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RTC Oversight Board President and Senior Vice President, Peter Monroe and Lloyd Chaisson, Issued the Following Statement Today

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Tampa, FL (PRWEB) September 23, 2008

“The RTC (Resolution Trust Corporation) was created in 1989 by Congress as a federal agency to close failed Savings and Loan Associations and sell their assets at the highest value. Proceeds from sales were used, along with Congressional appropriations to pay all obligations to federally insured depositors Thousands of Savings and Loan (S & L) executives and directors were convicted. No S & L shareholder received a penny of taxpayer dollars. Innovative techniques such as the securitization of commercial mortgages were created to achieve the highest “net present value” for all assets sold. RTC was never a “bailout” in the sense of going beyond explicit federal guarantees. When the job was done, the RTC closed its doors–forever.

In 1993, it was thought that higher capital standards for all financial institutions, tighter asset appraisals and the experience of the S&L crisis itself would help prevent a reoccurrence of a financial crisis caused by mortgage defaults. Now we find ourselves, yet again, mired in a mortgage-driven crisis. However this one, if not soundly managed, could saddle future generations with unprecedented debt.

We offer this discussion of “lessons learned” from our RTC Oversight Board leadership roles in the spirit of “those who do not understand history are doomed to repeat it”. At the same time, much of the work of the RTC should be repeated. We caution officials not to act so precipitously as to replace the last 20 years of government paralysis with panic. Notwithstanding the extreme nature of the current financial crisis, “doing it right” is the most important thing that can be done. If Treasury and Congress get this wrong because of unbridled haste to “do something”, the implications are far more serious than anyone can imagine. It will take years to unwind any poor decision making.

We believe that the following ten principles must guide the current federal response:

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Emerging Payments Technologies, Inc.: Mr. Steven Kietz Expands Role as Chief Revenue Officer; and Mr. Eric Gelb Assumes Senior Vice President of Business Development

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Secaucus, NJ (Vocus/PRWEB) March 22, 2011

Emerging Payments Technologies Inc., creator of the alternative payment solution CredEx

Former Freddie Mac Senior Vice President Joins The Collingwood Group As Special Advisor

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(PRWEB) July 27, 2011

The Collingwood Group announced today that it has retained Manoj K. Singh as a Special Advisor, working with the Collingwood Group to bring his unique expertise in risk management along with his senior level experience on Wall Street. In his new role, Dr. Singh 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.

Dr. Singh has a lengthy and strong background in Financial Services. Most recently Senior Vice President of Pricing and Securitization (Single Family) and, before that, Senior Vice President, Head of Market Risk Management for Freddie Mac, he worked closely with the credit guarantee business, managed the profitability of the Single-Family Credit Guarantee business, identified key drivers of credit risk, and developed recommendations for the corporate costing models, creating strategies to expand and improve Freddie Macs mortgage securities funding alternatives and overseeing its cash execution program. His primary responsibilities included pricing the guarantee fees under Freddie Macs Mortgage Backed Securities Program and the issuance of pass-thru as well as structured securities. In addition to Single-Family Sourcing, Dr. Singh worked closely with Credit Management, Investments & Capital Markets, Credit and Counterparty Risk Management, and Operations.

Prior to joining Freddie Mac, Dr. Singh held executive-level positions with Bear, Stearns & Co (Senior Managing Director, FAST Group), Lehman Brothers, Inc. (Senior Vice President, Risk Management), and Wasserstein Perella Capital Management (Vice President, R&D). His thirteen years of experience with Wall Street provided him with the knowledge to help investors pursue mortgage and real estate assets while enabling them to identify the true risks and value of their targets. His career started in academia, as Assistant Professor of Finance at Boston College.

We are delighted to welcome Manoj to The Collingwood Group team, said Tim Rood, a Partner with The Collingwood Group The Collingwood Group announced today that it has retained Manoj K. Singh as a Special Advisor, working with the Collingwood Group to bring his unique expertise in risk management along with his senior level experience on Wall Street. In his new role, Dr. Singh 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.

