Fay Servicing Announces Mortgage Lender Initiative

Fay Servicing announced the launch of an initiative to create strategic partnerships with mortgage lenders to help train origination staff for a career in the servicing industry. The program provides training to hone key skills such as managing initial calls with borrowers, refining listening skills, meeting all applicable compliance requirements and conducting a Personal Budget Analysis (PBA) for borrowers. Fay Servicing has developed an employment model that seeks professionals with extensive mortgage expertise combined with borrower engagement skills, enabling them to successfully work with distressed homeowners to avoid foreclosure. Relationships with lenders that are downsizing origination staff allow the company to attract the next generation of special servicers. “These strategic alliances with mortgage lenders provide a new career option for origination staff who are seeking positions in the servicing industry,” said Ed Fay, chief executive officer of Fay Servicing. “And act as a way for the mortgage industry to shift its collective resources to related sectors where there is substantial growth.”