Coleman Report
Fraud Friday – Bank Director who Faked Death Gets 30 Years
October 31, 2014 By Bob Coleman Editor, Coleman Report “Through a web of lies and deceit, Aubrey Lee Price conned his elderly investors and a federally insured bank of more than $70 million, and then attempted to further his con and avoid accountability by faking his own death. However, his life on the lam ended…
Read MoreColeman Thursday’s Movers and Shakers
October 30, 2014 By Bob Coleman Editor, Coleman Report Kathryn Lorenz Named VP of Mountain West Bank Kathryn Lorenz has been named vice president and SBA commercial lender at Mountain West Bank’s downtown Boise branch. Lorenz has more than 30 years of experience in the banking profession, with over 20 years as an SBA loan…
Read More8,000 Small Business Loans Apps Declined a Day
October 29, 2014 By Bob Coleman Editor, Coleman Report The State of Microenterprise and Microfinance in the US: Innovations and Opportunities Tuesday, October 28, 2014 Interview with: Connie Evans President & CEO Association for Enterprise Opportunity (AEO) Bob Coleman: We are talking with Connie Evans, President & CEO, Association for Enterprise Opportunity (AEO) in Malibu,…
Read MoreSBA Hot Topic Tuesday – SBA 7(a) Prepays Inch Above 8%
October 28, 2014 By Bob Judge Editor, CPR Report In August, prepays returned to the 8% range. This represents the 5th time in 8 months this year that the CPR has been above this benchmark. As to the cause, both defaults and voluntary prepayments rose by double digits. Defaults, off of the second lowest reading…
Read MoreMug Shot Monday – Sr Vice President Guilty for Calculation of Loan Loss Reserves
October 27, 2014 By Bob Coleman Editor, Coleman Report Former Northern California United Commercial Bank’s Manager of Credit Risk and Portfolio Management has pleaded guilty to charges of conspiracy to commit false bank entries and reports. Thomas Yu is guilty of failing to properly downgrade poor performing loans. This enabled the bank to artificially inflate…
Read MoreFraud Friday – Do Banks Commit Fraud when Projections Don’t Pan Out?
October 24, 2014 By Bob Coleman Editor, Coleman Report Not in a recent lawsuit against pens lawyer Diane Schmitt in a comprehensive article about an SBA lender’s liability in a failed Coffee Beanery franchise. She writes; Following on the heels of the financial crisis, those of us who regularly represent lenders in workouts and enforcement…
Read MoreColeman Thursday’s Movers and Shakers
October 23, 2014 By Bob Coleman Editor, Coleman Report Donna Serres New Wells Fargo SBA Head Reports the Portland Business Journal’s Matthew Kish. Wells Fargo has named Donna Serres the head of its national SBA lending arm. She will oversee 430 bankers in 50 states. Serres previously served as national production manager for the bank’s…
Read MoreSmall Business Committee Chairs – Who’s Up Next?
October 22, 2014 By Bob Coleman Editor, Coleman Report Ohio Representative Steve Chabot and Idaho Senator James Risch says the Washington Post’s J.D. Harrison. Writes J.D; Chabot also sponsored a bill that would increase the Small Business Administration’s funding authority for certain Small Business Investment Companies, which generally invest in young, fast-growing ventures. This summer,…
Read MoreSBA Hot Topic Tuesday – It is a Privilege to Participate in SBA’s Lending Programs, not a Right
October 21, 2014 By Bob Coleman Editor, Coleman Report Says SBA in its proposed rule to tighten up the language in its regs to make it very clear the agency has the right to suspend or revoke one’s participation in the SBA lending programs. Here are a couple of highlights from the 11 page proposal.…
Read MoreMug Shot Monday – Court orders Nik Patel to sell Hotels, Homes, Jewelry, Luxury Cars
October 20, 2014 By Bob Coleman Editor, Coleman Report A Lamborghini Gallardo and a Rolls Royce. Five watches – a Rolex, two Richard Mille and two Hublot watches. Gold coins. Thirty-year-old Nik Patel has agreed to sell everything and turn the proceeds over to Pennant Management amid allegations of a $179 million fraud. Also on…
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