Overture Technologies and the Association of Independent California Colleges and Universities (AICCU) Announce Marketing Partnership for Student Loan Marketplace

Bethesda, Maryland, and Sacramento, California (PRWEB) April 16, 2009

The Association of Independent California Colleges and Universities (AICCU), representing California’s 75 non-profit accredited colleges and universities with more than 289,000 students, and Overture Technologies, the leading provider of decisioning software solutions that enable transparent, accurate and responsive lending processes, announced today a marketing partnership to create the California Student Loan Marketplace. The California Student Loan Marketplace will be an online education financing resource that connects students and their families with lenders to encourage smart borrowing practices and compare reliable private student loan terms. Prager, Sealy, & Co., LLC, a leading higher education investment banking firm, will serve as the program manager for AICCU.

“It is more important than ever for families to have clear, accurate, and easy-to-understand information about alternatives for financing college costs,” said Jonathan Brown, AICCU president. “The California Student Loan Marketplace will help provide students with affordable higher education at top institutions.”

The California Student Loan Marketplace will allow schools to provide students and their families with access to unbiased information on financing higher education. The Marketplace will offer students, families, counselors, and institutions the following:

*Reliable loan terms from multiple lenders: The Marketplace will provide what students need – the ability to compare and select reliable financing options – not “as low as” advertisements – with a complete listing of reliable loan terms.

*Preservation of borrower credit scores and privacy: The Marketplace will provide a more efficient, safer loan shopping experience for students by pulling a single credit report to match borrower information with multiple lenders’ student loan products and allowing borrowers to choose which lender receives their information.

*Smart borrowing practices: The Marketplace will provide information on how to borrow wisely, including exhausting federal loan options before turning to private loans, and using a co-signer to achieve the best rates and fees.

*Guiding students to make informed decisions: The Marketplace can be configured with school-specific information about policies, deadlines, academic programs, and grade-levels to assure that students receive custom-tailored loan options.

*Enhanced transparency: The Marketplace will be an open network of lenders that allows schools to provide students with meaningful guidance in a safe and trustworthy environment.

“Overture is pleased to work with AICCU, a trusted group that is dedicated to connecting students with lenders for smarter financing of their education at private, non-profit colleges in California,” said Peter Carroll, Overture Technologies’ vice president, product marketing.


Since 1955, the Association of Independent California Colleges and Universities is the voice of California’s private, non-profit, WASC accredited colleges and universities for state and federal issues. AICCU schools enroll over 280,000 students annually. Founded in 1955, AICCU offers research, consolidated purchasing, and professional development opportunities to member schools; it also provides information to counselors, students, and parents about higher education in California.

About Overture Technologies

Founded in 2000, Overture Technologies is the leading provider of decisioning software solutions that enable the transparent, accurate and responsive lending processes required in today’s mortgage and higher education industries. Overture’s customers are dedicated to providing superior mortgage underwriting, servicing and securitization services and to increasing students’ access to higher education financing alternatives. Our leadership team applies decades of industry experience from leading financial services and technology firms to help our customers achieve their goals.

About Prager, Sealy & Co., LLC

Since Prager, Sealy & Co. was founded in 1987 with the assistance of two universities, higher education finance has remained a primary focus and strength. The firm’s mission is to provide clients with unparalleled personal and professional service, approaching each engagement with integrity, innovation, and insight. Prager, Sealy is committed to redefining investment banking by offering broad strategic advice with expert market execution.

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DebtMarket Launches as First Automated Portfolio Marketplace; Will Expedite Pricing, Purchase and Sale of Consumer Debt

Danville, Calif. and Los Angeles (PRWEB) August 17, 2009

In an effort to answer the vexing question of how financial institutions can price troubled assets, DebtMarket (http://www.debtmarket.com) launches today as the world’s first automated marketplace that connects buyers and sellers of loan portfolios.

DebtMarket enables an estimated 60,000 loan originators (primarily banks, credit unions and finance companies) and portfolio owners (primarily institutions, hedge funds and private equity investors) to list loans from the major consumer loan asset classes, including automobiles, mortgages and student loans. In the months ahead, the company also will support credit card portfolios and other asset classes. DebtMarket accepts loan portfolios of any size, credit quality and loan performance.

DebtMarket enters a market that is measured in the trillions of dollars. Total U.S. revolving and non-revolving consumer debt, including mortgages, was more than $ 14 trillion at the end of 2008, according to the Federal Reserve. DebtMarket also has the potential to play a role in helping both the federal government and the lending industry price hundreds of billions of dollars in troubled assets. Clearer market pricing results in greater market liquidity and efficiency.

The company also announced it has tapped Intel’s former research director as CTO and enlisted several top consumer finance leaders for its advisory board [see the news release, “DebtMarket Attracts Leaders in Technology, Financial Services”].

