Fay Servicing has launched an REO division and has selected Glenn Brooks as senior vice president to lead the new business unit. In his role leading the REO division, Brooks will provide its strategic direction and manage relationships with attorneys, agents and vendors. The addition of this business line within Fay Servicing will enable the firm to design optimal resolution and marketing strategies in order to maximize returns on each asset. The services provided by the company’s REO division include: eviction attorney selection and oversight, access to a large preferred real estate agent network, “cash for keys” negotiations, pre-marketing strategies, contractor selection and project oversight, listing and marketing properties, offer and contract negotiations and title and closing coordination.
Brooks has more than 20 years in the real estate, mortgage servicing, REO management, asset disposition and lending industries. Before joining Fay Servicing, he served as vice president of Quantum Servicing, where he oversaw the bankruptcy, foreclosure, real-estate owned, property preservation and valuations departments. In addition, Brooks was AVP/manager of REO for Accredited Home Lenders, where he lead a team of asset managers across the country to determine market value and the best marketing strategies on REO properties, including reviewing and approving marketing plans, repairs, list prices and offers presented.
“Launching this division simply would not have happened if we had not found someone with such a strong background and compelling track record in the REO business,” said Ed Fay, chief executive officer of Fay Servicing. “We are very excited about Glenn joining the team and leading an important part of our platform as we offer additional products and services to our clients.”