Fay Servicing Reviews

Updated July 13, 2015
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3.0
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Ed Fay
4 Ratings

11 Employee Reviews

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  1. Loan servicing

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President
    Current Employee - Assistant Vice President

    I have been working at Fay Servicing

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Low stress environment and friendly atmosphere

    Cons

    Compensation does not compliment the work load


  2. Great place to work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL

    I have been working at Fay Servicing full-time (More than 3 years)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Free gym membership, free monthly lunches, great employee outings. Support of work and life. Good salary. Great support

    Cons

    Many changes in comp plan of AM, Lack of sharing information. Some employees make their own schedule which is not fair to others.

    Advice to Management

    Have bulletins go out more frequently and tell employees of office constructions and happenings. Dress code policy should be revisited. As long as we are doing our job it should not matter ( to a certain point) what we wear. The head of training should be more involved with originations and their training. Don't delegate so much. Account for employee absences for those employees that come in and leave as they please, making their own schedule. Also, don't allow employees to go to gym on company time. Many go to gym for an hour and still take their one hour lunch. We are loosing 5 hours a week of production due to this happening.


  3. Loan Servicing

    Current Employee - Account Manager in Chicago, IL
    Current Employee - Account Manager in Chicago, IL

    I have been working at Fay Servicing full-time (More than 5 years)

    Pros

    Great company to work for.

    Cons

    Compensation structure unclear and in flux.


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  5. Account Manager

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Account Manager in Chicago, IL
    Current Employee - Account Manager in Chicago, IL

    I have been working at Fay Servicing full-time (More than 3 years)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    free gym membership, better than average benefits package and great co-workers

    Cons

    Management from the top down is awful. The firm pretends to be something other than a call center but at the end of the day that's all it really amounts to. Lower level managers spend a lot of time micro-managing small inconsequential issues. Lots of employee turnover lately. They hired a bunch of people with lending experience due to the soft job market in 2010-14. Now many of those people are leaving to make more money elsewhere.

    Advice to Management

    Go back to the older management style. You will see more turnover in the coming months if not.


  6. Not the best

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Fay Servicing

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    The management seems to be enthusiastic about their job. Overall everyone is friendly.

    Cons

    Staff isn't compensated as well as they should be, something that isn't planned to change for a long time. A free gym membership and a lunch now and then doesn't make up for it. The company is growing too fast without the proper staff and resources. Seems to only be getting worse. The lower you are at the company the worse it is.

    Advice to Management

    Keep turnover low and pay those that do the most work and support the other teams. Give the opportunity for the chance to a new position.


  7. Account Manager

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Fay Servicing full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Steady income albeit lower than market rate

    Cons

    Moving target and fire drills cause undo stress.

    Advice to Management

    Don't use your people to define process. Define the process and then roll out to the people.


  8. Account Manager

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Fay Servicing

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Good comradery with pleasant work environment, free gym membership, and monthly free lunches

    Cons

    Number of hours, stress level, constantly changing compensation structure leading to lack of stability, devalued employees after hiring overqualified candidates, leading to under-employment. Often felt that managers were not advocates of their team, by siding against them

    Advice to Management

    Improve morale with better leadership/encouragement.


  9. Great workplace

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Fay Servicing full-time (More than a year)

    Positive Outlook
    No opinion of CEO
    Positive Outlook
    No opinion of CEO

    Pros

    Interview are easy. Its a good work environment and the managers are approachable, feels like family. You will get some of your questions answers.

    Cons

    The salary does not reflect the average nationwide pay scale. Get ready to get underpaid.

    Advice to Management

    Need to revise the salary of your employees


  10. You'll love working here

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Loan Consultant/Account Manager
    Current Employee - Home Loan Consultant/Account Manager

    I have been working at Fay Servicing full-time (Less than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    This company's culture is one any employee could appreciate. Great group of E-suite professionals. There are often small perks like paid lunches and team outings that promote cohesiveness and build strong professional lines of communications.

    Cons

    Small firm so paid time off and 401k matching have room for growth. Though I have no doubt as this company experiences growth, these things will improve slowly but surely


  11. Growing Company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Home Loan Consultant/Account Manager in Chicago, IL
    Former Employee - Home Loan Consultant/Account Manager in Chicago, IL

    I worked at Fay Servicing full-time (More than a year)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Growing company. Strong Vision. An industry leader in the mortgage servicing field.

    Cons

    Slightly disorganized. Meritocracy is not always the reason someone is promoted. No synergy between departments, you work with in your department the whole time.

    Advice to Management

    Allow for employees to give their ideas to help grow the company



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