“DebtMarket is a solution to the credit crisis, applying game-changing technology to provide a transparent, efficient, standardized platform that financial institutions and institutional investors anywhere can use to price, purchase and sell debt,” said DebtMarket Founder and Chairman Scott Walchek. “DebtMarket transforms the existing secondary debt market – much as eBay transformed the auction marketplace – by making it easy for institutions and institutional investors of all types and sizes to participate.”

A serial entrepreneur who has created, led and/or funded an impressive roster of highly successful start-up companies, Walchek has been an innovator in educational video games, a pioneer in Internet shopping cart technology, and was among the first to see the search technology opportunities in China with Baidu. “Technology is the gateway to transparency, and transparency is the tonic that has the power to re-ignite the economy,” Walchek said. “The world’s first automated portfolio marketplace, DebtMarket is the antidote to traditional opaque loan sale methodologies that talk about transparency but fail to deliver. We see DebtMarket as an ideal tool for regulators seeking to expedite the clean-up of toxic bank assets, especially for those small- to mid-size institutions that previously have lacked a marketplace for their loans.”

DebtMarket enables participants to establish and negotiate pricing, perform due diligence and complete all the paperwork needed to close the transaction. The end-to-end transaction technology eliminates inefficiencies, reduces costs, and invites participation from buyers and sellers regardless of size, geography or other previous barriers to entry. DebtMarket technology delivers transparency through a series of essential elements: an auction-style marketplace for competitive pricing; loan-level detail; direct contact between buyer and seller; a visible next-step process in the transaction; and a published fee structure.

“DebtMarket has the potential to transform the way institutions and institutional investors buy and sell consumer debt,” said Mike Sheridan, Co-founder and President of DebtMarket. “DebtMarket acts as a market stabilizer by providing access to buyers and sellers beyond companies’ traditional reach. This helps address the ‘price discovery’ problem that historically has discouraged so many small- and medium-size institutions and new investors from participating. DebtMarket’s disruptive technology pushes the envelope by handing control to buyers and sellers, which results in greater transparency.”

Industry observers suggest that DebtMarket will initially attract buyers and sellers of distressed debt, but that demand for a full-spectrum, technology-enabled solution is likely to extend to the market as a whole.

“The market today is distressed, with assets being sold at a discount — and that’s where an online marketplace like DebtMarket will generate its early successes,” said Jim Jones, former CEO of Residential Capital, Inc. (ResCap), the real estate finance arm of GMAC, and one-time head of consumer credit at both Bank of America and Wells Fargo. Historically, securitization has provided debt originators and portfolio investors with the information they required to make a buy/sell decision. “The difference today is there is no securitization taking place,” Jones said. “The DebtMarket platform assimilates the same type of information buyers and sellers need and provides it via a transparent medium. The result is that buyers and sellers can be more confident that their bid will be evaluated on an equal footing with others. That’s what transparency is all about.”

Walchek and Sheridan began testing the DebtMarket model in July 2008, when they launched a beta to address a single asset class – auto loans. Since then, GDNAuto has transformed the way auto dealerships and financial institutions trade as much as $ 30 billion a year in subprime auto debt. The platform’s success within the auto finance realm has led to a number of significant partnerships between the newly dubbed DebtMarket and auto finance institutions and affiliated service companies.

That continues today with the announcement of a definitive agreement with Frazer Computing, Inc., a Canton, N.Y.-based provider of dealer management software, to incorporate certain features of the DebtMarket platform into its dealership offerings. Frazer is one of the industry’s largest DMS providers, with 4,700 active users, most of which are independent dealers [see the news release, “DebtMarket Signs Partnership Agreement with Frazer Computing”]. DebtMarket said it intends to pursue similar relationships across the broad consumer credit landscape.

About DebtMarket

DebtMarket (http://www.debtmarket.com) is the world’s first automated marketplace that connects buyers and sellers of loan portfolios. The innovative DebtMarket technology platform delivers price transparency, process automation and direct buyer/seller communication in a secure online environment.


More Securitization Press Releases

Total Mortgage Identifies Key Trends in the Mortgage Marketplace in 2011

Milford, CT (PRWEB) January 12, 2011

Total Mortgage Services, LLC, a leading national mortgage lender featuring some of the lowest mortgage rates available, today highlighted five key trends likely to impact the mortgage industry and housing market in 2011.

The mortgage and housing markets continue to be impacted by the housing crisis, which has fundamentally and permanently altered these businesses, commented John Walsh, President of Total Mortgage Services. In 2011, we expect the mortgage and housing markets to continue to undergo rapid changes. However, those who are able to rise to these challenges and opportunities will be able to survive and prosper in the new year.

2011 Mortgage Industry Trends

Quality mortgage brokers will survive and remain relevant: Mortgage brokers, who are committed to extensive product knowledge, ethical behavior, and the highest levels of customer service, provide significant value to borrowers throughout the mortgage process. Without the mortgage broker, competition amongst lenders will diminish. Mortgage brokers have the ability to shop for the best rates and products at a variety of mortgage lenders. This allows individual borrowers to obtain access to a wide array of products and rates. It also creates competition between lenders that benefits borrowers through lower rates and better products. The many benefits that brokers provide to borrowers help to ensure their continued relevance in the competitive mortgage industry.

