DebtConnection.com 11/11/2011

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Thursday, November 11, 2011

This Week Articles:

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REVSOURCE SOLUTIONS™ PARTNERS WITH HIGH COTTON TO PROVIDE REVEXPRESS™ TO INCREASE AND ACCELERATE ONLINE PAYMENTS FOR CUSTOMERS
RevSource Solutions, a leader in online personalized payment solutions for the collection industry and healthcare, recently announced a partnership with High Cotton, a leader in letter and statement services, to empower customers with RevExpress to increase and accelerate online payments for early out self-pay and collections. RevExpress' personalized websites automate online payments and increase staff efficiencies while providing custom branded websites for clients.
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MICROBILT CORPORATION ANNOUNCES ARNOLD FEINBERG AS NEW SENIOR VICE PRESIDENT OF BUSINESS DEVELOPMENT
MicroBilt Corporation, a leader in risk management information for small and medium-sized businesses and leading provider of alternative data for non-traditional lenders is pleased to announce the appointment of Arnold Feinberg as MicroBilt's new Senior Vice President of Business Development. Mr. Feinberg brings over 18 years' experience in strategic business development and is considered the subject matter expert on ACH and Check processing.
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IRS MISSED DEBT COLLECTION OPPORTUNITIES AFTER PRIVATE COLLECTOR PROGRAM: REPORT
The Internal Revenue Service did not take action on 47 percent of a sample of unpaid tax cases returned to it from a Private Debt Collection (PDC) pilot program cancelled in 2009, according to a report made public Wednesday by the Treasury Inspector General for Tax Administration (TIGTA).
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H.I.G. CAPITAL PORTFOLIO COMPANY NARS ACQUIRES ACCOUNTS RECEIVABLE MANAGEMENT FIRM
H.I.G. Capital portfolio company, NARS (National Asset Recovery Services, Inc.), has acquired Integrity (Integrity Financial Partners). Integrity is a leader in third-party debt collection services and has a diverse, blue chip client base.
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UNICREDIT HEAD ALLOWED TO CITE 5TH
The invocation of the Fifth Amendment by the president of a former debt-collection agency will not prevent him from pursuing personal bankruptcy protection.
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CONSUMER ADVOCATES RING ALARM OVER ROBOCALLS TO CELLPHONES
Consumer advocates, including the Illinois and Indiana attorneys general, are sounding the alarm over proposed federal legislation that would allow companies to place robotic calls - using automated dialers to call and play recorded messages - to consumers' wireless mobile phones.
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WELLS FARGO LAUNCHES NEW SITE TO GUIDE PEOPLE TOWARD SUSTAINABLE HOME OWNERSHIP
Wells Fargo, the nation's largest mortgage lender, launches a brand new Home Lending site that helps people make sensible home financing decisions before buying a home, refinancing or accessing home equity to help them achieve sustainable home ownership. By focusing on the consumers' goals and needs, and providing information and choices that help them make informed decisions, Wells Fargo is helping to ensure more families reach their personal goals through homeownership.
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DEBT COLLECTOR NELSON, HIRSCH & ASSOCIATES ENTERS INTO $4.3 MILLION SETTLEMENT WITH THE GOVERNOR'S OFFICE OF CONSUMER PROTECTION
ATLANTA, GA - Nelson, Hirsch & Associates, Inc., a Georgia debt collections company, and its owner, Tanya Santiago, have entered into an Assurance of Voluntary Compliance with the Governor's Office of Consumer Protection (OCP), resolving charges that the company committed multiple violations of the federal Fair Debt Collection Practices Act and the Georgia Fair Business Practices Act. OCP's investigation stemmed from a series of reports from consumers that Nelson, Hirsch & Associates harassed and deceived them by:
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FORECLOSURE BACKLOGS COULD TAKE DECADES TO CLEAR OUT
Foreclosure sales are moving so slowly in half the states that at the current pace, it will take more than eight years on average to clear the 2.1 million homes in foreclosure or with seriously delinquent mortgages, new research shows.
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U.S. BANCORP INCREASES COMMITMENT TO VETERANS, SOLDIERS, MILITARY FAMILIES
Already recognized as one of the top corporate supporters of the military, U.S. Bancorp today announced it will double its military hiring in 2012. The company also unveiled a generous leave policy for employees with family serving in the military.
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FANNIE MAE NEEDS BIGGER LIFELINE
NEW YORK (CNNMoney) -- Losses widened at mortgage giant Fannie Mae in the third quarter, forcing the government-controlled firm to request another $7.8 billion from the Treasury Department.
