Titanium Holdings Inc., the parent company of Titanium Solutions Inc., a provider of loss mitigation solutions, recently announced the launch of a new business unit, Excellen REO. Excellen REO is a full-service REO asset management company that offers a complete suite of services designed to create a customized property liquidation process for each client. “Titanium Holdings has created a formidable reputation in the industry and I look forward to garnering that same level of trust for Excellen REO,” said Patrick Carey, CEO of Titanium Holdings.
“As the mortgage industry faces various challenges during this economic downturn, the success we have experienced with Titanium Solutions for more than a decade has uniquely positioned us to understand and respond to the changing needs of our clients,” said Carey. “We have made a number of strategic decisions during the past year and the launch of Excellen REO is the latest result of that effort. Excellen REO will help us expand the client relationships that we have built over the years and establish new partnerships as we offer a comprehensive solution to all of their property liquidation needs.”
Cary Sternberg, president of the new company, leads Excellen REO. With almost 40 years of experience in asset preservation, management and liquidation, Sternberg is the former senior vice president of the REO department for American Home Loan Servicing Inc. In this position Sternberg managed more than 200 employees and 33,000 assets. His previous titles also include first vice president of home loan servicing and REO of Indymac Bank FSB, national REO manager of Ocwen Federal Bank FSB, president of Virginia Commonwealth Realty and senior vice president of American Family Homes.
“We have assembled a staff that leverages decades of experience in REO management and key business partners across the country,” Sternberg said. “Titanium Holdings has created a formidable reputation in the industry and I look forward to garnering that same level of trust for Excellen REO.”
Excellen REO services include pre-marketing, valuations, marketing and sales negotiation, closing and funding and alternative sales methods. The company will leverage a nationwide network of real estate brokers and local eviction attorneys, as well as property preservation companies.