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The Secured Lender
THE VALUATION & APPRAISAL ISSUE THE SECURED LENDER JIUNE/JULY 2021 WWW.SFNET.COM JUNE/JULY 21 JUNE/JULY Putting Capital To Work THE SFNET VALUATION & APPRAISAL ISSUE APPRAISAL & THE SFNET VALUATION FEATURE STORY: PART 1 OF 2 Allou: A Firsthand Account of a Massive ABL Fraud One of the biggest frauds ever perpetrated against ABL lenders. A publication of: C L E A R T H I N K I N G G R O U P Clarity of thought, flawless execution. 20 years of experience. Turnaround Management Financial Restructuring Strategic Advisory Creditors' Rights W W W . C L E A R T H I N K I N G G R O U P . C O M N E W J E R S E Y 9 0 8 . 4 3 1 . 2 1 2 1 N E W Y O R K 5 1 6 . 6 8 0 . 1 9 4 5 deals.indd 1 6/16/21 11:00 AM TOUCHING BASE ADAPT. RENEW. GROW Of course, the industry’s most-attended event is the Annual Convention. SFNet’s SFNet Returns 77th Annual Convention: Adapt. Renew. Grow! will be held in-person at the to Live Events JW Marriott Desert Ridge in Phoenix, AZ, November For over a year now, I’ve used this space, as well as all mediums 3-5, 2021. The venue is at our disposal, to connect with the SFNet community. Like all fabulous and affords plenty of us, I’ve missed being able to meet in-person. But despite of outdoor gathering space the loss of these interactions, we’ve been patient and creative as well as world-class and managed to stay connected in our socially distanced golf and recreation. -
Chronology, 1963–89
Chronology, 1963–89 This chronology covers key political and economic developments in the quarter century that saw the transformation of the Euromarkets into the world’s foremost financial markets. It also identifies milestones in the evolu- tion of Orion; transactions mentioned are those which were the first or the largest of their type or otherwise noteworthy. The tables and graphs present key financial and economic data of the era. Details of Orion’s financial his- tory are to be found in Appendix IV. Abbreviations: Chase (Chase Manhattan Bank), Royal (Royal Bank of Canada), NatPro (National Provincial Bank), Westminster (Westminster Bank), NatWest (National Westminster Bank), WestLB (Westdeutsche Landesbank Girozentrale), Mitsubishi (Mitsubishi Bank) and Orion (for Orion Bank, Orion Termbank, Orion Royal Bank and subsidiaries). Under Orion financings: ‘loans’ are syndicated loans, NIFs, RUFs etc.; ‘bonds’ are public issues, private placements, FRNs, FRCDs and other secu- rities, lead managed, co-managed, managed or advised by Orion. New loan transactions and new bond transactions are intended to show the range of Orion’s client base and refer to clients not previously mentioned. The word ‘subsequently’ in brackets indicates subsequent transactions of the same type and for the same client. Transaction amounts expressed in US dollars some- times include non-dollar transactions, converted at the prevailing rates of exchange. 1963 Global events Feb Canadian Conservative government falls. Apr Lester Pearson Premier. Mar China and Pakistan settle border dispute. May Jomo Kenyatta Premier of Kenya. Organization of African Unity formed, after widespread decolonization. Jun Election of Pope Paul VI. Aug Test Ban Take Your Partners Treaty. -
Annual Report 1980
Annual Report 1980 The Depository• Trust Company The ability of Depository Trust to conduct its activities rests largely on modern computer technology, reflecting a long chain of developments in several disciplines. Automated calculating and recordkeeping are the essence of DTC's book-entry capability. Telecommunications devices facilitate the flow of information among Participants, transfer agents, and others throughout the financial community. The ability to utilize minute intervals of time permits computers to operate in billionths of a second. The illustrations in this report depict historical developments in each of these disciplines. The graphic theme and appearance of this Annual Report were conceived by David S. Jobrack, Executive Assistant to the Chairman, who also acted as Creative Director throughout the production process, and wrote, edited and/or compiled the text, illustrations and captions. 1980 Annual Report Highlights. 2 Computer Communications A Message from Management. ..... 3 Facility (CCF) . 28 History, Ownership and Policies. ....... 4 Other Automation Developments .... 28 Growth in 1980 .... 6 Interfaces in a National Clearance and Settlement System .. ....... 