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PRA WINS "ROARING 20" AWARD FOR BUSINESS EXCELLENCE AND COMMUNITY INVOLVEMENT
Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a specialized financial services company and market leader in the consumer debt purchase and collection industry, has been recognized by Inside Business as a recipient of its "Roaring 20" award for the second consecutive year.
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ARM INDUSTRY $3,000 SHORT FOR VETS, 2 DAYS LEFT IN DRIVE
Collingswood, NJ: ARMing Heroes (www.armingheroes.org), the accounts receivable management industry's non-profit dedicated to serving U.S. military veterans (hence "ARM" in "ARMing"), is $3,000 short of its stated goal of raising $25,000 from the industry for the organization's Second Annual No Debts for Vets Charity Fundraising Drive ("the drive").
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CREDITWATCH ANNOUNCES NEWEST CLIENT
Fort Worth, TX - CreditWatch Services is excited to announce the newest client to our family, Louisiana Delta Community College. Louisiana Delta Community College, based in Monroe, LA., has consistently ranked among the best in the nation in student satisfaction. Delta Community College offers two year degrees and specialized programs for certification, along with courses for personal or professional growth. Louisiana Delta Community College has been experiencing significant growth since 2010, and they have been undertaking an expansion of its facilities. They have also consolidated with Louisiana Technical College at Tallulah, and with Louisiana Technical College at Lake Providence.
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TRANSUNION: NATIONAL MORTGAGE LOAN DELINQUENCIES INCREASE FOR FIRST TIME SINCE 2009
CHICAGO, IL--(Marketwire - Nov 8, 2011) - The national mortgage delinquency rate (the rate of borrowers 60 or more days past due) increased for the first time since the end of 2009, edging upward to 5.88% at the end of the third quarter in 2011. This information is reported by TransUnion and is part of its ongoing series of quarterly analyses of credit-active U.S. consumers and how they are managing credit related to mortgages, credit cards and auto loans.
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NEXIDIA ENSURES COLLECTIONS AGENCIES COMPLY WITH NEW CONSUMER PROTECTION REGULATIONS
ATLANTA, Nov 08, 2011 (BUSINESS WIRE) -- Nexidia, a leading provider of customer interaction analytics solutions for business transformation, today announced an upcoming webinar demonstrating how debt collectors can analyze all of their recorded phone interactions in order to meet the rigorous requirements of the new Dodd-Frank Wall Street Reform and Consumer Protection Act.
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UNIFUND ANNOUNCES THE FORMATION OF A SPECIAL SITUATION FUND TO HELP ITS GOVERNMENT PARTNERS.
Cincinnati, OH - In response to the hardship faced by numerous Cities, Counties and States facing bankruptcy or emergency fiscal or austerity measures, Unifund announces the formation of a special situation fund to help its government partners, in addition to the dynamic options to increase collection efforts already in place. Governmental entities may contact Unifund about a valuation of their uncollectable debt portfolios. Through its special situation fund, Unifund will contract with the entity to collect its debt and provide an immediate advance against the collectability to help prevent the curtailment of critical local services.
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FDIC, DISTRESSED DEBT INVESTOR LOSE SECOND NEVADA LAWSUIT
The Federal Deposit Insurance Corp. and its partner in suing borrowers in defaulted loans of failed banks have lost a second Nevada lawsuit.
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PROTECTING MILITARY MEMBERS FROM PREDATORY LENDING
At the Consumer Financial Protection Bureau's Office of Servicemember Affairs, our job is: to educate and empower servicemembers to make better-informed decisions regarding consumer financial products and services; to monitor their complaints about consumer financial products and services - and responses to those complaints; and to coordinate the efforts of Federal and state agencies to improve consumer protection measures for military families.
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CONSUMER FINANCIAL PROTECTION BUREAU PLANS TO PROVIDE EARLY WARNING OF POSSIBLE ENFORCEMENT ACTIONS
The Consumer Financial Protection Bureau (CFPB) today outlined plans to provide advance notice of potential enforcement actions to individuals and firms under investigation. The Early Warning Notice process allows the subject of an investigation to respond to any potential legal violations that CFPB enforcement staff believe have been committed before the Bureau ultimately decides whether to begin legal action.
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COMMERCIAL REAL ESTATE EXPOSURE PUSHES 11 MORE BANKS TO INSOLVENCY
While the roots of the financial crisis can be found in the nation's residential housing sector, it's now exposure to bad commercial real estate loans that's battering banks' balance sheets.
read more

