Coleman Report

Febraury 27, 2015 By Bob Coleman Editor, Fraud Friday The feds finally get a too-big-to-jail banker by inducing a guilty plea by former Bank of America Senior Vice President, Justin Brough. Christy Romero, Special Inspector General for TARP says, “Brough, a former senior vice president at Bank of America, pleaded guilty to misapplying bank funds…

February 27, 2015 By Bob Judge Editor, CPR Report In December, prepays fell back below 7% for the first time since July, decreasing 27% from November. As to the cause, we witnessed double-digit decreases in both defaults and voluntary prepayments. Defaults fell by 26%, pushing the sub-2% readings to a record 16 months in a…

February 26, 2015 By Bob Coleman Editor, Thursday’s Movers and Shakers Alex Sadas Appointed Vice President at Kitsap Bank Alex Sadas has joined the Kitsap Bank as vice president and credit officer, and will be based out of the King County Loan Office in Bellevue, Washington. Sadas comes to the bank with over 23 years…

February 25, 2015 By Bob Coleman Editor, Main Street Wednesday “Small Business First is about changing the way the city of New York interacts with small business owners,” says Mayor Bill de Blasio. “When a representative of the city walks through the door of a small business for the first time, we want the owner…

February 24, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday The records achieved by Wall Street stock market indices are trickling down to Main Street according to a recent TD Bank Small Business Survey. Not only is Main Street expecting to see revenue and sales growth, but 70 percent of survey respondents said they…

February 23, 2015 Park Avenue Bank closed in 2010 after receiving $11 million in TARP funds. Its president, Charles Antonucci was the first defendant convicted on TARP fraud charges in 2010. A former senior vice president pled guilty in 2013. And last December another defendant pled guilty. Add Allen Reichman to the list. From July…

February 20, 2015 By Bob Coleman Editor, Fraud Friday The trial has begun for the former Chief Operating Officer and Chief Credit Officer of San Francisco-based United California Bank. The crime? Ebrahim Shabudin allegedly hid loan losses. UCB was the ninth-largest bank to fail during the financial crisis. A TARP recipient, the $298 million taxpayer…

February 19, 2015 By Bob Coleman Editor, Coleman Thursday’s Movers and Shakers Raymond Monahan promoted Chief Operating Officer of TMC Financing “Ray has extensive SBA lending experience,” says TMC Founder and CEO Barbara Morrison. “Under his leadership, the servicing team made significant improvements in workflow efficiencies, documentation and compliance. His expertise also has helped minimize…

February 18, 2015 By Bob Coleman Editor, Coleman Report The new Republican head of the Senate Small Business and Entrepreneurship committee will only serve two years as Chair as he simultaneously runs for Governor of Louisiana. Reports Joyce Rosenberg of the Associated Press: David Vitter, who became chairman last month when Republicans took control of…

February 17, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA continues to emphasize its “small” loan initiatives with credit unions. Says Administrator Contreas-Sweet, “A unique aspect of the SBA and NCUA partnership is that SBA small dollar loans do not count against credit unions’ business loan cap, so they are well suited to…