Philadelphia, PA (PRWEB) November 15, 2009
Mr. DeSeve currently serves as Special Advisor to President Obama for American Recovery and Reinvestment Act implementation. He reports directly to Vice President Joseph Biden as an Assistant and acts as a Senior Adviser to the Director of the Office of Management and Budget, Peter Orszag.
Mr. DeSeve has also held senior posts at all three levels of American government. At the federal level he was:
New York, NY (PRWEB) November 24, 2009
Standard & Poor’s Fixed Income Risk Management Services (FIRMS), an analytics and research unit separate from S&P’s ratings business, and Experian
Bryn Mawr, PA (PRWEB) December 1, 2009
J.G. Wentworth affiliates have paid off, as scheduled, approximately $ 137 million of notes from 1997 and 1998 securitization transactions according to Chief Investment Officer Stefano Sola.
The notes were backed by payment streams from structured settlements. Structured settlements are personal injury settlements paid out to claimants over time. The payments are funded through annuities issued by insurance companies.
The notes, J.G. Wentworth Receivables I LLC, Series 1997-1, and J.G. Wentworth Receivables III LLC, Series 1998-1, were paid off on September 15 and June 15 2009, respectively.
According to Mr. Sola, the J.G. Wentworth affiliates paid 100% of the obligations owed. The successful repayment of the notes on a timely basis demonstrates the integrity and stability of the underlying assets, Mr. Sola said. He added that the steady payment streams from the underlying structured settlements highlighted the very low correlation to the broader markets during the recent period of significant distress among most asset backed securities. There were no defaults and investors benefited from timely principal and interest payments, Mr. Sola said.
Structured settlement or annuity backed notes are fundamentally different than most asset backed securities in that they are less directly tied to general economic conditions and less directly tied the credit markets, Mr. Sola said. As such, they continue to offer investors attractive risk reward characteristics.
About the J.G. Wentworth family of companies:
J.G. Wentworth, Inc., based in Bryn Mawr, PA, is the nations oldest, largest and most respected buyer of deferred payments for illiquid financial assets like structured settlements and annuities. Since 1992, J.G. Wentworth has purchased over $ 4 billion of future payment obligations from consumers and is also the nations largest securitizer of structured settlement and annuity backed notes.
For more information about J.G. Wentworth, visit http://www.jgwentworth.com.
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Stockbridge, GA (Vocus) December 4, 2009
Fairfield Funding is excited to announce the addition of Marc Harris, an attorney with almost 14 years of experience in the cash flow business with an emphasis on facilitating the purchase of structured settlement annuities and lottery prize assets, to their skilled team of financial service specialists. Fairfield Funding is a funding company that specializes in helping people receive cash for structured settlement, annuity, and lottery payments. In order to make sure every customer receives full compensation for their future settlement or lottery winnings, the Fairfield team strives to maintain a workforce that is dedicated to providing accurate information and exceptional service. Mr. Harriss abundant knowledge and outstanding reputation in the financial services industry undoubtedly makes him a great candidate for the position of General Counsel for Fairfield Funding.
Since 1996, Marc has worked as counsel in the asset securitization industry for two different companies that have processed over one billion dollars from those seeking to sell lottery winnings and structured settlement cash flows. He has extensive experience with each states legislative and regulatory process relating to the purchasing of these assets throughout the country. This knowledge is invaluable to the funding profession, because almost each state has its own specific law controlling the assignment of annuity or lottery winnings.
Marc is a 1992 graduate of Florida State University, and he earned his law degree from Nova Southeastern University in 1995. Aside from advising companies and their clients about smart and effective funding, Marc is also a professor of business law. His knowledge of structured settlement laws and experience teaching others make him the perfect fit for Fairfield Funding.
Boca Raton, FL (Vocus) December 15, 2009
Client First Settlement Funding, a growing structured settlement funding company offering lump sum payments to structured settlements and annuities owners, has hired Lisa Rae Donato as chief marketing officer and Dan Fischer as chief financial officer.