Dr. Singh has a lengthy and strong background in Financial Services. Most recently Senior Vice President of Pricing and Securitization (Single Family) and, before that, Senior Vice President, Head of Market Risk Management for Freddie Mac, he worked closely with the credit guarantee business, managed the profitability of the Single-Family Credit Guarantee business, identified key drivers of credit risk, and developed recommendations for the corporate costing models, creating strategies to expand and improve Freddie Macs mortgage securities funding alternatives and overseeing its cash execution program. His primary responsibilities included pricing the guarantee fees under Freddie Macs Mortgage Backed Securities Program and the issuance of pass-thru as well as structured securities. In addition to Single-Family Sourcing, Dr. Singh worked closely with Credit Management, Investments & Capital Markets, Credit and Counterparty Risk Management, and Operations.

Prior to joining Freddie Mac, Dr. Singh held executive-level positions with Bear, Stearns & Co (Senior Managing Director, FAST Group), Lehman Brothers, Inc. (Senior Vice President, Risk Management), and Wasserstein Perella Capital Management (Vice President, R&D). His thirteen years of experience with Wall Street provided him with the knowledge to help investors pursue mortgage and real estate assets while enabling them to identify the true risks and value of their targets. His career started in academia, as Assistant Professor of Finance at Boston College.

We are delighted to welcome Manoj to The Collingwood Group team, said Tim Rood, a Partner with The Collingwood Group. We have advised our clients that the watershed moment of asset sales is upon us and his unique expertise will be invaluable to our private equity and hedge fund clients looking to buy or sell mortgage and real estate assets”.

Brian Montgomery, Vice Chairman of The Collingwood Group, agrees. Manoj brings a unique set of skills to our company and our clients that will further enhance our competencies in providing an integrated mix of high level business advisory services. His involvement with our firm will supplement our already wide range of proficiencies in assisting our financial services clientele.

Dr. Singh received his Bachelors Degree from the Indian Institute of Technology in Kanpur, and both his Masters of Science Degree and his Ph.D. from Purdue University. His has published numerous research publications, and is a frequent presenter at industry conferences. He has refereed journals such as Management Science, Journal of Financial and Quantitative Analysis, Journal of the American Real Estate and Urban Economics Association, and Journal of Financial Research, and was a book reviewer for the Journal of Finance. He and his family live in McLean, Virginia.

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.

Contact:

Debra Kaufmann

The Collingwood Group

dkaufmann(at)collingwoodllc(dot)com

o: 202.626.9724

m: 301.252.3582

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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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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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Avenue 365 Lender Services Adds Shegun Onakomaiya as Vice President of Business Development for its Default Services Division.

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Plymouth Meeting, PA (PRWEB) December 01, 2011

Avenue 365 Lender Services has announced Shegun Onakomaiya as its new Vice President of Business Development for its Default Services Division. Avenues Default Services Group has been growing exponentially since its inception earlier this year. Onakomaiyas role will be to expand the client base and find additional ways in which Avenue can serve its existing clients.

Onakomaiya spent 8 years at Citigroup Global Markets, Inc., most recently as a transaction manager in the acquisition and securitization desk. As such he has deep and firsthand experience from the customers perspective. He has interacted with dozens of asset managers, hedge funds, investors, and servicers, and plans to bring those contacts and solid relationships to his role at Avenue.

Our Default Services Group has grown by almost 100% every month since inception. I believe that Sheguns experience, great reputation in the default space, and extensive contacts will assist us in continuing that growth. Our team brings unparalleled customer service, true knowledge of collateral and title issues, and a commitment to partnering with our clients for smoother transactions. Shegun will take that message to the street and we believe the result will be phenomenal for us and our clients, said Ryan Peterson, President and CEO of Avenue 365.

Avenue 365 Lender Services is a customer-focused, technology-inspired national title insurance and settlement services provider with an unwavering commitment to provide every consumer, originator, and lender with an unparalleled experience with every loan closing. They conduct business in all 50 states for both Origination Services and Default Services. Their customers include national mortgage banks, lenders, retail mortgage brokers, asset managers, investment funds, REO managers, and servicers. To learn more visit http://www.avenue365.com.

