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Holtmeyer & Monson Appoints Executive Vice President and Vice President

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Memphis, TN (PRWEB) October 25, 2011

Holtmeyer & Monson announced today two key executive appointments. The company has promoted Penny Newbauer to the position of executive vice president and has hired Josh Miller as vice president to play integral roles in driving and strategically supporting the companys ongoing expansion. Holtmeyer & Monson has experienced a 30 percent increase in Small Business Association (SBA) loan closings since this time last year and has recently added eight more banks to its client roster.

After building an extensive career in corporate business and the financial services industry, Ms. Newbauer joined Holtmeyer & Monson in 2006 as vice president and national servicing manager. She has been responsible for providing guidance in the proper preparation of closing documents for SBA loans, as well as 1502 reporting, payment setup and processing and the development of servicing requests for SBA and Colson approvals since that time. In this expanded role as executive vice president, Ms. Newbauer will manage the companys overall loan servicing function as well as portfolio management and compliance.

Mr. Miller has joined the company from Paragon National Bank in Memphis where he was a vice president. For more than a decade, he has served in various commercial finance capacities. As vice president at Holtmeyer & Monson, he will manage all aspects of the companys lender account relationships across the country.

Endorsed by the Independent Community Bankers of America (ICBA), Holtmeyer & Monson offers the full spectrum of SBA lending services from training staff and loan application and closing services, to securitization and sale to the secondary market and portfolio servicing. The company enables banks to extend much needed capital to small business borrowers; at the same time, freeing the institutions from the complexities and inherent bureaucracy associated with SBA lending. Holtmeyer & Monsons unique fee structure enables banks to generate a great deal of income without incurring net costs because fees are capitalized right into a borrowers loan.

Within three months of forging our partnership with Holtmeyer & Monson this year, we efficiently closed or received agency approval for five SBA loans, said Charles Ruyle, EVP/Operations Director at Citizens Bank of Rogersville in Missouri. The first three generated non-interest fee income equal to what we would normally achieve in two years from other sources. Holtmeyer & Monson has been very key to our success with some fairly complicated SBA lending requirements; we are now not only able to fulfill the needs of local businesses, but also capture an alternative source of revenue.

Penny and Josh are skilled bankers, but even more importantly, they understand the nuances of SBA lending and what it takes to bring these loan opportunities to a successful close for clients, like Citizens Bank of Rogersville, said Arne Monson, president and co-founder, Holtmeyer & Monson. Their contributions will be instrumental in moving the company forward and helping us to continue providing highly specialized services that enable banks to enhance their profitability through government-guaranteed lending.

About Holtmeyer & Monson

Holtmeyer & Monson provides banks with comprehensive, out-of-house services and the high level of expertise required for SBA lending. The Company helps community banks offer small businesses access to capital while benefitting from a highly lucrative source of fee income. Holtmeyer & Monson covers every stage of the process from loan packaging and closing, to securitization and sale, through portfolio servicing. Based on its full-service capabilities and credibility, banks can be confident that their SBA lending credits will be handled expertly, efficiently and with the highest levels of safety and soundness. Visit http://www.holtandmon.com for more information and subscribe to our bi-monthly newsletter, SBA Lending Matters.

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Multi-Party Suit Filed by Homeowners Against JP Morgan Chase et al

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Roseville, California (PRWEB) October 27, 2011

On Tuesday October 18, 2011, United Foreclosure Attorney Network (UFAN) filed suit in Superior Court in Martinez, CA (case number C-11-02390) on behalf of numerous homeowners against JP Morgan Chase and others alleged by Plaintiffs to be involved in a scheme to defraud and otherwise take advantage of investors and borrowers.

