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Auction.com Taps Citi Exec to Expand Mortgage Notes Platform

Real estate auctioneer and loan sales advisor ""Auction.com"":http://www.auction.com announced Monday that the company has named Elizabeth O'Brien managing director and SVP.

Based in the company's New York office, O'Brien was hand-picked by CEO Jeff Frieden to expand Auction.com's residential mortgage notes platform and lead the firm's residential capital markets business.

""Beth's expertise enables us to build on the success of our residential foreclosures and commercial notes platforms and expand into residential notes,"" Frieden said. ""Her track record in distressed mortgage finance makes her a


driving force behind our ongoing growth as the world's preeminent real estate auctioneer.""

O'Brien has 17 years of principal and client experience in the mortgage and real estate markets, serving most recently with Citi as a director in mortgage finance within its fixed income division. In this capacity, she oversaw resecuritizations and liquidating trust transactions in excess of $10 billion and helped manage the lender's legacy asset portfolio.

Prior to that, she was with Goldman Sachs' New York and Hong Kong offices in the real estate principal investment area, serving as chief administrative officer of the Whitehall Street Real Estate Funds. She was also responsible for structuring investments in residential loans, hospitality, and financial services companies.

O'Brien began her career as an attorney for Latham & Watkins in New York. She earned her J.D. from Georgetown University Law Center.

Since 2007, Auction.com has sold more than $12 billion in real estate assets at auctions across the country and online. The company's other services include residential loss mitigation and title agency and escrow/closing services.