“A blue chip is a stock in a corporation with a national reputation for quality, reliability and the ability to operate profitably in good times and bad.  The term ‘Blue Chip’ clearly defines the senior management team at 1^st Reverse Mortgage USA.” - Dan Harder Vice President 1st Reverse Mortgage USA

David Brindley has more than 30 years of experience in the mortgage industry.  He will lead the 1^st Reverse Mortgage USA Correspondent Lending Group.   His ability to develop partnership relationships with correspondents in the reverse mortgage industry has been described as superior.  Likewise, he has extensive knowledge of the securities markets and the correspondent process fits perfectly with 1^st Reverse Mortgage USA.

Debbie Turner has served as Chief Operations Officer and Compliance Officer for multiple organizations. Turner has over 28 years in the mortgage industry, holding senior management positions with a number of large financial service companies.  This includes responsibility for management of regional, divisional and corporate operations and production.  She was the founder and owner of a regulatory compliance consulting company with extensive experience in policy and procedure development for the mortgage compliance industry, performing departmental audits, and providing necessary training for staff.  She also received the “National Presidential Award of Achievement” for her work in operations and compliance.

Both executives will join the senior management team of the company that includes Tim Harder Vice President TPO business development with over 20 years in mortgage banking and reverse mortgages, and Sarah Hulbert National Sales Manager Retail business development with over 28 years in reverse mortgages.

“Today’s reverse mortgage lending environment is highly competitive.  This senior management team has tremendous experience in the reverse mortgage industry, capital markets and general overall mortgage banking.  The development of a balanced business plan, with five distinct origination sources and a tradition of integrity and honesty, is exciting for us in 2012,” Harder said.

1st Reverse Mortgage USA® has direct endorsement authority from HUD to originate, process, underwrite and close reverse mortgages.

Visit www.1streversemortgageusa.com or call (303) 854-3035.

Douglas W. Shorenstein

The Board of Governors of the Federal Reserve System named Douglas W. Shorenstein as chairman of the Federal Reserve Bank of San Francisco and Patricia E. Yarrington as deputy chair effective January 1, 2012.

Shorenstein used to be chairman and CEO of San Francisco based Shorenstein Properties, one of the country’s oldest real estate organizations. He joined the Federal Reserve Bank in 2007, appointed deputy chairman from 2009 until 2010 and served as chairman since 2011.

This veteran banker served on the boards of other institutions including: Environmental Defense Fund; Executive Council of the University of California at San Francisco Medical Center; Executive Committee, The Real Estate Roundtable; and The Joan Shorenstein Center on Press, Politics and Public Policy at Harvard University’s Kennedy School of Government.

Yarrington was vice president and CFO of global energy company Chevron Corporation in San Ramon, California. She used to be senior financial and analyst for Chevron and served as treasurer and vice president of strategic planning.

She has been on the Federal Reserve Bank of San Francisco’s board of directors since January 2009 and sat as deputy chair since 2011. She previously served on the Bank’s Economic Advisory Council from 2007 to 2008.

The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states.

This year, set a financial goal to work your way toward financial security. Your goal can be small initially, such as paying off one credit card. Later, you can grow that goal to something like being a millionaire by retirement age. Setting a goal gives you something to work toward. It also allows you to outline specific steps that you will follow in order to get there. Both are important steps toward improving your financial situation.

Don’t bother with store credit cards in 2012. Store cards have a bad cost/benefit calculation, and recent history has shown that people who overuse their credit cards suffer during recessions. If you pay on time, it won’t help your credit all that much, but if a store account goes to collections, it will impact your credit history just as much as any other default. Get a major credit card for credit repair instead.

Be frugal with your personal finance. While having a brand new car sounds tempting, as soon as you drive it off the lot it loses a huge amount of value. Often times you can get a used car in good if not better condition for a much lower price. You will save big and still have a great car.

