Tag Archives: Economic

Kramer Kaslow: The Economic Times Reports that NY Fed is Investigating Goldman Unit

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Calabasas, CA (PRWEB) June 17, 2011

The Law Offices of Kramer and Kaslow not too long ago released comments from their lead lawyer, Philip Kramer, with regards to the newest report from The Economic Instances. According to the British newspaper The Monetary Times, The Federal Reserve Bank of New York is investigating allegations that the mortgage servicing arm of Goldman Sachs failed to conduct acceptable reviews prior to denying borrowers a possibility to reduce their payments by means of a government loan modification programme.

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When asked for a comment, the article says that the Fed confirmed that it was conducting an inquiry. The Financial Instances also reports, a individual familiar with the Goldman unit concerned, Litton Loan of Houston, Texas, mentioned loans were denied with no the suitable assessment beneath a denial sweep approach devised to clear a backlog of applications.

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According to the post, the allegations had been brought to the Feds focus by the Monetary Times, which obtained a letter written by an anonymous Litton employee.

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Consolidated plaintiff litigation lawyer Philip A Kramer who represents hundreds of clientele suing six of the nations largest banks, is familiar with Litton and feels that its practices mirror what he has observed at many other monetary institutions as properly.

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You have a couple of items going on here, says Kramer. One, you can never underestimate incompetence. Undertrained, overworked employees deliberately lose paperwork so that they can claim they have met their quotas, when the dilemma really lies with incomplete files. That happens, but there are much more pernicious goings on as well. The banks are supposed to favor the government HAMP program, but in truth, if they are going to make a loan modification accommodation, they would rather use one particular of their own in-home applications which are normally much less generous to a homeowner.

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According to The Monetary Occasions article, HAMP modifications are supposed to take priority more than non-governmental loan modification applications. However, the regulations establishing HAMP rules give no penalties. The write-up goes on the report that the letter received by the Fed from the particular person familiar with Litton said that at the very same time that the modifications beneath Hamp were becoming denied, Goldman was increasing non-government modifications for loans it retained on its books.

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And that, Philip Kramer observes, is the heart of the problem. Bank greed is pitted against the needs of desperate property owners. The quality of mercy is not strained. Well, Im guessing that bank executives dont precisely take that to heart. When a bank is involved, I suspect greed is going to win out each and every time. At the expense of the homeowner, Im afraid.

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Far more of Philip Kramers observations can be located at the Kramer Kaslow weblog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior companion of the Law Office of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes industrial litigation and trial advocacy, with a concentration on organization litigation, and real house matters. He has prosecuted and defended circumstances for more than twenty five years.

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Mr. Kramer is a licensed real estate broker and has spent considerable time offering legal services in connection with true estate concerns relating to loan modification and loss mitigation, land use and zoning, environmental concerns, easements, construction and improvement, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice just before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has attempted in excess of 200 circumstances. He has appeared on nationally televised applications concerning pre-trial procedure and trial approach and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer often lectures on a broad spectrum of different legal and business concerns.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a previous president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession. He also serves on quite a few Boards of Directors and serves as an officer in numerous firms. For far more data call (818) 224-3900 or pay a visit to http://kramer-kaslow.com

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NOAA Projects This Hurricane Season Will Be Serious, Cunningham Economic Group Desires Louisiana to Be Prepared

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Natchitoches, LA (PRWEB) June 12, 2013

Louisiana is no stranger to hurricane season. Even though the official begin this year was marked by June 1, the threat of a hurricane is a be concerned residents will not quickly neglect. With storms such as Isaac, Rita and Katrina being just a few of several that have brought devastation to the state, preparedness is imperative. This year, The National Oceanic and Atmospheric Administration predicts that hurricane season will be above-average, with as many as eleven hurricanes attainable, reports Raycom News Network.

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Warmer than typical temperatures are just one of the variables that NOAA contributes to the improved threat this years hurricane season poses. In Louisiana, federal and state officials are urging residents to be ready. At the Governors Workplace of Homeland Safety &amp Emergency Preparedness, the theme is to Get a Game Program. Residents can download the app in iTunes, or understand far more info about extreme weather preparedness on the internet.