“I’m looking forward to creating a dynamic marketing program for Client First,” Donato said. “I am already at work on building a new Client First website and creating a structured settlement guide for our clients. I am dedicated to getting into our clients hands the information they need to make the wisest financial decisions possible.”
Lisa Rae Donato has more than 20 years of experience in the field of marketing. She founded Internet Marketing Press, a marketing consulting company, and co-authored 26 eBooks on the subject of Internet marketing. Donato has created and managed marketing strategies for several domestic and international companies. With a background in graphic design, she has designed and implemented numerous print and online marketing campaigns.
“I’m glad to have joined Client First during this exciting time of growth. I believe this company is committed to helping each client find that brighter financial future and I intend to contribute all the expertise I have towards that,” Fischer said.
Fischer has more than 20 years of experience in the financial sector. During his 14-year tenure with ABN AMRO Bank, he helped create and manage the residential and commercial real estate capital markets divisions. Fischer has extensive experience in securitization and whole loan sales and structuring, completing more than 50 domestic and international public and private securitizations, totaling over 20 billion dollars in issuance.
About Client First Settlement Funding, LLC:
Located in Boca Raton, Florida, Client First Settlement Funding specializes in purchasing and selling structured settlements and annuities nationwide. Since Client First is a direct funder, it can get clients the most money for their structured settlement or annuity based on individual needs and circumstances.
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(PRWEB) January 13, 2010
Eurotex Finanz Inc. (KFE), a rapidly-growing worldwide innovator of financial products and services, has been accepted for listing on the Frankfurt Stock Exchange trading under ticker KFE and first day of trading will be January 5, 2010.
Eurotex is headed by one of the world’s youngest self made millionaires, Calgarian James Timothy White. At age 24, James now holds the honour of being the youngest CEO in the world of any company listed on the Frankfurt Stock Exchange, (replacing Jochen Zeitz, CEO of Puma at age 30). A modern working-class hero who made his first million by the age of 16, White says his budding empire’s rapid growth is based upon his goal of helping change the lives of working middle class men and women like his parents, through better investing.
“I see James as the smartest, wisest and most brilliant, young, value-creating entrepreneur on the planet. He is destined to create financial freedom for all.”
Los Angeles (PRWEB) February 3, 2010
Bluestone continues to meet the needs of investors and entrepreneurs by expanding its firm with the addition and opening of the Preferred Wealth Center, on April 9, 2009. This new conglomerate contains the companys five operations which include Bluestone America, Bluestone Wealth Management, Preferred Wealth LP, Bluestone Holdings, and the Bluestone People Foundation. The intent of this collective grouping will be to make all areas of Bluestones core more accessible to the large and small investor and/or entrepreneur.
Bluestone America, Inc. specializes in asset management, asset based project securitization, funding and alternative funds acquisition and its corporate headquarters are based both in the U.S. and offshore. Bluestones Wealth Management division is committed to examining all options for ones future through careful coordination and review of insurance and investment portfolios, business and securities services, risk management and retirement strategies. Bluestones Preferred Wealth, LP is an investment opportunity that aims to be the new standard for the next generations debt investments for securitized investments. Preferred Wealth provides the alternative strategy accessing debt and equity through a variety of securities exchanges. This is done through the use of Longevity Asset Instruments which allow investors debt investments to be backed by a 5:1 securitization of the investors investment.
While faced with the difficulty of dealing with a market correction in commercial real estate not seen in years, Bluestone Holdings has managed to provide alternative funding strategies for short term and long term growth for the economy as well as the possibility of building an important profit margin within the Bluestone America company. Bluestones People Foundation is a place of advancement and progress for entrepreneurial and creative businesses to secure capital for long term growth that will have great influence in economies, both, locally and globally. Bluestone People Foundation acts as a guide in offering advice to entrepreneurs based in market penetration, capital acquisition and financial structures. Beneficiaries of the foundation fall under non-profit and traditional organizations.
