 |
 |
 |
 |
 |
 |
 |
 |
|
|
|
Credit Analyst: Seeking an energetic and organized Credit Analyst. At least one to two years of experience as a Credit Analyst in financial services (banking, insurance, leasing, or mortgage) is required. Funding Manager: Seeking a very organized, detail oriented Funding Manager. Minimum two years experience in brokering and discounting commercial equipment transactions is required. Operations Manager: Seeking an experienced Operations Manager with knowledge of all sides of operations. Must have a minimum of five years related experience. Send
email or fax to Ryan Johnson, Corporate Recruiter. |
Friday,
July 23, 2004
Headlines---
Classified
Ads---Outsourcing---Collector
Funding
Tree Kendra Bernal in Utah
NorVergence
Telecom Legal Co-Op Continues to Grow
Customers
Tells Us They Will Be Stopping Payment
Balboa
Capital Hires Four Leasing Sales Veterans
Marlin
Leasing Completes $304.6 Million Term Debt Securitization
Pacific
Capital Reports Increase in 2nd Q Earnings Per Share
Greater
Community Bancorp 2nd Q EPS of $0.24, up 20%
Synovus
Reports 9.1% Increase in Net Income for 2nd Q
Hitachi
Capital American Promotes Besgen to Prez & COO
"Fastest
Growing Leasing Company" Adds Another To It’s Team
Peek
to be Prez & COO at CIT Group
######## surrounding the article denotes it is a “press
release”
|
Your
One stop solution for training and reference material for the
Leasing Professional
www.theleasinglibrary.com |
-------------------------------------------------------------------------------
Classified
Ads---Outsourcing---Collector
Los Angeles, Ca.
Expert skip tracers covering Southern California. We locate skips, judgment debtors and collateral. When you can't get the job done in house, give us a call at 1-800-778- 0794.
E-mail: ceo@interagencyLA.com
Near Boston, MA
My name is John Kenny. I have 14 years experience in leasing collections. I currently offer outsourced services to clients nationwide on a contractual, contingency basis.
E-mail: ReceivablesMgmt@prodigy.net
Louisville, KY.
We are a full service
collection agency with attorney network. 21 years experience. Please
call Jon Floyd, VP at 1-800-264-6850
email: jfloyd@collectcsg.com
Saint Louis, Mo.
Complete commercial
collection agency. Licensed bonded in all states and will out performed
any other agency! Call 1-800-659- 7199 ext.315
E-mail: jfloyd@lindquistandtrudeau.com
Tampa, FL.
IRTC Contingencies: Commercial Collections- Skip Trace- Repossessions-judgment served- Investigations- Asset Re-marketing& No Cost Warehousing East Coast USA. Call 813-467- 4324 ask for Robert or
E-mail to Robertmbs@covad.net
all outsourcing ads available at:
http://64.125.68.90/LeasingNews/JobPostingsOutsourcing.htm
---these ads are
free—25 word maximum requirement only.
http://64.125.68.90/LeasingNews/PostingFormOutsourcing.asp
----------------------------------------------------------------------
Funding
Tree Kendra Bernal in Utah
Kendra Bernal is
“alive and well,” evidently working for an
attorney in Utah,
who specializes in finding missing heirs for
a finder’s fee of
50%.
Sent to Leasing News October, 2001:
“The Funding Tree,
Inc., Riverside, CA has been accepting sub-prime deals on trucks and
other equipment. They collect 15% prepaid residuals and doc fees up
front. They cannot fund and getting refunds is next to impossible. I
know of deals that are 3 plus months old. They also claim on their letterheads
to be members of the NAELB (National Association of Equipment Leasing
Brokers). They are not according to Maria at the NAELB .”
Some deals are as old as 7/01
Gary W. Psaledas
Western Equipment
Financing, Inc.
83 Abajo Dr., Edgewood,
NM 87015
505-286-5437, Fax
505-286-543
Thirty-three years,
Member NAELB
Funding Tree Response:
“We have 3 deals
that are 120 days aged. 1 is
a managed credit program, which means, this is normal.
