Fay Servicing Promotes Norton to President of Loan Originations; Reed to SVP of Account Management Fay Servicing, Chicago, appointed Patrick Norton as the new president of its origination division, Fay Mortgage Services and Greg Reed to replace him as senior vice president of account management.

CHICAGO-(BUSINESS WIRE)-Fay Servicing, a residential mortgage special servicer and originator, has selected Patrick Norton as the new president of its origination division, Fay Mortgage Services (Freddie Mac, Ginnie Mae/FHA approved lender), and Greg Reed to replace him as senior vice president of account management.

Fay Servicing, a residential mortgage special servicer and originator, announced the promotion of Patrick Norton to president of loan.

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Residential mortgage special servicer and originator Fay Servicing has named Patrick Norton its new president of loan originations and promoted Greg Reed to senior vice president of account management.

However, this glum news may have a silver lining, according to at least one industry executive. "There’s a huge opportunity for former loan originators taking their existing skill set and industry knowledge and applying them in specialty servicing," Patrick Norton, SVP of Fay Servicing, based in Chicago, told DS News.

Fay Servicing has selected Patrick Norton as the new president of its Origination Division, Fay Mortgage Services, and Greg Reed to replace him as senior vice president of account management. In his.

Dick Bove: Mortgage lending won’t exist without Fannie, Freddie In order to understand the current market turmoil it is important to look at the history behind the two largest government sponsored entities (GSEs), the Federal National mortgage association (fannie Mae) and federal home loan mortgage corporation (freddie Mac). Fannie Mae was founded as a government agency, part of FDR’s New Deal in 1938.

Monitor: Ocwen Failed Numerous Metrics Last Year, But Is Making Progress. Mortgage servicer Ocwen failed numerous metrics in the second half of 2014, Joseph A. Smith, monitor for the national mortgage settlement, says in his most recent update on Ocwen’s progress.. In addition to failing numerous metrics related to its letter-dating problems last year, Ocwen failed to comply with servicing.

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View Greg Reed’s business profile as Vice President at Cardinal Financial Company Limited Partnership and see work history, affiliations and more.

Categories: Home Loans

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