Business

Resumes Should Tell it All

I was at the University of Denver’s campus last week, meeting with students. I talked about my career path and its many turns. Looking back, the turns that seemed the most discouraging were always the ones that took me the farthest and turned out the best. I took a lot of chances with many of my career decisions, and I also ended up taking a few jobs because I had to.

The Borrower's "Sophie's Choice"

A great irony of the subprime era was that tax and insurance payments were escrowed for borrowers with money in the bank and proven credit, yet those who lived paycheck-to-paycheck did not have to include T&I in their mortgage payments.

Fifty Sets of Foreclosure Rules

The mortgage industry has been absorbed in pulling itself back onto its feet for close to four years now. The work that has taken place to sort out what went wrong, to establish blame, and to make restitution where it could be made, is staggering. As a nation and as an industry, it’s clear we can see a light at the end of the tunnel. Historical loan reviews, whether for private investor suits or at the demand of public authorities, are largely defined, and many or most are underway, with some near completion. The economy is showing signs of life.

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.