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February 2016 - The Coming Evolution

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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47 » VISIT US ONLINE @ DSNEWS.COM Katie Brewer has been in the default servicing industry for more than 12 years and brings a breadth of experience including collections, loss mitigation, regulatory compliance and REO management. She joined Green River Capital in April 2015 as Chief Operating Officer. Prior to that, she held the position of Vice President, Collateral Based Solutions at Ocwen Loan Servicing, LLC, where she was responsible for leadership, service delivery and portfolio performance. She began her career at GMAC ResCap, where she held various management positions, eventually as Vice President of Liquidations. She holds dual bachelor's degrees from Oklahoma State University in Business Administration, with a focus on International Business, and a Bachelor of Arts in Spanish. You're an industry veteran who has been with Green River Capital a little less than a year. What has been your biggest challenge in your first year as COO with the company? e biggest challenge for me has been making the switch from the servicer side to the vendor side. Before Green River Capital, while I routinely worked with and managed vendors, I always had direct control and oversight of investor guidelines and performance. Now, my team and I manage oversight for more than 20 clients, so it's a different mindset. We are knowledgeable about each client's servicing rules, requirements, policies and procedures. Relationship management has expanded from internal clients and a few external clients to all external client relationships. I'm very much enjoying this new dynamic and all of the partnerships and relationships that have already formed. What is Green River Capital's current role in the Single Family Rental space, and do you see that role expanding in 2016? During the past three years, the single-family rental (SFR) market has become an exciting new asset class and Green River Capital has provided services on all of the single-borrower securitizations brought to market. We also created a new platform, called Rental Asset Management and Performance (RAMP), to provide surveillance and reporting as the SFR industry begins its multi-borrower loan evolution. To answer the second part of your question, the SFR market is maturing. We believe there's room for the market to grow and anticipate that our role will expand with it as we develop new ways to address the market's needs. What does 2016 hold for the REO space as the market corrects back to historical norms? Many new asset management companies emerged during the REO 'boom' of the mid-2000s. As REO volumes have normalized, many of those companies have fallen out of the market—leaving Green River and a handful of other players. Consequently, we've seen increased volume over the last year and added clients as well. Our 2016 forecast shows an increase over our 2015 volumes, based on increased market share. at said, the key to our success has been striving to be the best REO management company in the industry, while also diversifying our offerings, expanding into the SFR market and valuation services. What types of technology are being used at Green River Capital to provide REO, SFR, and Valuation and Due Diligence services to clients? How does Green River Capital maintain a competitive edge over other service providers in the real estate industry? Our competitive edge comes from our technology, as well as our collective family of companies. For REO management, we utilize Red Bell Real Estate's Pyramid Platform, a premiere asset management technology. For the SFR products and services, we utilize a suite of technologies, including GRCCU (Green River Capital Collateral Underwriter) for SFR due diligence; Red Bell's BPOFulfillment, which provides market information to support and validate agent findings; and RAMP for surveillance. We're also excited to welcome ValuAmerica to our family of companies and offer its title products and services. What goals do you have for Green River Capital in 2016? For the next five years? Our goals for 2016 and the next five years are the same: to continue to grow and expand our client base, and to increase our overall market share. We intend to remain primary players in both the REO and SFR spaces. Our full suite of SFR due diligence, underwriting, property management and back-up property management abilities provides us with the ability to do so. We also will continue to innovate, enhance and expand our offerings to adapt to the needs of our clients and the market.

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