Matt Martin Real Estate Management LLC (MMREM) named industry veteran Jo Ann Kruse to the post of Chief Operating Officer of MMREM and its subsidiary companies. Kruse brings 30 years of experience to MMREM, focusing on managing business process improvement and risk management within large financial services organizations.
Kruse joins MMREM from the Impac Companies in Irvine, California, where she served in several senior roles over the past six years, including as executive vice president and director of mortgage operations, servicing and default. Under her leadership, mortgage production quadrupled to over $3.6 billion in annual run rate. She also managed a real estate owned (REO) outsource company acquired by Impac in the liquidation of billions in assets, while additionally being responsible for a $17 billion mortgage-backed securities servicing portfolio.
Prior to Impac, Kruse held senior and executive risk management positions at Countrywide, Wells Fargo Home Mortgage, and KPMG. She will be based in the headquarters office at MMREM in Frisco, Texas, where most of the company’s operating units will report through her.
“MMREM has experienced tremendous growth over the last few years, and as we continue to grow in size and business offerings, we need an executive of Jo Ann’s caliber to keep the operations running at optimal levels,” said Matt Martin, chairman and CEO of MMREM. An example of the company’s diversification strategy is Sperlonga, a fast-growing, award-winning unit of MMREM that specializes in resolving claims from homeowners associations and tracking hundreds of thousands of these HOAs across the country. “Sperlonga assists lenders and investors in protecting first lien positions when HOA claims exist and helps ensure the HOAs’ financial stability,” Martin notes. “The company has grown rapidly to about 150 people, and it is just one of our business lines. Jo Ann’s experience in managing growing and complex organizations will be invaluable as MMREM continues to expand,” he says.
MMREM operates nationally from its Frisco, Texas headquarters and offices in Virginia, Pennsylvania and California. The company works extensively with banks, mortgage bankers, servicers, hedge funds, private equity groups and insurers. Additionally, MMREM provides its services to agencies of the federal government, including numerous programs with HUD, the United States Marshalls Service Asset Forfeiture Division, the FDIC and the United States Air Force, as well as state governments, in real estate asset management and disposition services. The company has several new initiatives to announce in 2014 that leverage its core real estate and management expertise, and will spur substantial additional growth.
“MMREM is a very dynamic company with a tremendous future,” says Kruse. “I look forward to bringing my experience to this energetic team and managing the operations as MMREM grows to serve the private and public sectors with the industry’s most effective real estate services.”