CHICAGO—Fay Servicing, a Chicago-based specialservicer that handles distressed and at-risk mortgages throughoutthe US, has just hired Nancy Barthel as its newsenior vice president of operational risk. Barthel will develop andstrengthen the servicer's QA/QC programs and manage risk across theorganization.

“Nancy's expertise enables us to further enhance the way ourorganization manages operational risk as we expand our ability tomeet the growing demand for special servicing within the mortgageindustry,” says Andy Laing, the company's chiefoperating officer.

This is the second major hire made by Fay in the past fewmonths. As reported in, this past February,Laing himself was brought on board. In addition, lastMarch also reported that Fay had just opened a second office in west suburban OakbrookTerrace. That expansion came on the heels of the company'sannouncement that it had boosted its revenue by 250% in 2012. Thefirm was founded in 2008.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.