Specialty finance company J.G. Wentworth recently funded its 1,000th structured settlement transaction since receiving a $100 million equity infusion in early June.
According to J.G. Wentworth Chief Executive Officer David Miller, the funding represents a milestone for the company. “Our 1,000th transaction demonstrates J.G. Wentworth’s commitment to help people during these challenging times.”
Mr. Miller said that the scarcity of credit during the past year has severely restricted the ability of the settlement funding industry to purchase periodic payments that customers needed or wanted to sell. Many funding companies, he said, made commitments to purchase payments but did not have the financing to consummate the transaction, leaving their customers without a needed source of liquidity.
“Because of our continuous record of service, strong underwriting culture and leadership position in the industry,” Mr. Miller said, “J.G. Wentworth was able to secure funding in these unprecedented times, and as a result, has been able to fulfill our funding commitments to our customers on a timely and consistent basis.”
Mr. Miller said J.G. Wentworth’s 1,000th funding typified the importance of access to liquidity for the periodic payments that consumers frequently receive as part of a legal settlement. “This gentleman had just won custody of his son. But with his other two boys already living with him in his two bedroom house, he needed to add a new bedroom to his home.” Mr. Miller noted that the client’s periodic payments from a prior legal settlement did not meet his need for immediate cash. “But because we were able to fund several of his payments in advance for him, he was able to raise the cash needed to put a roof over his family’s head.”
Mr. Miller said that with summer over, J.G. Wentworth transaction volume is accelerating. “As the credit markets improve, we anticipate that J.G. Wentworth will once again reach our historical funding levels.”
If anything, he said, demand among customers has increased. “The depressed funding levels of the past year were solely a function of the credit markets,” Mr. Miller said. “The scarcity of credit which has so profoundly affected our industry also has impacted our traditional customer base, leading to increased demand for liquidity. We are delighted to celebrate this milestone and our continuing ability to assist with our customers’ needs.”
Source
Tuesday, December 15, 2009
Saturday, November 28, 2009
Fairfield Funding Hires New Staff to Accommodate Company’s Structured Settlement Division Growth while Continuing a High Level of Customer Service
Fairfield Funding, Georgia’s leading provider of structured settlement and annuity purchasing services, has hired new staff to accommodate the tremendous growth in the structured settlement division and improve customer service. David Gentile and Piotr Lubczynski have just joined the growing Atlanta based financial company. They both have extensive experience in customer relations and account management.
Scott Dingman, Managing Partner at Fairfield Funding, says: “we are very excited with the tremendous growth in our structured settlement division. In order to ensure that we are continuing to provide our customers with the highest level of service we are very pleased to announce that Piotr and David have joined the Fairfield family.”
The structured settlement funding segment is very specialized and given the high number of players within the space, it is also very competitive. Fairfield Funding’s growth was achieved thanks to the attention to details, fast execution and above all excellent customer care. The structured settlement company is a direct funder and in combination with a continuous focus on streamlining operating costs, the financial firm is able to pass considerable savings on customers. Attentive customer service combined with lower costs explains the current successful growth.
Fairfield Funding extensive suite of structured settlement funding services includes cash for annuity, cash for settlement, cash for structured settlement payments, cash for lottery, pre-settlement, life settlement, and other annuities. The goal of the experienced funding services team is to deliver funding solutions targeted to clients’ individual and unique needs and allowing them to get the most cash from their structured settlement. In most cases the friendly Fairfield Funding consulting team recommends its clients to keep as much as possible of their structured settlement payments and only use the minimal amount to reach their financial needs. Structured settlements can be converted into cash payments either in full or in part. By choosing to sell portions of a structured settlement, the transaction can be customized so that both a lump sum of cash is received while the steady cash flow provided by the annuity payments continues.
“I really enjoy working closely with each customer to develop a solution that fits their current needs.” Piotr Lubczynski.
