About Default Resource

Mission Values Brand

To provide our Client’s the most professional services
available through a proactive team of professionals
who understand the true importance of results while
providing excellence and integrity.

This requires powerful people operating
in a powerful environment.

Value Proposition

To create value, earn trust, deliver results, exceed expectations, and empower our people.

One Resource. Multiple Solutions.
Operational Excellence. Client-Centric Service…

Company History

The Default Resource Team has managed the disposition of more than 200,000 REO assets going back to 1985.The Default Resource team has sold more third-party REO properties than any other team in the business. We believe that experience counts…

DR was established in 2005 in response to the capital market and the mortgage industry’s need for professional third-party property valuation services, and other related default outsourcing solutions.

DR offers a broad array of defaulted loan, lien, asset and REO management services. These services are designed to satisfy the individual needs of clients while delivering competitive financial returns that promote business growth and expansion.

Our Senior Management team consists of eight highly respected practitioners with over 170 years of varied and complimentary default servicing, real estate brokerage, and auction sector experience. We are not a group of unfamiliar individuals gathered together for the purpose of managing and operating a company or business division.

Keys to our success – Superior People, Technology, and Financial Resources!

Client satisfaction
Servicing 15+ Clients with unique and differing needs; the organization exceeds its Client’s expectations everyday
Performance Management Systems
Exceed industry leading performance metrics
Technology Leader
Proprietary, state of the art REO Asset Management system, valuation technology, and online Hazard Claim management system delivered in a secure, safe environment with resident development capabilities
Superior Team
Management team is eight deep, with a combined 160+ years experience managing REO disposition at scale and on a nationwide basis. They have sold in excess of 200,000 REO assets over the past 10 years!

Management Team

Glen Calderon, Vice President Business Operations

Glen previously held the position of Director of the Corporate Services Group (CSG) at Prudential Action Real Estate in Metro NY. Started CSG with under $2 million in Sales in 1993 and grew to more than $160 Million in 2004 #1 Prudential Real Estate Agent for closed transactions in NY State from 1994 to 2004 (3,000+ agents) 2001, 2002, and 2003 REALTOR Magazine Top 100 RE Agents Awarded "The Pinnacle" 2000-2004 as one of the Top 10 agents for closed transactions out of the 50,000+ Prudential nationally, #1 agent in t he US in 2004 2001 and 2004.
Mr. Calderon was given Special Community Service Awards by the US Congress primarily for work with first time homebuyers in Brooklyn and Queens promoting homeownership in these underserved areas Appointed to the Homeownership Committee for Neighborhood Housing Services (NHS) of NY City in 2004.
Contributor to and featured in the book, "The Millionaire Real Estate Agent”.

Don Davis, Vice President Business Development

20+ years of experience in Mortgage Banking and the financial Services industry.
Served as the Subject Matter Expert and performed Quality Assurance Reviews for Regis and Associates CPA on HUD contract FTW-00395 REO Marketing and Management Review to ensure that all objectives of HUD’s REO disposition program were met, and that the M&M Contractors were in full compliance with contract requirements.
Provided support as Subject Matter Expert to Converge Networks on Fannie Mae’s Anti Fraud Market Analysis Project.
Project Manager and Key Subject matter expert for DynAccsSys in the development of default claims processing system “MaxClaims” for Fidelity Information services.
Held Senior Management positions in Servicing operations for two of the nation’s top ten Mortgage Servicer’s, First Nationwide Mortgage and Wells Fargo Home Mortgage.
Was an essential member of the Wells Fargo New Business Development team working to establish new business lines for the company, such as Private Label Sub-Servicing and Sub-prime Servicing. Team Lead for Wells Fargo project team for the development of Smart Loss Mitigation Application. The first iteration of what is today know as ER®.
Established for Wells Fargo Home Mortgage an REO outsourcing operation “Premier Asset Services” to provide REO disposition services for third party clients and Servicers. Established a Nationwide broker network to handle Marketing and sale of assets. Established programs with origination branches to handle financing needs of new buyers to expedite the sale of assets and drive down inventory hold time.
As a member of First Nationwide Mortgage Sr. Default Management team established initial Industry trend of using multi vendors for outsourced foreclosure processing on a monthly average of 12,000 pre and post sale foreclosures and 6500 bankruptcies to reduce losses below industry standards the current industry standard.
Managed one of the nation’s first Loss Mitigation operations established to modify high risk adjustable rate mortgages resulting in Multi-million dollar savings on potential foreclosed properties.

Brian Dawson, Vice President Quality Assurance

Mr. Dawson was previously employed as the REO and Valuations Supervisor for Premiere Asset Services, an operating entity of Wells Fargo Home Mortgage. He directed a department that oversaw the evaluation and inspection of over 300,000 properties annually.
Mr. Dawson was responsible for client and investor relations, profitability, financial and operational reporting, recruiting and retaining staff, training, and technology implementation. He played a key role in the integration of a web-based system which allowed for client, vendor and internal bidirectional communication, real-time product delivery and status updates. Valuations and Inspection department grew from 2,000 in monthly volume in 2003 to over 30,000 in monthly volume for 2007.
At Wells Fargo Home Mortgage Brian was acknowledged as the first recipient of the “Above and Beyond” award for meeting and exceeding corporate goals and mission expectations.
Prior to joining Wells Fargo Home Mortgage, was an Assistant General Manager for the Marriott Corporation where he oversaw the development and management of the Fairfield Inns brand for Frederick County, Maryland.
Mr. Dawson is a Licensed Appraiser in Maryland, Pennsylvania and West Virginia.