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At Cunningham Insurance coverage, the nearby insurance coverage agents recall all as well properly the devastation that significant storms have brought to home owners in Louisiana more than the years. This is precisely why they urge residents to prepare now, as storms can hit fast.

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Right here is what the local agency recommends:&#13

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Assemblymember Mary Hayashi Urges Customers to Understand About New Economic Protection Laws and Sources

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Hayward, CA (PRWEB) July 23, 2012

As the chair of the Assembly Business, Professions and Consumer Protection Committee, Assemblymember Mary Hayashi (D-Hayward) applauded the passage of the California Homeowner Bill of Rights, which was signed earlier this month by the Governor. She is encouraging Californians to learn about this law and other state and federal sources developed to shield home owners and consumer finances.

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The Homeowner Bill of Rights is a landmark bill that gives Californians the strongest foreclosure protections in the country, stated Assemblymember Mary Hayashi. Its portion of an critical national effort to spot shoppers very first, and its crucial that we let the public know that these sources exist to assist them save their homes and their financial safety. New federal agencies like the Customer Financial Protection Bureau are working to address numerous concerns, from credit and lending to mortgages and elder economic abuse, and theyre going to make a tremendous distinction for buyers.

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The California Attorney Generals office reports that much more than one million properties were lost to foreclosure between 2008 and 2011, and one more 700,000 are undergoing the foreclosure procedure. The California Homeowner Bill of Rights is a extensive bill package developed to bring fairness and transparency to the mortgage and foreclosure process, and support save California properties. It consists of provisions that prohibit unfair bank practices and assistance loan modifications over foreclosure. The law will go into effect on January 1, 2013.

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Last week, Assemblymember Mary Hayashi was element of a California State Assembly delegation that went to Washington, DC to advocate for much more sources for California. The delegation met with the Consumer Monetary Protection Bureau, which was developed to regulate customer monetary goods and services in compliance with federal law. They discussed the Homeowner Bill of Rights and other mortgage protection methods. Just recently, the Bureau made headlines with its crackdown on Capital One particular, ordering the corporation to refund $ 140 to $ 2 million to clients for its unfair marketing and advertising practices of fee-primarily based solutions.

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To read a lot more about the California Homeowner Bill of Rights, please check out the California Workplace of the Attorney Basic internet site at http://oag.ca.gov/hbor.

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To find out far more about the Consumer Monetary Protection Bureau, please check out their internet site at http://www.consumerfinance.gov.

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Assemblymember Mary Hayashi is the Chair of the Organization, Professions, and Customer Protection Committee and serves the 18th Assembly District, which involves San Leandro, Hayward, Dublin, most of Castro Valley and Pleasanton, and a portion of Oakland, as nicely as the unincorporated locations of Ashland, Cherryland, San Lorenzo and Sunol.

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Apollo Economic Group Unveils Advantages of Distressed Debt Investing at New Seminar

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New York,NY (PRWEB) November 29, 2012

As foreclosures continue and men and women seek appealing earnings investment possibilities to bolster their portfolios New York primarily based Apollo Financial Group promotes the benefits of investing in mortgage notes at a new seminar.

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With a housing recovery underway true estate has as soon as once more rapidly become a single of the hottest and most talked about investment sectors. Nonetheless, enhanced competitors in the residential space, such as many billion dollar private equity funds moving in to obtain distressed properties and convert them to rentals has dramatically lowered the availability of bank owned REOs and elevated the bidding frenzy at foreclosure auctions according to reports by Bloomberg.

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What several typical Americans and investors may not understand is that there is a far bigger pool of distressed debt and non-performing mortgage loans out there, than there are REOs. According to the numbers released by 7,249 U.S. banks at the finish of the 3rd quarter they held just over $ eight.7 billion in REOs. In contrast, these financial institutions also revealed they presently have more than $ 246 billion in late and non-performing residential loans on their books which are 30 to more than 90 days delinquent.

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On the firms internet site Apollo Economic Group reports that it has been in a position to cherry choose from this pool of default loans to obtain superior returns. The premise is that although there are several exit approaches for note purchasers, numerous of these borrowers want to fix their scenario and maintain their properties. This supplies an chance for income investors to get pleasure from steady streams of passive earnings, even though assisting the banks to shed distressed debt and enabling property owners to preserve their residences via loan modifications.

