Web Equity Offers Advanced Tools for Loan Solutions

Web Equity Offers Advanced Tools for Loan Solutions

Web Equity Offers Advanced Tools for Loan Solutions-Image via CrunchBase

WebEquity Solutions™ LLC (WebEquity), announced today that it has enhanced its Risk Management Dashboard tool, the industry’s first lending solution for pre- and post-approval loan stress testing on a single technology platform. The WebEquity Risk Management Dashboard features significantly expanded reporting and analysis capabilities that help lenders to uniformly identify and stress what factors will most impact the risk make up of their complex credit portfolios. By providing institutions with even greater visibility into their portfolios and the ability to easily isolate the loans that are in potential trouble, the tool gives lenders valuable insight they need to take proactive steps to manage and mitigate risk through the life of their loans.

Specifically designed for C-level management and board members, the WebEquity Risk Management Dashboard is integrated with the Company’s on-demand credit analysis and loan origination solution. With this single system of record, lenders can obtain a consolidated view of their portfolio, assess risk concentrations, perform sensitivity analysis and stress test their commercial & industrial (C&I), commercial real estate (CRE), agricultural (Ag), construction and small business loans.

“The new enhancements to the Risk Management Dashboard have made our most critical board-level portfolio reporting and analysis as simple as a one click process,” Craig Merrihew, AVP, Credit Analyst, McCook National Bank. “The tool’s flexible reporting capabilities are particularly valuable during our renewal season when we analyze key factors by loan officer such as pricing, risk ratings and loan volume. This information is imperative in assessing how individuals impact our productivity, profitability and overall portfolio risk.”

The WebEquity Risk Management Dashboard features enhancements to portfolio reporting and analysis in the following key areas.

  • Stress Testing. WebEquity has considerably expanded the number of factors that lenders can use to drive their risk assessments—adding hundreds of options for stress testing that enable a much more granular level of analysis. Lenders can now shock loans by risk ratings, repayment capacity, loan to collateral and by more than 17 different financial ratios. In addition, there are a multitude of new options for stressing a borrower’s income statement or balance sheet accounts (i.e. rents, operating expenses, receivables, etc.).
  • Sensitivity Analysis. Advanced capabilities give institutions greater flexibility in their sensitivity analyses. They now have the ability to stress segments of individual loans, specific segments of their portfolios and their entire portfolios to determine the percentage change before debt servicing is depleted. Lenders can run sensitivity tests based on their unique business focus – factoring in “what if” variables that are specific to their institution and type of borrowers – and input they receive from examiners.
  • Flexible Configuration Capabilities. WebEquity has also made usability and efficiency enhancements that enable lenders to adapt risk analysis to their institutions’ unique business needs. The Dashboard enables lenders to specify how they want to analyze their portfolios and identify what segments and factors they need to monitor on a regular basis. They now have a greater depth of flexibility around how to analyze loan data, all facilitated by easy drop down options that are intuitive to end users. These new capabilities allow lenders to focus on the loans they really need to track closely based on specific criteria, save that criteria and create watch lists for these most sensitive areas of their portfolio (i.e. loan purpose, risk concentration and bank demographics).

“It is crucial that lenders have full visibility into the risk that lies across their loan portfolios – at macro and micro levels – to prudently manage that risk and meet examiners’ heightened expectations of data transparency,” said Doug McGregor, CEO, WebEquity Solutions. “The enhancements we’ve made to the Risk Management Dashboard are giving lenders an unprecedented ability to stress test loans, from origination through payoff, and take a proactive approach to credit risk management that will help them drive more profitable loan businesses.”

About WebEquity Solutions

WebEquity™ is the proven leader in on-demand lending software. More than 650 financial institutions and 10,000 lending professionals use WebEquity to automate and streamline their lending process and reduce operational costs, while making more uniform and profitable credit decisions. The company offers financial institutions a distinct advantage with a single solution that works for all loan types, an on-demand model that provides centralized, anywhere access, and the flexibility to configure the system so it fits their lending practices. WebEquity serves institutions in the U.S., Canada and Australia.

