July 26, 2014 1:27 PM ET

Thrifts and Mortgage Finance

Company Overview of Fay Servicing, LLC

Company Overview

Fay Servicing, LLC operates as a specialty mortgage debt management company. It provides servicing solutions for performing and non-performing mortgages. The company was founded in 2008 and is based in Springfield, Illinois. Fay Servicing, LLC operates as a subsidiary of Fay Financial, LLC.

901 South 2nd Street

Suite 201

Springfield, IL 62704

United States

Founded in 2008

Phone:

312-780-0444

Key Executives for Fay Servicing, LLC

Chief Executive Officer
Co-Founder
Chief Operating Officer
President of Originations
Age: 49
Chief Compliance Officer
Compensation as of Fiscal Year 2014.

Fay Servicing, LLC Key Developments

Fay Servicing Launches REO Division; Names Glenn Brooks as SVP to Lead New Business Unit

Fay Servicing has launched an REO division. 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. The company 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. 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.

Fay Servicing Launches Mortgage Origination Division; Appoints Steve Szpytek as President of Originations to Lead Mortgage Origination Division

Fay Servicing announced it has created a mortgage origination division, which will focus on retail and correspondent loans. The division will also work with lenders establishing correspondent relationships with Fay Servicing. The company also announced that it has selected Steve Szpytek as president of originations to lead the division. Szpytek has more than 25 years in the mortgage and financial services industry. He has previously held executive positions at numerous mortgage companies including director of strategic planning at Performance Home Loans, COO and director of lending at Elderlife Financial Services, COO and chief lending officer at ECC Capital Corporation/Encore Credit and EVP and chief credit officer at New Century Mortgage.

Fay Servicing Selects Nancy Barthel as Senior Vice President of Operational Risk

Fay Servicing announced the addition of Nancy Barthel to its executive team as the company's senior vice president of operational risk, where her role is to develop and strengthen the servicer's QA/QC programs and manage risk across the organization. Nancy Barthel is a Certified Mortgage Banker (CMB) and Lean Six Sigma Black Belt with more than 30 years of experience in the financial services industry. Prior to joining Fay Servicing, she served as the president of her own consulting firm, where she restructured operations, integrated technology and implemented regulatory compliance programs for large banks, mortgage lenders and mortgage technology firms to optimize efficiency and manage audit/compliance risk.

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