Green River Capital Improves Rental, Property Management Program
After the Obama administration recently requested lenders and servicers to propose alternative rental approaches for their REO properties, Green River Capital has made enhancements to its rental and property management program.
Through the REO asset management and loss mitigation provider's program, financial institutions have an option to effectively manage REO properties while helping consumers regain some financial stability. The REO alternative program also helps bank clients preserve and maintain their properties.
GRC's program provides residential property management and rental services on a national and regional basis. The program also handles the disposition of properties identified for liquidation.
Single-family residences, two-to-four family homes and most condominium and townhouse properties will be included in GRC's program.
Former borrowers, newly sourced tenants and bona fide tenants that qualify under the Protecting Tenants at Foreclosure Act will be the occupant participants of the rental program.
Even though the rental program will be operated from GRC's headquarters in West Valley City, Utah, local real estate agents will provide property management in most states. The company qualifies all of its agents to provide management services based on their level of expertise and industry experience.
“With the housing market's continuing challenges, GRC's enhanced, nontraditional servicing program allows our clients to conserve their properties and prevent losses,” said Joe D'Urso, president of Green River Capital. “We have built a large network of agents across the country. We have also established strong partnerships with local and national property management and preservation companies, which ensures positive results for our rental program and success for our clients, while also producing a winning situation for tenants.”