""Freddie Mac"":http://www.freddiemac.com said Wednesday that it has selected ""Green River Capital"":http://www.greenrivercap.com based in West Valley City, Utah, and ""Atlas REO Services"":http://www.atlasreo.com of San Diego, California, to provide sales and disposition support to HomeSteps.
""HomeSteps"":http://www.homesteps.com is the real estate sales unit of the McLean, Virginia-based GSE. HomeSteps markets Freddie Mac-owned REO homes nationwide through local real estate brokers.
Green River Capital and Atlas REO Services are specialty REO management and loss mitigation providers for mortgage servicers and other financial services companies. Freddie Mac says it has contracted the two firms ""to expand its capacity to handle expected increases in REO inflow volumes.""
Chris Bowden, HomeSteps VP, said, ""Green River Capital and Atlas REO Services have the experience and capacity to enhance HomeSteps' capacity to compete and excel in today's housing market. Their selection underscores our emphasis to work with proven real estate professionals who support our commitment to stabilize communities and be responsible stewards of taxpayer resources.""
Freddie Mac's HomeSteps has had a similar contract with Texas-based ""Vendor Resource Management"":http://www.vrmco.com/ (VRM) since 2006.
The three third-party vendors will support HomeSteps' core sales and disposition functions, such as valuation, market strategy, listing, and closing, the GSE explained in a press statement.