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Eliminate the Performance Review: Part 2

By Bill Cushard

Improve Performance: Eliminate the Performance Review

By Bill Cushard

ABS East--The Bear Crawl

I just attended the ABS East conference, in Miami Beach.  This is an annual conference for the securitization market.  All of the banks and issuers attend, as well as firms like mine.  Even though we're a small company, we send a lot of people to this conference, because every meeting we have while there is one that we would otherwise have to fly out to, separately, with all the costs and time it takes to travel across the country.  It's a great opportunity for everyone in our industry, large and small, to get in a lot of meetings, to save some money, and to also to come

Allonhill featured in Wall Street Journal business innovation contest

I started Allonhill  three years ago this week with a small team of industry veterans to fix the inherent problems that contributed to the collapse of the housing market. The federal government’s response to the credit crisis in the early days of our company shifted the business climate for us and for the rest of the mortgage industry. I’m proud of the way our team responded, and how we built the company to where we are today: a leader in the due diligence industry representing investor interests and helping bring about systemic change.

The MBA, Tennis, and Tom Cronin

I had to get to the airport today by early evening, or so I thought. I agreed to play tennis a couple of times, late morning and mid-day, anticipating leaving for the airport by 6. After tennis, I came home, and spent quite a lot of time in the garden. Then, I started to get ready to leave. I checked the itinerary and found that I did not, actually, have to get to the airport at 6. I had to be there in time to be on a flight that left at 6. All of a sudden, I needed to leave an hour earlier, and I was out of time. I threw some stuff in a bag and raced out the door.

Bank of America Settlement: Turning Point for RMBS Investors

Bank of America’s $8.5 billion settlement with 22 mortgage-bond investors this week marks an important turning point for our industry, erasing some of the uncertainty that continues to drag down the RMBS sector.

It is the largest settlement with investors of its kind since the housing collapse and promises to pave the way for others. That is welcome news to investors who have for years now been pressing to be repaid for losses they believe they should not have taken.

Biker Jim's Hot Dog Stand

In an amazing sequence of events, Memorial Day weekend and all that goes with it has snuck up on Allonhill.  What’s amazing is that we’ve had so much going on, nobody had time to prepare for the holiday.

Allonhill Job Fair a Success

Allonhill hosted a job fair yesterday in Denver. We had 125 applicants make the trek downtown to spend a few minutes getting to know us and telling us about their job skills and interests.

The Golden Rule of Mortgage Loans

One thing investors all know is the golden rule of mortgage loans: a loan that pays is worth more than one that doesn’t pay.  The ways that a loan can pay are easy to list:

SEC Underwhelms with ABS Review Rules

The Securities and Exchange Commission last week largely punted on an opportunity to bring about meaningful change to the way residential mortgage-backed securities (RMBS) are reviewed.

The rules imposing minimum standards for the review of asset-backed securities (ABS) are underwhelming and disappointing for two chief reasons.
First, they do not require independent, third-party reviews of RMBS.

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