The vendor receives the payments and once the lessee makes 4
or more consecutive, on time payments the vendor is paid. The other
two transactions are trucking transactions.”
Kendra Bernal
The Funding Tree,
Inc.
6141 Riverside Ave.,
Suite 1
Riverside, CA 92506
Office Phone
Looking into this
further, Leasing News reportedly found over thirty transactions not
funded:
Dealers Not Funded
Midwest Truck Sales,
Inc. John Saied 888-446-1127
R.E.B. Express Ellie Corbello 888-968-3563 X 113
Volvo of Utah Rebecca Hall 888-478-2276
Rush Finance Brent Hughes 800-973-7874
Coastal Finance(broker)
Jim Coxe 800-887-0843
Volvo of Albuquerque Venita Coffee 505-843-7703
Inland KW-Phoenix Jerald Collens 800-258-7791
TEC Equipment Georgia Field 800-497-7667
Idaho FL Frank Flemming 800-658-5084
Danforth Capital
(broker) Dan Chagnon 800-910-2225
Whited Trucks Mark Walsh
800-786-4736
IMCO Trailers Paul Yberra
888-496-4626
Prudential Leasing
(broker) William Ross 972-392-3008
AMEX Equipment Dick
Steensland 623-872-3468
Premier Truck Center Chris Mehaffie 800-671-6882
Atlas Trucks Gordon Chou 877-860-6757
S.E. Truck Sales Peter O'Donnell 877-295-3748
M&K Quality Truck
Sales, Inc. Ron Meyering 800-510-8727
I-10 International
Trucks Gayle Austin 877-954-9241 returned
half of $26,000 up front money
Tulsa Freightliner Dan Clark
800-725-5312
According to the
Department of Corporation, there are another two dozen deals from dealers
on one street that were not funded, money not returned, and they have
an on going investigation and
hearing to be held on the allegations.
At this time, Gary
Psaledas of Western Equipment Financing goes on line via listserve of
the National Association of Equipment Leasing Brokers to warn other
members about the Funding Tree and the experience he is having. Other brokers have similar problems with the Funding Tree.
He then contacts
the California Department of Corporations.
“I received a phone
call from John Noonan, CA Dept. of Corps., Investigations division,
916-322-6067. He asked a lot of questions regarding the Tree. He also told me that Bernal had 9 Felony counts in 97 of which she pled
to two. I will be talking with him again today. This may be a good source
for you to send the ex-employees and the other brokers.”
Leasing News confirms
this information with the Department of Corporations and the District
Attorney, who confirmed what we were told. One of the requirements was
“ Mrs. Bernal not to handle money of others.” The Funding Tree nor Kendra
Bernal is not a licensed in the State of California, although she originally
told Leasing News the company was licensed.
Ex-employees, including
the ex-sales manager tell us about
high lease factors, advance rentals and 15% deposit collected on many hard credit “owner-operator” leases, but commissions
not paid, and they suspect the leases were not funded. They state the Funding Tree was also collecting
monthly rentals from lessees, although the vendors had not been paid.
Reportedly “commission only” sales people come and go.
Kendra Bernal states
this is a misunderstanding and she will have a statement soon.
In the meantime,
the Funding Tree and Integrity Group merges.
She tells us they have money and will be funding leases, as part
of the agreement to merge, plus they are seeking new “investor money.” Please wait, she asks, as this will all be
straightened out.
--
And was she good
at spinning a story. Even her
attorney is out
$15,000, as she never
paid him for representing her. Accordingly
he asked to be dismissed
from the case, but the judge said, “no.”
Her court records
show that she is out on $184,000 bail.
Her attorney of record
is owed $15,000 for legal fees, he
says, but he can’t
collect because he says she’s skipped.
Leasing News did
give him her new telephone number.
“I called
Kendra, and that is indeed her. I am probably ethically precluded
from divulging the substance of our discussion, as she was once a client,
much to my chagrin. However, I thought you would want to know that your
source has in fact found the real Kendra Bernal.”
