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Fay Servicing Opens REO Division

Fay Servicing, a Chicago based diversified mortgage company, announced intentions to expand its portfolio by launching an REO division. Glenn Brooks has been selected to head up the new department, serving as SVP. In that role, Brooks will provide strategic direction and manage outside relationships vital the division’s success.

Brooks is a 20-year veteran of the real estate, mortgage servicing, REO management, asset disposition and lending industries, including stays at Quantum Servicing and Accredited Home Lenders.

The new division purports to offer a sizable slate of REO related services including eviction attorney selection and oversight, "cash for keys" negotiations, pre-marketing strategies, contractor selection and project oversight, listing and marketing properties, offer and contract negotiations and title and closing coordination.

"Launching this division simply would not have happened if we had not found someone with such a strong background and compelling track record in the REO business," said Ed Fay, CEO of Fay Servicing. "We are very excited about Glenn joining the team and leading an important part of our platform as we offer additional products and services to our clients."

About Author: Derek Templeton

Derek Templeton is an attorney based in Dallas, Texas. He practices in the areas of real estate, financial services, and general corporate transactional law. His experience includes time as an Attorney Adviser for the U.S. Small Business Administration and as General Counsel for a nonprofit organization in Dallas. A self-avowed "policy junkie," he has a keen interest in the effect that evolving federal policy has on the mortgage, default servicing, and greater housing industries.
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