Fay Servicing Embarks in Hiring Spree of Originators

Fay Servicing, a special servicer that manages distressed and high default risk residential mortgage loans, is seeking to hire experienced mortgage professionals living in the greater Chicago area.

The servicer’s outreach effort, however, may confuse job seekers who may not know Fay executives are looking for people with mortgage origination experience.

Chief executive officer Ed Fay says he values candidates “with a deep” background in mortgage origination, “because they typically have a powerful combination of mortgage intelligence and interpersonal skills necessary to connect with distressed borrowers.”

In line with renewed industry wide appetite to hire Fay has grown dramatically during 2012. In the first quarter of 2013 the special servicer opened its second office in Oakbrook Terrace, Ill., and has gradually increased the total number of employees to 100.

The new effort to attract experienced mortgage originators is growing organically alongside increasing demand for outsourcing executives said leading to further growth expectations.

Fay is now seeking to hire new employees in accordance with plans to double the number of employees to 200 by the end of this year.

The staffing model has been persistent and according to Fay will continue to be the same referral oriented selection process it has always been. To Fay it means attracting mortgage professionals typically from large, prominent lenders located within the Chicago area.