Congratulations to Auction.com’s Steve Price for his recent promotion to executive vice president of foreclosure auction services. Along with the promotion, Auction.com has reorganized parts of the company, which will allow Price’s team to better focus on external relationships, including clients, attorney firms, and county administrators.
“At Auction.com we strive to keep improving,” Price said. “More changes will come over the course of the next few years as volume is expected to return to the platform at levels we have never experienced before.”
Price said the reorganization allows him to unify the corporate vision and streamline decision making, while better directing resources to handle the expected surge.
Hired by Auction.com co-founder Jeff Frieden in 2013, Price left a major bank to take on the newly approved HUD CWCOT 2nd Chance program.
“I loved the power of the Auction.com platform to transform the way default real estate is marketed and sold,” Price said. “I saw widely better results than through the traditional disposition mechanisms, and the entrepreneurial spirit and talent at Auction.com made it easy to make the jump.”
Since then, Price has had many successes while at Auction.com, including:
- Creating a new group called Servicer Solutions with the mission of getting a major bank up and running on HUD CWCOT 2nd Chance within 60 days, and eventually on–boarding the top HUD servicers thereafter
- Creating the technology that servicers still use to administer the program
- Leading the Foreclosure Auction Services, an amazing team that has realized some impressive milestones, including achieving a 99% utilization rate, exceeding $100M in Remote Bid fundings since inception, and reducing pre-COVID OpEx by several million dollars over the past three years
When not running foreclosure business for Auction.com, Price loves to snowboard as well as attend his kids’ football and art events. As everything starts to reopen again, he looks forward to visiting SoFi Stadium, the new home of the LA Rams (and LA Chargers).