Mike Aiken was Appointed as Vice President and Associate General Counsel - Servicing/Litigation at

Date of management change: October 12, 2018 

What Happened?

Chicago, IL-based Appointed Mike Aiken as Vice President and Associate General Counsel - Servicing/Litigation

 

About the Company

Founded in early 2008 to address challenges created by the growing housing crisis, our company is committed to providing innovative servicing solutions for both performing and non-performing mortgages. Until recently, the existing traditional mortgage servicers were adequately able to handle the mortgages under their care. The functioning premise of their servicing models was a high volume, low delinquency approach. However, in the last two years, due to many factors, residential mortgages have begun experiencing unprecedented levels of delinquency. As a direct result, many servicers quickly found themselves overwhelmed and unable to effectively manage the resulting complications. We conducted an exhaustive analysis of the existing mortgage servicing industry and gained valuable insight into the short-comings of current mortgage servicers. Realizing that even adapting an existing approach was wrought with immense challenges including legacy portfolio issues and unproductive corporate cultures, we decided to build a new model from the ground up, the focus of which would be to benefit both the homeowners and the lenders.

 

About the Person

Mike Aiken is Vice President and Associate General Counsel - Servicing/Litigation at Fay Servicing. Previously, Mike held various senior legal leadership roles in the industry.

 

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