Clayton Holdings LLC, a provider of loan due diligence, surveillance, REO management and consulting services to the mortgage industry and the parent of Green River Capital, LLC (GRC), announced several leadership changes: specifically, Lorenz Schwarz, the President of GRC, has been promoted to a new executive role at Clayton. Tim Reilly will succeed Schwarz as President after serving as GRC’s COO. Patrick Cosgriff, Scott Mowry and Jeff Berg were also promoted to new strategic positions to drive growth, the company said.
Lorenz Schwarz has been named Executive Vice President of Strategic Initiatives and New Business at Clayton. In this new role, Schwarz will lead Clayton’s efforts to expand into other mortgage and real estate business lines and develop a plan for integration of Clayton and Radian. Schwarz has more than 25 years of experience in the commercial and residential mortgage servicing industry. Prior to joining GRC in 2011, he was President of Phoenix Asset Management, LLC, and held top management positions within the industry’s leading mortgage servicers, including Select Portfolio Servicing, Wilshire Credit Corp. and J.E. Robert Co.
Tim Reilly, who had been Chief Operating Officer of GRC, has been named President and will now be responsible for managing all of GRC’s day-to-day operations. Reilly, who joined the company in 2012, has more than 20 years of experience, having held executive positions in default and asset management with Bank United, Deutsche Bank Securities, Impac Companies, ABN-AMRO, and Fairbanks Capital Corp., and serving on advisory boards for Fannie Mae, Freddie Mac and United States Foreclosure Network Attorneys.
Pat Cosgriff, who was Managing Director of Strategic Initiatives, will now be Senior Vice President of Transaction Management. In this role, he will be responsible for the day-to-day operations of the business with full P&L responsibility. Cosgriff has been with Clayton for more than eight years and previously served as Vice President of Finance.
Scott Mowry, who was Senior Vice President of Transaction Management, will be Senior Vice President of Key Client Initiatives. In this role, he will partner with Strategic Account Managers and will leverage his subject matter expertise to market the services offered by Transaction Management. Mowry has been with the company for more than a decade and is a well-trusted name in the marketplace. Prior to joining Clayton in 2003, he was Director of Collections at HSBC.
Jeff Berg, who was Director of Product Development and Strategy, will be Vice President of Key Client Initiatives. In this role, he will continue to focus on product development and will also partner with Strategic Account Managers, leveraging his subject matter expertise to market the services offered by Clayton Fixed Income Services. Prior to joining Clayton in 2007, Berg was Operations Team Lead at Murrayhill Company.
Schwarz and Reilly will report to Joe D’Urso, President of Clayton; Cosgriff will report to Jeff Tennyson, Chief Operating Officer; and Mowry and Berg will report to Tom Donatacci, Executive Vice President of Business Development.
“In order for us to succeed in an ever-changing market, it is important that we play to our strengths and align our executives appropriately with their skills and expertise,” said D’Urso. “I am confident that all of these dynamic leaders will help us meet our clients’ needs and execute our long-term strategic vision.”