Press
MMREM names Jo Ann Kruse Chief Operating Officer
FRISCO, TX (January 7, 2014) — Matt Martin Real Estate Management LLC (MMREM), a national real estate asset management and disposition provider to multiple federal agencies, mortgage servicers, investors and insurers, has named industry veteran Jo Ann Kruse to the post of Chief Operating Officer of MMREM and its subsidiary companies. Kruse brings 30 years of experience to MMREM, focusing on managing business process improvement and risk management within large financial services organizations.
Kruse joins MMREM from the Impac Companies in Irvine, California, where she served in several senior roles over the past six years, including as executive vice president and director of mortgage operations, servicing and default. Under her leadership, mortgage production quadrupled to over $3.6 billion in annual run rate. She also managed a real estate owned (REO) outsource company acquired by Impac in the liquidation of billions in assets, while additionally being responsible for a $17 billion mortgage-backed securities servicing portfolio.
Prior to Impac, Kruse held senior and executive risk management positions at Countrywide, Wells Fargo Home Mortgage, and KPMG. She will be based in the headquarters office at MMREM in Frisco, Texas, where most of the company’s operating units will report through her.
“MMREM has experienced tremendous growth over the last few years, and as we continue to grow in size and business offerings, we need an executive of Jo Ann’s caliber to keep the operations running at optimal levels,” says Matt Martin, chairman and CEO of MMREM. An example of the company’s diversification strategy is Sperlonga, a fast-growing, award-winning unit of MMREM that specializes in resolving claims from homeowners associations and tracking hundreds of thousands of these HOAs across the country. “Sperlonga assists lenders and investors in protecting first lien positions when HOA claims exist and helps ensure the HOAs’ financial stability,” Martin notes. “The company has grown rapidly to about 150 people, and it is just one of our business lines. Jo Ann’s experience in managing growing and complex organizations will be invaluable as MMREM continues to expand,” he says.
MMREM operates nationally from its Frisco, Texas headquarters and offices in Virginia, Pennsylvania and California. The company works extensively with banks, mortgage bankers, servicers, hedge funds, private equity groups and insurers. Additionally, MMREM provides its services to agencies of the federal government, including numerous programs with HUD, the United States Marshalls Service Asset Forfeiture Division, the FDIC and the United States Air Force, as well as state governments, in real estate asset management and disposition services. The company has several new initiatives to announce in 2014 that leverage its core real estate and management expertise, and will spur substantial additional growth.
“MMREM is a very dynamic company with a tremendous future,” says Kruse. “I look forward to bringing my experience to this energetic team and managing the operations as MMREM grows to serve the private and public sectors with the industry’s most effective real estate services.”
About Matt Martin Real Estate Management LLC (MMREM)
Based in Frisco, Texas, MMREM is an Inc. 500 high growth company that provides asset management, loss mitigation and asset disposition services to investment funds, banks, government agencies and other institutions. The company works with servicers on the marketing and disposition of REO assets, and also provides servicers with a complete line of property management services on thousands of properties throughout the country. MMREM provides REO services to the U.S. Department of Housing and Urban Development (HUD) and has conducted more than $2 billion in disposition transactions since 2010. The company is the prime contractor for the United States Marshalls Service’s (USMS’) Asset Forfeiture Division, managing title and disposition of commercial property, residential property, and vacant land ranging from $10,000 to $50 million in value. MMREM also serves as an asset manager and as a provider of real estate advisory services for other federal and state government agencies, including the Federal Deposit Insurance Corporation (FDIC), the United States Air Force (USAF), and the state of Georgia through the state’s Neighborhood Stabilization Program (NSP). MMREM’s wholly-owned subsidiary, Sperlonga LLC, provides identification, delivery, and resolution of outstanding homeowner and condominium account (“HOA”) balances using a proprietary technology-enabled computer database platform. Founded in 2004, the company has a nationwide footprint with additional offices in Pennsylvania, Virginia, Texas, and California. For more information, please visit www.MMREM.com.