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Freddie Mac Selects Green River Capital to Sell REO Inventory

Mar 23, 2011

Green River Capital (GRC), a real estate-owned (REO) asset management and loss mitigation provider for mortgage servicers, investment firms, credit unions and banking institutions, has announced that Freddie Mac has selected the company to provide REO sales and disposition services to its real estate unit HomeSteps. GRC is one of three third-party companies that will support HomeSteps in all 50 states and help the organization maintain and sell properties in a timely manner, while preserving local property values. HomeSteps’ Good Neighbor Practices protect neighborhoods by requiring agents to show clean and maintained homes and then sell them at market prices. “Selecting Green River Capital underscores HomeSteps’ commitment to working with proven real estate professionals who have the capacity and drive to support our goal of stabilizing communities and maximizing recoveries for Freddie Mac and taxpayers through the sale of our REO inventory,” said Chris Bowden, vice president of HomeSteps. HomeSteps markets and sells Freddie Mac REO homes to homeowners and investors and manages every stage of the REO process, from handling title issues after foreclosure to working with local listing agents to facilitate a sale. “Our goal to help stabilize communities aligns with the objective of Freddie Mac and HomeSteps, which are devoted to upholding high property and sales standards,” said Joe D’Urso, president of Green River Capital. “We are proud to have been selected to help HomeSteps’ REO sales and disposition efforts and look forward to a long-term relationship with Freddie Mac.”
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