Boomers Retiring to Delaware- New Details

Boomers Retiring to Delaware- New Details

Boomers Retiring to Delaware- New Details-Image via Wikipedia

Delaware has long been a nearby holiday destination. With property and income tax rates in New York, New Jersey and Northern VA among the highest in the nation, many people can’t afford to stay in their homes after they retire. Delaware is a good alternative. The retiree exodus forced by escalating property carrying costs in the Mid-Atlantic and Northeast US will grow even bigger.

While North and South Carolina are the most searched states of interest on http://www.LiveSouth.com (a retiree and relocation resource), by visitors, a surprising addition has made it into the top 5. Delaware, a longtime summer retreat, playground for weekenders from DC, Philly, New York and New Jersey, is becoming a popular retiree destination.

LiveSouth.com analytics during it’s “peak” season April 1st – October 1st, 2010 revealed that nearly 250,000 unique visitors, chose a community within the following states (in order) as the top 5 when beginning their search.

1.    North Carolina     (7,527 views)
2.    South Carolina     (5,181 views)
3.    Florida        (3,961 views)
4.    Tennessee        (3,688 views)
5.    Delaware        (2,370 views)

Retirees typically move south for a lower cost of living and warmer winter weather based on site rankings and migration trends. However, as with Florida and Tennessee, Delaware, the new number 5, has no state income tax, lower property costs and taxes which is why some are choosing to stay north.

Dave Roberston, Ideal Living Magazine editor, past Chair and BOD Member of the American Association of Retirement Communities (http://www.the-aarc.org) says, “Delaware has long been a nearby holiday destination. With property and income tax rates in New York, New Jersey and Northern VA among the highest in the nation, many people can’t afford to stay in their homes after they retire. Delaware is good alternative. The retiree exodus forced by escalating property carrying costs in the Mid-Atlantic and Northeast US will grow even bigger.”

For more information and a complete list of analytics, contact Lee W. Hauser, Jr. leeh(at)livesouth(dot)com or 800.736.0321 ext. 1024

RPI Media, Inc, Live South and Ideal Living Magazine connect planned communities with prospective buyers and provides comprehensive resources for finding and comparing; golf, gated, waterfront, mountain, retirement, condominium and multi-family communities, through publications, real estate shows, and websites.

401K’s Eating 39% of Investors Returns

401K's Eating 39% of Investors Returns

401K's Eating 39% of Investors Returns-Cover via Amazon

What wage-earners have yet to comprehend is that many of the personal retirement accounts they are paying into annually at work will – regardless of how the markets perform over the coming decades – stealthfully bleed each employee of tens of thousands, even hundreds of thousands of dollars that could remain theirs.

More than 15 million Americans are unwittingly allowing others to feed off their retirement savings. That is what bestselling author Pamela Yellen and investigative journalist Dean Rotbart conclude in a new expose’ that reveals the scary financial surprises buried in many 401(k) plans.

Yellen is author of the New York Times Bestseller BANK ON YOURSELF: The Life-Changing Secret to Growing and Protecting Your Financial Future; Rotbart is a Pulitzer Prize-nominated investigative reporter and editor. They just completed a year-long investigation that determined that annual fees for managing 401(k) investments can eat up nearly 39 percent of an investor’s entire life-long savings.

Yellen and Rotbart explain how a typical 30-year-old worker stands to forfeit $64,000 or more in realized savings by age 65 simply by allowing a plan administrator to choose a fund with annual fees of 1.5 percent versus .5 percent. All this is happening with the approval of Washington. In 2006, as part of the Pension Protection Act, Congress approved legislation that shields companies and their 401(k) administrators from liability, if they make certain types of mutual funds the default investment. But these funds are costly, complex and risky.