About Bluestone America
Bluestone America is a conglomerate of United States and offshore-based corporations whose focus is asset management, asset based project securitization funding and acquisition of alternative funds. The members of the management and advisory boards of the Bluestone group of companies have broad based expertise in financial business development and banking in the Middle East, United States, South Korea, Brazil, Taiwan, Hong Kong, China and other key international financial and business centers.
Bluestones management and advisory board members are multi-cultural representing Asia, South America, North America, Africa and the Middle East. Bluestone America has developed various methods of securitizing asset based long-term real estate development projects using Non-Correlated Longevity Assets. These methods and techniques are proprietary intellectual properties developed and owned by Bluestone America.
For more information on Bluestone America:
Info@BluestoneAmericaInc.Com
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San Francisco, CA (PRWEB) February 10, 2010
The panel consists of the best and the brightest consumer, real estate, bankruptcy and tax experts. Daniel Mulligan, nationally recognized consumer advocate and class action specialist and Pamela Simmons, co-author of California Mortgages, Deeds Of Trust, and Foreclosure Litigation will teach an advanced course in secured real estate transactions, truth in lending, securitization and the Mortgage Electronic Registration System, and current options to help homeowners stay in their homes or to negotiate the least detrimental way out.
Cathleen Cooper Moran will address bankruptcy court issues. William Joseph Purdy III will cover the all important tax impacts of foreclosure, bankruptcy, and debt relief. This full day seminar is being offered on February 17, 2010, 8:30 am to 5:00 pm at the Bar Association of San Francisco, 301 Battery Street, 3rd Floor, San Francisco, California.
Space is limited so register today at (415) 982-1600 or http://www.sfbar.org/calendar (click on February 17th event for more information or to register)
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Dawsonville, GA (PRWEB) February 10, 2010
A previously undetected title flaw has been discovered on many previously foreclosed properties. As the number of real estate foreclosures skyrockets, the odds are higher that a home you live in today, or at some point in the future may have had a foreclosure in its history. Even if the foreclosure has long since passed, a loophole in the way mortgages are recorded can create a serious title defect for future owners. Title analysis performed this month by AFX Title has detected this error to be common in random samples of properties it reviewed. “This could affect the property ownership of millions of homes nationwide” said David Pelligrinelli, of AFX Title. “The mortgage recording method which created this title flaw did not exist until recently. As title abstractors are just seeing this problem emerge now but a wave of title claims is coming over the next year or so.”
The problem is created through a break in the chain of mortgage ownership. Until the 1980s, most mortgages were loans between the homeowner and a bank, who lent the money directly. More recently, the mortgage financing system transformed into an international system of securitization, with mortgage lenders packaging their loans into securities, bought and sold by investors like stocks. These transactions even split individual mortgages into sections, where each loan could have parts owned by different investment banks.
The transfer of ownership in these mortgage backed securities (MBS) was done with contracts on the balance sheets of Wall Street investment banks, such as Morgan Stanley and Goldman Sachs. The company who originally appeared to make the loan was normally a retail lending company such as Countrywide or Lending Tree, who typically acted as a sales company, and sometimes remained contracted to service the loan.
In the event that the loan goes into foreclosure at a later date, the then-current owner of the loan files the foreclosure and sells the property to a new owner, often at auction. The land records would show a deed of transfer from the investment bank to the new owner. This creates a break in the chain of ownership of the mortgage rights. In many cases, the transfer of ownership of the mortgage loan has gone from the original lender, through several owners, and then to the foreclosing bank, none of which is recorded on the property title history. Technically, the foreclosing bank has no recorded title rights to foreclose in the first place. Owners of the loan normally do not publicly record each of the transfers out of expediency, and cost. Filing a document of transfer (called an assignment) in the land records incurs a substantial fee paid to the county clerk.
Some delinquent homeowners have used this error to delay the foreclosure, forcing lenders to produce the note. In these cases, the bank has to go through the process of getting assignments to the foreclosing bank after the fact. However, the title repair process is not required however in the majority of cases when the homeowner does not contest the foreclosure.
