What’s Necessary for Auction Transactions

McClain: “I believe that a stronger relationship with these agents can help facilitate smoother transactions and improved outcomes for our clients.”

IRVINE, CA—Whether they be online or at live events, auction transactions involve multiple parties and require clear and consistent communication, Auction.com’s Patrick McClain tells GlobeSt.com. McClain was recently hired as the firm’s SVP of auction portfolio operations, a new position. He has managed portfolios of more than 200,000 REO assets over the course of his career and will lead Auction.com’s portfolio-management team toward establishing a “one-stop-shop” experience for sellers from onboarding to closing, regardless of disposition type.

Under McClain’s direction, Auction.com’s portfolio operations will focus on optimizing REO disposition services by establishing enhanced partnerships with third-party vendors, agents and its clients’ asset-management companies. He comes to the firm with almost 20 years in asset management at various companies, having held numerous senior-level positions including SVP/managing director for Atlas Nationwide, where his primary role was leading the REO asset-management-services division. During his tenure with Atlas, McClain was also responsible for the development of the Dallas location and worked closely with the rest of the executive team in its business-development efforts. He also spent 12 years with GMAC Mortgage and served as SVP, responsible for the enterprise REO group. In this position, he was responsible for the management of GMAC’s REO portfolio. He also oversaw the integration of the two REO platforms under the GMAC servicing umbrella and for multiple system integrations.