|
March 21, 2001
Headlines: Latest News on U.S.Capital/Terminal Marketing/United Capital West Coast Bank + Synergy Resources www.QuickenLoans.com Bob Baker on Leasing Literature Leasing News List is Up-Dated---- Today in American History Solution.... ---------------------------------------------------------------------------------------------
Latest News on U.S.Capital/Terminal Marketing/United Capital No news on U.S.Capital or Terminal Marketing. I have been trying to confirm the rumor that they have filed bankruptcy, but have not been able to do this so far. United Capital was to have started accepting business January 1, 2001, but this is not the case. A diversion was tried through Spectrum Leasing, a "sister" company, if you will accept this phrase. I have heard many things about Lehman Brothers, and we are working on a story. I think the best summation to date is: "
While you probably have been
told not to publish anything
about United Capital, "the ball is in their court". Apparently, their agreement is almost dead or dead. All correspondence is being directed to Steve Dallas. My personal opinion is that all is not well albeit I am being told different. No trust is left. Any smart business person would fold so I would not be surprised if they try to resurrect their company as a different name. Please rise against
such tactics and do not reward
these people for their practices.
Reward those who prove
Name With Held ----------------------------------------------------------------------------------- Damage Control Listserve National Assoication of Equipment Leasing Chuck Griffin, Flex Leasing, Albuqeurque, New Mexico Not Happy "The fact that we appeared on an NAELB listserve list as being an unacceptable funding source has created a lot of problems for me. "Just because a broker got upset about a deal. My company should not have been on the list just because
a broker is upset that a deal
turns up at another company.
I had nothing to do
with it. "I am active in NAELB and follow the Code of Ethics. "You know me personally as being ethical and communicating straight with all the brokers we do business with." Chuck Griffin, CLP Flex Leasing, Inc. cgriffin@flex-able.com ( We stated when we saw the "listserve list" why Chuck was on it, and made no representation as to why. In all our dealings, he has been forthright. editor ) + + + Yesterday's E-Mail from Barry Marks, Esq. was out of context, an error on our part. Here is hopefully a correction, choice nuggets from Barry: "I had about the post being OK were not about the (@#!%&*!!) list but about one user's posting of
the specifics about his beef
with a funder. Personally,
I don't mind factual allegations
that a This is the comment that should have been in the place regarding "listserve list": "I'm
1/2 way through 103 emails
on my listserve email address,
but I must say I'm concerned
someone
had a beef, but I know some
of these guys and watched
them work out disputes "PLEASE: just naming everyone you don't like is a good way to get us all in trouble, it isn't fair and it is NOT why we have the listserve. It's one thing to send an email out responding to a query or even to say that you've had a problem with someone. It is quite another to lump honest funders who didn't do your deal or stuck with buying back a bad deal in with the out-and-out crooks (some were on the list) NAELB has disciplined. Some names were companies that went under." Barry S. Marks, Esq. bsmblik@aol.com ( There is also suggestions that NAELB members do business with NAELB funders, as it creates an ability for Joe Bonnano and Barry Marks to get involved. They state that of all the instances that have come before them involving non-NAELB funders, they have only achieved 10% satisfaction. editor ) ----------------------------------------------------------------------------------------------- Sierra Cities Correction You quoted a Sales Manager in your piece last week. Please clarify that it was a Sales Manager from Great Plains and not SierraCities. Thank you Richard A. Baccaro <RichardBaccaro@SierraCities.com SierraCities.com, Inc. EVP-Sales ( Mr. Baccaro is correct. It was the Great Plains sales manager and I am sorry if the story was not clear about the changing of the account from Sierra Cities to American Express. editor. )