COST OF FANNIE & FREDDIE BAILOUTS TRIMMED
The cost to taxpayers for bailing out mortgage finance giants Fannie Mae and Freddie Mac won't be quite as bad as previous estimates, according to the federal agency overseeing the two companies. The Federal Housing Finance Agency now estimates that the net cost of the bailouts through 2014 will be about $124 billion, down about 19% from an estimate of $154 billion a year ago.
read more

PAST-DUE MORTGAGES UP FOR FIRST TIME SINCE 2009: REPORT
The national mortgage delinquency rate edged up during the third quarter of 2011, marking the first increase in nearly two years, according to TransUnion. The Chicago-based credit bureau calculates the mortgage delinquency rate as the percentage of borrowers 60 or more days behind on their payments, excluding those that are already in foreclosure. The rate increased to 5.88 percent as of the end of the third quarter.
read more

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

$2,410,662.00     Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?1798
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826

$318,306.00     Payday Loans
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?1797
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4820

$156,925.00     Payday Loans
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?1796
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4820

$950,000.00     Payday Loans
Bay Capital Management Group
http://www.debtconnection.com/portfolio.asp?1795
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4866

$743,819.00     Payday Loans
Bay Capital Management Group
http://www.debtconnection.com/portfolio.asp?1794
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4866

$677,661.00     Credit Cards
Bay Capital Management Group
http://www.debtconnection.com/portfolio.asp?1793
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4866

$247,299.00     Payday Loans
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?1764
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4820

$21,442,947.00     Credit Cards
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?1713
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999

$6,443,972.00     Credit Cards
CKS Financial LLC
http://www.debtconnection.com/portfolio.asp?1712
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4985

$5,371,686.00     Credit Cards
CKS Financial LLC
http://www.debtconnection.com/portfolio.asp?1711
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4985

$9,632,038.00     Credit Cards
CKS Financial LLC
http://www.debtconnection.com/portfolio.asp?1709
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4985

Agency

BOSTON ENFORCEMENT
617-958-1101

Brokers

PIPELINE DEBT ACQUISITIONS LLC
813-545-7529

Debt Buyers

CASCADE RECEIVABLES MANAGEMENT, LLC
Lee Brockett
888-417-1531
More Information

ZENITH ACQUISITION CORP
716-799-0511

NFPC/PSA
253-661-2202

Debt Sellers

PIPELINE DEBT ACQUISITIONS LLC
Joe Szarko
813-545-7529
More Information

PINE RECOVERY INC.
Frank F Tripi
716-550-0371
More Information

PARK FINANCE LLC
802-349-2533

NFPC/PSA
253-661-2202

USA DEBT SALES
510-488-6373

Industry Events

91st Annual New York Meeting
Commercial Law League of America (CLLA)
NY Sheraton Hotel & Towers
New York, NY
November 10 - 13, 2011
More Information

Fall Forum
ACA International
Westin Michigan Avenue
Chicago, IL
November 9 - 11, 2011
More Information

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