“What wage-earners have yet to comprehend is that many of the personal retirement accounts they are paying into annually at work will – regardless of how the markets perform over the coming decades – stealthfully bleed each employee of tens of thousands, even hundreds of thousands of dollars that could remain theirs,” Yellen and Rotbart state in the article.

The authors reveal why the typical 401(k) investor may need to average an 8-10 percent annual return – just to preserve his or her principal. Read the article here: http://bit.ly/1010CoverStory

About the Authors:

New York Times bestselling author Pamela Yellen is the originator of the life-changing Bank On Yourself system and related personal finance strategies. Pamela has worked as a consultant to successful financial advisors for more than two decades. Learn more at http://www.bankonyourself.com/.

Pulitzer Prize-nominated investigative reporter Dean Rotbart has reported on business and financial topics since 1979. His editorial and research clients include numerous Fortune 500 companies and leading communications agencies. Learn more at http://www.newsbios.com/about_us.htm.

Media Contact for Pamela Yellen:
Michelle Tennant Nicholson
Wasabi Publicity, Inc.
828-749-3200
http://www.PamelaYellen.presskit247.com

Cyber Hackers Focusing on Small Businesses

Cyber Hackers Focusing on Small Businesses

Cyber Hackers Focusing on Small Businesses-Image by Mikey G Ottawa via Flickr

Hackers and cyber criminals are now focusing more of their unwanted attention on less secure small businesses. Therefore, it is important that each small business appropriately secure their information, systems and networks.

Coinciding with National Cyber Security Awareness Month, experts will show small business owners how they can protect their most precious online-based assets and customer data from viruses, malware and cyber attacks, in a complimentary webcast, Oct. 28 at 2 p.m. ET.

According to President Obama, “cyber security is one of the most serious economic and national security challenges we face as a nation.” However, according to a study commissioned by the National Cyber Security Alliance, only 28 percent of small businesses have a formal Internet security policy in place, which is alarming given the study also found that 59 percent of small businesses depend on the Internet for day-to-day operations.

This webcast, supported by Bloomberg Television, is just one of a number of resources offered by Solutions for Small Business (SFSB) – a coalition of Americas top cable companies. It will educate business owners on cyber security awareness, and provide tangible, relatively easy and cost-effective steps they can take now to protect themselves. Interested parties may register for the webcast at http://www.solutionsforsmallbusiness.com.

Bloomberg Television anchor Monica Bertran will moderate this interactive discussion, which includes small business experts, Rich Kissel, senior information security analyst, National Institute of Standards & Technology, who conducts information security workshops for small businesses nationwide; Larry Godfrey, sales engineer, Heartland Payment Systems, who directs a program to protect payment card holder and account information at one of the nation’s largest payment processors; and John Marshall, small business owner of Main Street Fine Foods, who handles customer data and transactions on a daily basis. Participants can present questions to Bertran and her guests during this live discussion.

Kissel will share ten crucial cyber security steps that small business owners must implement immediately in order to ensure peace of mind and business continuity. According to Kissel, “hackers and cyber criminals are now focusing more of their unwanted attention on less secure small businesses. Therefore, it is important that each small business appropriately secure their information, systems and networks.”

The SFSB cable initiative includes a library of resources available on the Web site, from case studies to the SFSB Report Series and podcasts, all of which delve more deeply into webcast topics. Also offered are archived copies of past SFSB webcasts, originally presented in late 2009 in early 2010.

More specifically, complementing the October webcast is a SFSB Report, entitled ”Cyber Security Strategies for the Small Business Market” and a vendor report that describes the myriad security solutions available to small businesses.

Real Estate Appraisers Get Help from Federal Reserve

Real Estate Appraisers Get Help from Federal Reserve

Real Estate Appraisers Get Help from Federal Reserve-Image by Getty Images via @daylife

The Federal Reserve Board on Monday announced an interim final rule to ensure that real estate appraisers are free to use their independent professional judgment in assigning home values without influence or pressure from those with interests in the transactions. The rule also seeks to ensure that appraisers receive customary and reasonable payments for their services.

