With New Outsourcers, Freddie Mac Brings Competition to Its REO Sales

Freddie Mac is embarking on a monumental shift in the way it has been disposing of real estate owned properties in a move that could push it further toward achieving best execution of its asset dispositions. During the Mortgage Bankers Association Mortgage Servicing Conference in February, Freddie M...

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Bibliographic Details
Published in:National Mortgage News 2011-03, Vol.35 (26), p.12
Main Author: Kilgore, Austin
Format: Article
Language:English
Subjects:
Asset management
Employees
Foreclosure
Government sponsored enterprises
Market strategy
Mortgage companies
Mortgage servicing
Office space
Officials and employees
Outsourcing
Real estate industry
Real estate sales
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Summary:Freddie Mac is embarking on a monumental shift in the way it has been disposing of real estate owned properties in a move that could push it further toward achieving best execution of its asset dispositions. During the Mortgage Bankers Association Mortgage Servicing Conference in February, Freddie Mac announced it had for the first time added multiple outsourcers to help manage and dispose of Freddie's REO portfolio-which totaled 72,079 properties at the end of 2010. Freddie officials did not name the new vendors at the conference, but a week later on its website, National Mortgage News broke the story ahead of the official announcement naming the two firms - San Diego area-based Atlas REO Services and Salt Lake City area-based Green River Capital, who have joined Freddie's existing vendor, Dallas area-based Vendor Resource Management.
ISSN:1050-3331