Default Resource, a nationwide provider of default and origination products and services to the real estate and mortgage industries, has been selected as 2011 “Frederick County Best Places to Work” winner in the medium employer category.

Winners were chosen for not only providing benefits such as health insurance, retirement/401k plans and dental & vision coverage, this year’s winners were also recognized for thinking outside the box with other benefits like on-site gyms, telecommuting, tuition reimbursement, compressed schedule/work week and matching charitable donations.

Frederick, MD and Barnesville, GA – July 18, 2011 – Default Resource, one of the nation’s foremost providers of default management, valuation, and loss mitigation services, announced that Barnesville, Georgia-based United Bank, a fast-growing regional bank, has chosen Default Resource to manage its expanding portfolio of real-estate-owned (REO) properties. Default Resource will be handling a large percentage of the REO portfolio for United Bank through Executive Asset Management, its affiliate for managing default assets.

Under an agreement between both companies, Executive Asset Management will manage United Bank’s properties, enabling the bank to reduce its fixed costs while enhancing net proceeds from the sale of its bank-owned properties. Services provided by Default Resource / Executive Asset Management include property preservation, marketing, valuation, contract negotiation, title, settlement and closing services.

United Bank received approval from the Federal Deposit Insurance Corporation (FDIC) to acquire a number of failed banks in the southeastern United States in recent years. The bank’s assets have recently surpassed $1 billion.

“When it comes to managing bank owned real estate, Default Resource and Executive Asset Management provide unparalleled service and delivery,” stated Scott Swafford, United Bank’s director of special assets. “We were impressed with their reputation and their ability to execute across multiple service offerings, such as property preservation, closing and training services. They are a trusted advisor and we look forward to a long working relationship together.”

“As the real estate market continues to struggle, we are pleased to be working with dynamic institutions like United Bank,” said James H. Zeldin, executive vice president of Default Resource. “Regardless of property type, we designed multiple, customized disposition strategies aimed to maximize asset proceeds and reduce losses.”

About Default Resource

Based in Frederick, Maryland, Default Resource is a diversified financial services company that provides the full spectrum of default and origination products and services to the real estate and mortgage markets. Through its subsidiaries, the company provides REO asset management, valuations, loss mitigation and consulting services for real estate professionals. Founded in 2005, the firm serves top tier mortgage servicers, financial institutions, hedge funds, mortgage insurance companies and governmental entities nationwide. For more information visit www.DefaultResource.com.

About United Bank

Originally chartered as the Bank of Zebulon in 1905, United Bank has grown into a full service financial institution, offering a range of services from traditional banking to securities trading. With 21 bank offices located throughout middle Georgia, United Bank has a proud heritage of building strong relationships, providing exceptional customer service and supporting its communities. The company has the expertise and long-term capital to be a leader in providing financial products and services. Learn more about United Bank by going to to www.accessunited.com.

May 2, 2011 – Frederick, MD – Default Resource, one of the nation’s foremost providers of default management, valuation and loss mitigation services, has launched a new homeownership outreach program geared to helping troubled borrowers stay in their homes while assisting servicers in their loss mitigation efforts. The dynamic program includes initial borrower outreach, door-knocking and in-person initiation of the loan resolution or short sale process. The service is fully compliant with the Fair Debt Collection Practices Act (FDCPA) and may be privately labeled to ensure protection of existing borrower relationships.

“Leveraging our nationwide network of qualified and highly trained personnel, our homeownership outreach program was designed to maximize borrower contact and facilitate asset resolution while simultaneously enhancing the relationship between our clients and their customers,” says James H. Zeldin, executive vice president of Default Resource.

The new Default Resource homeownership outreach program is more than a simple door knock program. It is a scalable, compliant means to enhance borrower interaction. “By utilizing both our diverse vendor network and our cooperative business model, our clients experience lower losses and greater homeowner retention,” adds Zeldin.

A short piece written by Dawn Stevens, Human Resources Director at Default Resource, was published on the Autism Speaks Official Blog. The story details the company’s recent efforts to support the organization by raising money for Autism awareness.

“Getting involved with the Autism Speaks Puzzle Builder fundraiser was an exciting opportunity for our company, Default Resource. Knowing that this was a new and innovative approach to raising awareness and money for autism, really caught our attention,” she said.

So far, the company has raised $1,340 towards its $4,000 goal. More details are available on the company website.

Click this link to the see the story on the Autism Speaks Official Blog.

Frank Marshall, President of Default Resource, was featured in a recent e-mail newsletter produced by SourceMedia, New York, for its National Mortgage News publication.

In his article, Marshall points out that the recent downturn has been hard on new firms entering the REO Management space and urges services who plan to contract with such a firm to perform their due diligence.

“Servicers should take extra care when hiring REO asset managers. Always check the company’s financial condition,” Marshall wrote. “Determine if they have at least six months worth of operating capital, the condition of their receivables, and payables as well has the length of time it takes them to pay their vendors.
Due diligence should always involve calling on client and business (banking) references. It’s important to find out what level of REO assets the company has been managing throughout the downturn.”

Executive Asset Management, one of the industry’s most experienced REO management firms, is one of the companies in the Default Management family. Its executives, Frank Marshall among them, have decades of experience in the business and can answer any question you have about hiring an effective REO management firm.

Contact Frank Marshall today with any questions at (301) 696-6362.

Default Resource is excited to be a part of this innovative fund raising campaign and has joined forces with millions of other people to support Autism Speaks in their efforts. We have set an initial goal of $4000.00 and in 3 days, raised $480.00 towards that goal (see progress update below!). We hope that all of our friends, family, business associates and industry peers get involved in helping us reach our goal. If others want to get involved and build their own puzzles they can go to www.autismspeaks.org and click on the “become a puzzlebuilder” link.

For the past two years, Default Resource has supported Autism Speaks through the “Bike to the Beach Campaign.” Edie Calderon was one of the 80 cyclists who rode from Washington DC to Bethany Beach Delaware (123 miles) this year. The 80 cyclists raised $100,000.00 to help fight Autism.

Giving back is a fundamental part of our company’s culture and a way for us to support an organization that we are so passionate about. Please click on our link and purchase 1 or more puzzle pieces for just $10.00 each to support Autism Speaks.

http://puzzlebuilder.autismspeaks.org/puzzles/show/user/MjMzOA/puzzle/NGNkNDRjNTQ2NWViYg

Facts about Autism Speaks and the disorder they are working to find a cure for:

• Founded in February 2005 by Suzanne and Bob Wright.
• 2008 the Wrights were named to the Times 100 list of the most influential people in the world because of their commitment to Autism Advocacy
• Autism is a general term used to describe a group of complex developmental brain disorders known as pervasive developmental disorders
• Autism inhibits a person’s ability to communicate and develop social relationships and is often accompanied by behavioral challenges
• Autism is now diagnosed in 1 in every 110 American children, including 1 in every 70 boys
• The prevalence of Autism increased 57 percent from 2002 to 2006
• A Harvard School of Public Health report puts the average total medical and non medical costs of Autism at approximately $72,000.00 per child per year.

Puzzlebuilder is a first of its kind social network driven fundraiser

The campaign launched on October 28^th and will run through the end of the year

Anyone can participate and upload photos from their Facebook or other social networking sites and email or post out to friends and family on their site

UPDATE: The team has now raised $1,610!

Frank Marshall was on hand for REOExpo in Dallas earlier this year. REOExpo is a new show to the industry. Frank spoke to RGA’s Rick Grant for a podcast from the show.

Frank has since been promoted to president of Default Resource.

This podcast is 2:33 long.

Frank Marshall from REOExpo