For almost ten years, Phoenix Asset Management has provided best-in-class REO asset management and disposition services to institutional and private clients. Our goal is to add value to our client’s organizations by providing cost effective asset management services and maintaining strong disposition results while reducing costs at both the asset and corporate levels.

Since our formation in 2000, we have managed over 35,000 REO assets across all fifty states. In 2008 we successfully closed over 7,600 REO sales, and in 2009 we closed over 11,600 REO sales. We achieved an average sales price of over 95% of our client’s value, with disposition timeframes outperforming our client’s expectations.

Phoenix Asset Management headquarters are located in Denver, which houses Senior Management and the majority of their infrastructure. We also have a full service office in Salt Lake City, as well as asset managers working remotely. This flexible structure allows us to recruit some of the top talent from the larger servicers, who prefer to work in a smaller, more entrepreneurial environment.

Each member of the Executive Team has numerous years of experience within the mortgage servicing industry, which we feel provides valuable insight into the unique demands found within the environment of a mortgage servicer. We understand the sense of urgency, need for attention to detail, and the complexity of all the moving parts.

Jim Steffen, President
Prior to joining Phoenix in June 2005, Jim spent three years at Select Portfolio Services, where he was consistently one of the top performing REO Asset Managers, handling accounts for their most demanding institutional clients. Jim also spent 2 years in Residential property management after receiving his MBA in 2000 from Westminster College, Salt Lake City, UT.

David Francis, VP
David joined Phoenix in March 2008 after a six-year affiliation with Select Portfolio Servicing, primarily in REO operations. Along with the default operations management background, David brings an additional nine years of experience in the mortgage origination, escrow and title industries, including three years with First American Title, and seven years with SunTrust Mortgage, where he worked his way to the position of AVP of Operations.

Jackie Alsalem, Director of Closing and Title
Jackie Alsalem, Director of Closing and Title Jackie joined Phoenix in May 2005. With over 16 years of industry experience, Jackie has a wealth of knowledge beginning with her days as a Real Estate Paralegal, with extensive experience in Title, Foreclosure, Bankruptcy, Loss Mitigation and Contract Law. Prior to joining Phoenix, Jackie worked with FNAMS for over five years where she held various asset management positions.

Phoenix Asset Management is part of the Phoenix family of companies, headed by Phoenix Capital, Inc.

Phoenix Capital, Inc. ("PCI"). Founded in 1996, PCI's Founded in 1996, PCI’s primary business is the brokerage of mortgage servicing rights (“MSR’s”). PCI also represents principals for M&A activity related to mortgage servicing platforms. Over the past three years, PCI has successfully marketed and traded $215 billion in MSR’s.

Phoenix Analytic Services, Inc. (“PAS”). PAS performs market valuations on mortgage servicing rights for approximately 70 autonomous clients. Over the past three years, PAS has valued MSR’s aggregating to in excess of $85 trillion.

Additionally, PAS has been developing its capabilities with “credit risk default” modeling and forecasting for its clients. Clients have used this “trend analytics” to project staffing needs for the default side of their businesses. Also, clients are using this work product for projecting their portfolio’s future “advance” positions. PCA performs credit risk management services for owners of wholly owned and securitized loan portfolios. PAS has provided surveillance and asset management services on over $600 million in distressed loans and REO assets on behalf of institutional clients.

Learn more about these companies at www.phnxcap.com

Muscular Dystrophy Association

Phoenix companies sponsors the Muscular Dystrophy Association's (MDA) national events. Recently members of Phoenix participated in MDA's "lock-up". The event involves local business and community leaders that agree to be "arrested" for having a "big heart". The Phoenix companies match funds raised by its staff members.

Denver VOICE

In June 2007, Rick Barnes, former CEO of the Phoenix companies, re-founded the Denver VOICE, a newspaper publication devoted to facilitating a discussion about homelessness and poverty issues that exist within metropolitan Denver, Colorado and surrounding areas.

The paper's unique vendor program provides a source of income for those who are homeless or extremely impoverished. The vendor program allows those in need to sell the paper to the public for a dollar. They are also paid a freelance rate for their written contributions to the paper.

After the Denver VOICE went obsolete in 2006, Rick collected a team of journalists to re-launch the paper. In August 2007 it published its first issue, and one year later, 17 homeless individuals have been able to move into permanent housing because of their hard work through paper sales and the opportunity the Denver VOICE gave them.

The VOICE currently circulates 14,000 papers metro-wide. Additionally, Rick is a board member of the North American Street Newspaper Association (NASNA), America's national organization for street newspapers.

Rick Barnes and Anita Barnes are the largest financial contributors to the Denver VOICE while the Phoenix companies are now the largest in-kind contributor. Learn more at www.denvervoice.org

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