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Colliers and Covendium Team Up to Help Solve the Commercial Mortgage Crisis

Orlando, FL (PRWEB) November 16, 2011

Covendium, the nation’s largest debtor-side commercial loan restructuring and advisory firm, has entered into an alliance with commercial real estate services firm Colliers International South Florida, offering Colliers’ clients market-leading commercial debt consulting and advocacy to help them sell or lower the cost to lease or operate their commercial properties.

Stephen Nostrand, CEO of Colliers International South Florida, points out, “By partnering with Covendium, our clients can lower their commercial debt payments or principal balance, which allows them to realize the underlying value of their assets. This results in stability and the opportunity to operate in alignment with the market.

Covendium’s team of professionals works directly with entrepreneurs to identify the most efficient capital and operating structure based on current market values, lease rates, the restructuring capability of their lender and the interest of outside investors to provide incremental debt or equity to the business. Covendium’s five billion dollar experience in commercial debt, along with its unrivaled experience in dealing with the widest variety of national, regional and community banks, will help Colliers clients sell or lease their property at values that make economic sense.

“Like Colliers, we believe that to get the economy moving again, we postulate to create an environment where entrepreneurs feel confident in buying or leasing commercial space,” says Doug Long, President of Covendium. “Artificially eminent lease and property values will not only delay our economical recovery, but will delay much-taken property maintenance and improvement, which depresses vacant properties another 30-40 percent. In many instances, legacy Covendium clients are more profit-making in this economy than they were at the height of the bubble – and certainly have more time to focus on their business as opposed to worrying about their debt.”

For more information about the partnership with Colliers International or any of Covendium’s services, call (407) 965-3535 or go to http://www.covendium.com.

About Covendium
Covendium specializes in comprehensive commercial debt resolution, restructuring and business consulting for clients whose financial model has been compromised by the economic downturn and the bank liquidity crisis.

For some clients, all they need is an experienced negotiator to provide their lender with the reality of the financial situation and the tool-set to restructure their obligations. For other clients, Covendium provides business consulting and access to non-bank funding sources.

Their team of professional advisors has successfully restructured billions in transactions, with dozens of banking institutions (including major national, regional and community banks) and over 30 separate non-bank financial counterparties.

Bad things happen to good people. Covendium is a premier national debt resolution firm that helps their clients with everything from commercial foreclosure to debt management to commercial debt restructuring to private debt placement.

About Colliers International
Colliers International is the third-largest commercial real estate services company in the world with 12,500 professionals operating out of more than 500 offices in 61 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as the top U.S. real estate company and the latest annual survey by the Lipsey Company ranked Colliers International as the second most recognized commercial real estate brand in the world.

With offices in Miami, Fort Lauderdale and West Palm Beach, Colliers International South Florida is the single source provider of comprehensive commercial real estate services to local, regional and international owners, occupiers, investors and lenders.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Clopton Capital Begins Planning Commercial Truck Insurance Division

Chicago, IL (PRWEB) November 15, 2011

Clopton Capital is a semi truck financing provider and is located in Chicago, IL. They primarily focus on commercial mortgages, SBA loans and niche financing mechanisms such as gas station loans and owner operator financing. The founder of Clopton Capital is Jake Clopton and this press release is part of Clopton Capital’s consistent effort to remain involved with the public, namely their future clients. Clopton Capital can be contacted at CloptonCapital.com.

Clopton Capital has recently entered the planning phase of marketing, field underwriting and issuing commercial truck insurance as an added service to their already existing semi truck financing services. The belief of the firm is that financing a semi truck is their primary goal, selling a truck in tandem to financing it is the second priority and insuring the said semi truck is an ancillary service to increase profits further. The insurance products will be source throughout multiple providers in an effort to be competitive with the other online insurance retailers in the same market. “I’m really excited to expand operations into a market that is so lucrative and has so little competition on the Internet. You rarely hear of anyone competing in the business of commercial truck insurance”, said Jake Clopton, the founder of Clopton Capital.

