Auction.com, an online marketplace for foreclosure and bank-owned properties, announced industry veteran Patrick McClain as its new senior vice president of Auction portfolio operations.

Under McClain's direction, Auction.com's portfolio operations will focus on optimizing real estate owned disposition services by establishing partnerships with third-party vendors, agents and its clients' asset management companies.

"Patrick McClain is well respected for his deep knowledge of the real estate industry and for his ability to drive teams toward exceeding client goals and objectives," said Javid Jaberi, Auction.com executive vice president of operations. "I'm confident that his impactful leadership style, commitment to excellence, and bias for action will make him a valuable asset to Auction.com and our entire client base."

McClain brings with him early 20 years of experience in the asset management field. Previously, he served as senior vice president at Atlas Nationwide where he oversaw asset management services including marketing, preservation and maintenance, refurbishment, title, HOA, vendor management and eviction/relocation assistance.

Before that, he worked as senior vice president for GMAC Mortgage, where he was responsible for managing the company’s enterprise REO group.