This leaves the break in chain of title dormant in the property records, vulnerable to be contested in the future. A few largely overlooked cases have already been decided by courts on this issue. In Lowell MA, a judge invalidated the foreclosure of homes based on missing and out-of-order assignments (US Bank v Ibanez).
Unraveling the chain of title and clarifying ownership of loans will create challenges for the courts and legislative bodies in all states. In the meantime, homeowners and buyers should be aware of how this could affect their property title. There are reports that some title insurers are indicating that they will not insure for this title defect.
As a national provider of property title searches, AFX Title is seeing an increasing number of files where the chain of title has obvious gaps in the recorded mortgage assignments. According to Pelligrinelli, the issue is serious. When running searches for clients, we are noticing that a significant number of previously foreclosed properties have unconnected chain of assignments in the mortgage history. This could represent a title defect which could technically affect ownership rights for future owner.
Pelligrinelli adds that some lenders and government institutions are rushing to repair the titles on lender-owned properties as they discover them in their portfolio. This does not help individual owners who own properties previously foreclosed.
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Los Angeles, CA (PRWEB) February 18, 2010
On April 9, 2009, Bluestone America announced the initial release of its Preferred Wealth PPM offering. This PPM is projected to be the cutting edge standard setter for future debt and securitized investments and it is our goal to make this available to all institutional and accredited investors. Bluestone America intends for its Preferred Wealth PPM to be a key player in providing instruments which command high ratio securitization of debt for all global markets.
The new PPMs advantages include No volatility and No market risk as the investment is not tied to any stock, bond, mutual fund or any other deterring market factors that may come in to play. The PPM has a minimum 5:1 Securitization ratio where every investors dollar is backed by Longevity Assets equaling 5 dollars. The current fixed rate of return on the instrument falls between nine and twelve percent (9-12%) per annum coupon rate. Required is an initial minimum contractual period of twelve (12) months with the option to extend that contract for additional periods.
If the investors choose, they may fund their investment through the use of their existing qualified retirement plan. There are no early withdrawal fees and investors can rest assured that the retirement funds are controlled by a qualified custodian. Management fees are increasingly lower for each successive year of participation. Historically, managed Longevity Asset ownership has seen a double-digit rate of return the past sixteen years.
The investing strategy of this new PPM is a buy and hold to maturity of a diversified portfolio of United States based life insurance policies called Longevity Assets. The monitoring of specific areas of individual insurance companies such as exposure to, credit rating classes, individual insured persons and classes of health impairments, helps us to achieve the diversification that is needed for the fund.
The Preferred Wealth PPM offers two different debt instruments to potential investors. The first is the Traditional Program and embodies one revenue stream which is a fixed return of nine (9%) to twelve percent (12%) per annum as a gross coupon rate with a three percent (3%) Management Fee. The second program is The Deferred Dividend Program which allows the compounding of the investment, delivering a substantial increase in the projected Annualized Net Rate of Return.
The new PPM will give financial advisors and fund managers an opportunity to present all possible risks to the investor and how this private placement has overcome each of them with simple historical actuarial data. There are no derivative factors at work here, states Charles Nam, CEO of Bluestone America. For too many years we have had to direct our clients into unsure and risky investments or safe investments with very poor returns. The Preferred Wealth PPM is a product you can feel good about directing your client into.
About Bluestone America
Bluestone America is a conglomerate of United States and offshore-based corporations whose focus is asset management, asset based project securitization funding and acquisition of alternative funds. The members of the management and advisory boards of the Bluestone group of companies have broad based expertise in financial business development and banking in the Middle East, United States, South Korea, Brazil, Taiwan, Hong Kong, China and other key international financial and business centers.
Bluestones management and advisory board members are multi-cultural representing Asia, South America, North America, Africa and the Middle East. Bluestone America has developed various methods of securitizing asset based long-term real estate development projects using Non-Correlated Longevity Assets. These methods and techniques are proprietary intellectual properties developed and owned by Bluestone America.
For more information on Bluestone America:
Info (at) BluestoneAmericaInc (dot) com
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