------------------------------------------------------------------------------------- Hooray for another Leasing Dean...Bob Teichman!!! And thank you Mr. Teichman for your common sense. Common sense seems to be lacking a good many in our industry. Cream will rise to the top; and those who are the cream ( and you know who you are) do not need the "Code of Ethics" from any organization to show us the way to do business. We have set our own standards higher than any of these organizations. Yes, Kit, you may quote me. Cary Sue Lavan <clavan@homestbk.com> ----------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------ "Going to Kansas City"---This Friday, March 23 United Association of Equipment Leasing Funding Retreat Hilton Kansas City Airport 8801 NW. 112th Street Kansas City, MO 64153 Phone: 816-891-8900 Funders/Service Provider Amembal Capital Corporation Bancorp Financial Services, Inc. CapitalStream Commercial Money Center, Inc. (CMC) Creative Capital Leasing Group, LLC Equipment Lessors Protection Association Financial Pacific Leasing, LLC Leverage Leasing Company The Manifest Group Make appointments with dozens of funding sources and suppliers who will meet your needs for 2001. For registration and information on any meetings, please contact Melanie at the UAEL office: (510) 444-9235 x23 ____________________________________________________________________________________ ---------------------------------------------------------------------------------------- Press Release ##################################################################### West Coast Bank Expands Business Banking Products With Equipment Leasing
LAKE OSWEGO, Ore.--(BUSINESS WIRE)---West Coast Bank (Nasdaq:WCBO) has entered into an alliance with Synergy Resources, a third-party small business equipment leasing provider that serves business banking customers throughout the United States. The leasing option provides small-to-medium size business customers with an alternative to purchasing assets for their businesses. Leasing fixed assets allows businesses to remain competitive by utilizing the latest equipment available while protecting their cash flow with flexible financing options and terms. Equipment leases up to $250,000 are available. Robert D. Sznewajs, President & CEO, stated, "Our alliance with Synergy Resources directly supports our key strategy of providing a comprehensive set of competitive products and services to our business banking customers." Brian L. Cooper, EVP Retail & Business Banking, added, "West Coast Bank looks forward to providing a valuable leasing option to our business customers through Synergy Resources -- an established company that shares our standard of superior customer service." West Coast Bancorp is a northwest bank holding company with $1.4 billion in assets, operating 40 offices in Oregon and Washington. West Coast Bancorp is the parent company of West Coast Bank and West Coast Trust. It is the largest publicly traded bank holding company headquartered in Oregon. The Company offers a broad range of banking, investment, fiduciary and trust services. For more information, please visit the Company web site at www.wcb.com. Editor's Note: West Coast Bancorp (WCBO) is not West Coast Bancorp California. CONTACT: For West Coast Bancorp Robert D. Sznewajs, 503/598-3243 Dave Sinclair, 503/454-3389 or NOD+, 888/329-6157 #################################################################### Bob Baker on Leasing Literature Dear Kit, As a lease educator I am often asked the question about what books to read to learn more about the leasing industry. I have suggested Bill Granieri's Anatomy of the Equipment Leasing Sale ( which is somewhat outdated ,written in 85 ), The Lease professional handbook put out by UAEL, and Sudirs 2 Volume Handbook of Equipment Leasing ( which gets very technical ). But as you may be aware Barry Marks a CLP and Jim Johnson,Ph.D, just released a new book " POWER TOOLS FOR SUCCESSFUL LEASING". This book is nothing short of fantastic, 5 stars ***** !! This is a must read book for both the novice or seasoned pro. I don't mean this as a commercial but thought your readers would like to know its out there. As you know I don't normally endorse many things but this book should be required reading. The cost of the book is 79.95 a modest investment for the value received. It can be ordered through Barry's web site bsm@blik.com I look forward to seeing you at the upcoming conferences. Best Regards, Bob Baker CLP