REDC Taps Fannie Veteran for Default Solutions Division

Foreclosed real estate auctioneer REDC tapped Fannie Mae (FNM) veteran Chip Hidinger to head up its new default solutions division as senior vice president. Hidinger brings more than 16 years of default industry experience including a post at Fannie, where he managed a substantial portion of a servicing portfolio there and all active servicers. He also helped pioneer paperless modifications and the servicing lender initiatives that brought the Home Saver Advance program to the industry. “Chip has tremendous experience, knowledge and leadership in the default industry, specifically in loss mitigation and real estate,” says Jason Allnutt, president of REDC Default Solutions. “We were impressed with his ability to deliver solutions and performance in challenging environments and his professional approach to problem solving is second to none.” Allnutt adds: “He will be taking his experience at Fannie and other mortgage servicing environments and creating a unique short sale program that will mitigate losses for our clients.” Write to Diana Golobay.