Clopton Capital’s future plans involve developing and promoting a website specifically for commercial truck insurance and becoming a well known name for both semi truck financing and semi truck insurance throughout the trucking community. There are currently no plans to expand the offerings within the realm of semi truck services any further, but the firm is open to that in the future.

Clopton Capital can be contacted at their website CloptonCapital.com or at 866.647.1650 during regular business hours central time. Their website contains more specific information about their commercial loans. Their website dedicated entirely to semi truck financing is SemiTruckSource.com.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Question by MrsSilentWarrior: Is it true that commercial mortgage loans are all ARM’s?
When we got our commercial loan, our loan commanded told us that “all commercial mortgages are ARM.” Although we got in on the low interest rate boom 4 yrs ago, our payments are nowadays almost doubled. Any suggestions?

Best answer:

Answer by Carolinahomerates.com
fix it! i have never heard such a thing……and i mean doctoring it by putting it in a fixed mortgage.What is the rate? and the loan amount?

Add your own answer in the comments!

Multi-party Suit Filed by Borrowers Against Aurora Bank et al

United Foreclosure Attorney Network

Roseville, California (PRWEB) November 11, 2011

On Tuesday October 25, 2011, United Foreclosure Attorney Network (UFAN) filed suit in Superior Court in Sacramento (case # 34-2011-00112919) on behalf of borrowers allegedly injured by the lending practices of Aurora Bank and others believed to have misled borrowers.

The complaint alleges that Aurora was one of the major players in a scheme to make fast, easy profits at the expense of proper mortgage underwriting procedures. By packing subprime loans into mortgage backed securities that were sold to investors, a bank could recoup the funds lent immediately. The suit argues that this process encouraged lenders and mortgage brokers to aggressively push high-cost subprime loans on anyone they could convince to sign on the dotted line.

According to court documents, plaintiffs argue that because of the sale of their loans, they did not receive the benefit of the contract for which they bargained. Plaintiffs, believing they would be placed into a traditional Lender/Borrower relationship, later found that they did not have a “lender” with whom they could deal. Servicers are limited in making changes to contracts when circumstances are unforeseeably changed. Furthermore, loan servicers have an incentive to foreclose whereas a lender has the incentive to modify a loan if it would be more profitable in the long run. If many of the homeowners were still in the traditional lender/borrower relationship, they could have restructured the mortgage for a more desirable result for both parties. In the current situation, the only entity profiting is the loan servicer. The complaint details how many Plaintiffs diligently sought modification of their loans but were denied either because the servicer had no authority to grant a modification or because the servicer chose not to grant a modification.    

Court documents show that Aurora is alleged to have used a variety of tactics to generate the highest amount of fees possible without regard to the injury it would cause borrowers. One tactic is “equity stripping,” which refers to making a loan based on home equity without regard to the borrower’s ability to pay. These loans are set up to fail and lead to subsequent foreclosure. Aurora is also accused of “flipping” which refers to encouraging frequent refinances by homeowners. Borrowers receive cash up front but do not realize that the fees added to their existing loan balance often exceed the amount of cash received – gradually increasing the amount owed over time. Unsophisticated borrowers are especially susceptible to these types of loans because lenders and brokers often use aggressive sales tactics and represent that they are the only type of loan available.

The complaint alleges that, in addition to harmful loan types, appraisers used by Aurora were encouraged to inflate property values in order to give borrowers higher loan amounts. The higher the loan amount, the more money Aurora was able to make on the sale of the loan to investors. It is argued that the bank incentivized appraisers to falsify property valuations in order to secure a higher loan to sell to investors. The complaint alleges that Plaintiffs borrowed excessively in reliance on inflated appraisals and other false statements.

The complaint further alleges that the ownership of Plaintiffs’ notes is unknown, thus questioning, among other things, Aurora’s right to enforce the notes. The complaint requests declaratory relief on several matters relating to the parties’ rights and duties under the contract.

