Tag Archives: Credit

Equity Based Services, Inc. Thaws Credit Freeze

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Chicago, IL (PRWEB) November 12, 2008

Equity Based Services, Inc. (“EBS”) announced an equity recapitalization of its AMS IV Self Storage facility in Austin, TX. The property was originally financed by a large European Bank and was refinanced with a Regional Midwestern Lender.

“Lenders are definitely more cautious than they were a year ago, but, we are still closing loans. We are placing debt not only on new acquisitions, but also on existing projects which are generally more difficult to finance. The fact that EBS paid back the original note and placed new debt with a new lender shows that there are still loan dollars available to strong sponsors with strong projects,” states Troy Downing, Principal, Equity Based Services, Inc.

Many Regional Banks have fared well in the face of failing National and International Banks. Regional banks tend to be portfolio lenders and have not been affected as much by the sub-prime and securitized loan industries. Consequently, these Banks still have liquidity and are still placing new debt.

The loan on AMS IV Austin is a three year note with a floating rate based on prime. The starting interest rate is 6% and the loan is Interest-Only for the first 2 years and amortizes in the 3rd year. The loan was facilitated through Tavernier Capital Partners.

“Texas is one of the top performing states in the Country for Self Storage. The fact that we have lending relationships all over the country has enabled our company to continue to secure favorable debt for our clients in the current challenging financing environment. We have found lenders to be receptive and eager to finance well situated Self Storage facilities with experienced well capitalized sponsors such as EBS,” states Saul Hoppenstein, Principal Tavernier Capital Partners.

“The financing terms, rates, and Interest-Only period that we were able to secure on this property allows a very strong cash flowing property to support strong returns to our investors. This property is cash flowing now and is expected to pay investors a strong 8% return in cash flow. Pro forma projections show this project yielding more than 20% per year upon repositioning and eventual sale. The ‘all-in’ return takes into account projected increases in NOI and property appreciation. In down and troubled economies, well positioned Self Storage assets continue to perform,” states Stephen Kaplan, CEO, Equity Based Services, Inc.

In 2008, EBS has acquired 15 new facilities. The vast majority of these were purchased with new debt and only a couple of these were loan assumptions. The availability of debt has a strong effect on Real Estate Markets. The refinancing of AMS IV Austin shows that there still is debt available for Commercial Real Estate deals.

“Cash flow real estate is becoming more and more of a commodity as investors look for safe investment vehicles that produce income and are not subject to Stock Market volatility. Self Storage allows strong cash flow returns with the security of a Real Estate backed asset. 2009 should be a banner year in the Self Storage Industry,” states Troy Downing

About Equity Based Services, Inc

EBS is a Private Real Estate Company specializing in the acquisition and management of self-storage property. EBS currently owns and operates nearly 60 Self-Storage properties in 10 states with a current market value of more than $ 300 Million. EBS also manages a family of Private Equity Funds for institutional and high net worth individual investors. The EBS Income Fund, the EBS Income and Growth Fund II, and the Pilot Equity Value Added Fund all closed in 2007. For more information, contact Kurt Ambrosius at 619-220-6700.

This Press Release is for informational purposes only and does not, in any way, constitute an offering to buy or sell securities.

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Multiple Control Failures To Blame For The Current Credit Crisis

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New York, NY (PRWEB) February 25, 2009

The public has been quick to place sole responsibility for the crisis on the shoulders of bankers, and their perceived excesses. However in any crisis, be it a Depression, Fraud or Catastrophe such as the Three Mile Island Nuclear incident, it is not any one failure point, or person, that leads to a disaster but a confluence of more minor interlinked breakdowns.

A misplaced reliance and faith in mechanical risk models, possessing known flaws and weaknesses, were exploited throughout the mortgage chain.

Loan originators were actively encouraged to push high commission, high risk products, such as Adjustable Rate Mortgages, whilst at the same time over-inflating borrowers assets and under-stating borrowers expenses in order to generate mortgage flow for Wall Street. The controls in place designed to mitigate these abuses, such as obtaining substantiating documentation and 3rd party credit checks were often ignored, omitted or seldom verified.

