Fay Servicing, LLC Employee Reviews

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Fay servicing
Liquidation Team Lead (Former Employee) –  Chicago, ILOctober 19, 2019
They will cap your comp no matter what you do. If you complain about comp then they will first ignore you then they will ask you to do more to earn more. Then when you do, they cap your comp by giving your good files to underperforming coworkers to even everyone out and short change you.
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Run
Not Relevant (Former Employee) –  Dallas, TXAugust 22, 2019
Fay's culture is that everybody is a manager regardless of experience. There are people in leadership positions that have no clue as to what they're doing and are completely unqualified for the role. The "Good Ole Boys" club is alive and well here. If you don't need to work here, don't. Don't expect to be fairly compensated.
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Lots of pressure with little guidance
Account Manager (Former Employee) –  Chicago, ILJuly 25, 2019
Company is not pro active toward future objectives. Some of the activities skirt legality and morality very closely. Management are "number people" and have little or no "people management" skills. You really need to watch your back there!! Good Luck!!
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Overworked and Under Paid
Sr. Underwriter (Current Employee) –  Carrollton, TXJuly 18, 2019
There is no team environment in the office. No assistance from management when dealing with issues. Unrealistic production goals with out of date technology. Processes and procedures are not efficient.
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3.0
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The human resources department was very involved and provided employee of the month recognition awards.
Asset Disposition Specialist (Former Employee) –  Chicago, ILJuly 17, 2019
Company provided in-building gym membership which was great. However my daily duties included presenting short sale offers to investors and most of the time the buyers offered too little for the properties or the investors wanted too much which prevented the deals from closing. That was frustrating!
Pros
End of the month lunches!
Cons
not enough paid time to complete your daily responsabilities.
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4.0
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Good place to work they buy pizza they take care of the guys
Cement Mason Journeyman (Former Employee) –  Pittsburgh, PAJune 23, 2019
Good place to work they buy pizza they take care of the guys As long as you’re doing your work and you’re not standing around talking on your phone basically bullshitting is a no though doing your work is priority and you are appreciated for your good work
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5.0
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Fay Servicing, LLC
Foreclosure Specialist/Document Specialist (Current Employee) –  Carrollton, TXJune 6, 2019
Fay is a good company to work for they are located in Farmersbranch, Tx. The work hours are flexible and good. Management is good as well.............
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3.0
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Gloomy cold Warehouse
Invoice Processor (Former Employee) –  Carrollton, TXApril 28, 2019
Work surroundings was a gloomy warehouse type of environment, constantly 20 degrees inside, hundreds of empty cubicles, there were two people on my row and rest of the 30 cubicles empty., not very inviting., Free lunches every month, company events every so often. Manager was difficult to work with, very micromanage. I wish i never worked there. Insurance extremely expensive.
Pros
Free lunches
Cons
difficult micromanage manager
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Lack of training
Default Servicing - Loss Mitigation Underwriter (Former Employee) –  Carrollton, TXApril 16, 2019
My experience working at Fay Servicing was not what I expected, there was no training, lack of guidance, and management was never available. There were no sense of structure and management had no accountability when issue have been approached. Doesn’t matter what your experience and/or knowledge you had in the past, it would be disregarded at this company.

I am dumb founded with management whom been in the industry for years can conduct process which are not common practices and agrees with upper management just to CYA, even if it means to put all the blame on the employee that was not at fault. Company always talks about having an open door policy, but when you attempt to talk to someone about any issue, the door is slammed in your face, and it gets worse the higher up you go.
Pros
month end lunch and Gym membership
Cons
High medical cost
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Not a happy place at all
Worker (Current Employee) –  Carrollton, TXApril 8, 2019
Management was very poor. They have nothing in place to allow workers to go UP in the company. You can move parallel all you want but going UP is impossible. Ed Fay needs to revamp his whole management team as well as HR. All they are worried about is their money. They try to make you put your job before your family to pay you nothing at all. They need a culture at Fay in order to survive in this market. If you make your place a happy and safe environment for your workers they will give you the same in return not just those end of the month cold or nasty meals they give just to make you work on the clock more.
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Bad Experience
Modification Processor (Former Employee) –  Chicago, ILMarch 22, 2019
Horrible Management, Nepotism and low low pay.