UFAN has currently has lawsuits pending against Bank of America (case # 2:11-CV-02413) and Wells Fargo (case # 2:11-CV-02684) in Federal Court for the Eastern District of California, and against JP Morgan Chase (case # C-11-02390) in Superior Court of Contra Costa County on behalf of borrowers alleged to have been injured by these banks. UFAN will continue to fight for the rights of its clients.

ABOUT THE UNITED FORECLOSURE ATTORNEY NETWORK

UFAN Legal Group, PC dba United Foreclosure Attorney Network (UFAN) is a Roseville, California-based law firm providing bonding litigation and other debt related legal services. The dedicated attorneys and staff at UFAN work tirelessly to seek justice and fight for the rights of its clients. For more information call toll free 1-866-400-4242.

This release may represent attorney advertisement. The information in this release and on the UFAN website (ufanlaw.com) is for cosmopolitan information purposes merely. Nothing in this release or on the UFAN website should be taken as effectual advice. Prior successes are no guarantee of future performance. Litigation is inherently incertain and results in litigation are ne’er insured.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Question by G G: Is it illegal to do Real Estate and Mortgage Loans?
I heard that a swollen known real estate company was doing both loans and selling real estate and they were arrested recently. Is there a law that prohibits this practice. If you are licensed must you chose one or the other?

Best answer:

Answer by bostonianinmo
Of course not.How do you “arrest” a company??

Know better? Leave your own answer in the comments!

Clopton Capital Begins Marketing Semi Trucks as Part of Semi Truck Financing Department

Chicago, IL (PRWEB) November 07, 2011

Clopton Capital is a semi truck financing provider and is located in Chicago, IL. They primarily focus on commercial mortgages, SBA loans and niche financing mechanisms such as gas station loans and owner operator financing. The founder of Clopton Capital is Jake Clopton and this press release is part of Clopton Capital’s consistent effort to remain involved with the public, namely their future clients. Clopton Capital can be contacted at CloptonCapital.com.

Clopton Capital has recently begun marketing semi trucks through their website SemiTruckSource.com in conjunction with their already existing semi truck financing business. The plan is to provide a conduit of interested customers to their dealership partners. The belief is that this will increase the number of trucks they our given the opportunity to finance and increase their overall revenue by merging two very relevant business models. At first the interface will be archaic, but the firm intends to implement a dynamic PHP script to list the trucks in such a way that they can be searched for by an end user. “This is just another way for us to utilize our already established presence as a valuable service to truck drivers throughout America. Many dealerships were extremely interested in working with us, in fact far more than we expected”, said Jake Clopton, the founder of Clopton Capital.

Clopton Capital’s future plans involve developing more semi truck related services including a truck insurance brokerage operation and various other commercial loan solutions. “There are many businesses and solutions we can likely cross market with out already existing prospects and clients. Now that we have a market to tap into it would be foolish to neglect it”, said Matt Reed, an associate of Clopton Capital.

Clopton Capital can be contacted at their website CloptonCapital.com or at 866.647.1650 during regular business hours central time. Their website contains more specific information about their commercial loans. Their website dedicated entirely to semi truck financing is SemiTruckSource.com.

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©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Homes.org Releases Mortgage Rates Update – Rates Fall Again

Austin, TX (PRWEB) November 03, 2011

Homes.org, a fast growing real estate search portal, has released analysis of mortgage rates which shows rates remained largely unchanged despite the announcement of an official deal to help Europe’s struggling economy and President Obama’s announcement that there will be changes in the rules for home loan refinance in an attempt to make it easier for homeowners that are underwater. While the 15-year fixed rate stayed the same the 30-year fixed rate fell by just .05%.

         4.10% – average rate for a 30-year set rate mortgage
         3.38% – average rate for a 15-year fixed rate mortgage

Although these rates are low compared to five years ago, they aren’t the lowest on record. That number was met 3 weeks ago when the 30-year fixed rate was 3.94% and the 15-year fixed rate was 3.26%.