The interim final rule includes several provisions that protect the integrity of the appraisal process when a consumer’s home is securing the loan. The interim final rule:

*Prohibits coercion and other similar actions designed to cause appraisers to base the appraised value of properties on factors other than their independent judgment; *Prohibits appraisers and appraisal management companies hired by lenders from having financial or other interests in the properties or the credit transactions;

*Prohibits creditors from extending credit based on appraisals if they know beforehand of violations involving appraiser coercion or conflicts of interest, unless the creditors determine that the values of the properties are not materially misstated;

*Requires that creditors or settlement service providers that have information about appraiser misconduct file reports with the appropriate state licensing authorities; and

*Requires the payment of reasonable and customary compensation to appraisers who are not employees of the creditors or of the appraisal management companies hired by the creditors.
The interim final rule is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Compliance will be mandatory on April 1, 2011. Public comments are due 60 days after the interim final rule is published in the Federal Register, which is expected soon.

Apprisen Financial Advocates Offer Financial Help Online

Apprisen Financial Advocates, a national nonprofit consumer credit counseling agency which provides personal financial counseling and education, has launched Webvisor. This free, financial counseling and education application can be accessed directly on the Apprisen website, at http://www.apprisen.com. Webvisorsm is an online, self-directed application to help consumers evaluate their finances. Consumers do not have to provide personal identifying information to complete the program and options are presented which are tailored to each individual’s specific financial situation.

Hectic work schedules, busy families and too few hours in the day prevent consumers from spending the time needed to properly manage their money. In addition, some consumers are uncomfortable or may feel embarrassed to sit face-to-face with a credit counselor to discuss their finances. Unfortunately, despite their best hopes and wishes, financial challenges do not magically disappear. An increasing number of people are now turning to the Internet for information and answers they desperately need.

Apprisen Financial Advocates, known in communities where it has local offices as Consumer Credit Counseling Service, believes Webvisor provides a convenient web-based tool to help consumers tackle their personal finances. Webvisor helps people organize their finances and then creates a plan of action to deal with difficult money management issues. Webvisor provides consumers with the support and confidence necessary to manage their money, from the security and privacy of their own home.

“What makes Webvisor unique? It’s convenient; it can be used whenever and wherever you want. No appointment or rearranging your busy schedule is necessary. Webvisor is confidential and anonymous with no pop-ups or advertising and it can take less than 30 minutes to complete,” says Michael S. Kappas, President and CEO of Apprisen Financial Advocates.

Webvisor analyzes information provided by the consumer and identifies areas where improvements in their money management can be accomplished. Webvisor provides consumers with a budget and action plan detailing suggestions and recommendations for their specific situation. It suggests ways to increase income, reduce expenses and provides guidance on which bills should be paid first. Guidance is also provided on methods to deal with debt as well as a list of helpful financial resources. Webvisor provides both professional and practical advice for consumers to use everyday to improve their financial well-being.

Results of the 2010 National Financial Literacy Survey indicate that many adults engage in risky financial behavior. The survey of adults reports that: 56% do not have a budget, 30% have no savings, 41% carry credit card debt and 78% agree that they would benefit from professional financial advice.

“Webvisor helps consumers address those issues. Its unique features complement our current face-to-face and phone methods of counseling. We also hope organizations and businesses recognize the importance of people completing a financial checkup and consider adding Webvisor as a link in their website,” Mr. Kappas points out. “Webvisor is an excellent example of how our agency recognizes, responds, and develops innovative financial services that consumers have come to expect from Apprisen.”