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This is clearly a new notion for a lot of investors. Dean Anastos, CEO at Apollo Economic Group says, 99% of real estate investors invest on the equity side. Debt investing is a distinct ballgame that can be just as profitable with just a fraction of the headache.

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Note investing has been a growing trend given that the housing crisis started but few folks actually understand how it works or what tends to make a sound and profitable investment. This is exactly why Apollo Financial Group decided to launch the upcoming National Note Seminar in Las Vegas.&#13

The occasion getting held at the Aria Resort &amp Casino on December 2nd aims to educate more investors on the advantages of distressed debt investing by way of mortgage notes and share the approaches of profitable investing which have contributed to Apollos success.

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Additionally, on December 1, Ricky Brava, senior companion at Apollo Economic Group has also been invited to speak as one particular of the primary speakers at the Difficult Income Pitbull Conference. Ricky Brava specializes in turning a non performing asset into a performing one particular and will discuss the functions of this type of alternate investing to the sophisticated group of people who attend Leonard Rosen’s annual occasion.

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For these desiring more information on the occasion in Las Vegas or note acquiring Apollo Economic Group can be discovered on the net at http://apollofinancialgrp.com/.

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Audited Economic Statement Services Announced by Bay Area CPA Firms Safe Harbor and G&J Seiberlich

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San Francisco, CA (PRWEB) September 29, 2012

Safe Harbor CPAs, a leading San Francisco CPA firm for Audited Financials, is proud to announce an enhanced operating partnership with G&ampJ Seiberlich, a top Napa CPA firm, on audited monetary statements for Bay Region firms. A lot of Bay Location companies necessary audited economic statements for loan applications as well as regulatory compliance. This new work makes acquiring audited monetary statements less difficult than ever.

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Several Bay Region companies perform with state and regional governments or apply for tiny business financing, explained Chun Wong, CPA, managing partner at Safe Harbor. Conditional to these applications are typically audited financial statements. Our new effort with G&ampJ Seiberlich brings with each other two best Bay Region CPA firms to support organization customers comply with monetary or regulatory requirements.

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For more details, go to – http://www.safeharborcpa.com/

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A lot more on IRS Audit Monetary Statement Solutions

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By way of their audit services location, the two CPA firms work with consumers on multiple levels. These areas consist of:&#13

Audit: An intensive level of service that yields an opinion on all economic statements&#13
Reviews: The next level of service which gives limited assurance that no material modifications require to be produced to economic statements&#13
Compilations: The lowest level of service that does not contain an opinion or assurance of economic statements&#13
Agreed-Upon Procedures: This is supplied when an audit, assessment or compilation is not required

Audited monetary statements are typically required due to the fact outdoors third parties (such as banks, creditors and outdoors investors) demand an auditor’s opinion on financial statements. The objective of an audit is to express an opinion about whether or not the economic statements are fairly presented, in all material respects, in conformity with generally accepted accounting principles (GAAP) or some other financial reporting framework. An audit is carried out in accordance with Generally Accepted Auditing Requirements (GAAS) and contains tests of accounting records and other procedures considered essential to express such an opinion. Testimonials, compilations, and/or agreed-upon procedures are supplied at a reduced level of service. Based on what an organization requires, Secure Harbor CPAs will operate to recognize the regulatory or economic requirements required so as to decrease the price and complexity of generating audited monetary statements however providing the details needed.

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About Secure Harbor CPAs a Specialist CPA Firm in San Francisco

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Safe Harbor CPAs specializes in accounting and tax services for folks and businesses all through the San Francisco Bay Region and higher California. Safe Harbor CPAs aids each individuals and organizations with tax preparation, IRS audit defense, and audited monetary statements. The firm prides itself on friendly however specialist service and utilizes state-of-the-art Internet technologies to supply good quality consumer service.

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Protected Harbor CPA&#13

http://www.safeharborcpa.com&#13

Tel. 415.742.4249

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About G &amp J Seiberlich &amp Co LLP CPAs – a Skilled CPA Firm in Napa, CA

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G &amp J Seiberlich &amp Co LLP is the oldest complete-service CPA firm in the North Bay and the very first to specialize in numerous of the industries that make the region special. Gordon Seiberlich came to the Napa Valley in 1949, determined to put his national accounting knowledge to operate by establishing a full-service firm in a place that was scarcely much more than a spot on a map.