However, this week there are a few announcements and events taking place that could affect interest rates. Most influential may be the two-day Fed meeting that commenced Wednesday. Fed Chairman Ben Bernanke made closing statements which included comments on interest rates. Most notable were his comments on mortgage rates. Bernanke stated that, “tight credit standards have prevented many people from purchasing or refinancing their homes and therefore low mortgage rates that we have achieved have not been as effective as we had hoped. So monetary policy may be somewhat less powerful in the current context than it has been in the past, but nevertheless it is affecting economic growth and job creation.”

There will also be a Jobs Report on Friday which the markets will be watching closing. New job numbers for October are predicted to remain steady, keeping the unemployment rate at around 9.1% nationwide.

Homes.org is predicting that there won’t be much movement in mortgage rates, however there may be a slight increase due to Europe’s economic situation which remains unresolved and Bernanke’s statements on the lack of effect lowered interest rates are having on consumers’ ability to purchase and refinance homes.

To see more information on mortgage rate trends for a specific home that is currently listed for sale, please visit: http://www.homes.org/

About Homes.org
Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not circumscribed to, real estate listings, home owner seeded tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and well-informed tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.
About Star Nine Ventures®

Star Nine Ventures® is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine’s core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Mortgage Industry’s Top Domain Name for Sale

Reverse Mortgages

Boston, Mass (PRWEB) October 31, 2011

The industry defining domain name, ReverseMortgages.com, is now available exclusively for sale with DomainAdvisors. While average home values decline, statistics show that over 21% of homeowners have little or no equity in their homes. However, based on a report issued from Zillow.com, there are millions of Americans who do have plenty of equity, seniors.

The idea of a reverse mortgage is not a new concept, it has been offered in the United States since the 1960’s, but has not caught on until recently. According to the Federal Housing Administration (FHA), who backs the majority of Reverse Mortgage loans through its Home Equity Conversion Mortgage (HECM) division, only 115 Reverse Mortgages were originated in 1991, compared 114,692 in 2009. As the demand for Reverse Mortgages continues to increase along with the number of tech savvy seniors, ReverseMortgages.com could one of the most prime internet real estate domains available.

“On the verge of retirement, Baby Boomers face a down economy, failed pensions, unemployment, and major losses in retirement savings. In order to sustain the same and well-earned standard of living they are used to millions of Seniors will be turning to a Reverse Mortgage solution in the near future,” said Tessa Holcomb, CEO of DomainAdvisors. “A category defining domain name like ReverseMortgages.com will continue to grow in popularity and demand as more and more Baby Boomers Retire. ”

For additional information or offer guidelines, contact Senior Advisor, Brooke Hernandez, at (508) 689-9569, ext. 401 or brooke(at)domainadvisors(dot)com

About DomainAdvisors

DomainAdvisors assists domain owners and online businesses in the overall planning and execution of their domain strategy. DomainAdvisors offers resources with the knowledge and understanding necessary to provide invaluable guidance during the entire lifecycle of a domain. Services range from consultancy to acquisitions, to all elements of monetization, development, branding and sales. Domains can be complicated and DomainAdvisors provides the opportunity to leverage years of industry experience to help maximize success.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Malk Sustainability Partners Comments on “Occupy Wall Street” and Financial Institutions’ Social License to Operate

San Diego, CA (PRWEB) October 31, 2011

In a recent Harris Poll, banks ranked low (just ahead of airlines) among industries “doing a good job”. With the Occupy Wall Street protests gaining momentum, it is clear that the now months-long demonstrations illustrate the exasperation among some in the US with the perceived influence that financial institutions have over government. Chaotic, misplaced whining of pampered, unemployable middle class youth or justified expression of outrage at a political system that has favored its corporate citizens for far too long? Outside the masses huddled in Zucotti Park, it is generally acknowledged that the financial services sector has a reputation problem. So why should banks worry about how they are viewed by the average American? This is an especially valid question if a majority of a firm’s lending is to large corporate clients and institutions rather than “mom and pop” small business loans or mortgages. Even if individual consumers detest banks (and can’t distinguish investment banks from other parts of the financial services sector), they too need access to credit and other financial services to function.

