""Clayton Holdings"":http://www.clayton.com announced Friday that it has agreed to buy ""Green River Capital"":http://www.greenrivercap.com/. The transaction is expected to close within 60 days. No financial details were announced.[IMAGE]
Clayton Holdings, headquartered in Shelton, Connecticut, provides due diligence, underwriting, surveillance, and default servicing to the residential and commercial mortgage and fixed income industries.
Green River Capital, based out of West Valley, Utah, is an REO asset management and loss mitigation provider, whose subsidiary businesses also offer services related to short sales and broker price opinions (BPOs).
The companyÃ¢â‚¬â„¢s client base includes large investors, financial institutions, and the GSEs. Green River has a[COLUMN_BREAK]
staff of approximately 200, with the support of a nationwide network of more than 5,000 real estate brokers.
Green River will now become a wholly owned subsidiary of Clayton Holdings. The company will continue to operate as a standalone business, under its current brand, in its current location, and will be led by its current management team.
Christopher West, Green RiverÃ¢â‚¬â„¢s founder and chief executive officer, and Paul Bossidy, ClaytonÃ¢â‚¬â„¢s chief executive officer, will become co-CEOs of Green River, and Joseph DÃ¢â‚¬â„¢Urso will remain the companyÃ¢â‚¬â„¢s president.
Commenting on the transaction, Bossidy said, Ã¢â‚¬Å“Green River is an excellent strategic fit for Clayton and our clients. It will expand our loss mitigation offerings at a time when short sales and REO dispositions are both expected to remain strong.Ã¢â‚¬Â
Bossidy adds that Green RiverÃ¢â‚¬â„¢s BPO offerings will complement ClaytonÃ¢â‚¬â„¢s diligence and whole loan acquisition services.
West noted, Ã¢â‚¬Å“During the past year, our REO and short sale assignments have grown by more than 87 percent. By joining with an industry leader such as Clayton, we expect to continue this growth and create a more scalable company while increasing the strength of the Green River brand.Ã¢â‚¬Â