Click here to see Kendra Bernal criminal record
Leasing
News reported readers having trouble with the Funding Tree and worked
with the late Rene Tankersley of Landline Magazine, the official publication
of the “Owner-Operator Independent Drivers Association” with an audited
216,000 subscription list.
Here
is the June 17,2002 story written by the late
Rene Tankersley of Landline Magazine:
Finance
company operator arrested
The
president of an advance-fee finance company has been arrested on seven
felony counts. Kendra Bernal, of The Funding Tree (not to be confused
with The Lending Tree) and Integrity Group, was arrested May 31 in
Riverside County, CA. Under the two company names, Bernal offered
financing of commercial vehicles and other equipment.
Bernal
faces six felony counts of taking money and personal property of a
value exceeding $400 and one count of engaging in the business of
a finance lender and broker without obtaining a license from the Department
of Corporations.
The
complaint alleges Bernal operated without a license from September
2001 through May 30, 2002, and "took, damaged and destroyed property
of a value exceeding $150,000." The complaint listed money and
property taken from Freedom International, Luis Ojeda, Joe Diaz, Fernando
Hernandez, Diversified Sales and Service Corp., and Jose Martinez.
Finally,
the complaint noted a violation of probation had been filed based
on these allegations. Bernal was serving a 60-month probation, which
prohibited her from receiving or accepting any type of money on behalf
of her employer, and from purchasing, selling, registering, transferring,
leasing or renting a vehicle without prior permission of the probation
officer.
The
latest charges came five months after the California Department of
Corporations issued a desist and refrain order in January. The order
warned Bernal and her companies to stop engaging in business as finance
lenders or brokers without a license in violation of the California
Finance Lenders Law. The same month, Land Line became aware of Bernal,
after two OOIDA members read Land Line's report about advance fee
finance companies and called in their complaints about Bernal.
OOIDA
member Donny McCain paid The Funding Tree a $2,000 deposit Sept. 9,
2001, at the Great American Trucking Show in Dallas, for trailer financing.
McCain never received the promised financing, but REB Express, the
company where he was leased, put up the remaining $9,707 for the trailer.
OOIDA
member Robert Kovalcin paid Integrity Group $8,795 in December 2001
for a down payment and fees for truck financing that never came through.
After months of telephone calls and complaints, Kovalcin finally received
$8,400 of his money back last month.
--
She
called it “Easy Money” in many of her headlines, including this one
when the company moved to Nevada:
Easy
money? Funding Tree apparently takes root in Nevada
"The
report of my death has been greatly exaggerated." Mark Twain
said it in 1896, but it could be said today about The Funding Tree,
a finance and leasing company.
Although
the company's former president, Kendra Bernal, was arrested last year
in California, the company appears to have resurfaced in Nevada under
the name Legacy Leasing.
OOIDA
member Larry Hargrove of Las Vegas, NV, says he paid $4,000 in advance
payments and document fees to Legacy Leasing in November. As of today,
Hargrove says he still has no truck and no sign of his $4,000.
Another
trucker, Kenneth Farrington III, says he gave Legacy Leasing $3,200
on Dec. 18, 2002, with promises of a truck by the New Year. Farrington
and his dealer, Bob Gordon, even showed up at Legacy's office in Laughlin,
NV, in early February to get their money. They said they were told
that they could be helped only by a man named Jack Thompson, and that
he was out of the office.
Land
Line first became aware of The Funding Tree in January 2002 after
two OOIDA members read Land Line's report in December 2001 about advance-fee
finance companies.
The
two called in complaints about The Funding Tree, Integrity Group and
Integrity Funding, which Land Line later learned were all names used
by Bernal's business.
Kit
Menkin, editor and publisher of Leasing News, an electronic daily
newspaper for the equipment leasing industry, has written about The
Funding Tree for some time. He said the company was the subject of
a cease and refrain order issued by the California Department of Corporations
in January 2002.
The
order warned Bernal and her companies to stop engaging in the business
of finance lending or brokering without a license, saying doing so
would be a violation of the California Finance Lenders Law.
