Hotel asset managers are emerging as the new breed of experienced hotel receivers, according to Capital Hotel Management (CHM), a hotel asset management and investment advisory firm based in Beverly, Massachusetts. As the lending community looks for qualified receivers, the company said it expects to see an exponential leap in demand for hotel asset management services.

In an effort to prepare for the mortgage industry's high volume of foreclosures that are expected to occur throughout 2010, Lenders Asset Management Corporation (LAMCO), a full-service default asset management company based in Littleton, Colorado, announced the development of its REO Services Scalability Initiative.

RealtyBid.com, an online home auction company, says it has hit the ground running in 2010 by offering close to 1,000 REO properties to investors and homebuyers across the country during the month of January. As part of this effort, hundreds of properties have been added to the company's auction Web site in the past week.

From her previous position as VP and general manager, Ora H. Reynolds was promoted to president of Hunt Midwest Real Estate Development, Inc., according to a recent announcement by Jim Holland, chairman of Kansas City, Missouri-based Hunt Midwest Enterprises, Inc.

In an announcement Thursday, The Alter Group, a corporate real estate developer based in Chicago, said it has formed Alter Asset Recovery, which will provide expedited solutions for lenders and special servicers holding distressed properties. The formation of this new affiliate comes at a time when distressed commercial real estate assets are potentially the largest challenge facing banks and other lenders.

As DSNews.com reported, Google has recently released its AdWords comparison ads feature, which allows consumers to shop for and compare mortgages. In addition to teaming up with Mortech, Inc., Google has partnered with Los Angeles-based Leads 360, West Palm Beach, Florida-based OpenClose Mortgage Software, and Costa Mesa, California-based PriceMyLoan.

Although short sales are likely to increase in 2010, the jump in these transactions is unlikely to have any real impact on the housing market, according to a new study by Housing Predictor. While more at-risk homeowners are turning to short sales as an alternative to foreclosure, Housing Predictor says the small number of short sales that are actually approved by banks represent less than 1 percent of all homes facing foreclosure.

Res.Net, a comprehensive workflow management system, recently chose Providence, Rhode Island-based Lincoln Appraisal & Settlement Services to become an approved broker price opinion (BPO) and appraisal business partner.

In a recent announcement, Grubb & Ellis Company, a leading real estate services and investment firm, said it has promoted David Arena to chairman, tri-state region, and Joseph Swingle will take over his position as executive managing director, New York.

Business appears to be improving on a quarter by quarter basis at Morgan Stanley, according to Wednesday's report on the company's full-year and fourth quarter results. In the fourth quarter of 2009, Morgan Stanley reported a net income of $617 million, or $0.29 per diluted share. As the second consecutive profitable month for the company, this jump in net income marks a notable increase from Morgan Stanley's net loss of $10.953 million in the fourth quarter of 2008.