ASSET ACCEPTANCE CAPITAL CORP. ANNOUNCES FIRST QUARTER 2008 RESULTS
WARREN, Mich., April 30 /PRNewswire-FirstCall/ -- Asset Acceptance Capital Corp. (Nasdaq: AACC), a leading purchaser and collector of charged-off consumer debt, today announced first quarter 2008 results, highlighted by a 4.6 percent improvement in cash collections and reduced operating expenses. Total revenues declined by 4.4 percent versus the same period last year.
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SIMPLETUITION ADDS DISCOVER STUDENT LOANS
NEWTON, Mass. - SimpleTuition, Inc., a company dedicated to helping students and parents make sense of education financing choices, today announced an agreement with Discover Financial Services (NYSE: DFS) to include its full line of student loan products - Discover Student Loans - among SimpleTuition's online offerings. Discover Student Loans include federal Stafford, federal PLUS, and private loans that cover the costs of higher education - tuition, housing, books and more.
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SPACE IS STILL AVAILABLE FOR THE RECOVERY MANAGEMENT STRATEGIES AND TECHNIQUES CLASS
This course will bring real-world experience and answers to the challenges that Recovery Managers face in structuring and managing the external recovery operation. Topics covered will include Agency Selection, Placement Strategies, Performance Measurements, Contracts, Work Standards, Settlements, Auditing, Compliance, and Financial Issues. The first session is scheduled for May 20 - 21, 2008 in Los Angeles, CA at the Westin Los Angeles Airport (LAX).
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TRANSUNION.COM MORTGAGE TREND ANALYSIS FINDS THAT MORTGAGE LOAN DELINQUENCY RATES EXPECTED TO RISE MORE THAN 34 PERCENT BY YEAR END
CHICAGO, April 29 /PRNewswire/ -- Analysis of trends in the mortgage industry during the 4th quarter of 2007 was made available today on TransUnion.com. The report is the third in an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data to be released on TransUnion's Web site.
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CREDIT ACCEPTANCE ANNOUNCES FIRST QUARTER 2008 EARNINGS
SOUTHFIELD, Mich., Apr 29, 2008 (PrimeNewswire via COMTEX News Network) -- Credit Acceptance Corporation (Nasdaq:CACC) (referred to as the "Company", "we", "our", or "us") announced consolidated net income of $17.6 million, or $0.57 per diluted share, for the three months ended March 31, 2008 compared to consolidated net income of $15.4 million, or $0.49 per diluted share, for the same period in 2007.
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WACHOVIA COULD TAKE $1 BILLION CHARGE TIED TO LEASES
Wachovia Corp., the fourth-largest U.S. bank by assets and the largest in Monmouth and Ocean counties, expects to record a non-cash charge of $800 million to $1 billion tied to leasing transactions that the company stopped making in 2003.
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GM POSTS BIG LOSS AS U.S. SALES HURT
NEW YORK (CNNMoney.com) -- General Motors Corp. reported a large first-quarter loss Wednesday, due in large part to struggles at its former finance wing GMAC, a strike at American Axle and slumping U.S. car sales.
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FORECLOSURES DOUBLE, AND HOME PRICES TUMBLE
The most severe real estate recession in decades appears far from over, with the pace of foreclosures rising, the fall in home prices accelerating and the pain spreading to nearly every major U.S. city, according to two reports issued Tuesday.
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HOW THE STATE CAN STABILISE HOUSING MARKET
Over the past year, federal and state governments, consumer groups, industry and others have worked to contain the growing tide of foreclosures. While some success has been achieved, foreclosures continue to mount and delinquency rates for subprime and even some prime mortgages have risen dramatically.
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WELLS FARGO FINANCIAL NATIONAL BANK INTRODUCES HEALTHCARE CONSUMER FINANCING PROGRAM
DES MOINES, Iowa - Wells Fargo Financial National Bank -- part of the consumer finance subsidiary of Wells Fargo & Company (NYSE: WFC) -- has launched a revolving credit card program to give consumers flexible payment options for select healthcare and veterinary services. The Wells Fargo Health Advantage(SM) card is available for dental treatment, veterinary care and corrective vision procedures.
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PAULSON APPROVES STIMULUS DISTRIBUTION PLAN, PAYMENTS FOR AMERICAN SAMOA, GUAM, U.S. VIRGIN ISLANDS, COMMONWEALTH OF THE NORTHERN MARIANA ISLANDS
Washington, DC--Treasury Secretary Henry M. Paulson, Jr. today approved the stimulus distribution plan and payment amount for American Samoa, and payments amounts to Guam, the U.S. Virgin Islands, and the Commonwealth of the Northern Mariana Islands.
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MASTERCARD PROFIT MORE THAN DOUBLES AS CARD USE ABROAD RISES
MasterCard's profit more than doubled in the first quarter, the card processor said Tuesday, as more customers outside the United States used their credit and debit cards for purchases.
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FAIR ISAAC'S TRIAD SYSTEM 8.3 DELIVERS ENHANCED FLEXIBILITY AND PROCESSING FOR MORE EFFECTIVE PORTFOLIO MANAGEMENT
Minneapolis, Minnesota, USA - Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, today announced the release and immediate availability of TRIAD® adaptive control system version 8.3.
