Peter Monroe, president of the Resolution Trust Corp. Oversight Board in the 1990s, this week launched a new venture to manage troubled Florida commercial properties.
His partner in the Clearwater, Fla.-based firm, VRM, is Joseph Gaynor, an attorney with a commercial real estate and receivership background.
Besides his stint at the RTC, Monroe was chief operating officer of the Federal Housing Administration from 1989 to 1990.
The RTC resolved and liquidated hundreds of insolvent savings and loans, selling all sorts of assets, including CRE, raw land, securities, and mortgage affiliates.
Monroe said, "Special expertise is essential in dealing with complex Florida commercial workouts because of the challenges of Florida's judicial-only foreclosure process."
