Fay Servicing Reviews | Glassdoor

Fay Servicing Reviews

Updated February 23, 2017
53 reviews

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Full-time Part-time

3.2
Star Star Star Star Star
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Ed Fay
31 Ratings

53 Employee Reviews

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Pros
  • Gym membership, great co-workers, lunches for employees (in 10 reviews)

  • It's a great growing company with great leadership and vision (in 5 reviews)

Cons
More Pros and Cons

  1. Helpful (5)

    "Account Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Account Manager in Dallas, TX
    Former Employee - Account Manager in Dallas, TX
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Friendly coworkers, awesome holiday party, small holiday bonus, good location for office. Company is small but growing fast. Lots of room for growth and promotion.

    Cons

    Horrific smell in current building that comes and goes. No one can find the source. They are supposed to move to a different building which will stop it, but currently impossible to work while the smell is there.
    Coworkers immature, constant blatent sexual references while working.
    The base pay is very low, pay structure is incentive based but actual monthly payout seems less than promised.

    Advice to Management

    Follow through on your policies for Sexual Harassment.
    Pay a better wage to get better talent for your managers.
    Increase the base pay for your Account Managers. Too much variance in monthly pay.

    Fay Servicing Response

    Feb 1, 2017 – EVP, Human Resources

    Thank you for your comments and as for the smell in the office, we are pressing the building management hard to correct the situation. We will not stand for waiting until the move so that the problem ... More


  2. "Account Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Account Manager in Oakbrook Terrace, IL
    Current Employee - Account Manager in Oakbrook Terrace, IL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Potential to make good money, they are growing rapidly, opportunities to make management is good.

    Cons

    Their computer systems need help. There is too much to learn and little time to learn it. They promote a "sales" environment but it looks more like a collection job and you are constantly monitored for mistakes and your pay is docked for them.

    Advice to Management

    Need managers with real management skills, not people with the best collection or operational skills.

    Fay Servicing Response

    Feb 10, 2017 – EVP, Human Resources

    We appreciate your comments and as time goes on you will gain in your understanding and appreciation of the company. You are so correct in that mistakes are constantly monitored but it is important ... More


  3. "Leadership"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Carrollton, TX
    Current Employee - Anonymous Employee in Carrollton, TX
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    free lunches birthday perks top dog recognition

    Cons

    Management leadership style, figure it out or be fired. Bully style, no problem calling you out in front of your team. Very stressful

    Advice to Management

    It would be nice to hear what you are doing well and use coaching opportunities to work on areas that need improvement.

    Fay Servicing Response

    Feb 10, 2017 – EVP, Human Resources

    We appreciate your thoughts. It is imperative to hear from you regarding the perception that this type of "leadership style" is taking place. It is not appropriate and needs to be investigated with ... More


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  5. Helpful (1)

    "If you have the time.."

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

    I worked at Fay Servicing full-time (More than 3 years)

    Pros

    I put a lot of thought into this review and I want to give my fair opinion for others looking to work here. I will start by admitting I was let go from my position, month before I had advised my manager I was leaving. I believe I was let go unfairly and would have liked to leave on better terms but we we'll set that aside. Do I regret my time at Fay Servicing, absolutely not! I was one of the lucky chosen few who came in with very little experience. I poured my blood, sweat and tears into this place and did exceptionally well for a majority of my time there. I learned a tremendous amount of information and this place has definitely paved the way for my future. I'm forever grateful for that opportunity. I have made friends at this place, that have turned into family! The feeling of helping others is the most rewarding!!! You can really make a difference in some people's lives here! In December approaching a year since I've been gone from Fay, I had an old borrower reach out to me on LinkedIn and offer me a gift card for Christmas as a show of appreciation for helping him feel heard in one of the hardest years of his life! And every Christmas I still place on my tree an ornament one of my borrowers kids made me at summer camp. Truely touching experiences that have impacted my life and filled my heart with so much love and hope for humanity. I often think about some of my borrowers and how they are doing now!

