LRES, a national provider of residential and commercial valuations and asset management for the mortgage, banking, credit union and real estate industries, announced June 17 that Ann Song has been named vice president of REO asset management.
LRES offers a full suite of REO asset management services for lenders, servicers and investors throughout the country.
In her new role, Song will be responsible for managing the company’s REO portfolio of up to 2,000 assets and growing the number of REO specialists in the company’s Orange County, Calif., and Phoenix office locations. She will also develop processes to monitor the flow of REO assets and deadlines; ensure adherence to investor and specific state, local and county requirements; and lead the implementation of operational strategies, objectives and processes.
Song, who holds a bachelor’s degree from the University of Southern California, held a variety of management positions for the U.S. Bank National Association within the asset management, REO and quality control departments prior to joining LRES. She has also held management positions with several other lenders.
“Ann’s extensive knowledge in the areas of quality control and REO sales will further enable our company to grow its REO division,” said Paul Abbamonto, chief operating officer of LRES. “Her proven leadership experience and ability to motivate and coordinate diverse groups will help LRES achieve even higher performance and profitability goals.”