Gryphon USA Expands Auction Group to Better Service Bank REO Marketplace
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COLUMBUS, Ohio, Feb. 2, 2021 /PRNewswire/ Ohio based Gryphon USA has set its sights on a larger, nationwide footprint for the sale of bank owned real estate.
The newly minted Gryphon Auction Group has attracted two veteran asset managers to assist with procuring assignments from banks, servicers, hedge funds and note-holders seeking to quickly and systematically sell foreclosed homes and remove them from their balance sheet. We re expanding to a nationwide model through Gryphon Auction Group, said Gryphon USA principal Rich Kruse. This expansion was put on hold when the foreclosure moratorium was initiated 10 months ago, he added. With the expectation that foreclosures will re-start later this year, we are making the move now.
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COLUMBUS, Ohio, Dec. 23, 2020 /PRNewswire/ Recent actions at the federal level to extend foreclosure and eviction moratoriums on certain sections of the housing market through January will allow the incoming administration of President-elect Biden to revisit the issue after Inauguration Day, according to Columbus distressed assets manager and auctioneer Rich Kruse.
But the Gryphon USA Ltd. principal said adopting that strategy for too long could create risks for the housing market as many landlords and mortgage holders begin to assess the impact on their businesses.
Congress supported the extension of mortgage foreclosures and eviction protections to certain properties through Jan. 31 as part of a second round of support for those facing job loss and other economic stress as a result of the COVID-19 pandemic. A number of federal agencies had already extended the moratorium that were due to expire on Dec. 31.