The complaint details how the lending practices of JP Morgan Chase led directly to Plaintiffs being placed in harmful and predatory loans. After a loosening of lending restrictions in the 1980s, banks like JP Morgan Chase began originating exotic non-prime mortgages with adjustable interest rates. These risky loans were often securitized into mortgage backed securities and sold to investors. Because a bank could quickly recoup amounts spent issuing mortgages by the sale of these residential mortgage backed securities (RMBS), banks incentivized mortgage brokers to participate in the scheme with high fees for origination. According to the filing, these fee incentives encouraged complete disregard for underwriting standards which were used to lure borrowers into highly predatory loans they could not afford.

The complaint alleges that Plaintiffs relied on statements made by JP Morgan Chase employees and mortgage brokers when they accepted bad loans. Plaintiffs were often told that they would be able to afford high loan amounts and were promised the ability to refinance at a later date. It is alleged that in some instances, loan officers blatantly lied to Plaintiffs about the quality of the loans they were receiving. The complaint alleges that Chase not only knew about these broker practices, but encouraged and incentivized them. A Chase internal memo states, If you do not get Stated/Stated, try resubmitting with slightly higher income. Inch it up $ 500 to see if you can get the findings you want. Do the same for assets.

Similarly, the complaint alleges that appraisers were encouraged to inflate property values in order to give borrowers higher loan amounts. The higher the loan amount, the more money JP Morgan Chase was able to make on the sale of the loan. It is argued that the bank incentivized appraisers to falsify property valuations in order to secure a higher loan to sell to investors. The complaint alleges that Plaintiffs borrowed excessively in reliance on inflated appraisals and other statements.

Plaintiffs also argue that because of the sale of their loans, they did not receive the benefit of the contract for which they bargained. Plaintiffs, believing they would be placed into a mortgage with a traditional Lender/Borrower relationship, later found that they did not have a lender with whom they could deal. Servicers are not at liberty to make changes to contracts when circumstances are unforeseeably changed. Furthermore, loan servers have an incentive to foreclose whereas a lender has the incentive to modify a loan if it would be more profitable in the long run. Had many homeowners had a lender with whom to deal, they could have restructured the mortgage for a more desirable result for both parties. The complaint details how many Plaintiffs diligently sought modification of their loans but were denied simply because the servicer had no authority to grant a modification.

Atlanta Bankruptcy Attorneys at B. Phillips & Associates Win 2011 WebAward

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Altanta, GA (PRWEB) October 28, 2011

The Atlanta, Georgia law office of B. Phillips & Associates has won the 2011 WebAward from the Web Marketing Association for Outstanding Achievement in Web Development.

Since 1997, the Web Marketing Associations annual WebAward Competition has been setting the standard of excellence for website development. Independent expert judges from around the world review sites in 96 industries. They recognize the best with a WebAward, which helps interactive professionals promote themselves, their companies, and their best work to the outside world. The WebAward competition is the premier recognition program for web developers and marketers worldwide.

According to attorney Bob J. Phillips, “My new site has been designed entirely with my clients and potential clients in mind. I am proud of the website and I certainly hope visitors to the site will use it as a resource to answer their initial questions, and then let us guide them through the bankruptcy process personally.”

The new website explains bankruptcy advice offered by the firm in detail. It also shares biographical information about Bob J. Phillips background, experience, and education. Website visitors learn how B. Phillips & Associates can assist them with their financial issues. Mr. Phillips has developed a solid reputation for maintaining high ethical standards while helping people find solutions to their debt, foreclosure and taxation problems.

About B. Phillips & Associates

Atlanta bankruptcy attorney Bob J. Phillips focuses exclusively on helping people with financial hardships. He has helped many clients resolve their financial issues and get a fresh start. He strives to provide his clients with caring and responsive legal representation. The firm offers legal counsel primarily in the following practice areas:

Captive Insurance Industry Experts Continue to Weigh In on Nonadmitted and Reinsurance Reform Act: No Captive Insurance Impact

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Montpelier, VT (PRWEB) November 08, 2011

The McIntyre White Paper Report on the new federal Nonadmitted and Reinsurance Reform Act (NRRA), part of the recently passed Dodd Frank Act, continues to garner agreement among captive insurance industry experts concluding that the law has no applicability to captive insurance. The white paper was prepared by the law firm of McIntyre and Lemon, PLLC of Washington, DC.