Apprisen Financial Advocates, a national nonprofit credit counseling agency, has been helping consumers manage their finances and get out of debt since 1955. Certified counselors provide money management, debt counseling, HUD-approved housing counseling and financial education. Services are provided in-person in 10 states through local offices and nationally by phone or via the Internet. The oldest nonprofit credit counseling agency in the country, Apprisen Financial Advocates is known in its local communities as Consumer Credit Counseling Service (CCCS). Accredited by the Council on Accreditation (COA), Apprisen is a member of the National Foundation for Credit Counseling (NFCC), the Better Business Bureau (BBB), and AICCCA. For more information call 800.355.2227 or visit http://www.apprisen.com.

Contact: Kathy Virgallito, 614-552-9578
kathy(dot)virgallito(at)apprisen(dot)com

Cleantech Group to Focus on Emerging Opportunities in Water Technology

Cleantech Group to Focus on Emerging Opportunities in Water Technology-Image by Stuck in Customs via Flickr

Cleantech Group, the leading global research and advisory firm focused on cleantech innovation, announced the Cleantech Focus Los Angeles event to be held on November 3-4, 2010. Developed around Cleantech Group’s key water research themes, the event will feature leading global corporations, cutting edge start-ups, and active investors discussing the state of water innovation, corporate water policies, current best practices in water management, relevant policy and regulation, and the technology solutions available now and on the horizon. Cleantech Focus Los Angeles is the third Focus event this year, focusing on exploring the commercial opportunities in water.

“The pressures of global population rise and industrial development on water demand are obvious, water is an increasingly scarce resource” said Sheeraz Haji, president of the Cleantech Group, “but it’s also a massive clean technology opportunity yet to be fully tapped.” Sheeraz continues, “Large corporations are just beginning to start addressing the challenges of water conservation and utilities are finding that leveraging leading edge technology from source to spigot can have dramatic differences.”

To highlight these technologies and facilitate further clean technology innovations, Cleantech Focus Los Angeles will bring together hundreds of influential industry players, including corporate leaders, venture capitalists, economic development agencies, entrepreneurs and policy makers to Los Angeles, an area in the crosshairs of water resource management and ever-increasing demand.

Conference attendees will have the opportunity to connect with key industry influencers during various networking sessions, hear research and trends from Cleantech Group analysts and participate in interactive case studies covering how corporations addressed and successfully implemented water and energy efficiency policies and processes to satisfy investors and customers.

A highlight of featured speakers and keynotes for Cleantech Focus Los Angeles include:

  • Jeff Fulgham, Chief Sustainability Officer and Ecomagination Leader, GE Power & Water covering innovative corporate water policy, current best practices in water management, relevant policy and regulation, or current & required technology solutions to both increase supply and water efficiency.
  • Sally Gutierrez, Director of the National Risk Management Research Laboratory (NRMRL) for the US EPA, responsible for conducting engineering and environmental technology research on treatment and control of contaminants in drinking water, remediation of contaminated sites, environmental sustainability and environmental technology testing and development.
  • Hank Habicht, Managing Partner, Sail Venture Partners, one of the leading venture investors focusing on water. Hank formerly had leadership positions at the U.S. Department of Justice as Assistant Attorney General in charge of the Environment and Natural Resources Division, and at the U.S. EPA as COO (Deputy Administrator).
  • John Picard, one of the preeminent environmental consultants in North America, a founding member of the U.S. Green Building Council, preeminent environmental consultant and long-standing member of Interface’s Dream Team, and a number of corporations around the world.
  • Michael Kavanaugh, Ph.D., VP and the National Science and Technology Leader for Malcolm Pirnie, Inc, a chemical and environmental engineer with over 35 years of consulting experience in groundwater remediation, risk and decision analysis, water treatment, water reuse, and industrial and municipal wastewater treatment.
  • Mia Javier, Cleantech Group’s Water Technologies Analyst who will highlight her recent research, revealing trends on the state of water innovation globally.

