REO Allegiance has been selected by 24 Asset Management Corp. to conduct property preservation and field services.
The Bayonne, N.J.-based company will provide a custom nationwide property preservation and maintenance program that includes initial and ongoing services, eviction field services, and code compliance. The program will prepare properties for listing and maintain the curb appeal of these assets until they are sold.
"I select our partners based on the quality of their performance, the level of their expertise, and their commitment to consistent high touch service," said Don Maxwell, executive vice president at the minority-owned 24 Asset Management. "REO Allegiance has proven to have all of those qualities and we are happy to be working with them."
Maxwell, who has been in the default servicing industry for more than 25 years, said that many current default assets are located in large cities with a diverse population. He added that less than 5% of the revenue generated from these assets is given to minority-owned or woman-owned businesses in the communities, hurting any efforts to rebuild and redevelop the area.
Maxwell said that was a main reason why the New Jersey company was chosen to complete the field services for assets he owns.