Fairfield Funding (a Division of APIS) is a full service funding company specializing in the purchasing and funding of structured settlements, life settlements, pre-settlement, lottery, and other annuities. Collectively, Fairfield Funding management has over 50 years of experience in the financial services arena. The Atlanta based company is specialized in meeting the short-term financial needs of its clients through low cost funding transactions. Savings from low operating costs are passed on to its clients.
Source
Scott Dingman, Managing Partner at Fairfield Funding, says: “we are very excited with the tremendous growth in our structured settlement division. In order to ensure that we are continuing to provide our customers with the highest level of service we are very pleased to announce that Piotr and David have joined the Fairfield family.”
The structured settlement funding segment is very specialized and given the high number of players within the space, it is also very competitive. Fairfield Funding’s growth was achieved thanks to the attention to details, fast execution and above all excellent customer care. The structured settlement company is a direct funder and in combination with a continuous focus on streamlining operating costs, the financial firm is able to pass considerable savings on customers. Attentive customer service combined with lower costs explains the current successful growth.
Fairfield Funding extensive suite of structured settlement funding services includes cash for annuity, cash for settlement, cash for structured settlement payments, cash for lottery, pre-settlement, life settlement, and other annuities. The goal of the experienced funding services team is to deliver funding solutions targeted to clients’ individual and unique needs and allowing them to get the most cash from their structured settlement. In most cases the friendly Fairfield Funding consulting team recommends its clients to keep as much as possible of their structured settlement payments and only use the minimal amount to reach their financial needs. Structured settlements can be converted into cash payments either in full or in part. By choosing to sell portions of a structured settlement, the transaction can be customized so that both a lump sum of cash is received while the steady cash flow provided by the annuity payments continues.
“I really enjoy working closely with each customer to develop a solution that fits their current needs.” Piotr Lubczynski.
Fairfield Funding (a Division of APIS) is a full service funding company specializing in the purchasing and funding of structured settlements, life settlements, pre-settlement, lottery, and other annuities. Collectively, Fairfield Funding management has over 50 years of experience in the financial services arena. The Atlanta based company is specialized in meeting the short-term financial needs of its clients through low cost funding transactions. Savings from low operating costs are passed on to its clients.
Source
Sunday, November 15, 2009
Planning is key to success
Australian consumers like to think of themselves as financially literate people, able to assess financial products and make an informed choice. Paul Ryan disagrees.
Ryan is a founder of a website called Home Loan Hints, which offers borrowers an opportunity to ask questions about mortgages.
Ryan says: “It is true that we know more about finance than we did a decade ago but we are still not good at doing the preparation before going out to get a loan or reviewing the loan. We are not good on the detail. Ask people what their home loan or credit card interest rate is and most can't tell you.”
Ryan is also the head of non-bank lender and broker Opportune Home Loans. He says he set up Home Loan Hints without any Opportune branding because he felt that borrowers needed an independent source of advice. He has assembled a panel of home-loan experts to answer the questions.
The questions and answers stay on the site so browsers can consult them. Questions cover whether to fix loans, buying investment properties, the pros and cons of reverse mortgages, government grants, insurance and how to work out loan serviceability.
Ryan recommends borrowers attend to a few important matters before they go looking for a home loan. “Many young borrowers have no idea about their credit rating. Apart from the past couple of years, credit has been very easy to get and people have become accustomed to applying for multiple credit cards and store finance. They do not realise that each time they apply for credit it goes on their credit file.
“Their credit rating is something they have to look after," he says. "They should get a copy of their credit rating and make sure there are no mistakes on it.”
Ryan says savings are critical. Most lenders now require a minimum 5 per cent of “genuine” savings before they will consider providing mortgage finance. That means deposits that did not come from government grants or gifts from parents.
Borrowers need to look at different loan options and work out what features they want. “People need to assess this question critically. A lot of people end up paying a premium for redraw and offset functions they never use. A cheap, basic variable-rate loan might serve them just as well,” he says.
Ryan says lenders will assess the borrower's ability to service a loan based on interest rates that are 2 percentage points higher than the current rates. People can easily check that out for themselves. “People ask a lot about costs involved in making additional payments, paying a loan out early and so on. This is after they have taken the loan out. These are things that should be checked out before signing a contract.
