Statebridge, a leader in residential mortgage special servicing, announced today that it has hired Brad Young as its Director of Business Development. Mr. Young will be responsible for implementing the business development strategy for the continued growth of the company.

Brad Young has served over 25 years in the mortgage finance/servicing industry. Prior to joining Statebridge Brad served in senior business development roles with several firms in the mortgage industry including GMAC Rescap, Homeward Residential and Castle Peak Capital Advisors.

“Brad’s experience and deep network of contacts will serve us well as we continue to expand” said Kevin Kanouff, CEO of Statebridge. “Bringing on an industry veteran like Brad, who has successfully expanded special servicing and agency servicing platforms will help us to grow not only our special servicing platform but also our move into traditional agency servicing” said Kanouff.

Statebridge’s new President and Chief Operations Officer, Jay Memmott said about Brad’s hire: “It is exciting to have Brad join the team. When I joined Statebridge a few months ago, it was with the vision of taking Statebridge to the next level of servicing. Having Brad on the team is another very important step in that direction.”

Since its founding in 2008, Statebridge has been one of the fastest growing special servicers in the industry. Statebridge management plans to build on that success by diversifying its servicing offerings to include GSE-backed loans.