True Estate Financial loans and Collateralized Financial debt in the US Market Marketplace Study Report Now Offered from IBISWorld

Los Angeles, CA (PRWEB) June 27, 2012

In the course of the earlier 10 years, Americans have funded their spending through credit score playing cards, mortgage funding and house fairness financial loans, leading to combination home financial debt to rise at an annualized rate of 9.seven% to $ 13.5 trillion in the ten several years to 2007. Amid this credit card debt accumulation, financial institutions and creditors have increased their action, promoting mortgages and credit card debt instruments on the secondary marketplace. This aided financial institutions and lenders diversify their risk and facilitate lending by utilizing proceeds from home loan-backed securities (MBSs) and other income to underwrite new financial loans. Even now, as the subprime disaster produced and defaults rose, need for mortgages and other personal debt securities on the secondary market collapsed. According to IBISWorld sector analyst Eben Jose, the private sector has seriously reduce lending in response to falling need. Inside of the mortgage loan-issuance sector, personal issuance of MBSs fell from $ 765.9 billion in 2007 to $ 34.four billion in 2011, in accordance to the Securities Market and Financial Markets Association (SIFMA) information and IBISWorld estimates. Nevertheless decreased MBS activity has not seriously reduced revenue many thanks to federal government-sponsored entities (GSEs) like Fannie Mae and Freddie Mac. In accordance to SIFMA and IBISWorld estimates, MBS issuance by GSEs rose from $ 1.five trillion in 2007 to $ one.six trillion in 2011, therefore boosting sector revenue. Genuine Estate Financial loans and Collateralized Personal debt earnings is envisioned to tumble at an annualized price of 4.1% to $ 293.3 billion over the five several years to 2012, like a projected two.eight% decrease in 2012.


Offering mortgages and debt devices on the secondary market drove market expansion in the 10 a long time to 2007 until finally the subprime-house loan crisis created. A rise in mortgage loan defaults thanks to large fascination costs induced the disaster. Bank loan payments on adjustable-rate mortgages (ARMs) and other teaser-charge loans rose, and the subsequent increase in defaults, sparked a credit rating disaster as securitized loans collapsed. As a end result, banks and institutions had to publish down collateralized-debt obligations, MBSs and other credit score securities, states Jose. The consequences of the subprime house loan collapse and near overlook of “economic Armageddon” will average progress in excess of the subsequent five several years. Stringent regulation, rising interest charges and even more deleveraging will reduce desire. The restoration will probably be sluggish as unemployment remains elevated for most of the time period. Profits is forecast to increase via 2017.


In accordance to the US Census Bureau and IBISWorld estimates, the leading 3 corporations in the Genuine Estate Financial loans and Collateralized Financial debt industry are anticipated to account for about 35.four% of business earnings in 2012. In the five a long time to 2012, the market has continued to consolidate functions during the housing boom. In the course of the housing growth, focus enhanced as scaled-down house loan businesses have been obtained to supply economies of scale and a safe source of home loans for securitization by bigger operators. It is essential to notice that concentration stages differ considerably amongst market segments. For example, the secondary mortgage marketplace has a high stage of concentration, notably because the collapse of the true estate market in 2006. Specifically, agency issued MBSs are approximated to account for about ninety seven.9% or $ 1.six trillion of MBSs issued in 2011 (most current offered info). In comparison, non-company securities accounted for about 32.% MBSs issued in 2007. The decline in non-company MBSs is largely related to fallout associated with the subprime disaster as banks have been necessary to publish-down billions of dollars in property considering that 2007. For far more info, check out IBISWorlds Actual Estate Financial loans and Collateralized Personal debt in the US sector report website page.


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IBISWorld industry Report Crucial Subject areas


The sector is comprised of nondepository enterprises that focus in lending exercise. Not like banks and other standard creditors, though, business contributors do not rely on deposits to situation financial loans. As an alternative, nondepository firms provide lending by promoting securities (i.e. bonds, notes, inventory) or insurance coverage guidelines to the community. In addition to immediate lending, participants also make revenue by securitizing and marketing mortgages and other loans on the secondary marketplace.


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About IBISWorld Inc.&#thirteen

Identified as the nations most reliable unbiased resource of sector and marketplace research, IBISWorld offers a comprehensive databases of special info and examination on every single US industry. With an comprehensive on the internet portfolio, valued for its depth and scope, the business equips consumers with the insight required to make much better company choices. Headquartered in Los Angeles, IBISWorld serves a selection of enterprise, specialist provider and authorities businesses by means of a lot more than ten locations worldwide. For a lot more details, go to http://www.ibisworld.com or phone one-800-330-3772.


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