The McIntyre Report gives a convincing explanation of why captive insurance is not part of NRRA, said Tom Jones, partner with McDermott Will & Emery LLP in Chicago. The intent of NRRA appears to have been solely on surplus lines and never meant to include captive insurance, he added.

Skip Myers is the Managing Partner with Morris Manning & Martin, LLP in Washington, DC, Although this legislation was intended by Congress to create uniformity in the surplus lines market, the actions of the states have had the opposite effect. The legislative history is clear that Congress never intended this legislation to affect any insurance other than surplus lines, said Myers.

There is considerable misinformation circulating regarding NRRA, said Daniel Towle, Vermonts Director of Financial Services. Certain states are using this as an opportunity to try to domicile captives in their state. It is a disservice to the industry that some states are using this tactic in an attempt to leverage new business. We strongly recommend seeking factual documentation for such assertions to avoid costly and unnecessary consequences.

As legal experts weigh in on NRRA, industry accountants are now voicing their professional assessment on the laws application to captive insurance. We dont believe it applies to captive insurers. We are advising clients to sit tight as further guidance will be forthcoming, said Gary Bowers, CPA, and Tax Partner with Johnson Lambert & Company LLP. Bowers goes on to state, Captives are not surplus lines writers, and we believe NRRA was intended to only affect surplus lines writers.

We concur with the reasoning and conclusion reached in the McIntyre White Paper that NRRA should not apply to captive insurance companies, said Dan Kusaila, CPA, and Tax Partner with Saslow Lufkin & Buggy, LLP. NRRA did not create any new taxes and we are recommending a wait and see approach to our clients, said Kusaila.

The McIntyre White Paper went to great lengths to analyze Congressional legislative intent, concluding that the focus of the bill was for surplus lines of insurance. Based on this analysis and the language of the NRRA itself, the white paper concludes both that (1) captive insurers should not be subject to the NRRAs nonadmitted insurance provisions because they are not placing nonadmitted insurance within the meaning of the NRRA and (2) the NRRA did not change the application of state independently procured insurance laws, nor should it restrict the collection of premium taxes paid for independently procured insurance to the home state of the insured, as it does for nonadmitted insurance. The white paper can be read in its entirety at http://www.VermontCaptive.com/DoddFrank.

A consortium of the Vermont Captive Insurance Association, the Captive Insurance Companies Association and the National Risk Retention Association also agreed with the McIntyre White Paper.

Captive insurance is a regulated form of self insurance that has existed since the 1960s, and has been a part of the Vermont insurance industry since 1981, when Vermont passed the Special Insurer Act. Captive insurance companies are formed by companies or groups of companies as a form of alternative insurance to better manage their own risk. Captives are typically used for corporate lines of insurance such as property, general liability, products liability, or professional liability. Growth sectors of the captive insurance industry include securitization, professional medical malpractice coverage for doctors and hospitals, and the continued trend of small and mid-sized companies forming captive insurance companies.

For more information on Vermonts captive industry, visit http://www.vermontcaptive.com or call Dan Towle at 802-828-5232 or email dan(dot)towle(at)state(dot)vt(dot)us.

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Captive Insurance Industry Experts Continue to Weigh In on Nonadmitted and Reinsurance Reform Act: No Captive Insurance Impact

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Montpelier, VT (PRWEB) November 08, 2011

The McIntyre White Paper Report on the new federal Nonadmitted and Reinsurance Reform Act (NRRA), part of the recently passed Dodd Frank Act, continues to garner agreement among captive insurance industry experts concluding that the law has no applicability to captive insurance. The white paper was prepared by the law firm of McIntyre and Lemon, PLLC of Washington, DC.

