Lead Loss Mitigation Specialist

Fay Servicing, LLC•Rosemont, IL

2d•$23 - $27•Hybrid

About The Position

Fay Servicing is a nationally recognized mortgage servicer known for delivering borrower-focused support and investor-driven results. As a subsidiary of Fay Financial and a key part of The Fay Group, Fay Servicing specializes in managing re-performing and non-performing loans, as well other specialty products like Non-QM, jumbo, business purpose loans. Fay Servicing’s high-touch servicing model emphasizes personalized care, helping homeowners navigate escrow, payments, and hardship solutions with confidence. For clients, we offer a strategic, transparent partnership built on operational excellence, real-time reporting, and regulatory compliance. Fay’s end-to-end servicing capabilities cover early-stage collections, loan modifications, property preservation, and default management. We also offer interim and business purpose servicing, including the infrastructure to oversee renovations and manage rents. Headquartered in Tampa and operating nationwide, Fay Servicing combines deep industry expertise with cutting-edge technology to reduce risk, improve portfolio performance, and ensure an exceptional experience for both borrowers and investors. Reporting to the AVP, Loss Mitigation, this position is responsible for guiding and coordinating the work of Loss Mitigation Specialists without direct team management responsibilities. This position serves as a subject matter expert and mentors team members, optimizes workflows and collaborates with other departments to achieve optimal outcomes and minimize losses. Additionally, this role optimizes loss mitigation workflows, ensuring compliance with investor, insurer and regulatory requirements. The Lead Loss Mitigation Specialist analyzes data and provides advanced support for complex cases, developing and implementing loss mitigation strategies.

Requirements

Bachelor’s degree in Business or related field (or equivalent combination of years of experience with High School diploma/ GED)
3+ years' experience in Default Servicing required
3+ years' experience in Loss Mitigation
3+ years' experience in the mortgage servicing industry
2+ years' experience working in a fast-paced work environment
Analytical skills to distribute and allocate resources
Strong knowledge of Microsoft Office products (Excel, Word and PowerPoint)
Strong verbal and written communication skills
Strong listening skills with the ability to facilitate meetings and effectively lead discussions
Strong interpersonal skills
Strong analytical skills and problem-solving abilities
Ability to explain decisions and the reasons why to promote understanding and buy-in with others
Solid decision-making abilities coupled with sound judgement
Strong organizational and time management skills
Ability to effectively prioritize numerous tasks and manage shifting priorities in a fast-paced, dynamic environment
Client focused with strong execution skills and results orientation
High-level of attention to detail and consistency; high quality of work product
Flexible, open to change; ability to learn new things quickly
Collaborative work style; team orientation with the ability to provide guidance for working groups
Compliance orientation

Nice To Haves

MSP experience preferred

Responsibilities

Guiding and coordinating the work of Loss Mitigation Specialists without direct team management responsibilities.
Serving as a subject matter expert and mentoring team members.
Optimizing workflows and collaborating with other departments to achieve optimal outcomes and minimize losses.
Optimizing loss mitigation workflows, ensuring compliance with investor, insurer and regulatory requirements.
Analyzing data and providing advanced support for complex cases.
Developing and implementing loss mitigation strategies.