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""Green River Capital"":http://www.greenrivercap.com (GRC), an REO asset management and loss mitigation provider headquartered in West Valley, Utah, has launched a new full-service valuation company, ""Infinity Valuation Services"":http://www.ivsbpo.com (IVS), which will focus exclusively on distressed properties.
[IMAGE]IVS provides appraisals and property inspections, as well as broker-price opinions (BPOs) by leveraging Green River's established, nationwide network of 8,000 REO brokers who are familiar with their local markets and the distinct parameters that come with valuing foreclosures, short sale properties, REOs, and even non-performing assets for trading firms looking to acquire a pool of loans.
""We have created IVS as a separate company that will use that same network of preferred GRC agents to provide the detailed information on properties that the industry needs,"" said Chris West, president and CEO of Green River Capital and IVS. ""Rather than soliciting the opinions of brokers who may have never sold REOs, companies can hire IVS and benefit from professionals who understand this niche market and the many considerations that come with distressed properties.""
Stephen Sherman, SVP of Green River Capital and IVS, explained to DSNews.com that in working with clients,
[COLUMN_BREAK]GRC learned that those making the decisions in distressed property transactions often had difficulty finding someone with experience in the REO market to provide valuations. With an extensive network of REO-trained brokers already in hand, Green River set out to create an entity to meet this very need.
""Our ability to change on a dime to meet the needs of our clients is something we're extremely skilled at,"" said Sherman, whose been with the company for two and a half years and says this aspect of the Green River culture is one attribute that stands out the most to him â€" that and the organization's drive to provide the level of service that makes them ""indispensible"" to their clients' business. Sherman says this same modus operandi can be found in all of Green River's ventures.
In late May, GRC also announced the ""launch of a new short sale management company"":http://dsnews.comarticles/green-river-capital-launches-short-sale-management-company-2010-05-24 â€" Green River Financial.
Here too, Sherman says Green River's agents are fully versed in the short sale process and have even been trained and tested to comply with the Fair Debt Collection Practices Act (FDCPA).
According to Sherman, the value proposition offered to clients through Green River Financial is the company's ability to handle every step of the short sale process, from initial outreach to the delinquent homeowner, which often involves literal door-knocking; to listing the short sale property after the homeowner agrees; to contract negotiations, title resolution, and closings.
Sherman says that for most servicers, their Plan A is to handle all short sale requests in-house, but with an influx of short sales expected as other options are exhausted, he says servicers should have their Plan B ready, should volume exceed internal capabilities. And that's where Green River Financial comes in.
""Servicers shouldn't lose the opportunity to offer a short sale versus a foreclosure,"" Sherman said.