The McIntyre Report gives a convincing explanation of why captive insurance is not part of NRRA, said Tom Jones, partner with McDermott Will & Emery LLP in Chicago. The intent of NRRA appears to have been solely on surplus lines and never meant to include captive insurance, he added.

Skip Myers is the Managing Partner with Morris Manning & Martin, LLP in Washington, DC, Although this legislation was intended by Congress to create uniformity in the surplus lines market, the actions of the states have had the opposite effect. The legislative history is clear that Congress never intended this legislation to affect any insurance other than surplus lines, said Myers.

There is considerable misinformation circulating regarding NRRA, said Daniel Towle, Vermonts Director of Financial Services. Certain states are using this as an opportunity to try to domicile captives in their state. It is a disservice to the industry that some states are using this tactic in an attempt to leverage new business. We strongly recommend seeking factual documentation for such assertions to avoid costly and unnecessary consequences.

As legal experts weigh in on NRRA, industry accountants are now voicing their professional assessment on the laws application to captive insurance. We dont believe it applies to captive insurers. We are advising clients to sit tight as further guidance will be forthcoming, said Gary Bowers, CPA, and Tax Partner with Johnson Lambert & Company LLP. Bowers goes on to state, Captives are not surplus lines writers, and we believe NRRA was intended to only affect surplus lines writers.

We concur with the reasoning and conclusion reached in the McIntyre White Paper that NRRA should not apply to captive insurance companies, said Dan Kusaila, CPA, and Tax Partner with Saslow Lufkin & Buggy, LLP. NRRA did not create any new taxes and we are recommending a wait and see approach to our clients, said Kusaila.

The McIntyre White Paper went to great lengths to analyze Congressional legislative intent, concluding that the focus of the bill was for surplus lines of insurance. Based on this analysis and the language of the NRRA itself, the white paper concludes both that (1) captive insurers should not be subject to the NRRAs nonadmitted insurance provisions because they are not placing nonadmitted insurance within the meaning of the NRRA and (2) the NRRA did not change the application of state independently procured insurance laws, nor should it restrict the collection of premium taxes paid for independently procured insurance to the home state of the insured, as it does for nonadmitted insurance. The white paper can be read in its entirety at http://www.VermontCaptive.com/DoddFrank.

A consortium of the Vermont Captive Insurance Association, the Captive Insurance Companies Association and the National Risk Retention Association also agreed with the McIntyre White Paper.

Captive insurance is a regulated form of self insurance that has existed since the 1960s, and has been a part of the Vermont insurance industry since 1981, when Vermont passed the Special Insurer Act. Captive insurance companies are formed by companies or groups of companies as a form of alternative insurance to better manage their own risk. Captives are typically used for corporate lines of insurance such as property, general liability, products liability, or professional liability. Growth sectors of the captive insurance industry include securitization, professional medical malpractice coverage for doctors and hospitals, and the continued trend of small and mid-sized companies forming captive insurance companies.

For more information on Vermonts captive industry, visit http://www.vermontcaptive.com or call Dan Towle at 802-828-5232 or email dan(dot)towle(at)state(dot)vt(dot)us.

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Global Electronic Access Control Systems Market to Reach US$14.1 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

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San Jose, California (PRWEB) November 09, 2011

Follow us on LinkedIn – Controlling access and preventing unauthorized entry is the key to ensuring against theft, sabotage, and vandalism. And electronic access controls, in this regard, is an omnipresent requirement for people from all walks of life, including the common man, employees, business owners, and most importantly building owners. Rise in terrorist attacks, vandalism, campus violence, and the resulting need for personal safety and security at public places such as transits, city centers, educational institutions, as well as borders have been driving the installation of electronic security systems at these places and facilities for preventing unauthorized access, ensuring remote surveillance, recording and reporting unruly incidents, and identification of culprits. Although, the government sector continues to remain the largest end-use market for electronic security systems, generating a major portion of value sales for electronic security systems (ESS) market, commercial establishments and households have also been increasing their ESS implementations over the last few years, due to heightened perceived threat of criminal activity and terrorism.