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FTC TESTIFIES ON EFFORTS TO PROTECT CONSUMERS IN SUBPRIME MORTGAGE MARKET
The Federal Trade Commission testified before the U.S. Senate Committee on Commerce, Science, and Transportation's Subcommittee on Interstate Commerce, Trade, and Tourism, about the Commission's continuing efforts to protect subprime mortgage borrowers.
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FTC CHARGES MORTGAGE FORECLOSURE "RESCUERS"
The Federal Trade Commission has charged Foreclosure Solutions, LLC and Timothy A. Buckley with operating a nationwide mortgage foreclosure "rescue" scam that charged consumers as much as $1,200 to save their homes from foreclosure but failed to do so. The FTC seeks to bar them from further law violations and make them forfeit their ill-gotten gains.
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$900M LOSS AND MORE BAD LOANS - COUNTRYWIDE
NEW YORK - Countrywide Financial Corp. once again found itself mired in red ink, reporting a loss Tuesday of nearly $900 million as higher housing-related credit losses engulfed the mortgage lender's results.
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FORECLOSURES SPIKE 112% - NO END IN SIGHT
NEW YORK - Foreclosure filings in the first three months of 2008 rose more than 112% over last year, according to a study released Tuesday.
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VISA INC. REPORTS FISCAL SECOND QUARTER 2008 EARNINGS RESULTS
SAN FRANCISCO - Visa Inc. (NYSE: V) today announced financial results for our fiscal second quarter ended March 31, 2008. GAAP net income for the quarter was $314 million, or $0.39 per diluted class A common share. GAAP diluted class A common shares outstanding were 778 million.
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PORTFOLIO RECOVERY ASSOCIATES REPORTS FIRST QUARTER 2008 RESULTS
NORFOLK, VA, - Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a company that purchases, collects and manages portfolios of defaulted consumer receivables and provides a broad range of accounts receivable management services, today reported net income of $11.9 million, or $0.78 per diluted share, for the quarter ended March 31, 2008.
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FIRST DATA ANNOUNCES PLANS TO ACQUIRE INCOMM
DENVER & ATLANTA - First Data Corp., a global leader in electronic commerce and payment processing services, today announced that it has reached an agreement to acquire InComm, an industry leading marketer, distributor and technology innovator of stored value gift and prepaid products.
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TNB CARD SERVICES PURCHASES CARD PORTFOLIOS IN TWO STATES
Dallas - TNB Card Services has purchased the credit card portfolios of Adirondack Regional Federal Credit Union of Tupper Lake, New York, and Trivantage Community Federal Credit Union, based in Huntington, West Virginia, adding more than $1 million in card balances to TNB's portfolio.
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VACANT HOMES HIT NEW RECORD HIGH IN FIRST QUARTER
WASHINGTON - The percentage of vacant homes up for sale in the U.S. hit a new record high in the first quarter of this year, the government said Monday.
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FIRST FINANCIAL NETWORK, INC. TO SELL LOAN PORTFOLIO
OKLAHOMA CITY, OK - First Financial Network, Inc., (FFN), the nation's leading loan sale advisor, is pleased to announce that it will market and manage the sale of approximately $6 million in loans from Hume Bank, for which the FDIC is acting as receiver.
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BANK OF AMERICA DETAILS COMMUNITY DEVELOPMENT, FORECLOSURE RELIEF GOALS
CHARLOTTE, N.C. - Bank of America today announced key initiatives to reduce the impact and number of foreclosures on communities as well as new goals in corporate philanthropy and community development and investment.
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U.S. LOAN INDUSTRY FIGHTS BACK AGAINST PROPOSED MORTGAGE RULES
WASHINGTON: The mortgage industry, facing the prospect of tougher regulations for its central role in the housing crisis, has begun an intensive campaign to fight back.
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CREDIT CARD RATES HUSTLE HIGHER
Even as the Federal Reserve has cut interest rates, financial institutions have sharply raised rates for credit card customers - even those who pay on time - as they grapple with losses from other bad consumer loans.
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FOR GM, APRIL IS THE CRUELEST MONTH
NEW YORK (Fortune) -- Until a couple of months ago, hardly anyone outside the mortgage business paid attention to ResCap, the residential mortgage unit of auto finance giant GMAC.
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HENRY J. OSTOJA JOINS SECURITY CREDIT SERVICES
Ostoja's industry experience and attention to implementation provide Security Credit Services ample resources.
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| DebtConnection.com is a searchable database of collection products and services.
