Surviving Current Default Servicing Industry Conditions


Richard Johnston, SVP, joined Bankers Asset Management in 2003, to re-organize and develop the process workflow, policies/procedures, and specific protocols for all divisions at BAM in the preservation, marketing, and liquidation of bank-owned assets nationwide.  Richard has instituted numerous quality control/reporting measures to ensure client expectations in BAM providing quality full-service asset management services to all Clients.  In addition, Richard manages BAM’s Outsourcing Division, which assigns thousands of drive-by BPOs per month for due diligence, loan modifications, and short sales.  Prior to joining BAM, Richard was the REO Manager and Executive Broker for Crye-Leike Realtors, Central Arkansas REO Division, which specialized in handling all facets of the marketing/management of REO properties in Little Rock, AR and surrounding areas.  During that time, he dealt with numerous asset management companies, as well as Fannie Mae and Freddie Mac.  In addition, Richard also worked in a management capacity for World Savings & Loan Association, handling various aspects of mortgage servicing, with an emphasis on customer service and collections/work-outs.  Richard is a seasoned real estate/mortgage professional with a broad spectrum of REO industry experience, with specialties in mortgage servicing, loss mitigation, default servicing, asset management, REO property management, real estate sales, liquidations, property valuations, property preservation, and outsourcing.

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