Although the tough economic climate squeezed new orders for electronic access control systems, the focus on safety and security among organizations, government agencies and general public will continue to remain unchanged in the post recession period, as security coverage is closely tied to safety of human life, and infrastructure facilities in residential and commercial centers. Growth in the market, which was hitherto frustrated by capital shortages, reduced personnel, and unemployment, will continue to rebound as liquidity issues and financial hardships begin to ease. Though developed markets such as Europe and North America have been the traditional revenue contributors in the market, developing markets such as Asia-Pacific and Latin America and Middle East are expected to turbo-charge future growth.

As stated by the new market research report on Electronic Access Control Systems, US continue to remain the largest regional market. Asia-Pacific is the fastest growing regional market, with value sales of EACS in the region waxing at a CAGR of about 13.5% over the analysis period. By product, Card-Based Electronic Access Control Systems continues to be the largest product segment. Biometrics-Based Electronic Access Control Systems is the fastest growing product segment, waxing at a CAGR of about 13.1% over the analysis period. Future growth of biometrics in access control is forecast to stem from globalization, emerging economies, mobility, spurt in number of mobile devices and trusted access. Moreover, growing value for concepts such as eGovernment, digital identity, and cloud computing, among others are likely to drive the demand for cutting-edge biometric technologies.

Major players in the marketplace include Aiphone Co. Ltd., ASSA ABLOY AB, BIO-key, International Inc., DigitalPersona Inc, Gunnebo Ab, Hirsch Electronics Corporation, Honeywell Access Systems, Ingersoll Rand Recognition Systems Inc., Linear LLC, Imprivata

F&D Reports/Creditntell Publish Update on U.S. Retailers Bank Debt & Liquidity

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Great Neck, NY (PRWEB) November 10, 2011

Industry-leading credit consulting firm Information Clearinghouse Inc. (ICI), through its divisions F&D Reports and Creditntell, are pleased to announce the release of its Bank Debt & Liquidity Update, an annual report for financial executives looking to keep an eye on the access to cash available relative to the retailers and wholesalers with which they partner.

During the first half of fiscal 2011, banks purportedly continued to ease lending standards. Historically low interest rates are driving lending activity, as corporations issue new debt to refinance higher-yielding debt and, to a lesser extent, return capital to shareholders. Compared to historical levels, nonetheless, access to credit remains tight, and most corporations are still not borrowing to fund new investments or expansion. More than ever, retailers are moving to refinance their bank facilities, and these re-financings are serving as key indicators of their financial health.

To that end, the Bank Debt & Liquidity Update provides bank facility maturity schedules for ICIs monitored companies, separated by industry segment, with a summary of the credit agreements as well as key debt protection and liquidity metrics and short-term debt maturities through 2012. For each company, the report provides the maturity date, maximum borrowings, percent available, cash availability, TTM interest coverage, securitization, accounts payable, percent inventory financed by vendors, A/P one-day average, DPO and other term loans or notes coming due in the next year. The report also lists upcoming public bond maturities and bank facility maturities for more than 60 privately held retail sector companies.

Staying on top of upcoming maturities can prove crucial in assessing retailers and wholesalers’ financial health as well as anticipating defaults. The 2010 Bank Debt & Liquidity Update highlighted A&Ps looming $ 157.0 million convertible note maturity on June 15, 2011; A&P subsequently filed Chapter 11 in December 2010, citing this upcoming maturity as part of its rationale for filing. Roundys Supermarkets retired a $ 54.0 million term loan that matured on November 3, 2011 and will need to deal with the November 2012 maturity of its $ 95.0 million revolver. HCA continues to face a series of debt maturities over the next three calendar years, including $ 1.40 billion in notes and term loans coming due in 2012. Other major retailers announcing recent re-financings include: BI-LO, Burlington Coat Factory, Rite Aid, Target, Sears Holding Corp., Safeway, AutoZone, AmerisourceBergen, Bass Pro Shops, Big Lots, Cabelas, Cardinal Health, Compass Group, Core-Mark, Family Dollar, Neiman Marcus, Toys R Us and Winn-Dixie.

