Default Resource has been selected to manage the REO disposition for United Bank, Barnesville, Ga.
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The Frederick, Md.-based provider will handle the majority of the bank’s REO portfolio through Executive Asset Management, its affiliate for managing default assets.
Among other things, the move aims to enable the bank to reduce its fixed costs and work with a provider that has multiple service offerings such as property preservation, marketing, valuation, closing, title, settlement, contract negotiation and training services.
United Bank recently acquired numerous failed banks in the southeastern part of the nation from the Federal Deposit Insurance Corp.