“They should have a plan to review their loan on a regular basis, either with the lender, a broker or on their own. They need to keep a list of their requirements when they borrow and then refer back to that list to make sure the loan is meeting their needs."
How to bridge the gap
Finding bridging finance is one of the most difficult tasks a property buyer can face, says Opportune Home Loans director Paul Ryan. “Bridging finance is expensive and
hard to find. If you have bought a new property before the old one is sold, the first thing you have to do is negotiate a long settlement period on the purchase and
arrange the sale of the old property as quickly as possible.”
Ryan says the most popular bridging loan with the loan writers he knows is St George’s Relocation Home Loan. The loan is structured so the borrower only
borrows the amount of the deposit for the new property at purchase and then draws down the balance at settlement.
Source
Ryan is a founder of a website called Home Loan Hints, which offers borrowers an opportunity to ask questions about mortgages.
Ryan says: “It is true that we know more about finance than we did a decade ago but we are still not good at doing the preparation before going out to get a loan or reviewing the loan. We are not good on the detail. Ask people what their home loan or credit card interest rate is and most can't tell you.”
Ryan is also the head of non-bank lender and broker Opportune Home Loans. He says he set up Home Loan Hints without any Opportune branding because he felt that borrowers needed an independent source of advice. He has assembled a panel of home-loan experts to answer the questions.
The questions and answers stay on the site so browsers can consult them. Questions cover whether to fix loans, buying investment properties, the pros and cons of reverse mortgages, government grants, insurance and how to work out loan serviceability.
Ryan recommends borrowers attend to a few important matters before they go looking for a home loan. “Many young borrowers have no idea about their credit rating. Apart from the past couple of years, credit has been very easy to get and people have become accustomed to applying for multiple credit cards and store finance. They do not realise that each time they apply for credit it goes on their credit file.
“Their credit rating is something they have to look after," he says. "They should get a copy of their credit rating and make sure there are no mistakes on it.”
Ryan says savings are critical. Most lenders now require a minimum 5 per cent of “genuine” savings before they will consider providing mortgage finance. That means deposits that did not come from government grants or gifts from parents.
Borrowers need to look at different loan options and work out what features they want. “People need to assess this question critically. A lot of people end up paying a premium for redraw and offset functions they never use. A cheap, basic variable-rate loan might serve them just as well,” he says.
Ryan says lenders will assess the borrower's ability to service a loan based on interest rates that are 2 percentage points higher than the current rates. People can easily check that out for themselves. “People ask a lot about costs involved in making additional payments, paying a loan out early and so on. This is after they have taken the loan out. These are things that should be checked out before signing a contract.
“They should have a plan to review their loan on a regular basis, either with the lender, a broker or on their own. They need to keep a list of their requirements when they borrow and then refer back to that list to make sure the loan is meeting their needs."
How to bridge the gap
Finding bridging finance is one of the most difficult tasks a property buyer can face, says Opportune Home Loans director Paul Ryan. “Bridging finance is expensive and
hard to find. If you have bought a new property before the old one is sold, the first thing you have to do is negotiate a long settlement period on the purchase and
arrange the sale of the old property as quickly as possible.”
Ryan says the most popular bridging loan with the loan writers he knows is St George’s Relocation Home Loan. The loan is structured so the borrower only
borrows the amount of the deposit for the new property at purchase and then draws down the balance at settlement.