Commenting on the Bank Debt & Liquidity Update, Lawrence Sarf, CEO of ICI, stated, Cash is, as always, King, and access to favorable borrowing is the Crown Prince that serves him. Every business experiences opportunities and unexpected pitfalls; both of those situations require immediate access to capital in order to provide the smoothest path forward. Conversely, the inability to take full advantage of opportunities, retire expensive debt, forward-buy low priced goods, or ramp up capex in preparation for a turning economy is the recipe for failure. Knowing what your customer or competitor has in relation to what they are going to need gives you a clear advantage. Every financial executive with an interest in retail should have this comprehensive report nearby as a ready reference.

Information Clearinghouse, Inc. (publisher of F&D Reports, Creditntell, & FDARMS) is a comprehensive retail credit consulting firm specializing in the analysis of public and private companies in numerous retail segments. The focus of its analysis is to deliver the key intelligence today’s busy credit executive needs to make a highly informed decision without sifting through pages of non-essential data. F&D Reports and Creditntell actively monitor retailers such as Kroger, Best Buy, Bed Bath & Beyond, Toys “R” Us, BJ’s Wholesale, Dick’s Sporting Goods, Bon-Ton Stores, and Macy’s. To learn more, visit the websites at http://www.fdreports.com, http://www.creditntell.com, http://www.fdarms.com.

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Gracie Point Secures Funding for a $24 million Premium Finance Loan

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New York, New York (PRWEB) November 17, 2011

With almost thirty key person life insurance policies at stake, the client required $ 24 million of premium financing for their corporate owned life insurance. Tapping into their extensive capital markets network, Gracie Point identified an appropriate capital source and worked with all stakeholders to structure and close the loan.

Bob Powell, CLU, President and Chief Executive Officer of Gracie Point explains, In a premium finance deal there are many moving parts between the client, the funding source, and the carrier. The client selected Gracie Point to help them refinance this block of loans because of our ability to raise capital as well as our expertise and experience with life insurance and premium financing.

Bruce Lohman, a Senior Managing Director at Houlihan Capital, LLC, states, Houlihan Capital partnered with Gracie Point to secure the capital for this loan. We have identified substantial additional capital sources and are working with Gracie Point to fund similar transactions. Houlihan Capital is a specialty investment banking firm advising Gracie Point in obtaining capital for its premium finance business.

Gracie Point offers clients sustainable loan solutions. We believe that traditional premium finance plays a valuable role in the life insurance market, states Powell. Our integrated approach enables us to offer our producers, carriers and borrowers a single coordination source. We have the resources and expertise to manage the financing from start to finish.

About Gracie Point

Gracie Point is an independent specialty finance company focused on the fully-collateralized, traditional life insurance premium finance market with expertise in loan origination, structuring, and funding. Gracie Point utilizes a sophisticated, capital markets-driven funding technology as well as traditional bank lending platforms to generate broad and diverse capital sources so that it can offer sustainable premium finance loan products.

About Houlihan Capital

Houlihan Capital is a leading strategic financial advisory and investment banking firm with expertise in capital raising, securitizations, private placements, structured credit and other areas. Houlihan Capital has offices in Chicago, New York and Los Angeles.

To learn more, go to http://www.graciepoint.com or contact Larry Ikard at 212-487-5102. For Houlihan, go to http://www.houlihan.com or contact Bruce Lohman at 312-961-3502.

