Fay Servicing Empowers Homeowners With Financial Assistance Through SpringFour Partnership
Fay Servicing, a full-service mortgage company servicing loans for more than 170,000 U.S. homeowners, is making a significant impact by providing access to financial assistance and relief to thousands of borrowers facing personal and financial challenges. Through its longstanding partnership with SpringFour, the leading social impact fintech platform, Fay Servicing has facilitated over 6,000 referrals in the past year alone, helping homeowners navigate financial difficulties and maintain homeownership.
SpringFour has enabled Fay Servicing borrowers who were struggling to save money and reduce their living expenses to access essential services at no cost, including vetted nonprofit and government programs, local grants, and other community resources. In July 2024, Fay Servicing borrowers received 14% more referrals for utility cost assistance, a 13% rise in employment service referrals, and a 50% boost in financial counseling and child-care service referrals. These numbers reflect Fay Servicing’s dedication to not only helping borrowers manage their immediate financial needs but also to fostering long-term stability for families across the country.
Since the partnership began in 2014, Fay Servicing has facilitated over 96,000 financial health referrals through SpringFour. In the second quarter of 2024 alone, borrowers conducted 23,504 searches for assistance, with the highest demand for help with heating, utility bills, food support, and employment services.
“At Fay Servicing, our priority is ensuring that borrowers can stay in their homes and manage their financial well-being effectively,” said Kimberly Hare, President of Fay Servicing. “Our partnership with SpringFour plays a crucial role in this mission, providing our borrowers with the resources they need to overcome financial challenges and achieve lasting stability.”
Fay Servicing is committed to delivering innovative, borrower-focused solutions that support financial health and homeownership. All of Fay Servicing’s customers have access to SpringFour’s extensive network of more than 23,500 vetted resources across 700 cities nationwide.
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