Baker@wildwoodfinancial.com> ------------------------------------------------------------------------------------------- Timliness of e-mail Signature from Kit Menkin Several readers have written that by the time they read Leasing News, the signature part is old. Meaning the "today in American history..." or other information is from yesterday. Most of the readers are on the East Coast. The goal is to issue Leasing News at 1pm, California time. Often we do not meet this date for many reasons. Since the signature is completed between 8:00am to 9:00am every morning, readers who request this "today" information, we will send at 9:00am, California time. If you would like this "early edition," let me know at kitmenkin@leasingnews. org. The signature is at the end of the e-mail. Sometimes it is an attachment, such as a business card, sometimes it is a business card. Often it has a motto or a saying or something unique about the sender. Here is one of the "signature museums" on line to give you an idea of what other e-mail user's signatures: http://huizen.dds.nl/~mwpieter/sigs/frameset.html or http://coolsig.com/ create your own signature in html http://www.webattack.com/shareware/comm/swemsig.shtml http://www.siglets.com/ If you want today's history first thing in the morning, please let me know at kitmenkin@leasingnews.com ----------------------------------------------------------------------------------------- www.QuickenLoans.com Press Release######################################################### Mortgage Rates Remain Around 30-Year Lows; Quicken Loans Enables Consumers to Take Advantage of Lower Rates to Buy a Piece of the American Dream, Refinance Costly Payments
LIVONIA, Mich.--(BUSINESS WIRE)----Since the Federal Open Market Committee (FOMC) first lowered interest rates in early January, and again today by a 0.5 point, mortgage rates continue to hover around near thirty-year lows.
These lower rates have
sent potential first-time
buyers - and existing homeowners
looking to "I would say that between 40 and 60 percent of homeowners today are probably at a place where they should at least take a look at whether refinancing would benefit their situation," said Daniel Gilbert, CEO of Quicken Loans. "Lower rates and easier access to lending resources through the Internet have resulted in a refinance boom across the mortgage industry. Most consumers are applying for conventional, fixed-rate loans, with about 20 - 30 percent taking cash out for debt consolidation. Consumers' average monthly savings are between $150 - 300 a month, with some customers looking at savings of as much as $800 a month. The Quicken Loans Refinance Calculator at www.quickenloans.com can help consumers who are wondering if refinancing is right for them." Quicken Loans Refinance Calculator So who should consider refinancing? Anyone who's obtained a fixed rate mortgage in the last two years or anyone with an adjustable rate mortgage could benefit from refinancing. Even consumers who've obtained a mortgage as recently as the last four months could look into refinancing as rates have since dropped. It could save them hundreds of dollars each month. For example, a consumer with a $250,000 mortgage at an 8 percent interest rate who refinanced the mortgage at a 7 percent rate, would save more than $171 a month, or $2,000, from their
yearly mortgage payments.
Consumers wishing to determine
their potential savings can
enter Center. Gilbert also suggests that anyone with an adjustable rate mortgage examine current rates to determine if they may be able to lock in a fixed rate mortgage at rates equal to or lower than their current adjustable rate mortgage. "This also may be a good time, if applicable, for consumers to consolidate their higher interest credit card debt at much lower interest rates through a home equity loan," said Gilbert. "A number of the applications we are receiving are from customers wishing to consolidate two loans together and get extra cash for debt consolidation." For example, a consumer with a $150,000 home loan at 8.5 percent, and another $25,000 in credit card debt at 17 percent, would have minimum monthly payments of $1509 ($1153 to the mortgage company and $356 to the credit card accounts). Consolidating all the debt into a $175,000 mortgage at 7 percent would drop their total payments to just $1164 a month, saving them $345 a month. And, in most cases, the