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LEAF Commercial Capital, Inc. Receives $125 Million of New Capital

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Philadelphia, PA (PRWEB) November 21, 2011

LEAF Commercial Capital, Inc. (LEAF or the Company), a leading independent equipment leasing and finance company, announced the recent closing of a $ 50 million growth equity investment from Eos Partners, L.P. and its affiliates (Eos), a New York based private investment firm. In connection with the Eos investment, LEAF also closed on $ 75 million of additional debt financing with Versailles Assets LLC, an asset-backed commercial paper conduit sponsored by Natixis, which increases the Companys securitized and syndicated warehouse facility to $ 185 million in aggregate. The warehouse facility is managed by Guggenheim Securities, LLC (Guggenheim Securities). The $ 125 million of incremental financing provided by Eos and Natixis will further support the expansion of the LEAF platform and its growing origination volume. FBR Capital Markets & Co. (FBR) advised LEAF in connection with the equity financing.

Headquartered in Philadelphia, PA, LEAF was launched in January 2011 with initial funding from Resource America, Inc., Resource Capital Corp., and Guggenheim Securities. The Company works closely with leading commercial equipment vendors and manufacturers to help them maximize revenues by offering competitive small- and mid-ticket financing solutions to their customers. LEAF currently has over $ 640 million of assets under management and recently closed a $ 105 million term securitization which was underwritten by Guggenheim Securities and rated by Moodys and DBRS. Resource America, Inc. and Resource Capital Corp. continue to maintain a significant investment in LEAF and, together with Eos, are committed to supporting LEAFs long-term business objectives.

Crit DeMent, LEAFs Chairman and CEO, stated, We are delighted to have closed this financing and are excited about the opportunity to partner with Eos. The investment that Eos has made in our company is a validation of our management team, corporate capabilities and creative marketing strategies. We value their sponsorship of our business and look forward to leveraging their experience with growth companies and their expertise in the capital markets. We believe that the additional financing provided by Eos and Natixis significantly strengthens our leasing platform and will enable us to continue providing the equipment financing industry with a strong and forward thinking resource, one that will transform the way the market perceives the value of a financing partner.

Brendan Moore, a Principal of Eos, said, We believe that LEAF represents a compelling opportunity to leverage an established platform with an experienced and proven management team and help build a market leading independent commercial finance company. Our investment will enhance LEAFs ability to execute on its growth strategy and expand its offering to meet the ever changing demands of the markets and the customers that the Company serves.

About LEAF Commercial Capital, Inc.

LEAF Commercial Capital, Inc. (“LEAF”) is a national equipment leasing and finance company headquartered in Philadelphia, PA, with a sales and service center in Moberly, MO and a call center in Orange County, CA. LEAF’s core competency is the ability to assist vendors and manufacturers in maximizing financing as a revenue generating strategy. For more information, please visit http://www.LEAFnow.com.

About Eos Partners

Formed in 1994, Eos is a private investment partnership with approximately $ 1.6 billion of capital under management. In its private equity activities, Eos focuses on working closely with management teams and committing its understanding of strategic alternatives and the financial markets to help grow these businesses into larger scale enterprises. For more information, please visit http://www.eospartners.com.

About Natixis

Natixis is the corporate, investment and financial services arm of Groupe BPCE, the second-largest banking group in France. With around 22,000 employees, Natixis specializes in three main business lines: Corporate and Investment Banking, Investment Solutions (asset management, insurance, private banking, private equity), and Specialized Financial Services. Versailles Assets LLC is an asset-backed commercial paper conduit administered by Natixis. Versailles Assets LLC is rated A-1/P-1 and provides securitized funding to a wide variety of US clients.

About Guggenheim

Guggenheim Partners, LLC, the parent of Guggenheim Securities, LLC, is a privately held global financial services firm with more than $ 125 billion in assets under management. The firm’s businesses include investment management, investment advisory, insurance, investment banking and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe and Asia. For more information, please visit http://www.guggenheimpartners.com.

