Stewart Lender Services launches full-service REO asset management division

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HOUSTON
(December 1, 2009) Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title Company, has launched Stewart Asset Recovery (STAR), a full-service REO asset management and disposition provider.

STAR offers a full suite of asset management solutions, specializing in the marketing and management of real estate portfolios owned by mortgage lenders, investment bankers, government agencies and other financial institutions. STAR provides prompt loss recovery and timely liquidation of non-performing assets. It serves as a flexible resource for lenders and servicers seeking asset management assistance.

Stewart Asset Recovery, a division of Stewart Default Services, based in Irvine, California is led by Michael Harris, president. Harris is a veteran of the REO industry with more than 15 years experience within the financing, mortgage servicing and government industries.

"STAR has nationwide coverage, advanced technology and extensive real estate expertise,” said Tom Paschen, president of Stewart Default Services. “We are excited to have Michael lead our national REO recovery business. He has a wealth of experience and a diversified marketing and management background that is beneficial for our clients and Stewart.”

“We’re different from other providers in this space,” said Harris. “We operate on one system to manage workflow, we have an extensive measurement and reporting process, and we work very closely with our clients to tailor our services to their particular business requirements.”

About Stewart Lender Services

Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title Company, is a nationwide provider of centralized origination, loss mitigation and REO asset solutions for mortgage lenders, servicers and investors. With more than a century of experience matched with the industry’s leading technologies, SLS helps lenders, servicers and investors meet the rapidly changing demands of today’s market. SLS has the financial strength, industry knowledge and proven flexibility to perform throughout the lifecycle of a loan. More information can be found at http://www.stewartlenderservices.com.
 
About Stewart

Stewart Title Company, a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), provides a single point of contact for U.S. and multinational customers that require special expertise in closing and underwriting for single and multi-site commercial transactions. Stewart is a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries throughout the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at http://www.stewart.com.

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