Fay Servicing
Fay Servicing is a privately held US mortgage loan servicer licensed in all 50 states plus DC and territories, collecting payments, managing escrow, and providing loss mitigation for hundreds of thousands of residential borrowers, with origination and ancillary services delivered through the affiliated Genstone ecosystem.
- Company typePrivate
- Founded2008
- HeadquartersChicago, United States
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What Fay Servicing does
Fay Servicing is a US-based, privately held residential mortgage loan servicer (Fay Servicing, LLC, NMLS ID 88244) that collects payments, manages escrow, and provides loss mitigation and foreclosure prevention for hundreds of thousands of homeowners nationwide. The company holds mortgage lending, servicing, and collection agency licenses in all 50 states plus DC, Puerto Rico, the US Virgin Islands, and the Northern Mariana Islands, with corporate operations centered in Tampa, Florida and Chicago, Illinois plus operational support in Farmers Branch (Texas) and Troy (Michigan). Its distribution model is bifurcated: servicing is acquired passively through transfers of servicing rights and supported via online self-service, while origination and ancillary services are delivered through phone-based account executives and the affiliated Genstone ecosystem (Genstone Financial, Genstone Realty, Genstone Insurance, Genstone Property Management, Genstone Construction/Constructive Renovations).
The core technology platform is the LoanSphere Servicing Digital portal (BKIConnect), which provides 24/7 borrower access to loan details, payment processing via bank account or cash/debit through PayNearMe and MoneyGram, automatic payment setup, document viewing, payoff requests, and profile management. Supporting platforms include a Loan Solution Center for assistance applications, ExpressInsuranceInfo.com for policy verification, and MyInsurancePortal.com for insurance claim tracking; community resources are delivered through a SpringFour partnership. Loan products originated via Genstone Financial span conventional, FHA, VA, alternative documentation, low down payment, and home equity loans for homeowners, plus DSCR and Fix & Flip financing for real estate investors.
Fay Servicing generates revenue primarily through recurring per-loan servicing fees paid by loan owners (banks, investors, GSEs) for payment processing, escrow management, and default servicing, augmented by transaction-based origination revenue from Genstone Financial and affiliate referral economics from Genstone Insurance (Goosehead-powered), Genstone Realty, and property management. Operational payment channels include free bank-account debits, fee-bearing debit card transactions via PayNearMe, cash payments at retail locations (capped at $1,500/24 hours), and US mail. The company is part of the privately held Fay Group and maintains no disclosed venture or private equity ownership.
Fay Servicing firmographics
Firmographics- Name
- Fay Servicing
- Legal name
- Fay Servicing, LLC
- Website
- https://fayservicing.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Fay Servicing is a privately held US mortgage loan servicer licensed in all 50 states plus DC and territories, collecting payments, managing escrow, and providing loss mitigation for hundreds of thousands of residential borrowers, with origination and ancillary services delivered through the affiliated Genstone ecosystem.
- Ownership category
- akta.pro rank
Fay Servicing industry classification
Industry- Product category
- Mortgage Loan Servicing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163)
- akta.pro primary industry
- Prime (Agency/Conforming) Mortgage Servicing (FSALAEAA)
- akta.pro secondary industries
- Government-Insured/Guaranteed Loan Servicing (FHA/VA/USDA) (FSALAEAC), Home Equity Loan/HELOC Servicing & Subservicing (FSALAGAD), Loan Servicing & Special Servicing (Delinquency Management) (FSAKAJAG)
Keywords
Where Fay Servicing is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices7 records
Markets served
Fay Servicing business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Mortgage Loan Servicing: Fay Servicing earns fees for servicing mortgage loans on behalf of loan owners. Services include payment processing, escrow management, customer communications, loss mitigation, and foreclosure prevention. The company maintains relationships with loan owners (investors, banks, government-sponsored enterprises) and receives servicing fees based on loan portfolio size and performance metrics.
- Loan Origination: Through Genstone Financial (powered by Fay Servicing), the company originates mortgage loans for homeowners and investors, including conventional loans, FHA loans, VA loans, alternative documentation loans, DSCR loans for investors, and fix-and-flip loans. Revenue is generated from origination fees and interest rate spreads.
- Ancillary Services: Revenue from related services including insurance products (via Genstone Insurance powered by Goosehead Insurance with carrier commissions), real estate services (via Genstone Realty), and property management (via Genstone Property Management).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Online Payments - Bank Account |
| Transaction based/ take rate | Pay-as-you-go | PayNearMe (Debit Card/Cash) |
| Other | Pay-as-you-go | US Mail Payments |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels5 records
Fay Servicing product offering
Product offeringCore offering
Fay Servicing is a residential mortgage loan servicer that collects payments, manages escrow, provides loss mitigation, and handles foreclosure prevention on behalf of institutional loan owners (investors, banks, GSEs). Through its Genstone Financial affiliate, it also originates purchase, refinance, home equity, DSCR (investor), and Fix & Flip loans directly to homeowners and real estate investors. The company complements these core offerings with an integrated ecosystem of realty, insurance, property management, construction, title, and field services for its borrower/investor base.
