In 2012, Fay helped more than half of the homeowners that used their platform avoid foreclosures after being 90 or more days late.

CHICAGO—Fay Servicing, a Chicago-based special servicer that handles distressed and at-risk mortgages throughout the US, has just hired Nancy Barthel as its new senior vice president of operational risk. Barthel will develop and strengthen the servicer’s QA/QC programs and manage risk across the organization.

“Nancy’s expertise enables us to further enhance the way our organization manages operational risk as we expand our ability to meet the growing demand for special servicing within the mortgage industry,” says Andy Laing, the company’s chief operating officer.

This is the second major hire made by Fay in the past few months. As reported in, this past February, Laing himself was brought on board. In addition, last March also reported that Fay had just opened a second office in west suburban Oakbrook Terrace. That expansion came on the heels of the company’s announcement that it had boosted its revenue by 250% in 2012. The firm was founded in 2008.

Nancy Barthel earned her MBA at the University of Pittsburgh and is a financial services veteran, with more than 30 years of experience in the industry. Prior to joining Fay, she was the president of her own consulting firm, where she restructured operations, integrated technology and implemented regulatory compliance programs for large banks, mortgage lenders and mortgage technology firms to optimize efficiency and manage audit and compliance risk.

Barthel also served as chief operating officer at Pierce and Associates, a Chicago law firm specializing in foreclosures, bankruptcies and REOs for financial institutions across the country. In addition, she was senior vice president at SunTrust Mortgage and vice president at Washington Mutual/PNC Mortgage and GE Capital Mortgage.