Fay Servicing "growing pains" Reviews | Glassdoor

Fay Servicing Employee Reviews about "growing pains"

Updated Jul 8, 2019

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Found 123 reviews

2.8
StarStarStarStarStar
Rating TrendsRating Trends
40%
Recommend to a Friend
77%
Approve of CEO
Ed Fay
78 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

Reviews about "growing pains"

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  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)

    "I must say that I enjoy being a part of the team."

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

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

    Pros

    Opportunity to be part of a growing company where you can see the differences your efforts and hard work make, while also being recognized for those efforts. Leaders willing to listen to ideas/concerns and make changes that benefit employees and customers. Employees are encouraged to be a part of the solution. Customers are happy with the level of service provided: sister-in-law was sad when her loan transferred to...

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    Cons

    Growing pains, but some of the same "pains" encountered at other mortgage servicers that are much larger and have been in business for many more years than Fay.

    Advice to Management

    Let every successful moment encourage you to be better leaders and not-so-good experiences teach you to take better paths.

    Fay Servicing2017-12-15
  3. Helpful (8)

    "Negative Business Outlook in the Near Future"

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

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

    Pros

    Most of the people in your department should be friendly and helpful. There are more than likely a few inside your group as well as outside of your department that will be hard to work with. This may have an impact on your work. If you are new to the industry or have a bit of experience you could land a role that would help build your experience, you *might* learn something. There are little perks like other have mentioned...

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    Cons

    Isn’t the point of Glassdoor to provide feedback voice opinions, offer suggestions and ideas, along with reviews of a company? … I digress. In my opinion the open door policy is ineffective, as half the higher ups would see it as an annoyance if an employee provided feedback. Coming from a mortgage background it is my opinion that Fay has broken processes and a lackluster business plan to generate revenue. They...

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    Advice to Management

    Honestly you will have to find a solution to these perceived problems. Why should I try and fix the company? Seems to me there has been plenty of feedback from those on the lower rungs. Start with those suggestions on how to improve. Feel free to write off the trend of negative reviews and the growing discontent from employees as nothing. I’m sure a project will be attempted to fix the issue and will successfully...

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    Fay Servicing2016-06-01

    Fay Servicing Response

    June 10, 2016EVP, Human Resources

    Given the level of frustration that is evident here, we strongly encourage the writer to try the open door policy first. We are also positive that none of the ""higher ups" will look at your opinion as an annoyance at all.

  4. "Good to Great"

    StarStarStarStarStar
    • Career Opportunities
    • Compensation and Benefits
    Current Employee - Anonymous Employee 

    I have been working at Fay Servicing full-time

    Pros

    The company rewards performance with compensation and opportunities for promotion. With the host of variables affecting loan volume (rates, home values, compliance, decreasing refi potential, etc), leaving the originations world was an easy decision once I reviewed the opportunities at Fay.

    Cons

    The company has grown rapidly over the past several years. With growth, comes growing pains. The company is committed to investing in all of the departments that support account management.

    Advice to Management

    The 401k company contribution is an opportunity for improvement. Create a recognition program for top performers with a significant reward like a vacation.

    Fay Servicing2016-05-01

    Fay Servicing Response

    June 10, 2016EVP, Human Resources

    We thank you for your continued support and understanding. Yes, with growth comes some pains but with everyone's help , those pains are certainly tolerable.

  5. "Great company to grow with!!!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Assistant Vice President 
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Fay is a growing company with unlimited potential. Great individuals to work with & everyday is a pleasure to come to work.

    Cons

    With any company that is expanding there are growing pains. Obviously with growing pains brings discontent & potentially trust issues between management & employees. Fay is continuing to work towards models that will taper these feelings; however, these processes do take time.

    Advice to Management

    Continue to improve on the processes that have been implemented. Be transparent with the employees to continue to show them we are in this together & the family atmosphere that was paramount when the company was small is still there as we continue to expand.

    Fay Servicing2016-04-28
Found 123 reviews