Bankers packaged, split and combined these mortgages into Bonds backed by them. These bonds were subsequently securitized into Collateralized Debt Obligations (CDO) and then turned into ever more complex and esoteric products, such as CDO^2. These products were impossible to price given their complexity, lack of historic default & price performance information, thereby making management of the associated risks unattainable.

Bankers let the task of independently pricing and rating these securities prior to issuance with Rating Agencies leading to a conflict of interest as Rating agencies were paid for these ratings by the bond issuers. In addition to this moral hazard, Rating Agencies used overly simplistic risk and pricing models that did not take into account systemic risks, risks that the underlying assumptions used in their valuations would be moot due to “extraordinary” market conditions.

To protect themselves from unexpected losses on CDOs, sophisticated investors relied upon the purchase of a type of insurance contract, the Credit Default Swap which shared the same fundamental flaws in pricing and risk as the CDOs. Whilst the economic benefit of a CDS is sound in principle, the vast majority of these CDS were written and traded solely as a speculative play. As defaults increased to levels way beyond those used in the initial modeling of price and risk the perceived likelihood that the originating issuers of being burdened with “insurance” payouts that they will be unable to pay further added to market turmoil and systemic risk.

Industry regulators, bodies who’s task is to protect investors by maintaining the fairness of Capital Markets, must also bear a portion of the blame for the current crisis. Regulators were under staffed and over lobbied by financial institutions eager to remove rules designed to reduce the level of risk they could take on. In addition regulatory staff working at the coal face were seldom experienced and educated in the fields of risk management and were primarily concerned that the banks were following the rules set by the regulators, rules that possessed loopholes that institutions readily exploited.

In the end the credit crisis resulted from failures of many interrelated controls. Moral hazard over the way in which compensation was awarded, controls that were actively avoided, known flaws in risk models which were overlooked and the gatekeepers of the financial market were under funded and over lobbied. Such far ranging failures throughout the entire mortgage process demand a complete rethink on how financial products and markets are modeled, monitored and controlled.

About Crest Rider

Crest Rider Inc is a Management Consulting firm specializing in developing Risk & Governance solutions in the fields of Capital Markets, Investment Banking and Insurance

For more information, visit http://www.crestrider.com or contact Julian Fisher at 212 721 1580

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SunGard Acquires PredictiveMetrics to Broaden the AvantGard Suite and Expand into Trade Credit Liquidity

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New York, NY (Vocus/PRWEB) February 03, 2011

SunGard today announced that it has acquired PredictiveMetrics, a provider of predictive scoring and analytical services for trade credit, debt collections, utilities and other markets. The acquisition will help extend SunGards AvantGard suite of receivables solutions to offer statistical scoring services that help organizations proactively analyze the credit and collection worthiness and likelihood of delinquency or payment across their receivables portfolio. The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGards financial results.

PredictiveMetrics core services around credit and collection analyses will become part of SunGards AvantGard Receivables solution and will be marketed under the AvantGard Receivables brand. SunGard will continue to support the core markets including business-to-business, utilities and debt collection agencies. The predictive modeling solution will also be leveraged to build a new offering for trade credit liquidity decisioning across the receivables portfolio. This will help companies and lenders apply modeling to appropriately evaluate risk and liquidity, helping them better leverage key instruments such as credit insurance, collateralized lending, dynamic discounting, securitization, invoice financing and first / third party outsourcing.

Michael Banasiak, president, PredictiveMetrics, said, Being part of SunGard will help us offer increased flexibility and choice to the credit and collections community. We are very pleased to expand into new areas such as trade credit liquidity in order to deliver more sophisticated solutions for optimized liquidity management. Mike Banasiak will join SunGard as part of the AvantGard team.