About FBR

FBR & Co. (FBR) provides investment banking, merger and acquisition advisory, institutional brokerage, and research services through its subsidiary FBR Capital Markets & Co. FBR focuses capital and financial expertise on the following industry sectors: consumer; diversified industrials; energy & natural resources; financial institutions; insurance; real estate; and technology, media & telecom. FBR Fund Advisers, Inc., a subsidiary of FBR, provides clients with a range of investment choices through The FBR Funds, a family of mutual funds. FBR is headquartered in the Washington, D.C. metropolitan area with offices throughout the United States and in London. For more information, please visit http://www.fbr.com.

About Resource America, Inc.

Resource America, Inc. is a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the real estate, commercial finance, and financial fund management sectors. For more information please visit our website at http://www.resourceamerica.com or contact Marketing and Investor Relations at pkamdar@resourceamerica.com.

About Resource Capital Corp.

Resource Capital Corp. is a commercial real estate specialty finance company that qualifies as a real estate investment trust, or REIT, for federal income tax purposes. RSO’s investment strategy focuses on commercial real estate-related assets and, to a lesser extent, higher-yielding commercial finance assets. RSO invests in the following asset classes: commercial real estate-related assets such as whole loans, A-notes, B-notes, mezzanine loans, mortgage-related securities and real estate joint ventures, and commercial finance assets such as other asset-backed securities, senior secured corporate loans, lease receivables, trust preferred securities, structured notes and debt tranches of collateralized debt obligations.

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Michael Cho Joins Allegiance Capital Corporation

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Dallas, TX (PRWEB) November 28, 2011

Allegiance Capital Corporation, one of the largest private investment banks serving the lower middle market, has announced that Michael Cho has joined its Dallas office as a Vice President. Mr. Cho has more than 13 years of experience as corporate legal counsel in successfully managing mergers, acquisitions, and cross-border business transactions

Michaels considerable legal experience as a former attorney, along with his deal making experience both in real estate and cross-border transactions, has been of particular value to the firm, says David Mahmood, Chairman of Allegiance Capital Corporation. His skills in the Korean language have helped Allegiance Capital work with significant companies in South Korea, as well as American Marianas which Allegiance Capital Corporation is joint venturing. His deal making experience and cultural knowledge have been invaluable in helping Allegiance Capital grow its business.

Before joining Allegiance Capital Michael was associated with Akin Gump Strauss Hauer & Feld LLP as its corporate attorney, Michael represented various growth companies in their mergers and acquisitions, leveraged buy-outs, roll-up transactions and initial public offerings with the transactions ranging up to $ 200 million. During his career at Akin Gump, Michael was one of the key outside counsels for Packaged Ice, Inc. in their growth strategy of acquiring more than 30 companies, culminating in their public offering of $ 250 million.

Most notably while associated with the capital market group of Jones Day LLP as a corporate attorney, Michael participated in various transactions involving securitization of non-performing loans, private placement of senior and mezzanine notes and related sale of real estate portfolios. Michael also participated in transactions representing the Morgan Stanley Real Estate Funds in their joint venture with Korean Asset Management Corporation for the purchase and securitization of real estate secured loans ranging up to $ 350 million.

I have known David Mahmood for over eight years, a few of which I have spent representing him and Allegiance Capital Corporation, supporting several successful deals. I always admired the professionalism, persistence and the incredible focus that David Mahmood and Allegiance Capital Corporation has shown their clients. I sincerely appreciate the opportunity to work with him as a deal-maker and will enjoy the collective ride along the way.

About Allegiance Capital Corporation

Allegiance Capital Corporation is an investment bank specializing in financing and selling businesses in the middle market. Allegiance Capital has won multiple awards recognizing the value it delivers to clients. Examples include: 2009 Dealmaker of the Year (Dallas Business Journal), 2008 Boutique Investment Bank of the Year (M&A Advisor), 2006 Investment Bank of the Year (Dallas Business Journal). Subscribe to the Capital Ideas blog by visiting: http://www.allcapcorp.com/blog. Follow Allegiance Capital on LinkedIn, Facebook, and Twitter:@ALLCAP

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