Residential mortgage special servicer and originator Fay Servicing has named Patrick Norton its new president of loan originations and promoted Greg Reed to senior vice president of account management.
In this position, Norton will manage all origination activities, including sales, underwriting, funding and delivery, and will oversee the division's compliance with lending policies and state and federal regulations.
Norton, an 18-year mortgage banking veteran, previously served the company as its senior vice president of account management. Before joining Fay Servicing, he was first vice president of operations at Countrywide Home Loans/Bank of America.
In assuming Norton's prior role, Reed is now responsible for a team of 140 account managers and all related functions of five servicing centers.
With more than 20 years of industry experience, Reed previously served the company as first vice president in account management. Before that, he was the executive vice president of Great Western Financial Services.