Fay Servicing Reviews | Glassdoor

Fay Servicing Reviews

Updated May 1, 2019

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Found 119 reviews

3.0
StarStarStarStarStar
Rating TrendsRating Trends
46%
Recommend to a Friend
84%
Approve of CEO
Ed Fay
75 Ratings
Pros
  • "free lunch every month, birthday gift cards(in 15 reviews)

  • "Free gym membership, close to public transportation (HQ), end of the month lunch, great holiday parties(in 13 reviews)

Cons
  • "The company is growing so there are a lot of phone meetings in lieu of in-person meetings (location issues)(in 9 reviews)

  • "With any company that is expanding there are growing pains(in 5 reviews)

More Pros and Cons
  1. "Great fast paced environment!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Fay Servicing full-time for more than 3 years

    Pros

    Company wide commitment to charity, ambitious goals , strategic vision.

    Cons

    Some growing pains due to rapid growth, not the right fit for everyone.

    Advice to Management

    Continue to focus on cross department training , improving communication

    Fay Servicing2019-04-04

    Fay Servicing Response

    April 8, 2019CMO

    We appreciate you taking the time to write about some of the positive things you’ve experienced working at Fay for the past three years. Fay prides itself on being an organization dedicated giving back to others. Throughout the year our employees generously support underprivileged ...

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  2. Helpful (1)

    "High turn over for a reason"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Fay Servicing full-time for more than a year

    Pros

    Cheap Free lunch at the end of the month

    Cons

    Difference between an standard employee who doesn't try and someone who kicks butt will receive 1% difference in their raise. No promotional opportunities, if offered, are delayed Bottom tier compensation vs standards in the surrounding area No relaxation or hangout areas. Coffee machines have never been cleaned. Management is clearly making great money, consistently telling employees they are the most important part...

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    Advice to Management

    Change your review system and allocate money to your employees. You promise, never deliver and then burn out your employees.

    Fay Servicing2019-05-01

    Fay Servicing Response

    May 7, 2019CMO

    We’re sorry if you don’t feel you have been rewarded for your performance. Our merit-based system is designed to reward all employees who do their job. Those who do not meet performance goals see no increase in their compensation and those that meet or exceed expectations are ...

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  3. "Invasive"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at Fay Servicing full-time for more than 3 years

    Pros

    End of month lunch, flexible hours especially in the summer.

    Cons

    When it comes to choosing benefit packages we are treated like teenagers just entering the work place. They make you sit in a room with a stranger to pick your elections. I have never had this at any other company and find it very invasive, uncomfortable, and patronizing. How dumb do they think we are? I am perfectly capable of choosing my elections on my own.... and in privacy. Sure, have the resource there for those...

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    Advice to Management

    Treat grown adults like grown adults. Have resources available if some request it but don't force it on the rest of us.

    Fay Servicing2019-04-18
  4. "Gloomy, cold Warehouse environment"

    StarStarStarStarStar
    • Work/Life Balance
    Former Employee - Invoice Processor in Carrollton, TX
    Doesn't Recommend

    I worked at Fay Servicing full-time for more than a year

    Pros

    free lunch every month, birthday gift cards

    Cons

    Insurance cost over $300 a month just for one person, horrible desks , micromanage manager, low pay

    Advice to Management

    I liked my job, but not the horrible manager. She is very micromanage and controlling. I worked there one year too long.

    Fay Servicing2019-04-03

    Fay Servicing Response

    April 5, 2019CMO

    We understand the costs of health care are high, which is why we switched to a self-funded plan to help control rising costs for the company and our employees. We offer different programs at different price points so our employees have a choice in what they pay for insurance. We also ...

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  5. Helpful (2)

    "Good company bad managment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Foreclosure Specialist 
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Fay Servicing full-time for more than 3 years

    Pros

    Ed Fay is by far the best thing about this company.

    Cons

    He needs better management in place. They don't respect or help employees grow.

    Advice to Management

    It's a good company to start at buy unless management changes it will not be a place to stay at.

    Fay Servicing2019-02-06
  6. Helpful (1)

    "No recommendations"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend

    I worked at Fay Servicing full-time

    Pros

    Compensation and benefits are okay

    Cons

    Very unorganized. Need a better Management team and formal training.

    Fay Servicing2019-03-11
  7. Helpful (2)

    "Account Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Account Manager 
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Fay Servicing full-time for more than 5 years

    Pros

    We are allowed to be independent employees and not micro-managed. It is a Team-oriented company, the culture is coming along. It has the capability of being a great company. I was inspired by Ed Fay’s vision of the company when I started but over the years this vision has been lost. In their defense the training program has started to develop positively as they stated it would.

    Cons

    There are more than I can name and it took a really long time to write this review due to my respect for the company but!!! Pay - We have went through 3 compensation changes since I started which continuously decreases the ability for AM’s to maximize their potential. It was verbally expressed their would never be a limit on compensation but over the years it has been adjusted to limit the annual salary opposed...

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    Advice to Management

    Consider the lives of an Account Manager by considering the effects of your decisions. The pay is not competitive with the market and has an even higher disadvantage when faced with unforeseen pay schedule changes and constant compensation adjustments to decrease the annual salary. I’m sure there will be the perfect rebuttal to follow my concerns, but these are whole heartedly legitimate company issues that requires...

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    Fay Servicing2019-02-08

    Fay Servicing Response

    March 4, 2019CMO

    Thank you for your review and positive comments about our team-oriented culture and improvements to our training program. Our training is designed to give our employees the independence and skills to do their jobs efficiently and effectively. We understand that compensation is ...

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  8. Helpful (1)

    "Sucks. So much"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Carrollton, TX
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Fay Servicing for less than a year

    Pros

    Free lunch is really it

    Cons

    I work in customer service. The pay is awful. You’re micro managed. No over time. They are hiring for an outbound team that makes $2 more per hour but still expect us to make outbound calls for no incentive. Not what I was hired for. Was making only a $1 for every $1000 earned (bonus wise) that was cut to fifty cents. Oh. And you can’t move within the company for 6 months . Currently seeking new employment

    Advice to Management

    This is not a prison.

    Fay Servicing2019-02-20

    Fay Servicing Response

    March 4, 2019CMO

    Thank you for your feedback. In July 2019, we instituted a new compensation plan that actually added an incentive program for Customer Service Representatives for the first time to make compensation more competitive. In February 2019, adjustments that lowered one component of the ...

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  9. Helpful (1)

    "Okay Work place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Porcurement in Chicago, IL
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Fay Servicing full-time for more than 3 years

    Pros

    Free Lunch on month end Chrismas party

    Cons

    Low Pay for Tons of work

    Fay Servicing2018-12-27
  10. "n/a"

    StarStarStarStarStar
      Current Employee - Anonymous Employee 

      I have been working at Fay Servicing

      Pros

      have a friendly family atmosphere

      Cons

      none I can think of

      Advice to Management

      keep moving to the right direction

      Fay Servicing2018-12-20
    Found 119 reviews