Freddie Mac’s ""HomeSteps"":http://www.homesteps.com/ REO sales unit has renewed its agreement with ""Vendor Resource Management"":http://www.vrmco.com (VRM), an REO disposition provider headquartered in Irving, Texas, and a subsidiary of the national real estate valuation company ""PCV Murcor"":http://www.pcvmurcor.com.
Chris Bowden, VP of Freddie Mac's HomeSteps division, said, ""We’re pleased to continue working with VRM and PCV Murcor, which share our commitment to balance the need for preserving communities and mitigating credit losses.""
Under the renewed agreement VRM, who has been an outsourcer for Freddie Mac since 2006, will continue to provide loss mitigation and REO disposition services to the residential mortgage investor and home financing giant. According to VRM, its services help Freddie Mac streamline the process for offloading REO assets.
The CEO of PCV Murcor and Vendor Resource Management, Keith Murray, MAI, ASA, added, ""PCV Murcor and VRM are committed to selling REOs at a price that maximizes recovery for our customers, while at the same time supporting home prices in some of the nation’s hardest-hit communities.""
In addition to REO property disposition, Vendor Resource Management provides pre-marketing, closing, and title service solutions. Its parent, PCV Murcor, based out of Southern California, offers valuation analysis for bulk and flow transactions to financial institutions, government agencies, asset managers, and insurance companies.
According to Murray, all customers get the benefit of the companies' experienced mortgage servicing professionals, who individually average more than 27 years in the industry.