Bernal
was arrested May 31 in Riverside County, CA, and charged with six
felony counts related to the financing of commercial vehicles and
other equipment, according to the Riverside District Attorney's Office.
Following
Bernal's arrest, The Funding Tree's vice president, Bruce Peterik,
took over as president.
Peterik
is now listed as the contact for Legacy Leasing in the Laughlin Chamber
of Commerce Membership Directory.
However,
the Nevada Secretary of State's Office says its records show The Funding
Tree registered at the same address in Laughlin as Legacy Leasing,
with Peterik listed as the contact.
Farrington
and his wife, Patricia, say a person identifying himself as Jack Thompson
told them he was the owner of Legacy Leasing.
In
addition, a message at the Funding Tree's former California phone
number directs callers to an office in Laughlin, NV, and a woman at
the Legacy Leasing office says the company was formerly called The
Funding Tree. Peterik was not available for comment. A receptionist
at the company said Jack Thompson was also unavailable.
Marcie
Whitehead, who identifies herself as a former employee of Legacy Leasing,
said the name Jack Thompson was an alias used by Peterik.
Neil
Rombardo, deputy attorney general for Nevada, told Land Line the AG's
office would investigate the company. The Attorney General's Fraud
Unit Hotline can be reached at 1-800-266-8688.
--by
Rene Tankersley, feature editor
July,
2002 the Funding Tree made the Leasing News Complaint Bulletin Board:
http://www.leasingnews.org/Complaints-Bulletin_Board/Year2002.htm#funding
--
Leasing
News followed the story from the beginning and will continue in Rene’s
tradition:
http://www.leasingnews.org/Conscious-Top%20Stories/fundingTree_stories.htm
NorVergence
Telecom Legal Co-Op Continues to Grow
The fee to join the
non-profit Telecom Legal Co-Op is twice the monthly lease payment with
a minimum of $995. Please note
it does not replace any staff or private attorney.
For legal purposes,
you must first join the Telecom Agent Association, who’s membership
is free.
“Subscription to
a complimentary TAA membership is open to all telecom agents, vendors
and end-users who wish to access objective "How To Choose &
Who To Use" decision making information about telecom network products
and other related business services.”
“The following is
information TAA can share publicly with all TAA members:
“1. Many finance
companies are starting to put many Norvergence customers under pressure
to get current on their lease payments or be forced to pay the entire
amount at once. TAA has had reasonably confirmed reports that one finance
company in particular has already filed suit against a Norvergence customer
in Florida.
“2. TAA is working
closely every day with the Norvergence Customer Legal Co-op and has
provided all documents in it's possession to the co-op to assist in
determining if the Norvergence rental agreements are enforceable. If
you are in possession of documents you believe will help, please fax
them to 909-494-4257 if you have not already done so.
“3. TAA is attempting
to contact all Norvergence customers to let them know that TAA is creating
a storehouse of information that their attorneys can draw upon. If you
know of someone with a complete list of Norvergence customers that can
help TAA distribute this information, please contact Dan Baldwin at
db@telecomagent.org.
“4. Many thanks to
all who are helping to support TAA's efforts to help Norvergence customers.
In summary, following are the items that are currently needed:
“A. Copies of your Norvergence agreements IF YOU'VE NOT ALREADY
FAXED THEM IN.
“ B. Copies of any letters
you've recently received from the leasing companies.
“C. Notes on your letterhead of anything that transpired from
your first contact with Norvergence to your last contact with the leasing
company that you believe points out a specific example of an impropriety.
“ D. A complete list of
Norvergence customers so that TAA can make sure all Norvergence customers
know that TAA is creating a central storage point that all Norvergence
customer attorneys can draw upon.
“Fax information to 909-494-4257 or email it to db@telecomagent.org.”
|
|||||||
Subscription
to a complimentary TAA membership is open to all telecom agents, vendors
and end-users who wish to access objective "How To Choose &
Who To Use" decision making information about telecom network products
and other related business services.