More than ever, multi-national corporations are facing up to water as a real business risk that requires effective management and policies. IT-based solutions that bring visibility to water distribution networks and industrial, commercial and residential water use are helping companies reduce water consumption or lost-water, reduce water pollution and meet regulatory compliance, and improve the energy efficiency of plant/systems operations and distribution.

Cleantech Focus events are part of an on-going series of one-day conferences organized by Cleantech Group held across various cities throughout the world. Cleantech Focus events take a deep dive into the hottest topics in clean technology alongside intimate networking opportunities.

For more information on Cleantech Focus Los Angeles, including agenda and registration, please visit: http://events.cleantech.com/losangeles

For information regarding upcoming Cleantech Forums or other Cleantech Focus events, please visit: http://events.cleantech.com/

About Cleantech Group, LLC
Cleantech Group, the leading global research and advisory firm focused on cleantech innovation, pioneered the clean technology category in 2002. Today, it helps its clients make critical business decisions by providing the latest market intelligence through subscription-based research, custom advisory services, and global networking events. The company’s growing international client base includes global corporations, investors, entrepreneurs, governments, and service providers. The company also produces the premier Cleantech Forum® and Focus™ events worldwide, including upcoming events in Paris, New York, Amsterdam, and Los Angeles. Details are available at http://www.cleantech.com.

MEDIA CONTACT:
Elke Heiss
Sterling Communications, Inc.
Tel: +1 (415) 992-3209
Email: eheiss(at)sterlingpr(dot)com

Dave Ewart
Cleantech Group
415-684-1020 x6700
Email: dewart(at)cleantech(dot)com

London Rental Market Facing Severe Shortage

London Rental Market Facing Severe Shortage

London Rental Market Facing Severe Shortage-Image via Wikipedia

New statistics from one of the leading London letting agencies show that the capital’s rental market has swung decisively in favour of landlords.

Benham & Reeves Residential Lettings, which has 10 offices across the capital, says the market is now driven by a severe shortage of properties to rent — in the three months to October the firm had 23% fewer homes available than during the same period of 2009.

The trend is fuelled further by tenants who are unwilling to move because they know they stand little chance of finding better, cheaper properties. A record 64% renewed their tenancies in the last quarter, one-third higher than in the same period of 2009.

“My advice to tenants is to put down a deposit as soon as they see somewhere they like. That may be the only way to secure a home: the market is so competitive now we’re routinely seeing rival applicants offering above the asking rent. The busiest sectors are those between 500 pounds and 700 pounds, and between 1,000 pounds and 1,500 pounds a week,” explains Marc von Grundherr, director of Benham & Reeves Residential Lettings.

Even dramatic gestures do not guarantee success. Some of the firm’s corporate tenants offer two or three years’ rent up-front; ironically this can have a negative impact on a landlord’s tax status so does not always mean a deal can be done.

Benham & Reeves Residential Lettings’ figures reinforce data from the Association of Residential Lettings Agents, which shows that the number of tenants looking for property to rent is now twice as high as in 2007, and has reached an eight-year high.

London lettings, of course, have amongst the highest demand across the UK according to the ARLA survey — 73% of lettings agents in the capital say they have more tenants on their books than properties to offer, with the imbalance worsening as more and more first time buyers find they cannot obtain mortgages.

“A shortage exists in every sector. For example, there are many more sharers around now because one bedroom apartments are very scarce in central London. This makes it hard for people on lower budgets to find a home,” says Marc von Grundherr.

“My advice to a would-be tenant is simple. If you find something you like, don’t wait — grab it!”

Press enquiries:
Tracie Lack
020 7433 6670
brmarketing@brlets.co.uk

Cedar Shopping Centers, Inc. (NYSE: CDR) today announced that it has completed the purchase of 11501 Roosevelt Boulevard (U.S. Route 1) in Northeast Philadelphia, Pennsylvania for approximately $13.375 million, excluding closing costs and adjustments.  The property consists of an existing 230,000 sq. ft. building on approximately 15.3 acres.  It is immediately adjacent to another property, 11601 Roosevelt Boulevard, now owned by Cedar, consisting of a 430,000 sq. ft. building on approximately 23.9 acres.  Both properties are presently leased to the U.S. General Services Administration for use by the Internal Revenue Service with leases extending to October 15, 2011.  The IRS is expected to vacate the buildings on or before that date.

