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SYS-CON MEDIA Authors: Liz McMillan, Pat Romanski, Elizabeth White, Wade Williamson, Lori MacVittie

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Fay Servicing Launches Mortgage Origination Division; Selects Steve Szpytek as President of Originations

Fay Servicing, a special servicer that manages residential mortgages throughout the United States, announced it has created a mortgage origination division, which will focus on retail and correspondent loans, and has selected Steve Szpytek as president of originations to lead the division.

Szpytek has more than 25 years in the mortgage and financial services industry. He has previously held executive positions at numerous mortgage companies including director of strategic planning at Performance Home Loans, COO and director of lending at Elderlife Financial Services, COO and chief lending officer at ECC Capital Corporation/Encore Credit and EVP and chief credit officer at New Century Mortgage.

At Fay Servicing, Szpytek’s initial focus is developing the mortgage origination division by creating a retail sales and operations platform, which will establish call centers and a network of retail branches. The division will also work with lenders establishing correspondent relationships with Fay Servicing.

“Steve’s experience in the financial services industry will enable Fay Servicing to successfully build out our origination division, a very complementary business line and key step in becoming a more diversified mortgage company that is well-positioned for long-term growth,” said Ed Fay, chief executive officer of Fay Servicing. “His impressive track record for launching origination platforms as well as his proven ability to design and execute new lending strategies and programs make him an integral part of our team here at Fay Servicing.”

About Fay Servicing

Chicago, Ill.-based Fay Servicing is a diversified mortgage company which leverages its relationship-based servicing platform to optimize performance of residential loan portfolios. For more information, please visit www.fayservicing.com.

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