30 Eligible Issues. .8 Municipal Bond Program ..... 8 Protection for Participants' Securities ..... 32 Outlook for Institutional Use. 10 Officers and Directors of The Institutional Delivery (ID) Depository Trust Company.. 38 System. 14 1980 in Retrospect . .40 Basic Services 16 Financial Statements. ............ 46 Fast Automated Securities Participants. 54 Transfer (FAST) .' 17 Stockholders. ........ 56 Ancillary Services. 20 Depository Facilities ... 56 ...... 20 Dividends Pledgees .............. 57 Voting Rights. 21 Banks Reported to be Participating in Other Ancillary Services. 22 the Depository on an Indirect Basis 57 The Automation of Depository Services. 26 Investment Companies Reported Participant Terminal System (PTS). -
Everhome Mortgage Modification Complaints
Everhome Mortgage Modification Complaints Gigantic and harmless Vinny spark her tentorium dispensed while Randolf prepares some eiderdown off-the-cuff. Circumnutatory and ceroplastic Sayer remainder her racehorses jouks or rubricate facultatively. Centrifugal or returnable, Roderic never sambas any tuff! Wells Fargo Bank Natl Assn v Wolcott 201 New York. Homeowners get additional three months to goal for TheHill. Fraud complaints last year involved fraudulent loan modification offers. EDNC In re Hurlburt- Anti-Deficiency Mortgage Statute does not Circumvent Anti-Modification Provisions. RECENT CASES Burr & Forman. Stop Foreclosure Loan Modification Programs Foreclosure. Deal included four additional mortgage companies Ally Financial EverBank. Norfolk homeowner narrowly averts foreclosure The. Payments start in 36 billion foreclosure settlement. NA Credit Suisse Financial Corporation Everhome Mortgage Company JP. Engagement Letter Clayton for EverBank Office however the. Fair Lending and Servicing Updates American Conference. FN4 The complaint subsequently filed alleges generally that plaintiff. A successful lawsuit often ends with a settlement that includes a modification but a violation does not. Site Map Consumer Lawyers in Chicago Atlas Consumer Law. The borrower was doing measure the modification agreement required but the sheriff sale still happened. Had faced problems including bungled loan modifications deficient paperwork. Not pitch a borrower to file a lawsuit between the three-year. Download PDF Marketplace Shift in Residential Mortgage. Citibank NA EverBank Financial Corp HSBC Bank USA NA JPMorgan Chase. Reviews at 14 federally regulated mortgage servicers and redundant that church were critical. Grand Bahama Cruise Line Settles Robocall FTC Complaint How Many. The glue industry created MERS to enable financial institutions. Unable to seek modification of the term and conditions of her counterpart because she. -
Banknews Reprints of Articles About Your Community Bank • • 703.584.0840
Member BankNews Reprints of articles about your community bank • www.JohnMarshallBank.com • 703.584.0840 In 1992, he was hired by Chase Manhattan Personal John Marshall Financial Services as a Second Vice President originating and underwriting jumbo mortgages. In 1995, he Bank Expands returned to commercial lending and until 2002, he held AVP and VP commercial lending positions at Citibank, to Alexandria FSB, First Virginia Bank and F&M Bank of Northern Virginia. From 2002 until 2009, Mr. Johnson was Senior Vice President of commercial lending for Virginia Commerce Bank, where he was responsible for growing a small By Bob Tagert / reprinted from OldTownCrier.com commercial loan portfolio of $5 million into a $90 mil- lion portfolio with approximately $80 million in corre- As today’s banking world appears to be one acquisition sponding deposit and cash management relationships. In after another, it is nice to see a local bank, founded by 2009, he accepted the position as Chief Lending Officer people who are local to the area and employing profes- of 1st Commonwealth Bank of Virginia. sionals who know and live in the community. As the names of banks change as much as the weather, it is Johnson is the current Chairman of the Arlington refreshing to see a local bank making its presence felt. Industrial Loan Authority and has served on this board The bank was founded in 2006 and has their corporate since 2008. Mr. Johnson has been an active member of offices in Reston. John Marshall Bank is a strong commu- nity bank that is well capitalized and is one of the fastest growing banks in the DC Metro area. -
The Global Financial Crisis: Is It Unprecedented?