interest paid will be tax deductible. The Debt Consolidation calculator at the Quicken Loans Home Equity Center can assist consumers in evaluating their potential savings. Consumers wishing learn more about home financing, or who would like to calculate their potential savings, should visit the Quicken Loans Refinance Center at www.QuickenLoans.com, or call the toll-free number 1-888-565-2488. About Quicken Loans Quicken Loans Inc., a leading provider of direct-to-consumer home loans on the Internet, offers mortgages in all 50 states and the District of Columbia. The company provides a wide variety of home financing options including conventional, sub-prime, home equity, government, and jumbo loans. Quicken Loans combines cutting-edge technology and high touch personal service to give consumers a convenient one-stop mortgage lending experience on the Internet. More than 700 experienced mortgage professionals at the Quicken Loans' state-of-the-art Web/Call Center work directly with consumers throughout the entire process to help consumers close their loans quickly. The Web site also educates and empowers consumers through timely interactive tools and information related to the home financing process. Quicken Loans is a wholly-owned subsidiary of Intuit Inc. About Intuit Intuit Inc. (NASDAQ: INTU) is the leader in e-finance, including financial software and Web-based services. Intuit develops and markets Quicken(R), the leading personal finance software; Quicken TurboTax(R), the best-selling tax preparation software; and QuickBooks(R), the most popular small business accounting software. Intuit's Quicken.com (R) Web site (www.quicken.com) is a leading financial Web site, offering a comprehensive set of financial news, information and tools, including insurance, mortgage, investment and tax preparation services. Intuit's products and services enable individuals, small businesses and financial professionals to better manage their financial lives and businesses. #############################################################
The Leasing News List The List is now divided into Chronological order and Alpahabetical order It is available on line at: http://www.leasingnews.org/list.htm You may also use "search" for stories on the companies and view the list in alphabetical order. The Leasing News List Chronological
89 changes
( This is also on line at our web site: http://www.leasingnews.org/list.htm
Center Capital (3/2001) acquired by Webster Bank, Farmington, Conn. Center Capital finances commercial and industrial equipment through installment sales and leasing programs to
customers in all 50
states. The firm employs a
staff of 60 and will continue
to operate Safeco, Seattle, Wash. (3/2001) announces they are seeking a buyer for its commercial credit and leasing subsidiary, Safeco Credit. CIT (3/2001) Tyco International Ltd. makes offer for about $9.2 billion in cash and stock in a deal that would allow the manufacturer to finance purchases of its wide array of products.Bermuda Hq, N.H. operation office. ( 2/2001) Closing Atlanta office and others, "freeze" on new broker business. FlexLeasing ( a subsidiary of Griffin and Associates),Albuquerque, New Mexico (3/2001 ) closing office, to merge with another company, “announcement soon,” say Chuck Griffin. United
Capital, Austin Texas ( 3/2001) reports from readers that customer base, leasing deals, not taking new deals, many employees let go, looks dark. ( 1/2001 ½ employees let go, portion of portfolio sold, discounters not paid, vendors not paid, it is alleged. 1/2001, selling off portfolio, problems ahead with vendors not paid, brokers not paid, sinking in quicksand 12/2000 no
new deals until after
the 1st of year, Steve
Dallas trying to hold it together. Terminal Marketing, NY,NY (3/2001) Brokers report deals not being funded, commissions not paid, appears out of money. U.S.Capital, Santa Barbara, Ca. (3/2001) Many brokers, super brokers, discounters left hold the bag, report they are filing bk Finova
(3/2001) files Chap.
11 as per plan, many disputes,
Finova Former CEO May Get
$9.3 (3/2001) Dow Jones questions take over plans (2/2001) Finova Bailed Out by
Buffett-Led Group ,
Berkshire Hathaway and Leucadia
National announced that they
have creditor issues, will have to file Chapter 7 and hope creditors don't push into Chapter
11, many guess stock
manipulations and other
"doings" going on.
