CHICAGO, IL- Fay Servicing, a Chicago-based special servicer that handles distressed and at-risk mortgages, just announced that they had opened a second office in west suburban Oakbrook Terrace. The firm stated that this will allow them to grow further and “access the mortgage talent in the western and northern suburbs in Chicago.

The expansion comes on the heels of Fay's announcement last month that the firm had boosted its revenue by 250 percent in 2012. The firm was founded in 2008.

“Last year was an exciting year for us from a growth perspective and we pride ourselves on being able to maintain a strong business while also helping borrowers,” said Ed Fay, chief executive officer of Fay Servicing, in a February statement. He added that, in 2012, Fay helped more than half of the homeowners that used their platform avoid foreclosures after being 90 or more days late on their mortgage payment. “We are committed to educating borrowers to help them make the best financial decisions and believe we will increase the number of borrowers that avoid foreclosure in 2013 with our mitigation efforts.”