Auction.com Names Patrick McClain Senior Vice President Of Auction Portfolio Operations

Proven Industry Veteran is Handpicked to Spearhead Optimization of Company's REO Disposition Services

IRVINE Calif. and SILICON VALLEY, Calif., Sept. 12, 2016 /PRNewswire/ -- Auction.com, the leading online marketplace for foreclosure and bank-owned properties, today announced the hiring of Industry Veteran Patrick McClain as Senior Vice President of Auction Portfolio Operations. In this new position, McClain, who has managed portfolios of more than 200,000 Real Estate Owned (REO) assets over the course of his career, 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.

Patrick McClain

"Patrick McClain is well respected for his deep knowledge of the real estate industry and for his ability to drive teams toward exceeding client goals and objectives," said Javid Jaberi, Executive Vice President of Operations for Auction.com. "I'm confident that his impactful leadership style, commitment to excellence, and bias for action will make him a valuable asset to Auction.com and our entire client base."

McClain comes to Auction.com with almost 20 years of experience working in the Asset Management field. He previously served as Senior Vice President at Atlas Nationwide, where he oversaw asset management services including marketing, preservation and maintenance, refurbishment, title, HOA, vendor management and eviction/relocation assistance, and as a Senior Vice President at GMAC Mortgage, where he was responsible for management of the company's Enterprise REO group. He holds a bachelor's degree from Purdue University.

"Auction.com is the established market leader in real estate sales for financial institutions, servicers and government agencies, and has a long track record of innovation that has delivered a more effective, efficient process for its clients," said McClain. "I look forward to working with the team to create an even more comprehensive suite of Asset Management products and services that meet our customers' evolving needs."

About Auction.com

Auction.com is the nation's leading online real estate transaction marketplace focused exclusively on the sale of bank-owned and foreclosure properties. The company brings a breadth of quality assets to the market, attracting prospective buyers through world-class marketing and leveraging a scalable technology platform to conduct transactions in a transparent, efficient manner.

Auction.com and its parent company, Ten-X, are headquartered in Irvine and Silicon Valley, Calif., with offices in key markets nationwide. Investors include Google Capital and Stone Point Capital.

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SOURCE Auction.com

For further information: Ron Anderson, Strategic Vantage, ronanderson@strategicvantage.com, (770) 715-0655