Self-billed as "the largest conference in default servicing" -- a distinction we think goes to the annual MBA Servicing event. Still a large event, historically comprised primarily of REO real estate specialists.
I hope you all got out and enjoyed some fireworks this past weekend. My family went down into our little historic town, not all that far north of where George Washington and his men wintered the year we almost lost it all, and sat with friends and neighbors on the side of the hill to watch the show. I thought about mentioning to my kids that these fireworks were real to the soldiers and civilians who fought during the Revolutionary War, and in every war since then; that they represent more than a good time with friends and family, but I didn't.
A cursory glance at any history book more than a decade old (back when we used to compile historical information into books instead of wikis that can be easily updated as we go along) will reveal that great leaders always seem to emerge during highly volatile times. Few are the truly great who inherited a peaceful land in a time of plenty — and still made it into the history books. There may have been some, but they are pretty much all covered together in a sentence that usually goes something like, "and then there was a 1,000 years of peace and prosperity."
Sucks to be those guys.
Bond insurer ACA Financial Guaranty filed suit Thursday against Goldman Sachs.
The suit alleges fraud and seeks $30 million in compensatory and $90 million in punitive damages stemming from the role the investment bank played in the marketing of the synthetic collateralized debt obligation named ABACUS.
Goldman Sachs developed ABACUS and sold it to investors on behalf of its hedge fund client Paulson & Co. in 2007.
I caught an old movie over the long weekend. One of the cable channels (I don't know which one. It comes on after you hit the next channel button a couple hundred times in search of something to watch) was running the 1985 film "The Goonies." It took me back to my college days and surprised me with a critical connection to the mortgage lending business I'd never noticed before.
“The industry is satisfied with the status quo but it isn’t working and we desperately need to find ways to enable Americans to become homeowners," Pam Patenaude said. "We are the only group that can bring bipartisan efforts together that represent every segment of the housing industry.”
Nontraditional income earners are becoming increasingly mainstream, particularly among Millennials, who, compared to their parents and grandparents, move from job to job a lot more, are more likely to be independent contractors and may lack a solid credit profile.
Managing internal communications and preventing employees from destroying privilege, which can happen simply by including individuals outside the company on communications that are privileged, is one of the most critical aspects of litigation management.