Ed Fay

innovations and entrepreneurial ideas that can drive our day-to-day performance and growth, but always with an eye to what it drives in value for our organization, our clients or, most importantly, to our customers.” The company’s position has propelled it to design products, pricing, and servicing to help close the wealth gap for minorities through homeownership.

next 10 years would decrease the racial wealth gap by almost $250 billion in just one generation.”

Most servicers aren’t set up to manage customers in distress, instead focusing on the accounts of the masses. Fay has poised his organization to remain smaller, so it has the ability to pivot quickly and focus on the segment that needs the most care – individuals who are struggling with their mortgages.

“Our team understands that we don’t service loans; we serve people just like them,” he says. “This has allowed us to help tens of thousands of customers remedy what’s probably the most difficult financial situation in their lives and to remain homeowners.”

“We need to continue educating prospective homeowners about rentversus-buy and why buying might be a great option for them to create generational wealth,” Fay says. “An increase in minority homeownership of just 833 families a month for the

“As a special servicer, Ed and the company are proud of their industryleading results in taking loans in foreclosure and getting customers out of foreclosure while growing a stable and profitable non-default servicing business,” says Thomas Bowman, vice president, corporate communications at Fay Servicing, who nominated Fay.