Due diligence provider Clayton Holdings LLC on Friday said it has agreed to buy Green River Capital, West Valley, Utah, a provider of REO, short sale and broker price opinions whose client base includes mortgage giant Freddie Mac.
No purchase price was disclosed. The transaction is expected to close within 60 days. The privately held Clayton is based in Shelton, Conn.
Green River, which will become a subsidiary of Clayton, currently employs about 200 full-timers. It boasts a BPO and REO-related network that includes roughly 5,000 real estate brokers nationwide.
During the past year, Green River's REO and short sale assignments have grown by more than 87%, according to figures released by the company.
Clayton has promised to run the firm as a standalone business, under its current brand, and retain the management team, including founder and CEO Christopher West. But Clayton CEO Paul Bossidy will also serve as co-CEO of Green River. Joseph D'Urso will remain as the firm's president.
Bossidy said the Green River deal will allow Clayton to “expand our loss mitigation offerings at a time when short sales and REO dispositions are both expected to remain strong.”
