Freddie Mac Selects Atlas REO Services, Green River Capital to Support HomeSteps® REO Sales, Disposition

MCLEAN, Va., March 9, 2011 /PRNewswire/ -- Freddie Mac (OTC Bulletin Board: FMCC) today announced it has selected Green River Capital based in West Valley City, UT and Atlas REO Services of San Diego, CA to provide sales and disposition support to HomeSteps®, the company's real estate sales unit.  HomeSteps markets a nationwide selection of Freddie Mac-owned homes through local real estate brokers.

News Facts

• HomeSteps is contracting with Green River Capital and Atlas REO Services to expand its capacity to handle expected increases in REO inflow volumes.

• Green River Capital and Atlas REO Services are specialty REO management and loss mitigation providers for mortgage servicers and other financial services companies.

• HomeSteps has had a similar contract with Vendor Resource Management (VRM), a minority-owned company, based in Carrollton, TX since 2006.

• The three third-party vendors will support HomeSteps' core sales and disposition functions, such as valuation, market strategy, listing and closing.  For more information on HomeSteps, see www.homesteps.com.

Quotes:

Attributed to Chris Bowden, Vice President, HomeSteps:

"Green River Capital and Atlas REO Services have the experience and capacity to enhance HomeSteps' capacity to compete and excel in today's housing market. Their selection underscores our emphasis to work with proven real estate professionals who support our commitment to stabilize communities and be responsible stewards of taxpayer resources."

Attributed to Gregg Buckley, Chief Operating Officer and Co-Owner, Atlas REO Services:

"Atlas REO Services is very excited for the opportunity to partner with Freddie Mac in the disposition of their homes.  We are committed to leveraging our years of expertise and industry leading service to build a long lasting partnership."

Attributed to Christopher West, Chief Executive Officer of Green River Capital:

"It is an honor to be chosen by Freddie Mac among numerous qualified companies to assist with the disposition of its REO assets. We look forward to working with such a great company dedicated to maintaining property values and stabilizing communities. Green River Capital's decades of REO asset management experience enables us to support Freddie Mac's efforts and work together toward the industry's recovery."

Atlas REO Services is a full service Real Estate Owned management and disposition firm.  Founded in 2003, Atlas REO has its headquarters in San Diego, CA, and offices in Denver, CO, and Dallas, TX.  Atlas REO Services employs a skilled workforce of more than 180 associates, and provides nationwide service.  Atlas REO Services takes great pride in offering the highest quality asset performance and service to its clients and aims to meet the individual needs of each of its clients.  For more information, see www.atlasreo.com

West Valley, Utah-based Green River Capital (GRC) is a leading REO asset management and loss mitigation provider. The company leverages its proprietary technology and a nationwide network of attorneys, brokers, appraisers, contractors and title professionals to offer scaleable and customized solutions.  GRC provides REO asset management, portfolio valuation/due diligence, and a short sale program.  GRC's sister companies are Green River Financial, a short sale program provider, and Infinity Valuation Services, a BPO company.  For more information, see: www.greenrivercap.com

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets.  Freddie Mac supports communities across the nation by providing mortgage capital to lenders.  Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.  For more information, see www.freddiemac.com

SOURCE Freddie Mac