The purchase for the property was funded with approximately $2.5 million in cash, including, among other things, funds for replacement of reserves and payment of certain transfer taxes, above an existing first mortgage of approximately $13 million due March 2012 assumed by Cedar.

The property, together with the adjacent property, represents an assemblage of nearly 40 acres with an existing signalized entrance on U.S. Route 1, a 10-lane highway with a traffic count of more than 70,000 cars per day at this site.

Upon maturity of the mortgage loan on the property, it is expected that the property will be included in a Company development credit facility.  The Company has announced no present plans for development of the two properties.

About Cedar Shopping Centers

Cedar Shopping Centers, Inc. is a fullyintegrated real estate investment trust which focuses primarily on the ownership, operation, development and redevelopment of “bread and butter”® supermarketanchored shopping centers in coastal midAtlantic and New England states.  The Company presently owns (both exclusively or in joint venture) and manages approximately 15.2 million square feet of GLA at 131 shopping center properties, of which more than 75% are anchored by supermarkets and/or drugstores with average remaining lease terms of approximately 11 years.

For additional financial and descriptive information on the Company, its operations and its portfolio, please refer to the Company’s website at www.cedarshoppingcenters.com.

Foreclosure Victims Get A Helping Hand

Foreclosure Victims Get A Helping Hand

Foreclosure Victims Get A Helping Hand-Image by respres via Flickr

The National Mortgage Complaint Center is looking for a specific group of former homeowners, who were never late on their mortgage payment, who had decided since they were upside down on their mortgage payment they would contact their bank/loan servicer for a loan modification, who were then told by their bank, or loan servicer to stop making mortgage payments, and rather than receiving a loan modification, lost their home to a foreclosure. The group says, “These are the exact people we want to talk to. One of the gigantic problems in the US foreclosure disaster is banks, or loan servicers do not assign a homeowner attempting to take advantage of a loan modification to the same customer service agent. Instead the borrower never talks to the same person twice-no names-e-mail addresses-nothing.” The National Mortgage Complaint Center says, “The group of people we want to hear from are borrowers, who were always on time, who were told to stop making their mortgage payments by the banks, or loan servicer, who wanted a loan modification, but instead got a foreclosure notice.” For more information please contact the National Mortgage Complaint Center at 866-714-6466, or contact the group via its web site at http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center says, “we cannot help people who were already behind in their mortgage payments, before their bank contacted them, or before they were foreclosed on. We think it is very important to find people, who received no notice from the bank, that a foreclosure was imminent, meaning the bank sought foreclosure on their home without first notifying them of bringing the case.” They say, “we know there are tens, and tens of thousands of homeowners, who were not behind on their payments, they simply wanted a loan modification, their bank told them to stop making payments, and instead of getting a loan modification-they got a foreclosure notice-typically without prior notice.You are the people we want to hear from.” For more information please contact the National Mortgage Complaint Center at 866-714-6466, or contact the group via its web site at http://NationalMortgageComplaintCenter.Com

There is no cost to consumers for this investigation, on the part of the National Mortgage Complaint Center.

The National Mortgage Complaint Center is one of the most quoted source in the United States on predatory mortgage lending. The group has been featured, or quoted in the Wall Street Journal, Money Magazine, Newsweek Magazine, Good Housekeeping Magazine, Parade Magazine, The New York Times, The Los Angeles Times, and numerous other news, or media outlets. In the June 2005 edition of Money Magazine, the group warned about a national economic train wreck if banks, and major US homebuilders did not put a stop to appraisal fraud. http://NationalMortgageComplaintCenter.Com.

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