C.J. Wimley, executive vice president, trade credit liquidity solutions for SunGards AvantGard business unit, said, The acquisition of PredictiveMetrics is a strategic step forward in our long-term plan to help companies manage their receivables as a capital investment. Performing predictive analytics across the receivables portfolio helps companies mitigate corporate credit risk and gain valuable insight for improved decision-making.

About PredictiveMetrics

Founded in 1995, PredictiveMetrics, Inc. is a global leader in providing predictive scoring and analytical decision solutions using advanced statistical techniques for credit, collections and debt recovery collections. PredictiveMetrics decision technology spans many industries, types of financing, and ages of debt.

PredictiveMetrics is designed to conduct vigorous and sophisticated analytics coupled with innovative, advanced statistical techniques.

About SunGards AvantGard

SunGards AvantGard is a leading liquidity management solution for corporations, insurance companies and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around receivables, treasury and payments. AvantGard helps companies drive free cash flow and reduce inefficiencies across the ecosystem of suppliers, buyers, banks and other trading partners. For more information, visit http://www.sungard.com/avantgard.

About SunGard

SunGard is one of the world’s leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $ 5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.

Trademark Information: SunGard, the SunGard logo and AvantGard are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.

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Former Freddie Mac Executive Vice President & Chief Credit Officer Joins the Collingwood Group as Senior Advisor

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Washington, DC (PRWEB) October 18, 2011

The Collingwood Group announced today that it has retained Ray Romano as Senior Advisor, working with the Collingwood Group to bring his unique expertise and executive leadership in the areas of risk management for consumer and multi-family mortgage products. Romano is a mortgage finance industry veteran with more than 26 years of wide-ranging experience in the areas of credit risk, operations risk, mortgage servicing, financial management, strategic planning, and capital markets. In his new role, Romano will work with The Collingwood Group to further help clients navigate the business opportunities that exist in Washington as a result of the housing crisis.

Romano has a lengthy and distinguished background in Financial Services. Most recently he served as executive vice president and chief credit officer at Freddie Mac. Prior to joining Freddie Mac, where he began as senior vice president of Credit Risk Oversight, Romano held executive level positions with Washington Mutual (SVP chief credit and risk management officer Home Loans Group), North American Mortgage Company (SVP chief credit & compliance officer, Mortgage Banking), and Dime Savings Bank of New York, FSB (VP director of Underwriting Operations). Early in his career, he was assistant manager of CitiCorps North American Investment Bank in New York and Assistant Supervisor, Residential Lending Operations with The Dime Savings Bank of New York, FSB.

Ray brings strong leadership and valued expertise in an area that is highly needed in todays mortgage market, said Brian Montgomery, vice chairman of The Collingwood Group. His involvement with our firm will supplement our already wide range of proficiencies in assisting our financial services clientele.

Tim Rood, a partner with The Collingwood Group, agrees. We are delighted to welcome Ray to The Collingwood Group team. His vast experience in risk and credit management will help us to even further enhance the benefits that The Collingwood Group brings to our clients.

Romano received his Bachelors Degree in finance and economics from Long Island University.

About The Collingwood Group

The Collingwood Group (http://www.collingwoodllc.com) is a Washington, DC-based business advisory firm focused on growing clients businesses, promoting revenue growth and increasing investment returns. The firm is led by Joe Murin, former President and CEO of Ginnie Mae, and Brian Montgomery, former Assistant Secretary for Housing and Federal Housing Commissioner. Both played major roles in the federal governments efforts to address the nations financial crisis and restore stability and liquidity to financial markets. The firms expertise spans all aspects of Agency, non-Agency and FHA/VA housing financing programs; Ginnie Mae securitization activities; domestic and international secondary market activities and issues; primary and special servicing; full asset lifecycle vendor and talent management; and all elements of portfolio due diligence, acquisition, property management and asset disposition.

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Settlement Capital Renews Its $50 Million Credit Line With DZ BANK

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Dallas, Texas (PRWEB) March 09, 2012

Settlement Capital Corporation, a long standing leader in structured settlement purchasing, has recently completed a renewal and extension of its $ 50 Million credit facility through DZ BANKs New York office.