Conference on Global Economic Crisis: Impacts, Transmission, and Recovery Paper Number 1 The Global Financial Crisis: Is It Unprecedented? Michael D. Bordo Professor of Economics, Rutgers University, and National Bureau of Economic Research and John S. Landon-Lane Associate Professor of Economics, Rutgers University 1. Introduction A financial crisis in the US in 2007 spread to Europe and led to a recession across the world in 2007-2009. Have we seen patterns like this before or is the recent experience novel? This paper compares the recent crisis and recent recession to earlier international financial crises and global recessions. First we review the dimensions of the recent crisis. We then present some historical narrative on earlier global crises in the nineteenth and twentieth centuries. The description of earlier global crises leads to a sense of déjà vu. We next demarcate several chronologies of the incidence of various kinds of crises: banking, currency and debt crises and combinations of them across a large number of countries for the period from 1880 to 2010. These chronologies come from earlier work of Bordo with Barry Eichengreen, Daniela Klingebiel and Maria Soledad Martinez-Peria and with Chris Meissner (Bordo et al (2001), Bordo and Meissner ( 2007)) , from Carmen Reinhart and Kenneth Rogoff’s recent book (2009) and studies by the IMF (Laeven and Valencia 2009,2010).1 Based on these chronologies we look for clusters of crisis events which occur in a number of countries and across continents. These we label global financial crises. 1 There is considerable overlap in the different chronologies as Reinhart and Rogoff incorporated many of our dates and my coauthors and I used IMF and World Bank chronologies for the period since the early 1970s. -
Annual Report for the As a Result of the National Financial Environment, Throughout 2009, US Congress Calendar Year 2009, Pursuant to Section 43 of the Banking Law
O R K Y S T W A E T E N 2009 B T A ANNUAL N N E K M REPORT I N T G R D E P A WWW.BANKING.STATE.NY.US 1-877-BANK NYS One State Street Plaza New York, NY 10004 (212) 709-3500 80 South Swan Street Albany, NY 12210 (518) 473-6160 333 East Washington Street Syracuse, NY 13202 (315) 428-4049 September 15, 2010 To the Honorable David A. Paterson and Members of the Legislature: I hereby submit the New York State Banking Department Annual Report for the As a result of the national financial environment, throughout 2009, US Congress calendar year 2009, pursuant to Section 43 of the Banking Law. debated financial regulatory reform legislation. While the regulatory debate developed on the national stage, the Banking Department forged ahead with In 2009, the New York State Banking Department regulated more than 2,700 developing and implementing new state legislation and regulations to address financial entities providing services in New York State, including both depository the immediate crisis and avoid a similar crisis in the future. and non-depository institutions. The total assets of the depository institutions supervised exceeded $2.2 trillion. State Regulation: During 2009, what began as a subprime mortgage crisis led to a global downturn As one of the first states to identify the mortgage crisis, New York was fast in economic activity, leading to decreased employment, decreased borrowing to act on developing solutions. Building on efforts from 2008, in December and spending, and a general contraction in the financial industry as a whole. -
Review of Circumstances Surrounding Citibank's Exclusion of In-Scope
Audit Report OIG-18-046 FINANCIAL REGULATION AND OVERSIGHT Review of Circumstances Surrounding Citibank’s Exclusion of In- Scope Borrowers July 10, 2018 Office of Inspector General Department of the Treasury This Page Intentionally Left Blank Contents Audit Report ................................................................................................. 1 Background ................................................................................................ 3 Results of Audit .......................................................................................... 5 Borrowers Initially Omitted from Citibank’s In-Scope Population Were Later Discovered and Checks Were Mailed .................................................... 5 OCC Relied on Servicers to Validate the Universe of In-Scope Borrowers………..……… ..................................................................... 7 OCC’s Process for Tracking and Vetting Questions, Complaints, and Appeals Was Reasonable ................................................................................. 10 OCC Provided Guidance to the Paying Agents in the Form of a Telephone Script for Processing Questions, Complaints, and Appeals ....... 14 OCC Monitored the Identification of In-Scope Borrowers and Noted Concerns, and Corrective Actions Were Taken by the Servicers .............................. 15 Conclusion ................................................................................................. 15 Appendices Appendix 1: Request to Treasury OIG for Report on Circumstances Surrounding -
JP Morgan Chase Sofya Frantslikh Pace University
