair credit as it designs and executes optimal resolutions plans has directly led to higher-yielding loans, lower re-default rates, and fewer foreclosures. Performance metrics are available upon request.

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