------------------------------------------------------------------------------------------------
Customers
Tells Us They Will Be Stopping Payment
by
Christopher Menkin
We are asked on the
listserve communications for advice, particularly
regarding that they
do not want to make leasing payments:
“We’re not going to pay
it. Will see them in court. I'm sure the leasing companies new that it was a scam when the same
box leased to different companies
were all different lease amounts.”
Here is a posting
we recently made, our advice to NorVergence
users:
“I would strongly
advise that you continue to make leasing payments.
“Norvergence would
sign contracts and sell them off, just like many mortgage companies
do. That you bought something that does not work
has nothing to do with the leasing contract you signed---although there
is a class action suit to try and prove otherwise---but in the meantime,
to not affect your credit or prejudice your position, it is advisable
that you continue to make lease payments in a timely fashion.
“You signed the contract,
you should honor the obligation and not become similar to what you accuse
NorVergence of being.
“If you think the
contract is "wrong," then you can join a class action suit
or engage an attorney, but the best advice is not to affect your credit
and make the payments on time----If your two year old car stops working,
you don't stop making payments to the bank because it has little value,
so do the same here.
“The leasing companies
bought your credit and relied on you
that what you chose
had value. They did not choose
the
equipment, you did. You are responsible. Live up to it.
“Keep the payments
current as it has great value to you personally and to your business.”
Here is one response
we received:
“...And this is why
I think we need some legislation to regulate leasing. When we start talking about the kind of numbers we have here, 7000
to 10,000 customers..?....quarter of a billion dollars?.. If a lease
involves a service that is contingent on the performance of others,
or service to be rendered, it seems a little bit different than just
a lease for a tangible asset. Most customers understand that they need
a good Telecommunication system, but don't understand all the intricacies.
They partnered with a Company to provide a product, and on-going service.
In the case of a small business it is a struggle just to keep the store
open-- let alone being an expert on all of the peripheral services you
depend on! Explaining that the customer should have a
-"Done their telecommunications Homework"- before they sign
a lease for that service doesn't wash with me. You should be able to
trust someone...you would think. I would think that with the numbers
we had here, maybe the leasing companies should have done some homework. Why should the leasing business be bullet proof
and risk free?
Leasing companies
can afford to hire the talent to do feasibility and risk analysis studies,--The
bakery cannot. -- If my leased vehicle breaks down..you and I both know
chances are pretty good I'll get it fixed.
Could you say the same about these deals?... you have to draw
the line somewhere. The customers and employees are all taking a bath
on this one...I'd like to be the first to move over and welcome the
leasing companies to the bathtub!....
and our response back:
Leasing does have
such an instrument and it is called a "maintenance lease."
It is priced differently
than a "standard" lease and includes what you mention. It
is also not uncommon in automobile or computer or copier leases, where
they even put in mileage or "per copy" as part of the agreement.
These leases have
a different rate and structure, much higher than a "standard"
lease.
In all the many,
many leasing contracts I have seen the leasing companies go out of their
way to state they did not choose the equipment, have no responsibility
for warranty, service, or maintenance, as that is the responsibility
of the lessee.
The lease is priced
for this philosophy. Very similar
to an insurance policy, the higher the risk, the higher the premium
to cover the risks
( return on investment,
if you will.)
There are furniture
workstation leases that wind up costing more to take apart and move
than they are worth, or laptop computers after three years or personal
computers after three years cost more to dispose than the value of the
parts, and the list can go, as to collateral value.
However, I will agree
with you that the leasing companies who got involved with NorVergence
should have done their home work. For
over two years Leasing News readers were telling us the problems they
were having and to be weary, but not everyone heard, let alone
listened. The employees who also knew what was going
on, where are they now, but crying the blues because they did not get
paid. It wasn't their responsibility the company went under, they
claim.
But in the end, the
lessee took responsibility for choosing the equipment.
If a woman burns her thighs on the hot coffee she was holding
in her lap while driving, she blames the restaurant.
If your teen-age son kills himself, you blame the rock 'n' roll
musician he liked.
If your daughter gets pregnant by the football captain you blame
the school for poor sex education.
If your neighbor crashes into a tree while driving home drunk,
you blame the bartender.
If your grandchildren are brats without manners, you blame television.
