Posts Tagged ‘Coleman Report’
Mug Shot Monday — Ex-Bank Director Sentenced to 12 Years
June 8, 2015 By Bob Coleman Editor, Mug Shot Monday For $347,000. Michael Bernick is a contractor and former director of Metropolitan Savings Bank in Lawrenceville, PA. After the community bank failed, costing the FDIC $9.4 million, prosecutors began looking for the usual suspects. They discovered Vice President and Managing Officer Donna Shebetich was a…
Read MoreMain Street Monday — The Wright Brothers and their Banker
June 8, 2015 By Bob Coleman Editor, Main Street Monday I knew very little about the Dayton, Ohio, small-business owners of a bicycle shop until I just finished David McCullough’s history book about The Wright Brothers. It’s a fantastic read about Main Street American entrepreneurial spirit, I give it a big-time thumbs up. Anyway, much…
Read MoreFraud Friday — SIGTARP Sends its 100th Banking/Borrower Criminal to Prison
June 5, 2015 By Bob Coleman Editor, Fraud Friday “100 defendants have gone to jail for crime related to the government’s response to the financial crisis known as TARP—the defendants’ crimes were serious and so were SIGTARP’s efforts to stop them,” says Christy Romero, Special Inspector General for TARP (SIGTARP). “100 times, SIGTARP held defendants…
Read MoreIs SBA 7(a) 100% CRE Financing Prudent Lending?
June 4, 2015 By Bob Coleman Editor, SBA Marketing Trends Thursday SBA Marketing Trends Thursday I received plenty of comments regarding last week’s reporting of SBA lenders who are offering 100% financing for commercial real estate for certain white collar professionals. The first one… “Hi Bob, Is this morning’s brief news or a paid advertisement?”…
Read MoreColeman’s Movers & Shakers
June 3, 2015 By Bob Coleman Editor, Coleman’s Movers & Shakers 1st Capital Bank Announces Rob Skeen Appointed Vice President, Government Guaranteed Lending Manager Jon Ditlevsen, the Monterey-based Bank’s Chief Lending Officer, says, “We are very pleased to have Rob join our team as the Manager of our Government Guaranteed Lending Department. He is an…
Read MoreIntegrity Bank Reduces Equity Requirements for Veterans and Women
June 3, 2015 By Bob Coleman Editor, C-Suite Small Biz Lending Challenges Report Houston-based Integrity Bank has reduced the down payment required for SBA loans under $150,000 from 30 to 20 percent for qualified borrowers. The bank also will loan the borrower 25 percent toward the required down payment, not to exceed $7,500. Repayment of…
Read MoreSBA Hot Topic Tuesday — SBA 7(a) Prepays Stay Below 7%
June 2, 2015 By Bob Judge Editor, CPR Report In March, prepays stayed below 7%, remaining close to February levels. Overall prepayments rose by 2% to 6.58%. Defaults remain below 2% for 19 months in a row. This reading was the 5th lowest since 1999. Looking at the largest sector, we saw the 20+year maturity…
Read MoreThe Amended Tax Return Fraud Scheme
June 2, 2015 By Bob Coleman Editor, SBA OIG Report Coleman SBA OIG Report I always wondered if anybody pulled this one off. File bogus tax returns with the IRS, have the lender certify the returns with the IRS Form 4506, and then file an amended return. Someone did, and got caught. This just in…
Read MoreMug Shot Monday — Nik Patel’s Two-Year old Quotes Hint at Fraud?
June 1, 2015 By Bob Coleman Editor, Mug Shot Monday “I used my money first.” “From the debt side, we’re finding it very easily. We’re able to find a debt financing piece of these purchases, and we’ll be looking for an equity partner soon.” “‘For the most part, it’s been smooth sailing.” All are quotes…
Read MoreMain Street Monday — 67% of Main Street Expects Revenues to Grow
June 1, 2015 By Bob Coleman Editor, Main Street Monday More from the Bank of America Spring Main Street Report, Part III. Nearly two-thirds (63 percent) of small business owners expect their revenue to increase in the next 12 months, compared with 68 percent a year ago. One in three small business owners (31 percent)…
Read More