Following continuous growth of staff and operations
The Chicago-based special servicer manages distressed and at-risk residential mortgages and will also help new staff to leverage previous loan origination experience and knowledge and skills working in the mortgage servicing space.
Given Fay’s strategy of hiring only experienced professionals as the company expanded during the past several years, CEO Ed Fay says, Fay’s employees have previous experience in the mortgage industry. It means training will consist of brushing up “the necessary skills that will make them special servicing experts.”
The training will be conducted at Fay’s corporate headquarters in Chicago.
More specifically the training will concentrate efforts on a variety of key skills, such as managing the initial call with borrowers, refining listening skills, meeting all applicable compliance requirements and conducting a Personal Budget Analysis that helps to engage borrowers in the mortgage workout.
Training will focus on more advanced distressed mortgage servicing skills, in small class settings conducted by new account managers who have already successfully completed the transition from originator to servicer.