Product overview
Fay Servicing is a mortgage loan servicing company offering a unified platform for loan management, payment processing, and borrower assistance. The core product is the Fay Servicing servicing platform (via LoanSphere Servicing Digital portal), which enables borrowers to manage loan details, make payments, submit documentation, and access assistance. The company operates subsidiary brands under the Genstone umbrella: Genstone Financial (loan origination), Genstone Realty (real estate services), and Genstone Insurance (powered by Goosehead Insurance). Loan products span conventional, FHA, VA, alternative documentation, and low down payment mortgages for homeowners, plus DSCR and Fix & Flip loans for real estate investors. Supporting digital platforms include the Loan Solution Center for assistance applications, ExpressInsuranceInfo.com for insurance submissions, and MyInsurancePortal.com for claims tracking. The company is licensed in all 50 states and Washington DC with NMLS ID 88244.
Differentiator
Problem solved
Functional benefit
Brands
- Genstone Financial: Tailored loan solutions for homeowners and real estate investors, providing financing options for home purchases, portfolio expansion, and refinancing.
- Genstone Realty
- Genstone Insurance
Products and services
- Mortgage Loan Servicing End-to-end residential mortgage loan servicing including payment processing, escrow management, customer communications, loss mitigation, and foreclosure prevention delivered on behalf of institutional loan owners such as investors, banks, and GSEs. Servicing is delivered through the LoanSphere Servicing Digital online portal, phone support, and mail payments to homeowners whose loans have been transferred to or originated through Fay Servicing.
- Conventional Loans Fixed-rate mortgage loans with terms ranging from 10 to 30 years for borrowers with solid credit profiles making a traditional down payment, originated through Genstone Financial (powered by Fay Servicing) for home purchase and refinance.
- FHA Loans Government-backed mortgages for first-time homebuyers or borrowers with less-than-perfect credit, offered in 15- and 30-year fixed-rate terms with lower down payment requirements, originated through Genstone Financial.
- VA Loans Mortgage loans available to eligible veterans, active-duty service members, and their families, offered in 15- and 30-year fixed-rate terms with no down payment required and no private mortgage insurance requirement, originated through Genstone Financial.
- Alternative Documentation Loans Loan products allowing income verification through alternative methods for borrowers who do not have standard financial documentation such as tax returns, originated through Genstone Financial.
- Low Down Payment Loans Mortgage options designed for borrowers who cannot afford large down payments, enabling homeownership with more manageable upfront costs, originated through Genstone Financial.
- Fixed Rate Home Equity Loan/Line Home equity financing allowing borrowers to access accumulated equity in their homes with fixed interest rates for predictable financing and protection against rising rates, originated through Genstone Financial.
- DSCR Loans Debt Service Coverage Ratio loans for real estate investors seeking rental property financing based on property income rather than personal income, designed for growing investment property portfolios, originated through Genstone Financial.
- Fix & Flip Loans Short-term financing for real estate investors focused on property renovation projects, offering high loan-to-cost options and quick closing times with terms typically up to 18 months, originated through Genstone Financial.
Quantifiable outcome
- Hundreds of thousands of homeowners served nationwide
- +1 more outcomes
Companies that use Fay Servicing
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles2 records
Fay Servicing technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature3 records
Fay Servicing partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and supporting.
- Genstone FinancialcoreGenstone Financial, powered by Fay Servicing, provides tailored loan solutions for homeowners and real estate investors including purchase financing, portfolio expansion, and refinancing options.
- Genstone RealtycoreGenstone Realty offers real estate services including buying, selling, and investing guidance with integrated in-house services for financing, insurance, title, renovations, and property management.
- Genstone Insurance (Goosehead Insurance)coreGenstone Insurance, powered by Goosehead Insurance, provides Fay Servicing customers access to home and auto insurance with comparisons from 200+ top-rated carriers.
- Genstone Property ManagementcoreGenstone Property Management provides property management services as part of the integrated real estate ecosystem for investors and homeowners.
- Constructive Renovations (Genstone Construction)supportingGenstone Construction (d/b/a Constructive Renovations) provides renovation services for properties, supporting the fix-and-flip loan products and property improvement needs.
- Genstone Asset ManagementsupportingAffiliate entity within the Fay Servicing corporate family providing asset management services for real estate portfolios.
- Genstone Asset DispositionsupportingAffiliate entity within the Fay Servicing corporate family handling asset disposition services.
- Title Clearing and EscrowsupportingAffiliate entity providing title clearing and escrow services as part of integrated real estate transaction support.
- SpringFoursupportingCommunity partnership providing curated resources for Fay Servicing customers including employment, heat/utilities assistance, and financial counseling services.
- LoanSphere (BKIConnect)coreTechnology platform powering the online borrower portal for account management, payments, document access, and loan applications.
- ExpressInsuranceInfo.comsupportingDigital platform for borrowers to upload and verify insurance policy information 24/7 via computer or smartphone.