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SFG Finance Names Robert Chickowski Senior Vice President-Manager of Portfolio Acquisitions

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Arlington, TX (PRWEB) March 26, 2012

SFG Finance LLC (http://www.sfgfinance.com), a purchaser of auto paper from BHPH dealers, new car franchise dealers, finance companies, banks and credit unions, today announced that it has named Robert Chickowski as senior vice president-manager of portfolio acquisitions. As a member of senior management, Chickowskis responsibilities include supervision of due diligence and portfolio acquisition.

Chickowski brings to SFG Finance over 40 years of experience in the consumer and commercial finance industry, particularly in the areas of due diligence and portfolio acquisition. Prior to SFG Finance, Chickowski served as senior vice president/due diligence manager with Regional Acceptance Corp. During his 6 years with the company he and his team purchased over 1 billion in receivables. Prior to that, he spent several years at FSB Financial, where he managed several departments, including loan servicing and asset remarketing, assisted on due diligence, and his team purchased over 150 million in receivables.

We are very fortunate to have Bob as part of our management team, said SFG Finance COO Henry Gonzalez. He is uniquely qualified to help us leverage our leadership position in the marketplace and expand our market share.

In addition to SFGs long history of purchasing both sub-prime and near prime auto loans, SFG Finance recently launched a program to purchase existing BHPH auto loan portfolios from franchised and independent auto dealers, as well as their related finance companies. Portfolio sizes range from $ 500,000 to $ 150 million, are held on the balance sheet and serviced internally.

The program is highly efficient with a seven to ten day total turnaround from analysis to closing, and will target accounts with as little as 30 day seasoning. Since its inception SFG Finance has actively purchased and closed portfolios from dealers and finance companies nationwide.

Funding for the program is made possible by SFGs parent bank, with the additional advantage of a more stable cost of funds and without the need to securitize. SFG Finance offers complete transparency and up-front pricing based upon its superior analytics. A due diligence team will evaluate all loans in order to maximize the selling dealers return without interrupting the dealerships existing business, ensuring a seamless transition.

About SFG Finance:

SFG Finances tagline is: Turning Paper into Profit One Relationship at a Time. The company is an active purchaser of auto finance receivables and its executive management team has over 75 years of combined industry experience. It is a wholly owned affiliate of Southside Bank, one of the nations largest independent banks with approximately 3 Billion in assets. SFG Finance buys sub-prime through near prime auto paper, servicing released, from banks, credit unions, auto dealers, and other financial institutions nationwide. The companys aggressive pricing and experience across all credit spectrums make it an industry leader. For more information visit: http://www.sfgfinance.com or call: 866-590-7734.







Yet another Industry Veteran to Be part of the Collingwood Group as Vice President

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Washington, DC (PRWEB) August 20, 2012

The Collingwood Team introduced nowadays that Linda Nessi joined the agency as Vice President of the Danger Administration and Compliance Division. The Division is concentrated on mitigating the risk of enforcement actions and ensuring operational readiness and compliance with the arduous requirements of government lending.

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Nessi undoubtedly delivers a wealthy history of federal government software experience that will permit her to assistance the complete variety of The Collingwoods Groups government lending consulting solutions, like handling operational danger assessments, quality handle critiques across the entire bank loan life cycle such as origination, servicing and insurance policies statements, and specific financial loan file testimonials.

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Former FHA Commissioner, Brian Montgomery, now Chairman of The Collingwood Team noted, Not only does Linda deliver a wealth of FHA program experience but her tenure at Fannie Mae and Freddie Mac supply an added dimension to the Chance Administration and Compliance Divisions notable experience.

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Before signing up for The Collingwood Group, Nessi served as a Director of Screening and Checking at Freddie Mac for a few several years, exactly where she oversaw Residence Reasonably priced Modification Software (HAMP) and non-GSE portfolio compliance. Nessi also labored at Fannie Mae for five many years, where she managed the Money Dedication Window and the Functions Consultants Team.

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Most notably, Nessi put in in excess of 30 several years at the Section of Housing and City Development (HUD). The Collingwood Groups bench of staff is presently deep with HUD veterans. Nessis addition more deepens Collingwoods cache of HUD veterans at The Collingwood Group, representing in excess of 250 a long time of mixed HUD knowledge on staff.