Settlement Capital has a long relationship with DZ BANK, and we are excited about the continuance of this credit line and our future, said Debbie Rosen, President and CEO of Settlement Capital.

Settlement Capital was founded in the late 1980s and was the first company to purchase structured settlement payment rights. The company has been a leader in the industry ever since.

People receiving structured settlement payments through an annuity sometimes need to sell that asset to pay off debt, avoid foreclosure, buy a home or car, or go to school, commented Ms. Rosen. Settlement Capital stands ready to help these people when they need it. This credit extension demonstrates the continuing confidence the banking community has in this business and Settlement Capital.

DZ BANK is very happy to continue and expand its relationship with Settlement Capital, and we look forward to working with the company in the future, said Christian Haesslein, Vice President at DZ BANK Structured Finance Asset Securitization.

About Settlement Capital Corporation:

Settlement Capital Corporation is a Dallas, Texas based purchaser of structured settlement payments. Since the late 1980s Settlement Capital has provided lump sums of cash in exchange for future periodic payments to customers all over the country. Settlement Capital was a founder of the National Association of Settlement Purchasers (NASP), and led the effort in Congress and the states to enact Structured Settlement Protection Acts, ensuring consumers fair access to this important asset. Visit Settlement Capital on the web for more information at http://www.setcap.com.

For more information contact:

Settlement Capital Corporation

Debbie Rosen, President and CEO

14755 Preston Rd., Suite 130

Dallas, TX 75254

972-450-5848

drosen(at)setcap(dot)com

About DZ BANK:

DZ BANK is the fourth largest bank in Germany and acts as central bank for approximately 1,000 cooperative banks. As a cooperative commercial bank, DZ BANK is a well-known partner in Germany and abroad and offers long lasting business experience of over 125 years. DZ BANKs New York based Structured Finance Asset Securitization unit offers lender finance, structured asset and accounts receivable financing for a wide variety of clients and asset types. For more information, please visit http://www.dzbank.com.







In Spite of Tight Credit score, CMBS Loans Still Offered In accordance to Clopton Cash

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Chicago, IL (PRWEB) November ten, 2012

Clopton Capital, a supplier of several sorts of professional loans including CMBS financial loans, is stating officially that CMBS not only nevertheless exist, but are in numerous instances they feel they are much more beneficial than at any time. CMBS financial loans, or commercial mortgage loan backed securities loans, are primarily a variety of business mortgage that is funded by traders and the place buyers enjoy profits or losses from the good results of the CMBS loan that is granted to a borrower. Clopton Funds has noticed an enhance in pessimism surrounding these loans over the earlier many years due to a lot of borrower’s shared perception that they are in essence non-existent in the current commercial lending ambiance. Despite what numerous debtors may possibly assume, industrial mortgage loan back again securities loans are commonly offered. Not only are they accessible but they are available without exit charges and extended conditions as extended as thirty years with our firm particularly, explained Jake Clopton, the founder of Clopton Funds.

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Clopton Money is formally saying a increased emphasis on underwriting CMBS financial loans inside of their business. This is to say that they intend to market to far more verified customers of CMBS loans and make higher efforts to make use of these mechanisms exactly where it is witnessed in shape to do so. The company will more than likely also start an extra website to their portfolio of web sites to encourage this commercial lending merchandise explicitly.

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Clopton Funds is a nationwide originator of CMBS loans which follow the expectations set by the CMBS securitization market. The organization markets loans to the various conduits available through institutional entry in purchase to attain the most competitive pricing and terms for its clientele.

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For a lot more data about CMBS loans from Clopton Cash, check out http://CloptonCapital.com/cmbsloans.html.

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Superhero Scramble, LLC Gets Credit card debt Financing via Stenton Leigh Group

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Boca Raton, FL (PRWEB) March 31, 2013

Milton H. Barbarosh, President of Stenton Leigh Team, Inc., introduced that they have finished a round of non-public non-securitized financial debt funding for Superhero Scramble, LLC (Superhero). The funding was slated as an support to the speedy enlargement of the Superhero Scramble obstacle races, and the coming years’ routine of twelve races.

