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GRC Launches Property Survelliance Unit

Distressed asset management and loss mitigation services provider Green River Capital LLC has launched a surveillance division to address credit risks surrounding the rapidly expanding REO-to-rental market.

In collaboration with its parent company, Clayton Holdings, GRC said it is expanding a service that has seen unprecedented demand from real estate owned asset management and loss mitigation firms.

GRC combined Clayton’s component services technology and credit risk management expertise to create a tool that can be customized to adhere to the specific needs of all REO-to-rental market stakeholders including investors, lenders, real estate investment trusts or other parties managing securitized REO loan portfolios.

Investor interest in the financing and securitization of REO-to-rental portfolios continues to be very high and growing, said COO of Green River Capital, Lorenz Schwarz. In addition, “Rating agencies and institutional lenders have identified the property management function as an area of considerable credit risk.”

GRC’s surveillance division aims to meet that market demand.

The new division monitors various risk components associated with “scattered-site” residential property management and provides independent, third-party assessments of portfolio and property management performance using comparisons with “underwritten assumptions and actual market performance,” Schwarz said.

It follows the launch of GRC’s component servicing division, established in September 2012 to provide customized services to investors and lenders entering the REO-to-rental market with an end-to-end suite of tools that facilitate property sourcing, acquisition and collateral underwriting.

The West Valley, Utah-based company also provides proprietary technology and works with a nationwide network of attorneys, brokers, appraisers, contractors and title professionals