It is a very scary and real thought to think that when you really need your money, you may have none left. Don’t take this article lightly. Being broke is a nightmare that you can prevent. Take what is given to you in this article, and make sure you don’t find yourself in that situation.

Prepaid card program managers of Mercator have made distribution their top priority. Mercator Advisory Group’s Consumer Prepaid Distribution Strategies examines the methods available to prepaid card program managers as they seek out new outlets and markets

The report focuses on how closed-loop gift card business approaches distribution, given that retailers have led the way with in-store and online distribution channels. Understanding these channels will provide clues for prepaid card managers in all segments to find new outlets for their cards. 

With this report, they can look forward to facilitate the dispersal scheme that is being utilized for open-loop cards.  The dissemination technique includes business and technological developments while the report covers the present state of the digital card market.

“Due to thin margins, prepaid programs depend on volume for profitability. So, getting cards into many hands is critical to success.” -  Ben Jackson Senior Analyst Mercator Advisory Group Prepaid Advisory Service

Program managers, whether handling open-loop or closed-loop cards, have a variety of distribution options. Understanding those options requires a grasp of both business and technology considerations, “he added.

The prepaid industry cannot afford to ignore any distribution channel. Among the main components of the report are the eight main avenues for allocation. These have remained significant despite the changes mandated by the government in the rules implementing the CARD Act of 2009.

It also features the findings from Mercator’s Customer Monitor Survey regarding card buyer’s channel preferences, new ways technology advances offer to sell cards to customers and the trends of retailer and consumer adoption. As well as the business and technological considerations distribution plans need to factor into the mix.

Visit Mercator online at www.mercatoradvisorygroup.com.

- gold cycles are bottoming, and we might see a rise to $2120 per ounce, but not much more

- expect a low in the US Dollar in March and April of 2012, after which we will see a multi-year bull market for the dollar

- the Aussie dollar should be bottoming within these two weeks

The U.S. Bank Auto Buying Service (www.usbank.com/autobuying) gives access to a virtual one-stop shop where shoppers finding their preferred car, preferred pricing range, and preferred choice of payment plan is a click away.

This new online service guarantees shoppers upfront pricing for new and used cars from more than 5,000 certified car dealers nationwide.

“The U.S. Bank Auto Buying Service gives our customers a fast, predictable and hassle-free shopping experience, with a direct connection to financing information so they can take action if they find the perfect vehicle,” said David Herpers, U.S. Bank vice president of consumer credit products.

The U.S. Bank Auto Buying Service is powered by TrueCar, the online database that gives consumer comparative pricing list for new and used cars.

Car dealers certified with TrueCar are obligated to uphold a transparent car pricing scheme to give shoppers the opportunity to compare prices prior to a meeting with the car dealer.  It is aimed to save shoppers the time and eventually the money.

U.S. Bank continues to be one of the country’s top auto-lenders with zero down payment, low interest rates, low payment rates, flexible repayment terms, and same-day credit decisions. It finances new cars as well as light trucks.

Meanwhile, the U.S. Bank Green Auto Loan can give a 0.50% rate reduction on vehicles certified as SmartWay by the Environmental Protection Agency (EPA).

Bank of America co-chief operating officer David Darnell announced foregoing the monthly debit card fees November 1 after irate consumer Molly Katchpole of Washington, DC started an online petition calling for the bank to cease its unnecessary monthly charges.

America’s largest bank had to cancel the additional $5 charge when more than 300,000 consumers supported Katchpole’s petition on www.change.org calling to “reject any claims that this latest fee is somehow necessary.”

“The American people bailed out Bank of America during a financial crisis. You paid zero dollars in federal income tax last year. And now your bank is profiting, raking in $2 billion in profits last quarter alone,” Katchpole reminded Bank of America officials.

“How can you justify squeezing another $60 billion a year from your debit card customers? This is despicable,” Katchpole added.

Katchpole’s petition snowballed and Bank of America’s extra $5 fee for debit card usage was short-lived, which was first implemented late in September.

