Titanium Launches REO Unit

Titanium Holdings Inc., a Fort Mill, S.C., firm that contacts troubled homeowners on behalf of mortgage servicers to discuss loan workouts, has started a unit for when such efforts fail. The unit, Excellen REO, helps Titanium clients unload repossessed properties. Its services include premarketing, valuations, marketing and sales negotiation, closing and funding and alternative sales methods. Excellen has "a nationwide network of real estate brokers and local eviction attorneys as well as property preservation companies," Titanium said. Excellen's president, Cary Sternberg, is the former senior vice president of the real estate owned department for American Home Mortgage Servicing, Coppell, Texas, which is owned by the private-equity firm Wilbur Ross & Co. LLC. In that position Mr. Sternberg managed more than 200 employees and 33,000 assets.