    Cons

    Do I miss working there? Not really. I felt like I had outgrown my position and was ready for advancement two years in and even with all the growth and positions that became available, I was not advancing. I seeked advise several times with management on why I wasn't moving up and what I could do to get there with little to vague responses. I feel like maybe I spoke up to much on the issues that needed work at the company. I later changed my approach and introduced methods to try and help these issues the best to my ability. Most of them I felt were ignored, and some not ignored went no where and other times changes were made but with no recognition but at least there were some changes. That obviously caused some frustrations in me with the company between year two and three which I was open and honest about. I was meticulous in my Stat record keeping so it was easier for me to point out the changes from pay to loan pipeline amount and where changes were deteriorating easier than others could explain. The company is growing at the fastest rate I have ever experienced at any other job. Work load is heavy! There are a lot exceptional employees there, so competition is tough. You want to work here you must be adaptable to change, hungry and ready to work your ... off!! The hardest for me was seeing how the company was when I started to where it was when I left. Yes the company is growing but it has not benefited the employees pay wise. Every single year I was there the commission was changed. Some years more than once rather you agreed or not. At the end I was working double the pipeline for more than half to half the pay. I would say an average to above average employee now makes between 2-3,500 monthly give or take a few some months, you know commission. If that's what your looking for, this is the place. I personally believe the employees deserve better for the work load. I am not a fan of the commission plan that was in place when I left which I believed has not changed since then. It was dependent on other departments doing their jobs and modifications and documents just weren't sent out fast enough often times with errors which delayed the process even more MONTHS! The mod department needs help. Escrow has made a huge improvement during my time there. I was also frustrated with the short sale/ DIL dept for more reasons than one. All departments that affected my pay! I could probably list to you literally 100 or more ways in which your commission can be cutt! Everything down to every second of your time there is closely monitored and tracked! I didn't realize how stressed out I was until I was gone from there. Even on my most stressful day now does not compare to the stress and pressure I had adapted to there. I def believe there's a "boy's club" but that's most corporate America for you, although no excuse at all! I have referred friends there that came from lower paid positions that are happy there, I have friends I made there that are advancing, I have friends there that are desperately seeking new employment and other miserably comfortable there, if that makes sense. In almost every company there are bad apples, here too, unfortunately some in upper management and H.R. As well as some outstanding ones i feel need more recognition. I like the Managers that at the end of the day stick up for their people not throw them under the bus when issues arise. Unfortunately, I experienced some of that here. As well as the opposite. I unfortantly think some of the bad apples are so set they'll be there for a long time! It's supposed to be a single point of contact there for borrowers but one of the biggest complaints I heard from borrowers is that their loans gets switched around so much from Account manager to AM. I enjoyed the reward of being able a year or two later see my borrower still keeping up with their budget and current. You establish this relationship/ partnership and it's just easier to keep them current once that trust and base is there . They get transferred out so much now as early as six months current. I also don't agree with the distribution of loans. Sat down once and had a manager show me how they decided who gets what and how many...it's ridiculous. Thats my opinion. H.R employees changed almost every year from the point it started to when I left and I only delbt with them twice first time pleasant last time not so much, lol. They need to find a way to make the employees feel heard, PROTECTED, and be able to trust going to H.R.

    Advice to Management

    I wrote you an essay above. Knock yourself out! It's been one hell of a ride, thank you! Best wishes.

    Fay Servicing Response

    Feb 10, 2017 – EVP, Human Resources

    Well, thank you. This was almost like reading your journal but all of your comments were enlightening. I am sorry that in the long run it did not work out for you but from your opening comments I was ... More


  6. Helpful (1)

    "Account Manager"

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

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

    Pros

    Free Lunch at end of month

    Cons

    HR does not have your back and neither does management. Numerous comp changes that are never as advertised.