( 2/2001) downgraded to
$350 Million in Finova 11/2000 reports $274 million
loss)( 10/2000 Dow Jones notes SierraCities (3/2001) Sierra Cities-Amex Merger Gets Green Light (2/2001) offer by American Express for $5.68 per share in cash. We predicted this last week, naming the company and floor price. American Express active in equipment leasing, likes what it sees, and Sierra Cities is the vehicle, not Advanta or others that it has viewed to purchase. (1/2001 VerticalNet Merger falls apart (1/16/01) Sells Off UK Assets, (7/2000_ 2nd quarter loss, see report http://www.leasingnews.org/articles.doc/newsletter3.htm Manifest Group-( 3/2001) changes name to U.S. Bancorp - Manifest Funding Services Manifest Group--( 9/1/2000 purchased by US Bancorp Leasing and Financial, "...a win for all the parties involved," Brian Bjella. 11/2000 Donald Polfiet leaves and no one knows where he went. If you know, please tell us. Preferred Capital ( 3/2001) Rumor close to sell to Capital Werks, and will become Preferred Leasing, a Capital Werks Company, this month (2/2001) internal memo about
training by company
about to take over, supposedly
there for several months,
"training" "didn't like letting his friends go." LeaseExchange.com (3/2001) Tom Williams to give it a 90 day trial run, also trying to raise money (2/2001) reported on "auto- pilot" ( 1/2001) Closes Irving office, cuts staff Studebaker Worthington Leasing ( 2/2001) sold to State Bancorp Efinanceworks (2/2001) lays off 27 employees, says will return $150 million to investors, and is shutting down. eLease( 2/2001 )employees Let Go, Prime Street is "History." (12/2000) purchase by Primestreet (June/July/2000)senior management changes ) Keystone Leasing (2/2001 ) the former management team of K.L.C., Inc. (dba Keystone Leasing), headed by its co-founder Alan Kaufman, formerly a Unicapital, has formed a new equipment leasing business, Keystone Equipment Finance based in West Hartford, CT. Saddleback Financial ( 2/2001) the management team of Orange, CA-based Saddleback Financial, headed by co-founders Warren Emard and Stuart Kennedy, survives with new investors, and does not do broker business. Lyon Credit (2/2001 ) founder John Bowes leaves , the company still is seeking new business, despite reports to the contrary ( 10/2000 ) operating as United Capital, a Division of Hudson United Bank, closes Dallas, Texas office (6/2000) closes Atlanta and Irvine, Calif. office (9/99 Hudson United Bancorp buys Lyon Credit Bayview Capital ( 2/2001) reports fourth quarter 2000 net loss of $92.5 million ( 12/2000 announces $17 million loss/later does not issue dividend ) U.S. Mellon, San Francisco (2/2001) Brian Madison Leaving, reportedly U.S.Mellon for sale Dana (2/2001) reports huge 4th quarter loss ( 7/2000 sold off portfolio, active as captive
lessor ) (2/2001 posts
a fourth-quarter net
loss, eliminates 10,000
jobs ( 7/2000 Comstock Leasing (2/2001) files bankruptcy ( 3/2000) Unicapital then Linc purchased Comstock and discontinued operation this date ) El Camino Leasing, Woodland Hills, California ( 2/2001 ) GATX announces purchase of portfolio, making ATEL Capital largest independent owned leasing company
in the world (1/2001)
( 1/2001 reportedly winding
down, sold portfolio, selling
partner Old Kent (2/2001) Closes door to new broker business Source Capital, Spokane, Washington, (2/2001) Issues $.22 per share cash dividend, $1 million
net income, 4% decrease
from previous year. ( 11/2000