- MoneyGramsupportingCash payment processing partner allowing borrowers to make mortgage payments at MoneyGram retail locations.
- PayNearMesupportingCash and debit card payment processing partner enabling payments at participating retail stores with QR code scanning from monthly statements.
Scale indicators3 records
Recent moves5 records
Expansion highlights5 records
Fay Servicing competitors and assessment
Company assessmentDirect peers
- Mr. Cooper Group: Largest non-bank mortgage servicer in the U.S. with millions of customers, also active in origination and MSR acquisitions. Directly comparable to Fay as a non-bank servicer of residential mortgages at scale, with similar loss mitigation and customer service operations.
- PennyMac Financial Services: PennyMac (formerly Nationstar) is a major non-bank servicer and originator with a similarly diversified product set spanning servicing, origination, and investor lending. Like Fay, it competes for MSR portfolios and investor-focused loan products.
- LoanCare: LoanCare is a leading sub-servicer for banks and investors, processing high loan volumes across agency, non-agency, and HELOC products. It is the closest sub-servicing-only competitor to Fay's day-to-day operations and infrastructure setup.
- Ocwen Financial / PHH Mortgage: Ocwen operates a large residential servicing platform with significant special servicing and loss mitigation capabilities. It is a direct peer in distressed loan servicing and customer-facing retention programs.
- Carrington Mortgage Services: Carrington is a mid-sized non-bank servicer and originator with a strong focus on FHA/VA, non-QM, and investor financing. Its product mix and government-loan servicing specialization directly mirror Fay's Genstone Financial offerings.
- Shellpoint Mortgage Servicing (NewRez): Shellpoint, a subsidiary of NewRez, is a major sub-servicing and consumer-direct servicer operating across all 50 states. It competes with Fay for MSR portfolio acquisitions and operates a comparable multi-channel borrower engagement model.
- Specialized Loan Servicing (SLS): SLS specializes in residential mortgage sub-servicing for banks, credit unions, and investors. It is a direct peer on the servicing-technology and back-office operations side that powers Fay's core LoanSphere-driven operations.
Broad incumbents
- Rocket Mortgage: Rocket is the largest U.S. mortgage originator with a substantial in-house servicing portfolio (formerly Quicken Loans). It serves overlapping borrower segments with conventional, FHA, VA, and investor products and defines the competitive ceiling on direct-to-consumer mortgage.
- Caliber Home Loans: Caliber operates a sizable origination and servicing platform with diversified retail, wholesale, and correspondent channels. Its investor product set (DSCR, fix-and-flip) overlaps directly with Fay's Genstone Financial investor offering.
Emerging players
- Home Point Capital: Home Point is a mid-sized mortgage lender and servicer with a focus on wholesale and retail origination plus MSR portfolio management. It is a comparable emerging peer in the non-bank servicing and origination space.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key highlights7 records
Customer concentration
Fay Servicing social profiles
Digital presenceFay Servicing compliance and trust
Trust signalCompliance2 records
Fay Servicing financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fay Servicing leadership team
Management profileNumber of profiles
Profiles3 records
Fay Servicing subsidiaries and ownership
Company hierarchySubsidiaries11 records
Fay Servicing funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fay Servicing M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fay Servicing
What does Fay Servicing do?
Fay Servicing is a residential mortgage loan servicer that collects payments, manages escrow, provides loss mitigation, and handles foreclosure prevention on behalf of institutional loan owners (investors, banks, GSEs). Through its Genstone Financial affiliate, it also originates purchase, refinance, home equity, DSCR (investor), and Fix & Flip loans directly to homeowners and real estate investors. The company complements these core offerings with an integrated ecosystem of realty, insurance, property management, construction, title, and field services for its borrower/investor base.
Is Fay Servicing a public or private company?
Fay Servicing is a private company. It is classified as management employee owned and is currently operating.
When was Fay Servicing founded?
Fay Servicing was founded in 2008. It employs 501 to 1,000 people.
Where is Fay Servicing based?
Fay Servicing is headquartered in Chicago, United States, in the North America region.
How does Fay Servicing make money?
Three revenue lines are on record. Mortgage Loan Servicing is the primary driver. The others are loan Origination and ancillary Services.
Who are Fay Servicing's main competitors?
Direct peers on record are Mr. Cooper Group, PennyMac Financial Services, LoanCare, Ocwen Financial / PHH Mortgage, Carrington Mortgage Services, Shellpoint Mortgage Servicing (NewRez) and Specialized Loan Servicing (SLS). Broad incumbents are Rocket Mortgage and Caliber Home Loans. Home Point Capital is listed as an emerging player.
Does Fay Servicing have an API?
No public API is recorded for Fay Servicing.
What industry is Fay Servicing in?
Fay Servicing's product category is Mortgage Loan Servicing. Its primary akta.pro industry code is FSALAEAA, Prime (Agency/Conforming) Mortgage Servicing, with a secondary code of FSALAEAC, Government-Insured/Guaranteed Loan Servicing (FHA/VA/USDA). Its NAICS code is 522320 and its SIC code is 6162.