Stewart Launches Full-Service REO Asset Management Division

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 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 loss recovery and liquidation of non-performing assets. It serves as a resource for lenders and servicers seeking asset management assistance.

Stewart Asset Recovery, a division of Stewart Default Services, based in Irvine, Calif., 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.”