Fay Servicing, which maximizes the value of residential loan portfolios for mortgage bankers and alternative real estate investors, is now a Freddie Mac-approved special servicer.
The approval means the company can now sell conventional loans to Freddie Mac, as well as service Freddie Mac's securities.
It also gives Fay Servicing the ability to purchase the mortgage servicing rights on Freddie Mac loans on a bulk and flow basis.
‘Receiving the Freddie Mac approval is an exciting achievement and an important step in the overall success of our company,’ says Ed Fay, CEO of Fay Servicing, in a release. ‘We look forward to applying our borrower-centric business model when we sell loans to Freddie Mac and service the organization's securities.’