Source
Wednesday, October 28, 2009
Debt Settlement Industry Benefits from Self-Regulation Effort
Responding to New York Attorney General Andrew Cuomo’s recent subpoenas to 14 debt settlement firms and the growing outcry from consumer protection organizations over industry practices, debt settlement companies now have access to online employee training that teaches counselors how to run an ethical – and profitable – business that delivers real value to the client. Industry experts and consumeradvocates have collaborated to develop the comprehensive e-learning curriculum, The training program accepts Mr. Cuomo’s challenge to rein in the renegade elements within our industry,” said Global Debt Systems spokesperson Boun Vilailath. “People facing financial hardship, who are just trying to do the right thing, should not be victimized. Debt settlement is a valuable tool that can help many people in debt … but not most people in debt. The program teaches companies how to implement a checklist approach for screening prospective debt settlement clients that eliminates ill-suited applicants and identifies potential problems that could arise for viable program candidates. That process mandates that the consumer make an informed acceptance of those risks before entering a debt settlement program.”
The program also advocates for a simplified, results-based fee structure using a contingency fee model similar to that of a plaintiff’s attorney. The fee structure should facilitate the consumer’s quick completion of the program and require payments to the debt settlement company only after a settlement has been negotiated and accepted by all parties. The debt counselor provides easily defined services with predictable costs, similar to a real estate agent, to represent and facilitate the buyers and sellers of settled debt.
Source
The program also advocates for a simplified, results-based fee structure using a contingency fee model similar to that of a plaintiff’s attorney. The fee structure should facilitate the consumer’s quick completion of the program and require payments to the debt settlement company only after a settlement has been negotiated and accepted by all parties. The debt counselor provides easily defined services with predictable costs, similar to a real estate agent, to represent and facilitate the buyers and sellers of settled debt.
Source
Thursday, October 15, 2009
Cecil Hotel Courting Affordable Housing Buyer
After a protracted fight with the city over its status on the residential hotel list, the owners of Main street's Cecil Hotel are negotiating a deal to sell the 600-room structure to a group that would primarily operate it as affordable housing.
Fred Cordova, a Vice President at Colliers and a member of hotel ownership group 640 South Main Partners, LLC, said today that the sale is "a compromise solution that might reasonable satisfy all the parties."
The parties involved in two suits involving the hotel jointed filed a request with the court on August 12, asking that a scheduling conference be postponed while a potential sale is negotiated, "upon the closing of which the buyer will be required to use the Hotel primarily for affordable housing."
Bill Lanting, General Manager of the Cecil and head of the Lanting Hotel Group, says that such a deal is far from done. "There are, and have been, continuing discussions with interested buyers - as has been the case since I got involved with the property two years ago - but I can assure you that nothing is in a "final negotiations" stage," he said via email this afternoon.
The August 12 filing says that the owners are "in final negotiations for the execution of a non-binding letter of intent."
Cordova's group bought the 1927 hotel in May of 2007 for $28.5 million. He declined to disclose the price that was being negotiated for the current sale, or to say who the potential buyer would be. (Disclosure: Cordova has contributed opinion pieces to blogdowntown)
The lawsuit between the ownership group and the city stems from the structure's inclusion on the City's residential hotel list.
A city ordinance passed in 2008 -- and previously instituted on an interim ordinance in 2006 -- requires that residential hotels provide replacement housing units for any rooms converted from residential to transient use.
The Cecil group filed a suit against the City disputing the hotel' residential designation. That case is now before the United States District Court. Tenants of the Cecil represented by LACAN filed a countersuit, looking to retain the residential status.
Cordova said he believed that the potential buyer was still working out a business plan for the structure, but that he expected the Cecil's boutique Stay Hotel to remain in operation.
The filing says that the City and LACAN have agreed to good faith negotiations toward a settlement of the cases should a sale go through.
So is the filing and possible sale a sign that Cordova's group gave up on its case? No, but "it's the least bitter pill with the least risk," he said. "There is motivation on everyone's part to resolve the impasse."
Source
Fred Cordova, a Vice President at Colliers and a member of hotel ownership group 640 South Main Partners, LLC, said today that the sale is "a compromise solution that might reasonable satisfy all the parties."
The parties involved in two suits involving the hotel jointed filed a request with the court on August 12, asking that a scheduling conference be postponed while a potential sale is negotiated, "upon the closing of which the buyer will be required to use the Hotel primarily for affordable housing."
