From draw management to securitizations, the single-family rental market has grown in size and diversity since the financial crisis a decade ago. Green River Capital, founded in 2003, has grown and adapted along with it, becoming a trusted partner in the market by innovating and integrating a full suite of services to support new clients just entering the SFR space, as well as fulfilling the needs of experienced institutional investors.
Green River Capital (GRC) provides a range of services including a centralized, single point of contact for facilitating the valuation, diligence and underwriting services needed to support SFR securitizations, multi-borrower transactions and warehouse facilities. The company’s ability to shift focus from one business unit strategy to another is especially critical as the market continues to shift.
“Due to the availability of additional financing and liquidity, the market is shifting toward a fix-and-flip strategy, providing further opportunity for Green River Capital to offer advisory and diligence services,” said Richard Lundbeck, vice president of SFR. “With an emphasis on proper valuation and diligence for the fix-and-flip market, our company is uniquely qualified to meet these demands with its suite of real estate data and analytics products and diligence expertise.”
Founded in 2003, Green River Capital developed a client base of national and regional banks, mortgage lenders, servicers, investors, regulators and the GSEs (government sponsored enterprises) — managing more than 200,000 REO assets. Upon its acquisition in 2012 by Clayton Holdings, Green River Capital created a division to service the needs of institutional investors and lenders of SFR properties.
In 2013, Green River Capital leveraged its core competency to provide a full suite of services or individual components for participants in the single-family rental space and acted as the diligence agent to perform all valuations for the very first SFR Securitization. In 2014, Clayton Holdings was acquired by Radian, a leading provider of mortgage insurance and related products and services.
“Coupled with Radian’s financial strength and customer relationships, along with data and analytics through our sister company, Red Bell Real Estate, Green River Capital is the leading provider of collateral review and validation services in the single-family rental market,” said Tim Reilly, executive vice president of Mortgage Services Operations.
With a consultative culture, Green River Capital offers valuable insight into lender diligence requirements, offering customized diligence and valuation products tailored to a lender’s specific loan guidelines and securitization requirements.
As the integration of artificial intelligence and big data continue to drive efficiencies and increase quality in the marketplace, Green River Capital will continue to leverage the latest technology as part of its mission to support its customer’s success in today’s rapidly evolving and connected world.
“We are committed to delivering innovative products and services that are informed by data and analytics and powered by technology, positioning us at the forefront of change for the SFR market,” said Michael Dziuba, senior vice president of Enterprise Sales.
Tim Reilly, Executive Vice President, Mortgage Service Operations
Tim Reilly’s 25-year career includes executive positions in default and asset management with Bank United, Deutsche Bank Securities, Impac Companies, ABN-AMRO, and Fairbanks Capital Corp. He is active in industry associations, including the Mortgage Bankers Association, and has served on advisory boards for Fannie Mae, Freddie Mac and United States Foreclosure Network Attorneys. Reilly holds a bachelor’s degree from the University of Texas at Austin with continued executive education in finance from Stanford University and Six Sigma training provided by GE Capital.
Michael Dziuba, Senior Vice President, Enterprise Sales
Michael Dziuba manages Radian’s Mortgage and Real Estate Services Sales team. Dziuba has been with Radian for 18 years in various capacities, including SVP Capital Markets Sales, National Field Sales Manager, and SVP National Business Development Sales. Prior to joining Radian, Dziuba held positions at GE Capital, M&T Bank, Smith Barney and First Boston. He holds a bachelor’s degree in finance from Northeastern University and an MBA in Management from the Stern School of Business at NYU.
Richard Lundbeck, Vice President, Single Family Rental Operations
Richard Lundbeck joined Green River Capital in November of 2014 to lead the component services business operations, focusing on single-borrower single-family rental debt facility and securitization products and services. Since joining the company, he has successfully streamlined many parts of the operation, increasing efficiencies through his hands-on leadership of the team. Lundbeck has been key in cultivating and maintaining client relationships. Lundbeck also oversees the additions of new business lines within the department, such as “fix-and-flip” lending, as the traditional single-borrower SFR has begun to evolve.