Mark Hiatt, Vice President Product Development

Most recently Mark held the title of Director REO Operations for Fannie Mae’s National Property Disposition Center. From 1994 to 2004, worked for Freddie Mac as Director of Business Operations in McLean, VA where he helped develop multiple Loss Mitigation Programs and Strategies. He managed the team that established the Servicer Report Card. Was responsible for Accounting, Closing, Evictions, Title and Valuations for Freddie Mac’s Homesteps REO Division. Coordinated the development of the BPO Direct division, one of the first web based evaluation and inspection platforms as well as HomeSteps Connect, a web based REO Asset Management system. Most of these initiatives and programs are still in use today.
As COO of Transworld Mortgage, a 300 employee mortgage servicing company, created a joint venture wholesale production unit which enable sale of portfolio run off which increased productivity and profitability. Lead efforts to purchase bulk mortgage servicing.
Was also Director of Lender Administration for Fannie Mae from 1985 to 1991 where he was responsible for managing Loss Mitigation and Credit Losses from Default and REO assets

William Krueger, Vice President Consulting Services

Previously was the Residential and Commercial Property Valuation Director for GMAC/RFC, Ocwen Financial and Wells Fargo Bank (1987-2005). At GMAC/RFC, was responsible for financial, operational performance, and technical development of unit to value 100,000+ sub and nonperforming residential assets on nationwide basis through 5,000+ vendors.
At Ocwen, was responsible for the valuation of all distressed residential and commercial real estate properties. Directed and managed department that valued over $12 billion in distressed residential and commercial real estate. Coordinated development of data warehouse to provide analytical support for institution's real estate investment and servicing operations. Was a key contributor in the creation of a new business line, Ocwen Realty Advisors.
At Wells Fargo Bank, responsible for the valuation of over $5 billion in distressed and performing commercial real estate assets. Mr. Krueger authored Commercial Real Estate Lending Policies in compliance with FIRREA.

Paul Magaha, Vice President Hazard Recovery

Previously Vice President and Direct at First American Field Services with responsibilities in Asset Risk & Property Management.
At First American (2001-2007) oversaw national network of subcontracted technicians and varied property management professionals that performed diverse services primarily for the Default Mortgage Servicing sector.
Responsible for performance metrics, vendor selection and management, purchasing, technical system design, financial results and reporting.
At LFC Nationwide (1993-2001) spearheaded, designed and implemented an Insurance Mitigation model that many firms still use today and is recognized as industry Best Practice.
Business unit at Standard Federal Savings (1988-1993) was responsible for inspection, preservation and repair for over 11,000 REO and foreclosed properties nationwide. Developed and automated invoicing system for managing property services invoices and insurance claims.
Current President of National Assn of Mortgage Field Services (NAMFS).
BA and MA from Syracuse University, Paul oversees daily operations for Hazard Recovery.

Frank Marshall, Vice President Client Relations

More than 20 years diversified mortgage servicing experience gained in management level service to Mortgage Bankers, GSE, and national 3rd party outsourcing companies. Primary focus has been in the area of Default Management, including Loss Mitigation and REO management.
Prior to joining Default Resource, Mr. Marshall was employed by Premiere Asset Services, an operating unit of Wells Fargo Home Mortgage, managing the disposition of more than 35,000 REO assets and overseeing the delivery of more than 40,000 BPO’s monthly to its clients and investors.
Mr. Marshall’s career is highlighted by senior management positions with leading companies. He was vice president of REO for Clayton National, Inc., REO Director Prudential Asset Recovery, and served as a REO operations manager with Freddie Mac.
Mr. Marshall is thought of as an industry expert and is a frequent industry speaker and contributing writer.

Gary Tolbert, Vice President Evaluation Services

Mr. Tolbert previously worked as a business and product development consultant for such Companies as Advanced Field Services, Core Logic, and eNeighborhoods.
He worked for Freddie Mac from 1986 to 2004, where Mr. Tolbert held a number of Director and Managerial positions including Manager of Single Family REO Operations, Project Manager of Third Party Relations, Senior Business Analyst for Collateral Assessment and Director of Strategic Information Services. While at Freddie Mac, Mr. Tolbert was responsible for a number of projects and initiatives including the integration of Information Services across multiple Freddie Mac business units and platforms, development and marketing of AVM and Appraisal alternatives and Freddie Mac’s eventual reselling of AVM products in the 1990’s, as well as managing daily operations and third party relationships for these units.
Mr. Tolbert had direct relationships for Freddie Mac with a number of organizations including FDIC, HUD, OTS, RTC and many top mortgage originators, servicers, and vendors.