Mike Morrison began his real estate career in the belly of the beast disposing of REO assets within the 1989 Resolution Trust Corporation, set up to dispose of those assets in the wake of the S&L scandal and crisis. About the RTC, Wikipedia notes:
"The Resolution Trust Corporation (RTC) was a United States Government-owned asset management company run by Lewis William Seidman and charged with liquidating assets (primarily real estate-related assets, including mortgage loans) that had been assets of savings and loan associations (S&Ls) declared insolvent by the Office of Thrift Supervision, as a consequence of the savings and loan crisis of the 1980s. It also took over the insurance functions of the former Federal Home Loan Bank Board. It was first established in 1989 by the Financial Institutions Reform Recovery and Enforcement Act (FIRREA), and was overhauled in 1991."
With the RTC, Mike was responsible for disposing of developed lots, single family developments and commercial properties, working with investors across the country.
Next, Mike naturally gravitated to conducting Broker Price Opinions (broker appraisals for investors) and the sale of REO. He operated as a field representative for several mortgage servicers and banks through his association with Nicola Real Estate in Houston. When a property was foreclosed, he was assigned the initial assessment of the property, which involved estimated repair costs, property security and initial make-ready costs, which then drove the listing price decisions. Mike has prior construction experience, which aided his estimates of property needs and adds to his considerable experience and expertise he brings to the firm and the firm's clients. Mike also holds a Certified Negotiation Expert certification recognized by the Houston Association of Realtors.
Mike is a proud 5th generation Texan. His roots are in the Texas Hill Country but his family moved to Houston in the early 1950’s, which means he has seen enormous changes to the city and metropolitan area over the past decades.
When Mike isn't working, you can probably find him on Luce’s Bayou (Lake Houston) wetting a hook. He might also be spotted in Sattler, Texas trying his hand in the Guadalupe River. If you see Mike, he's always up for a fishing partner... and for swapping fantastic fish tales...