Malk Sustainability Partners, a San Diego corporate sustainability firm that partners with businesses worldwide, reminds all financial services companies about the social license to operate. Andrew Malk, Managing Partner of Malk SP, discusses the social license, “For an industry and individual companies within it to survive and boom, the market and societies in which they operate have to approve, or at least condone, their activities. When this ‘social license’ is qualified or revoked, the industry gone less profitable and more hard to operate or survive within.” Malk mention Altria, formerly Phillip Morris, as an example of a company that had to rethink its business model and corporate identity, as its societal license to operate grew more restricted in recent decades.

“There is already substantial frustration in the United States with banks, their fee structures, and their perceived influence over the federal government. Movements such as ‘Occupy Wall Street’ only add additional oomph to the reputational headwinds blowing against the financial services sector. Should these winds grow strong enough, they may eventually sway regulators to rethink policies and result in outcomes that are unfavorable to the banking industry,” adds Malk.

One may ask where does sustainability come in? Zach Goldman, Partner at Malk SP, explains, “Essentially it is an element of good corporate citizenship that, combined with other behaviors, helps to maintain and enhance an industry’s social license to operate. We’ve often had financial services clients remark that regulators on both sides of the political aisle will ask them about green lending activities in meetings not specifically tied to energy or other environmentally-intensive subjects. We’ve also seen this in our direct experience with public sectors leaders, both in the US and in Asia. Regardless of party ideology or agenda, no leader wants to be seen directly as anti-environment.” Goldman mentions that BP now considers itself “Beyond Petroleum” and not even Sarah Palin wants to completely disband the US EPA.

To summarize, Malk Sustainability Partners reminds all financial institutions that a demonstrable contribution toward a more sustainable future can help banks and other organizations to cultivate a more favorable environment in which to operate. As Goldman concludes, “Of course there are other important elements to consider (like usurious fees), but building a better future certainly helps to maintain the social license to operate; a licence which Occupy Wall Street remind us is necessary.”

About Malk Sustainability Partners
Malk Sustainability Partners (MSP), a management consultancy focused on environmental sustainability, guides forward-thinking businesses around the world to profit from operating in better balance with the environment.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Clopton Capital Launches “Working Capital Exists!” Campaign

Chicago, IL (PRWEB) October 29, 2011

Clopton Capital is provider of working capital that is located in Chicago, IL. They primarily focus on commercial mortgages, SBA loans and niche financing mechanisms such as gas station loans and semi truck financing. The founder of Clopton Capital is Jake Clopton and this press release is part of Clopton Capital’s consistent effort to remain involved with the public, namely their future clients. Clopton Capital can be contacted at CloptonCapital.com.

Clopton Capital has launched an article campaign on the Internet this week called “Working Capital Exists!” as a way to promote their commercial lending services and educate business owners about the alternatives to bank financing many have come to rely upon. “The goal of this campaign is clear, we want the business owners and commercial real estate owners to know that there are reliable alternative sources for commercial lender. Just because you can’t get a traditional loan from your bank doesn’t mean you can’t get working capital elsewhere”, said Jake Clopton, the founder of Clopton Capital. Clopton Capital believes they can provide the funding that many banks refuse to because they maintain relationships with numerous niche financing outlets for numerous types of businesses, such as gas stations and semi truck companies.

Clopton Capital intends to launch similar campaigns for other commercial lending services they offer with a similar message. “We want the truck drivers, gas station owners and the owners of multi-famiy properties to know that we have solutions”, said Matt Reed, an associate of Clopton Capital. Their current campaign to promote their abilities is being conducted through hundreds of free article directory websites throughout the Internet. It is the firm’s belief that if the engage in this type of marketing consistently they will become the largest commercial lender online.

Clopton Capital can be contacted at their website CloptonCapital.com or at 866.647.1650 during regular business hours central time. Their website contains more specific information about their bridge loan products. Their website dedicated to working capital is WorkingCapital.ws.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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