) ceases accepting broker PLM International (2/2001 )MILPI Acquisition Corp completes cash offer for outstanding stock Colonial Pacific (2/2001)Colonial Closes former "Tilden Operation" in New York and Anaheim, rumors floating to surface: GE/CPL will leave small ticket broker marketplace ( 5/2000) no more re-brokered applications, except from one or two sources, such as Steve Dunham's Leasing Associates (11/98) purchased by GE Capital ) Linc Capital (2/2000 creditors file for Chapter 7 (9/2000 out of vendor and broker business, Nasdaq halts stock sales, $13.4 loss last quarter, 10/2000 assets for sale ) Orix ( 2/2001) Closes re-discount center, Steve Geller says "goodbye." Geller joins Leasing News Advisory Board, receives many accolades from readers ( 11/10) First Six Month Profits up 14% at Orix! ) 11/8 New President at Orix appointed . (10/2000) "long-term Outlook has been revised from Stable to Negative" Credit Alliance that it has changed its name to ORIX Financial Services, 9/2000 Japanese Bank President Commits Suicide (Orix is a 14.7% shareholder in bank having problems ), (8/2000 closes small ticket vendor division in\ Portland, Oregon, "Business as usual (in New Jersey and with brokers)," says Steve Geller) Affiliated
Corporate Services, Lewisville,
Texas (1/2001) Merges with
First Commerce Leasing
Ciarrocchi says "goodbye"
Mortgage Division sold, re-affirms
Leasing Division still for NationsCredit,
Business Leasing Group (1/2001) complaints from brokers regarding
getting Textron who is servicing the portfolio )(1/29/99) sold to Textron *** Textron does "broker business." Saddleback Financial ( 1/2001) Prez. Warren Emard announces "... still in business... We are still originating business through vendors and directly to lessees. Does not accept broker business." First Commercial Capital Corp ( 1/2001 to be acquired by TCF Leasing ) First International Bancorp ( 1/2001 ) to be acquired by UPS Capital First State Bancorp, Albuquerque, N.M ( 3/2000 sold leasing division-$64 million---) BSB Leasing ( 1/2001 Don Meyerson bought back the company and they are back in business at
303-329-09227. Official
announcement to be made soon.
They are notifying brokers
to start accepting new business.) Affinity Leasing, Washington ( 12/2000 to close and concentrate on Financial Pacific biz ) Banc One Leasing ( 12/2000 Lays Off 60, Closes 5 offices ) Bombardier ( 12/2000 reported having leasing problems, not confirmed, company strong in other divisions, but appears backing out of leasing division ) Capital Associates, Denver, Colorado ( 12/2000 no longer doing business, filing bk? ) Conseco Finance Vendor Service ( 12/2000 purchased by Wells Fargo Leasing). DVI Capital (12/2000 out of broker ) Finantra (11/2000 will eliminate its commercial finance operations in order to focus on its two core finance platforms, consumer finance and services and consumer mortgage lending. ) Dennis Horner (12/2000)acquired by Sandy Spring National Bank, a subsidiary of Olney, MD-based Sandy Spring Bancorp. The Equipment Leasing Company was a unit of Progress Financial of Blue Bell, PA. Metwest Leasing, Spokane Wa. (11/2000 is pulling the plug, confirmed by five sources. 9/2000 advising brokers that they have run out of funds so they are unable to fund a transaction we have there for funding.) Newcourt
( 8/2000 sold off ) Old Kent
Financial ,Grand Rapids, Michigan
( 11/2000 Fifth Third Resource Leasing, Herndon, Virginia ( 11/2000 MicroFinancial/Leasecomm acquires major portion of the assets.) Signature Leasing, Dublin, California ( 11/2000 no longer in small ticket marketplace; appears to have closed down ). Transamerica ( 11/2000 for sale, but no buyers, so taken off marketplace, no longer for sale ) Varilease ( 11/2000 closed down ) Copelco
(10/2000 ceases broker business,
many complaints in manner
turning off faucet 5/2000 Matsco Financial (10/2000 purchased by Greater Bay Bank ) T&W, Washington (10/2000 filed Chapter 11. Creditors meeting on 12-4-00 Seattle. Case # 00-10868 US Bankruptcy Court Western District of Wash. 206-553-7545. Debtor Attorney-Marc Barreca 206-623-7580) Balboa Capital ( 9/2000 Founder Pat Byrne "...office available any time he wants to use it" Reported he is no longer "in control" or working "full time" at Balboa, the company he started). Liberty Leasing, Des Moines, Iowa ( 10/2000 closed, selling portfolio, owned by Commercial Federal Bank, Omaha, Nebraska ) Leasing
