REO asset management firm Green River Capital noted 163% growth last year as short sale and door-knocking referrals pushed revenue higher.
The growth came as the firm launched a component servicing division, adding both chief information officer Kim Schroeder and Tim Reilly as senior vice president of the company’s short-sale unit.
“With the company’s ongoing growth of over 150% in the short-sale division as well as the launch of our component servicing division, 2012 has been dedicated to responding to the market’s changing needs,” said Joe D’Urso, president of GRC.
Those changing needs include a focus on servicing compliance in light of new federal and state regulations across the country.
One of the key parameters used to judge servicers in today’s environment is the use of a single-point-of-contact to ensure continous communication with distressed borrowers.
Green River says it maintained a right-party contact rate on highly delinquent-no-contact assets of around 56% over the past year.
The company hired Tim Reilly during the growth period from BankUnited, where he previously served as senior vice president of default administration. Kim Schroeder came to the firm, bringing 25 years of development and IT experience, most recently serving iBAHN as vice president of information and business services.