Bill Lanting, General Manager of the Cecil and head of the Lanting Hotel Group, says that such a deal is far from done. "There are, and have been, continuing discussions with interested buyers - as has been the case since I got involved with the property two years ago - but I can assure you that nothing is in a "final negotiations" stage," he said via email this afternoon.
The August 12 filing says that the owners are "in final negotiations for the execution of a non-binding letter of intent."
Cordova's group bought the 1927 hotel in May of 2007 for $28.5 million. He declined to disclose the price that was being negotiated for the current sale, or to say who the potential buyer would be. (Disclosure: Cordova has contributed opinion pieces to blogdowntown)
The lawsuit between the ownership group and the city stems from the structure's inclusion on the City's residential hotel list.
A city ordinance passed in 2008 -- and previously instituted on an interim ordinance in 2006 -- requires that residential hotels provide replacement housing units for any rooms converted from residential to transient use.
The Cecil group filed a suit against the City disputing the hotel' residential designation. That case is now before the United States District Court. Tenants of the Cecil represented by LACAN filed a countersuit, looking to retain the residential status.
Cordova said he believed that the potential buyer was still working out a business plan for the structure, but that he expected the Cecil's boutique Stay Hotel to remain in operation.
The filing says that the City and LACAN have agreed to good faith negotiations toward a settlement of the cases should a sale go through.
So is the filing and possible sale a sign that Cordova's group gave up on its case? No, but "it's the least bitter pill with the least risk," he said. "There is motivation on everyone's part to resolve the impasse."
Source
Monday, June 8, 2009
Buyer of Structured Settlement
A buyer of structured settlements can help you get the lump sum of cash you need! Do you have a structured settlement or an annuity and need cash now, and fast? Do you need to sell your structured settlement, annuity settlement, or annuity for a lump sum, cash payout? You need a buyer of structured settlement to get the cash you need!
Buyer of Structured Settlement - Your Hidden Option
A buyer of structured settlements is your hidden financial option when you need a lump sum of cash, now!
Your structured settlement, annuity settlement, or annuity, pays you in installments spread over a period of time. This payment method provides long-term income security and is often income tax-free. But, your financial situation changes over time and you may need your cash fast and in lump sums. Your structured settlement payments, however, cannot be increased nor can you advance your payments. That means when you need cash fast or in lump sums, your structured settlement payments can't help you.
A buyer of structured settlement, however, can offer the financial solution you need. A buyer of structured settlement can buy the future payments from you and pay you the lump sum of cash that you need!
What does a buyer of structured settlement do?
A buyer of structured settlement buys the future payments from your structured settlement, annuity settlement, or annuity. The buyer pays you a lump sum of cash value for those future payments.
In order for the buyer of structured settlements to buy your payments and pay you cash, you need to sell the future payments from your structured settlement. The buyer of structured settlement then pays you cash in a lump sum for those payments. You get the cash you wanted, in a lump sum, while the buyer takes over collecting the payments.
Source
Buyer of Structured Settlement - Your Hidden Option
A buyer of structured settlements is your hidden financial option when you need a lump sum of cash, now!
Your structured settlement, annuity settlement, or annuity, pays you in installments spread over a period of time. This payment method provides long-term income security and is often income tax-free. But, your financial situation changes over time and you may need your cash fast and in lump sums. Your structured settlement payments, however, cannot be increased nor can you advance your payments. That means when you need cash fast or in lump sums, your structured settlement payments can't help you.
A buyer of structured settlement, however, can offer the financial solution you need. A buyer of structured settlement can buy the future payments from you and pay you the lump sum of cash that you need!
What does a buyer of structured settlement do?
A buyer of structured settlement buys the future payments from your structured settlement, annuity settlement, or annuity. The buyer pays you a lump sum of cash value for those future payments.
In order for the buyer of structured settlements to buy your payments and pay you cash, you need to sell the future payments from your structured settlement. The buyer of structured settlement then pays you cash in a lump sum for those payments. You get the cash you wanted, in a lump sum, while the buyer takes over collecting the payments.
Source
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