The following Updates and New Entries occured since the last At A Glance was sent: | | | Portfolios For Sale | $681,906.00 Credit Cards
L & L FINANCIAL SERVICES
http://www.debtconnection.com/portfolio.asp?532
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2728
$5,082,711.00 Credit Cards
Pacific Healthcare Services, Inc.
http://www.debtconnection.com/portfolio.asp?531
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3122
$12,249,416.00 Credit Cards
L & L FINANCIAL SERVICES
http://www.debtconnection.com/portfolio.asp?530
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2728
$19,744,659.00 Auto Deficiencies
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?529
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$79,000,000.00 Medical
Oxford Management Services
http://www.debtconnection.com/portfolio.asp?527
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3241
$2,608,684.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?525
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$13,445,668.00 Credit Cards
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?524
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$2,119,554.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?523
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$2,093,504.00 Consumer Loans
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?522
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$1,600,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?518
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$25,000,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?512
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$14,340,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?513
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$12,147,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?514
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$8,100,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?515
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$2,026,471.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?517
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$1,583,940.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?519
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$6,193,475.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?516
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$8,467,169.00 Credit Cards
L & L FINANCIAL SERVICES
http://www.debtconnection.com/portfolio.asp?511
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2728
$6,100,000.00 Credit Cards
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?510
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
$11,400,000.00 Consumer Loans
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?509
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
$1,808,974.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?508
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$1,468,356.00 Credit Cards, Telecommunications
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?507
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
$750,485.00 Credit Cards
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?491
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
| | Agency | NETQUEST RECOVERY SERVICES, INC.
Randy Wade
877-300-9297
More Information
CREDIT BUREAU OF NORTH AMERICA (CBNA)
Bart Howard
615-446-7128
More Information
COLLECTION ADVISEMENT & ASSOCIATES, INC.
787-622-0075
| | Debt Buyers | RECOVERIES MANAGEMENT PTE. LTD.
+65 96188383
| | Debt Sellers | MATTIA & ASSOCIATES
GEORGE MATTIA
619-312-0539
More Information
| | Deceased | DCM SERVICES LLC
763-852-8620
| | Legal Networks/Services | WNY JUDGMENT RECOVERY, INC
716-478-7971
|
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Industry Events
|
2008 Chicago/Spring Meeting
Commercial Law League of America (CLLA)
Westin Michigan Avenue Hotel
Chicago, Illinois
May 1 - 4, 2008
(312) 781-2000
More Information
A Debtor World: Interdisciplinary Academic Symposium on Debt from the University of Illinois and the American Bankruptcy Institute
American Bankruptcy Institute
University of Illinois College of Law
Chicago, Illinois
May 2 - 3, 2008
More Information
Collection and Recovery Solutions 2008
Resource Management Services, Inc.
Four Seasons Hotel Las Vegas
Las Vegas, Nevada
May 7 - 9, 2008
(562) 906-1101
More Information
Auto Finance Risk Summit 2008
Royal Media Group
Loews Coronado Bay Resort
San Diego, CA
May 14 - 16, 2008
(212) 564-8972
More Information
NARCA 2008 Spring Collection Conference
NARCA
Sheraton Seattle Hotel
Seattle, Washington
May 15 - 17, 2008
(800) 633-6069
More Information
Payments 2008 - Through Leadership / Innovative Solutions
NACHA - The Electronic Payments Association
MGM Grand Hotel
Las Vegas, NV
May 18 - 21, 2008
(800) 487-9180
More Information
Recovery Management Strategies and Techniques
Resource Management Services, Inc.
The Westin
Los Angeles, CA
May 20 - 21, 2008
(562) 906-1101
More Information
Best Practices in Collections Workshop
Austin Logistics and SoundBite Communications
Hyatt Regency Phoenix
Phoenix, Arizona
May 22, 2008
(781) 897-2617
More Information
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| At A Glance - Wednesday, May 14, 2008 |
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| At A Glance - Friday, May 02, 2008 |
| At A Glance - Wednesday, April 30, 2008 |
| At A Glance - Friday, April 25, 2008 |
| At A Glance - Wednesday, April 23, 2008 |
| At A Glance - Friday, April 18, 2008 |
| At A Glance - Wednesday, April 16, 2008 |
| At A Glance - Friday, April 11, 2008 |
| At A Glance - Wednesday, April 09, 2008 |
| At A Glance - Friday, April 04, 2008 |
| At A Glance - Wednesday, April 02, 2008 |
| At A Glance - Friday, March 28, 2008 |
| At A Glance - Wednesday, March 26, 2008 |
| At A Glance - Friday, March 21, 2008 |
| At A Glance - Wednesday, March 19, 2008 |
| At A Glance - Friday, March 14, 2008 |
| At A Glance - Wednesday, March 12, 2008 |
| At A Glance - Friday, March 07, 2008 |
| At A Glance - Wednesday, March 05, 2008 |
| At A Glance - Friday, February 29, 2008 |
| At A Glance - Wednesday, February 27, 2008 |
| At A Glance - Friday, February 22, 2008 |
| At A Glance - Wednesday, February 20, 2008 |
| At A Glance - Friday, February 15, 2008 |
| At A Glance - Wednesday, February 13, 2008 |
| At A Glance - Friday, February 08, 2008 |
| At A Glance - Wednesday, February 06, 2008 |
| At A Glance - Wednesday, January 30, 2008 |
| At A Glance - Friday, January 25, 2008 |
| At A Glance - Tuesday, January 22, 2008 |
| At A Glance - Friday, January 18, 2008 |
| At A Glance - Wednesday, January 16, 2008 |
| At A Glance - Friday, January 11, 2008 |
| At A Glance - Wednesday, January 09, 2008 |
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