Meet the Team
Managing Director – Non-Performing Loan Acquisitions
Mr. Kirsch is responsible for providing oversight for DRI’s acquisition, management, rehabilitation, and liquidation of non-performing loans. Mr. Kirsch was also Managing Principal for American Residential Equities (ARE) and has over 30 years of experience in commercial and residential real estate including long-standing relationships with private and public-sector sellers, such as banks, savings institutions, and mortgage and insurance companies. At ARE, Mr. Kirsch oversaw more than $2.2 billion in mortgage transactions. Mr. Kirsch is considered one of the premier authorities in the non-performing loan sector, speaking frequently on the distressed residential mortgage market. Prior to co-founding American Residential Equities, Mr. Kirsch co-founded one of the largest shopping center companies in Florida, which subsequently sold its assets to a publicly traded REIT. Mr. Kirsch received his BA from the University of Miami and a JD from Brooklyn Law School and has been a member in good standing of the Florida Bar Association since 1975.
Managing Director – Residential Performing Loan Acquisitions and Trading
Mr. Powers has over 30 years of mortgage banking and financial services industry experience. Prior to joining DRI, Mr. Powers was CEO of Homestake Capital and before that SVP- Real Estate Services for Altisource SA and general manager and managing director of Ditech and GMAC Mortgage Direct. Under Mr. Powers’s leadership, Ditech enjoyed a rapid return to profitability, enhanced marketing efficiency and a complete revamping of the brand’s image. Prior to joining GMAC/ResCap, Mr. Powers worked at Metrociti Mortgage Corporation as president of the company’s Western division, managing loan production and operations. He was also an executive member of the company’s board of directors. Prior to his role at Metrociti, Mr. Powers was president of KB Home Mortgage, where he managed the company’s captive mortgage business, insurance, and consumer direct subsidiary. Previously, he served as president and chief executive officer of Charter One Mortgage Corporation for ten years, helping establish the company among the top 20 largest retail loan originators in the nation. At Great Western Mortgage Corporation, he was responsible for production and operations in three regions. Mr. Powers earned a Bachelor of Arts degree from Excelsior College and an MBA from the University of Chicago Graduate School of Business.
Managing Director – Business Development for CDFI and Community Affairs
Mr. Aldridge is a senior finance professional with 30 years of experience in banking, community development, investment banking, and insurance. Among his accomplishments: developed a de novo real estate operation for a nonprofit that generated more than $2 million in net surplus within 18 months. He has also designed alternative financing programs for low income families that were adopted by several large public entities in Michigan to facilitate sales of the Neighborhood Stabilization Program (NSP) and HOME funded housing programs. Previously, Mr. Aldridge directed a $1 billion Community Reinvestment Act (CRA) investment and lending program for a large regional bank that included new market tax credits, venture financing, small business lending, and community development lending. As President of a regional bank’s corporate community banking and investments division, Mr. Aldridge managed a $400 million portfolio of various CRA loans and investments doubling the ROI on the banks community development assets. Mr. Aldridge‘s experience includes developing the first and only successful virtual insurance company that accumulated over $4 billion in assets with a seven-person staff. Additionally, Mr. Aldridge developed a proprietary investment programs for one of the nation’s largest insurance companies that generated over $20 billion in assets over a five-year period. As a Managing Principal for a boutique investment bank, he structured over $1 billion in funding contract transactions over an eighteen-month period. Mr. Aldridge earned a BA Degree in Economics from Harvard College and a Juris Doctor from Wayne State University.
Managing Director and Chief Operating Officer
Prior to joining DRI, Mr. Kirsch was Senior Vice President at Westbourne Capital, a real estate private equity firm, where he was responsible for performance and oversight of the firm’s portfolios of distressed loans, REO and affordable housing. From 2006 to 2009, Mr. Kirsch was Vice President of Loan Originations and Acquisitions at Seabreeze Financial, a private alternative lender, which provided financing to borrowers and businesses that lacked access to traditional credit. Mr. Kirsch was an integral part of the management team in charge of business development and was responsible for the origination and acquisition of over $100MM of commercial and residential loans. Earlier, Mr. Kirsch began his career at American Residential Equities (ARE), an investment firm specializing in distressed residential mortgages. While at ARE, Mr. Kirsch participated at all levels in the acquisition and management of $2.2B loan portfolios. Mr. Kirsch received a Master of Science in Real Estate Development from Columbia University and a Bachelor of Business Administration from the University of Miami.