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G &amp J Seiberlich &amp Co LLP&#13

http://www.gjscollp.com/&#13

Tel. 707-224-7948

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A Proactive Student Loan Debt Answer Proposed by the NFEC Economic Literacy

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Washington, DC (PRWEB) January 22, 2013

The National Financial Educators Council proposes a proactive solution to the 1 trillion dollar student loan debt difficulty. The objective is to have students that are under 21 years old full personal finance coursework prior to committing to federally backed student loan debt. Folks that are concerned about the future of todays youth and how the student loan debt bubble is impacting the nation are encouraged to sign the college personal finance petition.

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The NFECs program tackles the student loan debt difficulty in three methods: by way of legislation, totally free industry influence and a high-profile awareness campaign. The finish objective is to add a stipulation to federally backed student loans that needs youngsters below 21 years old to pass a personal finance class.

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The National Monetary Educators Council has drafted legislation entitled the College Student Protection and Economic Education Act to enlist politicians in the work to proactively address this national crisis. This legislation proposes a preventive model comparable to the Bankruptcy Abuse Prevention and Customer Protection Act of 2005, which calls for men and women to get spending budget counseling just before they can file bankruptcy and economic education after they file.

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To aid influence the legislation, the NFEC has launched a petition internet site to gain help from concerned citizens across the United States. The aim is to get adequate signatures to open doors and have the politicians put this as a top agenda item. Supporters can sign the college private finance petition.

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The NFEC is also reaching out to other organizations that are advertising student loan reform. Our campaign is laser focused federally backed student loans and making sure our little ones these beneath 21 years old take a personal finance class just before making a significant monetary selection. It is our objective to perform with other organizations that are tackling this epidemic from other angles. Performing so I believe we can see significant student loan reform in the next 5 years, states Vince Shorb of the NFEC.

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The NFEC’s campaign is focused on helping students steer clear of student loan debt, and supports other groups that address a variety of elements of the student loan debt problem. The Center for American Progress and Campus Progress are releasing a proposal for a huge-scale modification of current student debt that will bring higher equity and protection to the student loan industry even though at the same time easing the burden of repayment, according to an report by Julie Margetta Morga and Tobin Van Ostern.

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The NFEC is a top organization in advocating and raising awareness for the monetary literacy movement. The NFEC is also committed to assisting college bound students proactively keep away from debt that frequently becomes a monetary burden. From statewide and college campus-wide financial literacy campaign, to community workshops the National Monetary Educators Council offers turnkey options to organizations financial literacy initiative requirements.

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Associated Loan Modification Press Releases

Seattle Quick Sales, Inc., Kilburn Group, Inc. and Ross Kilburn Announce Settlement With Washington State Department of Economic Institutions (DFI)

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Bellevue, WA (PRWEB) March 09, 2013

Seattle Short Sales, Inc. a major provider of loss mitigation solutions for Washington State property owners, nowadays announced that it has entered into a settlement agreement with the State of Washington Division of Financial Institutions (DFI) in Case Quantity C-11-0642.

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The settlement effectively resolves the charges of licensing errors with an agreement that the Respondents, Kilburn Group, Inc., Ross Kilburn, and Seattle Quick Sales, Inc. are in full compliance with present licensing regulations and do not admit to any liability or wrongdoing.

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Seattle Short Sales is now a subsidiary of the Politis Law Group, PLLC, a consumer debt advocacy law firm, supplying a broad array of legal services to customers, such as debt settlement, loan modifications, bankruptcy, and short sales.

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The Attorney General’s Workplace issued a letter stating that the DFI is satisfied that, in honoring the terms of the agreement, Politis and Kilburn are in full compliance under the attorney exemption rules and are not topic to regulation by the DFI. Assistant Attorney Basic Susan Jensen wrote, in pertinent portion, that “…[t]he Department is satisfied that the functions every are performing fall under the attorney exemption, as presently enacted.”

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“Today’s settlement is fantastic news for property sellers in Washington State, as they will continue to get free of charge short sale representation from the top brief sale attorneys who have discounted more than $ 100 million in mortgage debt, mentioned Seattle Quick Sales Common Manager, Ross Kilburn. “In January of 2013, we hit a number of fascinating milestones. We’ve now settled more than $ one hundred million in mortgage debt, received more than 1,000 brief sale approvals, and received more than 100 testimonial letters from thankful consumers.”