    Advice to Management

    Get new management and offer a better work/life balance

    Fay Servicing Response

    Feb 24, 2017 – EVP, Human Resources

    We are always looking for suggestions to make better our working environment and if any employee has an idea of how we can improve, we are always willing to listen. Not having your back is an ... More


  7. Helpful (2)

    "Horrible"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Escrow Specialist in Carrollton, TX
    Former Employee - Escrow Specialist in Carrollton, TX
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Free monthly lunch, birthday celebration, gym membership, and some friendly employees

    Cons

    Unfair treatment, favoritism, hostile work environment, and lack of respect from management

    Advice to Management

    Listen to your employees concerns

    Fay Servicing Response

    Feb 20, 2017 – EVP, Human Resources

    We always hate to see this type of review and wish that we could hear from you directly to find out more about your "Cons". Without getting into detail in this forum, please contact the EVP of Human ... More


  8. "Growing pains"

    Star Star Star Star Star
    • 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
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Lots of energy, lots of chances to shine, always something to do, chances to really help people in need

    Cons

    Company is new and growing. The infrastructure is weak. Not much time off. Lots of good directives and ideas but everything is going so fast nothing is ever built, tested, and ready to go in terms of procedures for delivery of product and internal initiatives.

    Advice to Management

    Slow down and build better internal policies.

    Fay Servicing Response

    Jan 9, 2017 – EVP, Human Resources

    We certainly appreciate the comments and observations and with any growing body, some parts grow faster than others, hence the growing pains. We will continue to need the help of each and every ... More


  9. Helpful (1)

    "Good company to work for but lacks professionalism"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Recommends
    Negative Outlook
    Approves of CEO

    I worked at Fay Servicing full-time

    Pros

    The company likes to promote from within, there are growing opportunities.
    Good benefits and pay if you negotiate well.
    Fay is also growing which means more opportunities.

    Cons

    - Hiring Managers prefer hiring their friends, which can be beneficial but also a downfall when someone with better qualifications and experience is set aside. You might have to deal with someone who is incompetent at their job just because they are well liked. If you are their supervisor, they may act entitled, something I have experienced.

    - There is a lot of miscommunication across the board, it's hard to get a direct answer that will stick when you are trying to accomplish a task. Which means your task can change regularly depending on who you are talking to.

    - HR is also very unprofessional, the lot lack experience and respect for employees. Their room is visible through glass, there is also no door which violates confidentiality. Whenever you ask them any questions, they respond rudely and hastily.
    I have had terrible experience with an employee there, they have yelled at me and other employees in the past in front of the entire office or through email just for asking a question. They even went as far as contacting their manager to complain...about us asking them questions. I've also heard them complain about "lazy millennials" to coworkers, without any regard to the hard working younger people in his department or sitting just outside. It's not a safe space.

    Advice to Management

    Improve HR professionalism, stop hiring friends/family, respect policies & confidentiality, create better communication between employees and managers,

    Fay Servicing Response

    Jan 23, 2017 – EVP, Human Resources

    There are times when employee referrals are valuable since most would not want to refer to the company someone they feel will not work well in the job or culture. Seeing that you "worked" at Fay ... More


  10. Helpful (1)

    "Processor"

    Star Star Star Star Star
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook

    I worked at Fay Servicing full-time

    Pros

    perks from CEO,Early release for holidays

    Cons

    manually work, poor training and lack of support from management

    Fay Servicing Response

    Dec 28, 2016 – EVP, Human Resources

    Sound like this is after the fact and we hate to see someone leave frustrated without giving us the chance to look into these frustrations. I certainly would like to know what you mean by "manual ... More


  11. "Customer Service Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service, Account Manager in Chicago, IL
    Former Employee - Customer Service, Account Manager in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Fun company to work for, many benefits. Pay scale used to be great including bonuses based on production.

    Cons

    Very corporate atmosphere. Pay scale changed for bonuses and became very difficult to earn anywhere close to what we used to earn

    Advice to Management

    Relax the corporate atmosphere somewhat. Make it less rigid

    Fay Servicing Response

    Dec 12, 2016 – EVP, Human Resources

    Sounds like it is believed that we raised the bar a little too much on the bonus structure. We need to constantly take a look at our compensation structure to be sure that the opportunity to earn is ... More



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