If you smoke three packs a day for 40 years and die of lung cancer
your family blames the tobacco company.
If you blame your wife for not wanting romance, but you have done
nothing to promote it, and call her "cold."
"God bless America,
land of the free, home of the blame."
What's going on here?
No one is willing to step up to the plate? It's always someone else?
It's not me? It's the Leasing Company.
---
Now I
would like to say that Leasing News is the champion of the Leasing
Industry,
and I
sincerely hope that is true, but the NorVergence customers do not
think so:
Are you
serious Kit???
A bartender has a responsibility not to serve
drinks to the point of inebriation.
They can be prosecuted CRIMINALLY and serve jail time
if they do! McDonalds
lost over $5 million due to that
woman "burning her lap" with a cup of coffee. The tobacco companies are
getting creamed with settlements due to the dangers of tobacco and their relentless advertising of a DANGEROUS
substance.
Industry has a responsibility to provide a
safe, honest product to the
consumer. If a company provides
a product that is flawed, poorly
engineered or FRAUDULENT, they are the responsible party, NOT
THE CONSUMER. There is a ton of case history to back this up. The leasing companies knew EXACTLY what they
were getting themselves into.
Your own organization was very clear on its website that the
executives of NorV was very upfront about the fact that the
leasing companies were financing something that RELIED
on NorV's continued existence
for it to retain any value. Therefore,
they also realized that they
were going to lose ROYALLY in the event of a NorV
bankruptcy. The leasing
companies were nothing short of greedy, and
the funny thing is that when those same companies had the chance
to bail NorV out and save their investment, they
chose not to and forced NorV
into Chapter 11.
I hope that these companies get screwed and
that the executives at these
companies responsible for entering into these agreements both lose their jobs as well as lose all credibility in the financial
industry, limiting their ability to find good work in the future.
Let them end up with the same fate that YOU
have deemed appropriate for
many of these small businesses - financial hardship and possible bankruptcy. Lets have a few leasing companies go out of business, then maybe the industry will be a bit more
ethical in who they enter into
dealings with. Kit needs to
stand up and say that "MY INDUSTRY IS AS CRIMINAL AS THE SALZANOS." Until
he/she (kind of like Pat) does, he/she is nothing more than a hypocritical idiot.
I think that I am far from alone in this opinion.
Hopefully, members of the bench (legal that is) agree
with me.
Passing the blame???? Look
in the mirror!
Leasing News since its inception has been trying
to tell the truth, the whole truth, and nothing but the truth.
### Press Release
##############################
BALBOA
CAPITAL HIRES FOUR LEASING SALES VETERANS
(Irvine, CA) Balboa Capital Corporation announces the hiring
of Robert Fischer, Saul Sloman, Kerry Smith, and Mike Dish as Account
Executives in its Corporate Sales Division.
This group, hired over the last quarter, brings over 60 years
of leasing industry experience across different geographies and target
markets. They are expected to have an immediate impact
developing customers and vendors in their respective geographic markets.
Robert Fischer, based in Memphis, TN, possesses over fifteen years of industry experience. He was a multiple year President’s Club achiever with ILC. Saul Sloman brings twelve years of leasing experience, most recently with Enterprise Leasing, and is working out of Atlanta, GA. Kerry Smith, based in Boston, MA, adds 18 years of experience and a strong vendor background with companies such as AT&T Capital and Deutsche Financial. Mike Disch, Minneapolis, MN, has been hired by Balboa Capital as Director, National Accounts. With Balboa, Disch is beginning his 34th year in the leasing industry. For the past 5 years Disch was a partner in Barrish Industries, Inc. Prior to Barrish, Disch held national and international sales and sales management positions with a number of leasing companies including ITT, Dana Credit Corporation and Rockford Industries. Disch will be based in Minneapolis.
Corporate Sales Manager, John Miscovich, says, "We are
extremely excited to have these specialists on board. Their talent and
experience will add further depth and leadership to our sales force
and will continue to help us capitalize on Balboa’s greatest strategic
advantage, our collaborative culture.”