I would avoid this place unless you are very desperate.

The turnover here is very very high. No one stays long term, except the managers.
Pros
Free end of month lunches and gym membership
Cons
Everything, low pay, horrible managers, no retirement plan
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Highly micro managed environment
Account Manager (Former Employee) –  Chicago, ILMarch 13, 2019
Every call you make is recorded. ALL mistakes cost you bonus money. Management is NOT trained for people management, only numbers management. Staff is not happy with changes made and lack of staff to handle incoming call volume.
Pros
Compensation as it was initally
Cons
overwhelming call volume
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3.0
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Changes
Closer/ Post Closer/Funder (Current Employee) –  Oakbrook Terrace, ILFebruary 9, 2019
Current position being move out of state for a lower salary employee. You put in the additional hours monthly. But, when you have a need to be off it is allow. Your left with the feeling that you have imposed on their needs. Uncomfortable environment.
Pros
Free lunch at end of month, health insurance is cheaper
Cons
Not appreciated
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Average
CA Branch Production Manager (Former Employee) –  Chicago, ILFebruary 2, 2019
Average and great down town location but traveling was extensive. Management layers prevented many decisions due to lack of urgency and conflicting interests that manifested many delays in execution of objectives.
Pros
Good leads and production staff
Cons
Average
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Long way to get to acceptable...
VP of Servicing (Former Employee) –  Chicago, ILJanuary 12, 2019
Disorganized chaos from production level up. Lot's of bus drivers and definitely has an inner and outer circle. Not any one person understands or knows the operation from end to end and some don't care or are not deterred by regulation.
Pros
Industry, ability to learn unique skills/regulation concepts, business exposure, diverse ideas/concepts due to structure and niche industry.
Cons
Bus drivers, disregard for regulatory breaks, segmented and no one person knows the whole business end to end.
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3.0
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Stressed and distressed
Account Manager (Former Employee) –  Chicago, ILDecember 19, 2018
Not enough compensation for this stressful environment. Bankruptcy and delinquency are not a good mix. This charged environment produces very upset borrowers.
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4.0
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A typical day at work
Sr.Account Manager (Current Employee) –  Chicago, ILDecember 6, 2018
A typical day at work starts with examination of the work load and team meetings once a day. Files being assigned and reviews.
Management does not have all the tools needed to pass down to the employees at the start of the work day. Managers spend to much time chasing materials.
The culture is very comfortable.
The hardest part of the job is some times getting the client on the phone and having enough work to do and dealing with low commissions..
The most enjoyable part of the job is the people who work there.
Pros
Managers are concerned about their employees
Cons
Not enough work at times and empty promises.
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2.0
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Management is terrible
Account Manager (Former Employee) –  Oakbrook Terrace, ILNovember 28, 2018
my Experience with Fay started off rocky. The training was a joke, the trainer did not take it serious. The management is not the greatest. I can only say maybe a few knew about the mortgage industry completely, but some managers needed assistance from the account managers. The pay is extremely low, and the benefits were too high for the low wage that is paid.
Pros
Gym membership
Cons
Low salary, bad management
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5.0
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Excellent experience
Account Manager (Former Employee) –  Carrollton, TXSeptember 18, 2018
I was there since the Dallas Office’s opening and was instrumental in its growth. They provided challenging yet nurturing growth and it was an honor working there.
Pros
Lunches at month end -Good work/life balance
Cons
None I can think of
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Poor middle management, no training, expected to do everything
Supervisor (Former Employee) –  Tampa, FLSeptember 7, 2018
While at Fay, I was provided with little to no training but still expected to do the work. This placed additional stress on me and when I approached Sr Management about the issue, I was then told to set up daily meetings so that they could provide feedback my workload. Now remember, I know how to manage my workload, it was the training and the lack of support from my current manager that was lacking.

Do not work at this place....way to stressful and horrible benefits.
Pros
A few good people
Cons
No training or support from management
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Overall rating

2.7
Based on 46 reviews
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2.8Work/Life Balance
2.4Compensation/Benefits
2.2Job Security/Advancement
2.2Management
2.6Culture