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In her tenure at HUD, Nessi served as the Associate Deputy Assistant Secretary, Director of an FHA Homeownership Heart, and Branch Chief of FHAs Top quality Assurance Division where she was responsible for on-web site financial loan origination and servicing compliance reviews. She held other positions at HUD, including Multifamily Housing Consultant, Local community Arranging and Growth (CPD) Consultant and Urban Growth Action Grant (UDAG) Officer.

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Ms. Nessi stated that, It is superb to be again operating with so many previous FHA colleagues. The mission of The Collingwood Group and its target on operating with clientele to create and preserve very best practices and compliant packages is one thing I am very pleased to be a portion of.

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About The Collingwood Team

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The Collingwood Group (http://www.collingwoodllc.com) is a Washington, DC-based mostly business advisory company centered on expanding customers companies, promoting earnings expansion and escalating investment returns. The company is led by Brian Montgomery, previous Assistant Secretary for Housing and Federal Housing Commissioner. Montgomery performed a significant function in the federal governments initiatives to deal with the nations fiscal crisis and restore balance and liquidity to monetary marketplaces. The companies other founders have held leadership positions in other corporations in the economic services business, like the GSEs. Collingwoods skills spans all aspects of Company, non-Agency and FHA/VA housing financing packages Ginnie Mae securitization activities domestic and worldwide secondary marketplace routines and concerns primary and unique servicing total asset lifecycle vendor and expertise management and all factors of portfolio thanks diligence, acquisition, house administration and asset disposition.

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SFG Finance Senior Vice President Robert Chickowski to Retire Jan 31, 2013

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ARLINGTON, Texas (PRWEB) January 08, 2013

SFG Finance LLC (http://www.sfgfinance.com), a purchaser of vehicle paper from BHPH sellers, new vehicle franchise sellers, finance organizations, banking institutions and credit unions, right now announced that Robert Chickowski, Senior Vice President of Acquisitions, will retire January 31, 2013.

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Chickowskis selection to retire will come after 46 a long time in the customer and business finance market. He began his occupation with House Finance in 1967 and has held senior management positions with ITT Finance, Citibank and Citicorp, Advanta Car Finance Corporation, Motorcar Acceptance Corporation, FSB Financial, Regional Acceptance Company and he has expended the previous 10 many years with FSB, Regional, and SFG Finance.

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I have known Bob for many years and have enjoyed functioning with him at several businesses like FSB Fiscal, Regional Acceptance Company, and SFG Finance. He will be significantly missed, but I am fired up to see him go on to the next chapter of his existence as a retired govt, explained Steve Burke, President and CEO of SFG Finance. Concerning the impact on SFGs acquisitions method, Burke said, Bob leaves a massive part to fill, and I know we will find the right individual for the placement.

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Since its inception, SFG Finance has actively acquired and closed portfolios from sellers and finance organizations nationwide. Portfolio dimensions variety from $ 500,000 to $ a hundred and fifty million, servicing unveiled.

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Funding is manufactured feasible by SFGs mother or father lender, with the added gain of no want to securitize additionally a a lot more secure expense of money. SFG Finance delivers total transparency and up-entrance pricing based on Its exceptional analytics.

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SFG is a wholly owned subsidiary of Southside Bank, a single of the nations greatest impartial banking institutions.

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About SFG Finance:

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SFG Finances tagline is: In which Relationships and Integrity Issue. The firm is an active purchaser of automobile finance receivables, and its govt professionals every single have above 30 years of market encounter. It is a wholly owned subsidiary of Southside Lender, a single of the nations largest impartial banking companies with approximately $ three Billion in property. SFG Finance buys BHPH by means of tremendous prime auto paper, servicing introduced, from banking companies, credit rating unions, vehicle sellers, and other economic establishments nationwide. The companys aggressive pricing and knowledge across all credit score spectrums make it an sector leader. For more details go to: http://www.sfgfinance.com or get in touch with (800) 994-0898.

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