David Brown, LCDM, MIRM, CMP, has nearly 20 years of experience in Real Estate Marketing & Finance, Management and Sales. Currently, Mr. Brown is employed as VP / Director of REO at First Horizon National Corporation (Parent company of First Tennessee Bank). As Director of REO, Mr. Brown is responsible for all aspects of REO asset management and disposition including foreclosure bidding, asset booking, GL management, asset pricing, regulatory compliance, valuation, preservation, agent selection and management, disposition, accounting, and reporting. In recent positions for First Horizon and IndyMac, Mr. Brown developed and implemented infrastructure and systems for REO management, Specific Valuation Allowance (SVA) models, asset classification methods, predictive asset valuation tools and mark-to-market methodology, introduced models to evaluate after tax capital impact of bulk REO sales vs. individual / retail REO sales, and sold over 2,000 residential and commercial assets totaling more than $400 million through retail, bulk / wholesale, auction, and sealed bid sales. Mr. Brown, through implementing procedures and processes contemplating regulatory, fiscal, and market forces, sells 85% of new REO inventory in less than 90 days above 90% of market value. Mr. Brown graduated from the University of Arizona with Bachelor of Science in Finance and a minor in Real Estate, earned professional designations from The University of California Irvine in both Construction Management (LCDM) and Residential Marketing, and from The National Association of Home Builders in New Home Marketing (CMP) and is a Member of The Institute of Residential Marketing (MIRM).
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