# # #
About Balboa Capital
Balboa Capital provides
equipment leasing and financing to small and mid-sized business in the
United States. The company markets
its products through its direct sales force, broker channel, and vendor
partnerships. The company offers
leases in the range of $ 5,000 to $ 5,000,000.
Balboa Capital is privately held and based in Irvine, CA.
Balboa Capital
Jonathan Albin
jonea@balboacapital.com
(949) 553-3498
####### Press
Release ######################################
-----------------------------------------------------------------------------------------------------
Classified
Ads—Help Wanted
Account
Executive / Small ticket leasing account reps
|
About
the Company: Bank
of Blue Valley is a locally owned community bank with $600 million
in assets. We are one of the leaders in the Kansas City financial
community. Our bank offers true community banking with services, |
.jpg)
|
|
Business
Development Office
|
Business Development Officer,leasing exp.,min 3 yrs business & direct sales exp. Banking procedure knowledge helpful. Gilroy, CA location, serving four surrounding counties. E-mail valdezd@1stnational.com or see Career Opportunities www.pcbancorp.com About the Company: Pacific Capital Bancorp is a $5+ billion, multi-bank holding company dedicated to providing an enduring network of community banks on the Central Coast of California. This unique partnership of independent banks provides customers in six California counties with the financial strength and product diversity of a big bank, delivered with the responsiveness and personalized attention of a local community bank. |
Credit-Funding-Operations
|
Credit Analyst: Seeking an energetic and organized Credit Analyst. At least one to two years of experience as a Credit Analyst in financial services (banking, insurance, leasing, or mortgage) is required. Funding Manager: Seeking a very organized, detail oriented Funding Manager. Minimum two years experience in brokering and discounting commercial equipment transactions is required. Operations Manager: Seeking an experienced Operations Manager with knowledge of all sides of operations. Must have a minimum of five years related experience. Send
email or fax to Ryan Johnson, Corporate Recruiter. |
Marketing
Indirect Origination
 MARKETING INDIRECT ORIGINATION: New York. One of the largest ind. equip.lessors needs motivated, self-starter to purchase single investor leases from institutional investors; min.transaction $1 million; portfolio of primarily investment grade lessees/good "story credits". Min 3 yrs exp. sourcing/ originating leasing transactions, knowledge of credit and pricing. E-mail: jobposting1@leasingnews.org |
Senior
Contract Specialist
|
|
Specialist
|
Port Leasing Sales Officer - Port of Long Beach:
conducts/oversees negotiations for leases, permits, property acquisition;
prepares lease proposals; negotiates prop. acquisition; neg. lease
agreements with new/existing tenants; develops financial info.
to analyze lease proposals. College degree expected. Contact:
Stuart Satow, CPS Executive Search 916-263-1401,
ssatow@cps.ca.gov
Recruitment brochure |
----------------------------------------------------------------------------------------------
Marlin
Leasing Completes $304.6 Million Term Debt Securitization
MOUNT LAUREL, N.J-Marlin
Leasing Corporation, a wholly owned subsidiary of Marlin Business Services
Corp. (NASDAQ:MRLN), announced today the completion of a $304.6 million
term asset backed securitization. This transaction was Marlin's sixth
term debt securitization and the first time the company issued notes
with the highest "Aaa/AAA" rating. As with all prior term
debt securitizations, this financing provides the company with fixed
cost borrowing and will be recorded "on-balance sheet." Proceeds
from the offering were used to repay borrowings under certain of the
company's warehouse credit facilities. Deutsche Bank Securities Inc.
acted as the structuring and lead placement agent, with J.P. Morgan
Securities Inc. acting as co-manager.
This was a private offering made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, by Marlin Leasing Receivables VIII LLC, a wholly owned subsidiary of Marlin Leasing Corporation. The senior/subordinated structure included six classes of notes rated by Moody's Investors Service, Inc. and Standard & Poor's Ratings Services with three classes of floating rate notes swapped to a fixed interest cost to Marlin. The initial blended interest cost to Marlin approximates 3.30%. The weighted average interest cost over the term of the financing to Marlin approxi