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Associated Loan Modification Services Press Releases

Samuel Scott Economic Group Recognized As Fastest Growing Private Company

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San Diego, CA (PRWEB) Might 31, 2013

Samuel Scott Monetary Group has when again been acknowledged for their exceptional development and production. The boutique mortgage organization was just named on the San Diego Organization Journals 10th annual list of the Fastest Increasing Private Organizations. In a special reception being held on July 11th, the official rankings for these exceptional businesses will be revealed.

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There is no question about it. Getting recognized on this list is clearly a testament to the tough work of our staff, stated Todd Pianin, founder and Senior Managing Director of Samuel Scott Financial Group. If you continually deliver first-class service, people are going to want to operate with you.

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Given that the beginning of the year, Samuel Scott has hired several new Mortgage Advisors and substantially expanded their support staff. With new Administrative, Marketing and advertising and Financial professionals operating complete-time in the office, the firm is remarkably organized and efficient. A lot of of their loan originators are also adding new pros to their teams and raising the bar on buyer service.

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Mark Robertson, a consistent Leading Producer at the organization, stands out for his teams amazing development in 2013. Already well supported by two committed Loan Partners, Robertson has recently hired a new Loan Officer, Loan Companion and Marketing and advertising Assistant. I believe in going above and beyond for my customers, mentioned Robertson. I am so proud of my team, and know that my clientele are going to feel the influence of this kind of assistance. Its a win for everyone.

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Alex Scoma, yet another major Mortgage Advisor at Samuel Scott, has been expanding his team and developing new methods to serve his customers and true estate partners. Identified for his meticulous systems and powerful client communication, Scoma now manages two full-time Loan Partners. He says his focus is on guiding clients through a seamless true estate transaction.

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The San Diego Enterprise Journal’s List of Quickest Expanding Private Companies contains some of the most dynamic local organizations and represents the vitality and expansion becoming noticed throughout San Diegos reinvigorated economy. Were honored to be on this list, said Pianin. It motivates us to remain focused and hold putting our clients first. With the energy that emanates from our office, its no surprise we are attracted to such talented experts.

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About Samuel Scott Financial Group

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Samuel Scott Financial Group is a boutique mortgage organization recognized for superior client service and the way their Mortgage Advisors tailor the residential loan process to fit each individual client. Constant and reliable, Samuel Scott Monetary Group has been selected as The Best Mortgage Organization in San Diego for the 7th straight year by readers of regional publications. In 2012, the San Diego Organization Journal recognized Samuel Scott as a single of The Very best Areas to Function in San Diego and they had been named in the Inc. 500 | 5000 list of Fastest Expanding Businesses in the nation.

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Career Opportunities at Samuel Scott Financial Group

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Samuel Group Monetary Group is expanding throughout Southern California. If you share our passion for initial-class service and continually strive to set the benchmark for financial excellence in the mortgage market, we want to speak with you about career opportunities for Mortgage Advisors and loan professionals. Please speak to Russ Schreier, at 858-436-1187 or Russ(at)SamuelScottFG(dot)com to schedule an interview.

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Recombo Partners with Eoriginal to Provide E-Contracting Solutions to Economic Business

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Vancouver (PRWEB) September 11, 2007

Recombo Inc., 1 of North America’s foremost providers of secure digital signature technology, nowadays announced a partnership with eOriginal, Inc., a major supplier of electronic vaulting software, to supply a joint remedy to electronic contracting within the economic solutions business.

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With the integration of Recombo’s Waypoint technologies with eOriginal’s advanced electronic vaulting technology, buyers will now have a sophisticated, user-friendly finish-to-finish remedy for signing and managing electronic contracts and agreements. This translates into a significant reduction in the require for paper in the traditionally document-intensive monetary solutions market.

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“Recombo’s partnership with eOriginal creates a much more seamless solution for firms implementing paperless transactions within the economic services industry,” stated Mike Gardner, Recombo CEO.

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Recombo Waypoint is an online service that allows companies to legally total any contract or agreement by way of email and the world wide web. With its identity verification element, safety-conscious buyers can also lessen the danger of fraud by speedily validating identities on the web.

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The eOriginal eCore