Chicago-based Fay Servicing launched an REO division, selecting Glenn Brooks as senior vice president to lead the new business unit.
The latest expansion will allow the company to design optimal resolution and marketing strategies in order to maximize on returns on each asset.
Features of the new unit include: providing eviction attorney selection and oversight, access to a large preferred real estate agent network, “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.
Meanwhile, Brooks will oversee its strategic direction and manage relationships with attorneys, agents and vendors.
“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,” Fay added.