“We have listened to our customers very closely over the last few weeks and recognized their concern with our proposed debit usage fee,” Darnell said in a statement.

“Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so,” Darnell added.

Bank of America earlier defended its new policy. It claimed that the minimal $5 fee will help regain revenue loses with the passage of the Dodd-Frank Financial Regulation Bill, where its revenues in debit-swipe transactions were cut in half.

The vigilance of Katchpole and the more than 300,000 consumers online finally ended new bank policy that was also supposed to be replicated by Wells Fargo & Co. and J.P. Morgan Chase & Co.

Bank of America has already started charging its debit card users $5 monthly fee since September while Wells Fargo & Co., J.P. Morgan Chase & Co. are also thinking of following suit.

Financial analysts explain the extra fee is designed to regain lost revenues due to new federal regulation, where it slashes half the amount of money banks gain from debit-swipe transactions.

The Dodd-Frank Financial Regulation Bill is only applicable to banks with assets exceeding $10 billion and the banks are estimated to lose $6.6 billion in revenues per year.

If you’re not too sure if you’re bank is charging hidden fees for debit card services, check with your local bank manager to find out.

If indeed your bank is charging you, analysts suggest looking for an alternative in smaller thrift banks that are not affected by the new federal regulation. There are still smaller thrift banks that offer the services for free.

Debit cards have long been the alternative against drowning in debt with credit card usage. But with this new scheme, it practically defeats the purpose, while adding more financial burden on your part.

The move by the SBA is a result of the drought and excessive heat that hit the state last April. Some 44 counties of South Carolina are included in the SBA benefit allocation.

“If the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the SBA grants immediate assistance to qualified entities affected by the calamity,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to farm-related and non farm-related entities that suffered financial losses as a direct result of the catastrophe. With the exception of aqua-cultural enterprises, agricultural producers, farmers and ranchers are not entitled to apply for the grants.

However, nurseries can still apply for the EID loans for losses due to the effects of the drought.

The loan amount can be up to $2 million with interest rates of 3 percent for private non-profit organizations of all sizes and 4 percent for small businesses. Term payments can be extended up to 30 years.

The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are also set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

Disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 800-659-2955 or 800-877-8339 for deaf and hard-of-hearing individuals from Mondays to Fridays.

You can also send an e-mail to disastercustomerservice@sba.gov. Loan applications can be downloaded from www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. Those affected by the disaster may also apply for disaster loans electronically from SBA’s website at https://disasterloan.sba.gov/ela/.

Citibank For Ipad

Online banking with Citibank is now accessible in your own iPad.

The recent launching of Citibank for iPad has raised the benchmark for online banking with fast, reliable, and secured way of tracking and analyzing your finances.

With Citibank for iPad, gone are the days of the old-fashioned style of ledger banking.  In this first-ever app of a major American bank, a visual and graphical interface of your finances is at your fingertips.

You can easily check your account balances, transfer money, control cash flow, pay bills, acquire rewards, or find the nearest Citibank branch and ATM booths.

What differentiates Citibank for iPad from other banking apps is that it maximizes the tablet interface of iPad with its fresh and visually striking graphics as well as an interactive approach to online banking.

Unlike other banking apps for iPad that mirror the PC or mobile phone interface, the Citibank app takes advantage of the unique tablet experience to provide users with a visually revealing, insightful interface along with a host of interactive new features.

Citibank for iPad is the by-product of Citibank listening to your online banking needs.

“We want this to be more engaging and dynamic—beyond the standard static tables you find with other iPad apps,” said Tracey Weber of serves as the chief of the Internet and Mobile Banking for North America Consumer Banking.

Citibank for iPad offers these unique features:

• Interactive chart of past and future cash outflows
• Auto-generated chart of personal spending habits
• Consumer databank for comparing personal spending habits by age and income brackets, location, and types of purchases

With Citibank for iPad, you also have access to exclusive services including Citi Personal Wealth Management and Women & Co. and real-time customer service.

Banking with Citibank has never been this easy.