Stewart launches asset management biz for community banks
Stewart Lender Services, a subsidiary of Stewart Title Co., announced the creation of a boutique asset management and disposition platform catering to community banks. The new line of business is designed for community banks to enjoy the perks of having asset and disposition management professionals focused on enhancing the value of individual assets and doing so in an expedited time frame. Stewart Lender Services intends to take a proactive approach with clients' properties, preserving the property up-front, even getting involved in the pre-foreclosure phase, the company said. Going forward, community banks that hire Stewart Lender Services will rely on the firm to maintain the properties' condition, reduce a bank-owned property's time in REO, while focusing on saving time and money. “Community banks have very valid concerns about the disposition of bank-owned properties given current market conditions,” said Michael Harris, senior vice president of Stewart Lender Services. “Stewart’s solution provides customers with assurance that all their assets are handled in the same high-quality manner.” Write to Kerri Panchuk.