Solutions, San Jose ( bankrupt
)(9/2000) Files BK (10/1998
stock loses more than 50%
of
stream of announcements
of ongoing negotiations, forbearance
periods, the establishment it against borrowings!) Bay View Commercial Corporation (Bay View Bank) 9/2000 discontinuing all franchise loan and lease production Charter Financial ( purchased by Wells Fargo 9/5/2000 ) Onset Capital ( 9/2000 Irwin buys 87% equity ) Republic
Leasing, South Carolina 9/27/2000
( "The expected result
will be a sale of Republic but in thirteen years we have not sold off any leases or gone direct after broker's business, ever." ) SFC Capital ( 9/15/2000 purchased by Trinity Capital ) Lease Acceptance Corp---( 7/26/2000 ceases broker business ) New England Capital ( 6/2000 sold to Network Capital Alliance a division of Sovereign Bank. Sovereign did hire two people who will run a sales office in CT, doing basically the same deals with the same people as before. Little will change in that aspect. Prime Capital, Chicago ( 6/2000 closed ) Scripp Financial ( 6/29/2000 ( purchased by US Bancorp ) Metrolease--( 5/2000 reports closing operation, John Blazek at Evergreen Leasing, Hathcock closing assets, will not confirm nor deny; many serious rumors of serious fraud floating around the marketplace, including debt to Textron Financial, reported to file bk.) Phoenix ( 5/2000 both divisions closed ) FMA Financial, California ( 4/2000 reportedly closed to brokers ) USA Capital Leasing ( 5,2000 ) creditors force Chapter 7 ( 4,2000 ) file chapter 11 bk Fidelity ( 4/2000 acquired by EAB, a wholly owned subsidiary of ABN AMRO Bank N.V., headquartered in the Netherlands, raising funds ) NIA National Leasing ( 3/2000 purchased by Lakeland Bancorp ) Franklin
Leasing, Des Moines, Iowa--owned
by Liberty Bank-- (2/2000)-no
longer writing leases Bankvest
(1/2000)bankrupt, voluntary
(11/99) Orix, smaller banks,
creditors file for involuntary Commerce Security ( 9/99 closed to leasing broker program )(11/99 last fundings/ 12/2000 Leasing News gives credit to Ron Wagner as the first to see the quality and margins of leasing changing, decides to avoid what was to happen in the year 2000 ). Franchise
Mortgage Acceptance Corporation
(FMAC) 11/1999 purchased Heller
Financial's Commercial Japan Leasing Credit claims ( JLC --6/99 purchased by Orix ) Liberty Leasing ( 6/1999 closed, California company ) Golden Gate Funding ( 2/99) purchased by Westover Financial Rockford Industries (2/99) sold to American Express
no dates on these changes: anyone can help us with dates, would be appreciated. editor American Business Leasing ( gone ) The
Bancorp Group, Inc. (Southfield,
MI) (Not accepting news business.
The BOD of the parent but not originating. no longer in business ) Imperial Credit Industries (ICII) ( sold portfolio ) Merit Leasing ( gone ) Prime Leasing, Minnesota ( no longer doing business )
***Original Purchases by Date by Unicapital
American Capital Resources 2/98 Boulder Capital Group 2/98 Cauff, Lippman Aviation 2/98 Jacom Computer Services 2/98 Matrix Funding 2/98 Merrimac Financial Associates 2/98 MunicipalCapital Markets Group 2/98 The NSJ Group 2/98 PortfolioFinancial Servicing 2/98 --acquires assets of Unicapital Vanlease 2/98 The Walden Group 2/98 K.L.C., Inc. dba Keystone Leasing 5/98 back in business Jumbo Jet 7/98 HLC Financial 7/98 Saddleback Financial Corporation 7/98 ---back in business U.S. Turbine Engine Corp. 7/98 The Myerson Companies dba BSB Leasing 9/98 --- back in business under original owner now: Don Meyerson ( for story on Unicapital, see:
|
|
