Rubicon Real Estate and Mortgages Inc., an Irvine, Calif.-based wholly owned subsidiary of Rubicon Financial Inc., has formed a real estate owned (REO) acquisition and disposition division (RADD).
‘RADD was developed to address our institutional customers' rapidly growing demand for bulk asset pool transactions in real estate-backed assets, which includes performing and nonperforming notes, as well as in bank-owned properties known as REOs,’ explains Thomas E. Jandt, executive vice president of business development for Rubicon.
The company adds that RADD is designed to be unique in its approach whereby its agents identify each buyer's needs and then hand-select one of their clients who are offering an asset pool that matches that need closely. RADD has already established many direct relationships for the liquidation of real estate portfolios and notes with various banks, mortgage servicing companies, hedge funds, institutions, lenders, asset management companies and liquidation attorneys.
