Asset Management Specialists, a property preservation provider for bank-owned properties, has retained Distressed Asset Logistics as a consultant to broaden their business.
Distressed Asset Logistics is a South Amboy, N.J.-based firm founded by Derrick Logan that works with banks, credit unions, mortgage banks and asset management firms to streamline default services and REO activities. Logan is a 20-year veteran of the field services and asset management business who began his career as a founding member at REO Allegiance.
DAL writes and implements property preservation and REO disposition plans that address inherent risks and pitfalls while capitalizing on the internal resources already in place in the client’s operation. In the case where external resources are required for efficient operation of these departments, DAL sources and vets competent outsourcers and then provides the client with a management program that allows them to operate their department with low risk, low costs and a high level of success.
In his role with Asset Management Specialists, Logan will assume the position of senior vice president of strategic development and represent the Philadelphia-based company in a bid to build market share for its national default platform.
“AMS has what it takes to survive the shakeout that’s coming to this part of the mortgage business,” Logan stated in a press release. “I’ve looked at their business and believe there are some opportunities that, if capitalized upon immediately, will allow AMS to grow, even in this environment.”
For example, after years of
“AMS has what it takes to be exactly what servicers need now,” Logan added. “I’m looking forward to helping them make the connections that will allow them to do just that.”