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Stenton Leigh studies that Milton Barbarosh organized the funding employing a personal credit card debt placement with Thompson MacTavish Set Asset Opportunity Fund LP, a South Florida asset based mostly financial institution. Superhero Scramble is an elite obstacle program ranging from four miles of tough terrain, to marathon distances.

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Given that its creation in 1989, the Stenton Leigh Group has been delivering advisory services. Expanding companies in need of professional guidance have benefitted from the several reorganization and company growth solutions. Milton offers services such as financial approaches created to increase shareholder price, along with strategic ideas that are aimed at assembly particular milestone objectives established by an organization.

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Stenton Leigh has turn out to be properly-identified, and properly-revered when it comes to regions of Principal Investments, Mergers and Acquisitions, and Valuation Companies, in addition to its financial debt placement ability.

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Stenton Leighs valuation solutions contain undertaking acquire price tag allocations (ASC805) and goodwill impairment (ASC350) engagements for both public and non-public companies. “In spite of the recent restricted debt financing marketplaces we have determined personal institutional funding sources searching for to finance each little and huge good income movement businesses” mentioned Milton Barbarosh.

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The company stories that they also give intangible valuations for such classes as: patents, know-how, trade names and emblems, produced technologies, customer lists, on-heading R &amp D, contracts, non-compete covenants and license agreements. Intellectual House valuations are also available across the company spectrum.

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About Stenton Leigh Group:&#thirteen

Stenton Leigh Team, Inc. (SLG or the “Company”) was started in 1989 by Milton H. Barbarosh to invest in and supply advisory solutions to developing organizations. Because its formation, the Firm has continually expanded and refined its solutions choices to supply enhanced client worth. Because of to the professionalism and historical good results of its services, Stenton Leigh Group and Milton Barbarosh have acquired very positive recognition and respect in general public and personal capital marketplaces during the United States and abroad.

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Stenton Leigh Group’s companies choices provide consumers with monetary providers and expertise to assist them accomplish a extensive assortment of corporate targets.

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AmStar Announces CLE Audio Training course: “Foreclosure Defense — Economic downturn Evidence Your Practice” 6.twenty five Hours of Credit in California

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Sarasota, FL (PRWEB) September 3, 2009

AmStar Litigation Assist announced these days that its CLE-accredited audio program, titled “Foreclosures Defense — Recession Proof Your Practice,” has been accepted by the California Bar for six.25 hrs of CLE credit rating. The program is valuable to litigators, in-residence counsel, foreclosures protection lawyers, paralegals and mediators.

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Created to provide attorneys with essential information and sources in Foreclosure Defense law, this audio course gives them with the information they need to have to construct a productive follow. Topics of the course incorporate the home loan business, the original customer assembly, discovery, ethics, imputed revenue, securitization, pleading and method, substantive mortgage bank loan legislation, bank loan auditing and more. &#thirteen

“I adore this course’s samples and how there are so numerous guides and checklists to use,” explained Melody P., Foreclosures Defense &amp Personal bankruptcy Relief legal professional. And according to Individual Damage and Foreclosures Defense legal professional Scott K., “This is the very best CLE course I have heard.”

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The CLE deal involves an audio system, a reside recording of an extensive concern-and-reply session, digital course components, and a thorough library of checklists, pleadings and much more. &#13

To get or learn far more details about “Foreclosure Defense — Recession Proof Your Follow,” go to http://www.AmStarLitigation.com/CLE or contact 1-877-550-5878.

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About AmStar&#thirteen

AmStar is a leading supplier of authorized support services for little and mid-dimensions regulation firms that apply Foreclosures Protection, Bankruptcy and other locations of Buyer Legislation. Our solutions include thanks diligence, credit counseling, document selection, petition planning, and marketing. For a lot more information, remember to visit http://www.AmStarLitigation.com or phone 1-877-550-5878.

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