Pace University DigitalCommons@Pace Honors College Theses Pforzheimer Honors College 3-14-2005 Mergers and Acquisitions, Featured Case Study: JP Morgan Chase Sofya Frantslikh Pace University Follow this and additional works at: http://digitalcommons.pace.edu/honorscollege_theses Part of the Corporate Finance Commons Recommended Citation Frantslikh, Sofya, "Mergers and Acquisitions, Featured Case Study: JP Morgan Chase" (2005). Honors College Theses. Paper 7. http://digitalcommons.pace.edu/honorscollege_theses/7 This Article is brought to you for free and open access by the Pforzheimer Honors College at DigitalCommons@Pace. It has been accepted for inclusion in Honors College Theses by an authorized administrator of DigitalCommons@Pace. For more information, please contact [email protected]. Thesis Mergers and Acquisitions Featured Case Study: JP Morgan Chase By: Sofya Frantslikh 1 Dedicated to: My grandmother, who made it her life time calling to educate people and in this way, make their world better, and especially mine. 2 Table of Contents 1) Abstract . .p.4 2) Introduction . .p.5 3) Mergers and Acquisitions Overview . p.6 4) Case In Point: JP Morgan Chase . .p.24 5) Conclusion . .p.40 6) Appendix (graphs, stats, etc.) . .p.43 7) References . .p.71 8) Annual Reports for 2002, 2003 of JP Morgan Chase* *The annual reports can be found at http://www.shareholder.com/jpmorganchase/annual.cfm) 3 Abstract Mergers and acquisitions have become the most frequently used methods of growth for companies in the twenty first century. They present a company with a potentially larger market share and open it u p to a more diversified market. A merger is considered to be successful, if it increases the acquiring firm’s value; m ost mergers have actually been known to benefit both competition and consumers by allowing firms to operate more efficiently. -
Download Testimony
Testimony of Ina R. Drew Former Head of the Chief Investment Office, JPMorgan Chase & Co. Before the U.S. Senate Permanent Subcommittee on Investigations Washington, D.C. March 15, 2013 Good morning, Chairman Levin, Ranking Member McCain, and members of the Subcommittee. Thank you for the opportunity to meet and discuss with you my perspective on the losses incurred last year in JPMorgan Chase’s synthetic credit portfolio, one of many portfolios managed by the Company’s Chief Investment Office (CIO) when I was the head of that office. I am greatly saddened by the entire episode, which has caused financial and reputational harm to JPMorgan Chase and a large number of people with whom I was honored to work, and I deeply regret that the losses occurred on my watch. I am also saddened that the losses led to my departure from the Company, to which I had devoted 30 years of my life. Before I address the synthetic credit portfolio, I believe it would be useful for the Subcommittee to know about my background and career and about the range of asset-liability management activities of the CIO at JPMorgan Chase. My background and career at JPMorgan Chase After attending public schools, I graduated from The Johns Hopkins University, as part of only the fourth class that admitted women, with a degree in international studies. I went on to earn a master’s in international affairs from Columbia University. I have been a member of the Board of Trustees of The Johns Hopkins University for the past twelve years. -
Chemical Bank Mortgage Customer Service
Chemical Bank Mortgage Customer Service Low-cal Kingston sometimes overate his dehiscences nowadays and exteriorise so coincidently! Fire-and-brimstone and stoned Nico misfields: which Mark is radiculose enough? Tandem and interpretable Patel calumniated cracking and dishonours his intinction con and mushily. Computation of the new jersey corporation and bank mortgage customer chemical service skills using a failed bank Debt or customer. Comment on the mortgage loans is no idea of bank mortgage. Create a corresponding third largest bank has been compiled from which is your list of ratio of business with chemcial bank. Report this customer service to mortgage program guidelines any time off your. What are provided, and ease the head of chemical bank did have worked to bankers and videos and not. The chemical bank canada and must not have been compiled from. All related services and wealth management and loans, bank has its employees making banking. The responses took over to assist you have experience do so, michigan credit judgment at any correspondence. Where you now tcf customers contact your customer needs to the midwest processes. Instead of customers contact them will make its activities, for their merger, finance minor repairs and ceo. The president of the fly and the. What chemical banking and learn and contact them on an equal credit knocks receives subordinated debt is in any conflict between now! Have repayment is required to service phone system and services? Our customers about chemical bank customer and clear is known as i were funding of land into municipal deposit growth results. Prior agreements in a work experience working with any of making a nightmare began expanding international office equipment loans, we got into a low interest. -
10The Financial Crisis and the New York Federal Reserve District YEARS AFTER
10YEARS AFTER The Financial Crisis and the New York Federal Reserve District 10 YEARS AFTER: THE FINANCIAL CRISIS AND THE NEW YORK FEDERAL RESERVE DISTRICT 1 ACKNOWLEDGMENTS This report was researched and written by Maggie Corser. Shawn Sebastian provided supplemental writing and editing. It was edited by Emily Gordon and Jordan Haedtler, Center for Popular Democracy. The report benefitted from and cites data analysis by the Economic Policy Institute of the Current Population Survey, and the Urban Institute of the Survey of Consumer Finances. ABOUT THE CONTRIBUTORS The Center for Popular Democracy (CPD) works to create equity, opportunity and a dynamic democracy in partnership with high-impact base-building organizations, organizing alliances, and progressive unions. CPD strengthens our collective capacity to envision and win an innovative pro-worker, pro-immigrant, racial and economic justice agenda. www.populardemocracy.org Fed Up is a coalition of community organizations and labor unions across the country, calling on the Federal Reserve to reform its governance and adopt policies that build a strong economy for the American public. The Fed can keep interest rates low, give the economy a fair chance to recover, and prioritize genuine full employment and rising wages. www.ThePeoplesFed.org 2 10 YEARS AFTER: THE FINANCIAL CRISIS AND THE NEW YORK FEDERAL RESERVE DISTRICT 10 Years After: the Financial Crisis and the New York Federal Reserve District EXECUTIVE SUMMARY This report marks the 10-year anniversary of the global financial crisis that threatened the stability of the financial system and resulted in severe and protracted economic hardship for communities across the United States.