Non-Conforming IS RETURNING!
After a several year focus on industry training and education, Company Chairman & CEO Peter Samuel Cugno is excited to announce the Company and his return to operations in what will become the all new non-prime industry standard of operating. "The historical timing of returning to the wholesale non-prime lending world, couldn’t be better," Peter said this morning. "Raising the necessary Capital, going through the needed paperwork for proper Nationwide licensing and all the rest that’s essential to beginning a new venture like this should take less than four months before the Grand Opening.
"Those of you in the business who remember what subprime was like before the Russian Rebel financial crisis and it’s cause of a major mortgage industry correct during the Fall of 1998 – you have an excellent vantage point and watched how reckless non-conforming became in the following decade; a foolish approach we will not engage in". Mr. Cugno continued, "we’ve got several all new twists and turns the third party originators will just love".
I read with great interest the article in the National Mortgage News about you getting back into the subprime lending channel. I would LOVE
to explore the opportunities of joining your firm in the cpacity of a wholesale account rep. I live in Marylane and have been in the mortgage business for the last 10 years, and have seen this industry change drastically in this time frame. I know that their is a large segment of borrowers who are not currently able to get mortgage loans because of the swift and drastic changes in underwriting requirements. This under served group of people need a viable source to obtain financing and I would very much like to be a part of something of this nature. I hope to get an opportunity to speak with you. 410-878-7402
Comment by Dan Dahl — June 11, 2009 @ 6:53 am
Nice speaking wth you Dan, we’ll stay in ouch !
Comment by Secret! — June 11, 2009 @ 9:13 am
Peter,
Wondering how things are progressing with your new venture ?I want to stay in the loop and hopefully be part of something new and dynamic down the road. Please give me an update ,
Comment by Dan Dahl — July 8, 2009 @ 3:49 am
I plan on posting a blog update later today Don, thanks for your interest!
Comment by Secret! — July 8, 2009 @ 8:53 am
Anything new happening with this venture ?
Comment by Dan Dahl — August 3, 2009 @ 4:05 pm
LOTS going on Dan, taking my second visit this afternoon to the proposed hearquarters building nearby – more than likely going to make an offer on it today. Interviewing Accounting & IT department heads this week as well. Once the venture capital money is deposited in the bank, then we’ll jump at WARP Speed!
Stay tuned :-}
Comment by Secret! — August 4, 2009 @ 8:39 am
Tuning in, how is this venture progressing ?
Comment by Dan Dahl — September 1, 2009 @ 8:56 am
Peter can you provide me with any insight on your
B-C loan project. Have not heard from you recently and want to see how you are progressing.
Comment by Dan Dahl — September 10, 2009 @ 9:02 am
Still negotiating with investment bankers and others both for a secondary market play (before the MBS market is fully back), plus the investor/equity partner pieces as well. EVERYBODY I know tells me everyday, I gotta be nuts trying to do this, in this economic climate … but each day brings new hope :-}
I’M STAYING POSITIVE
Comment by Secret! — September 10, 2009 @ 9:42 am
I saw your add for investors in The Mortgage Daily news. Are you finding any interested parties ? Is this eventually going to get off the ground ?
Comment by Dan Dahl — October 9, 2009 @ 2:50 pm
Well Dan I’m happy ’somebody’ saw it! To answer your question, I’ve found several investors who are willing to be the SECOND one to do this, but non yet who have any sort of a pioneering spirit — financial times are very difficult. So far, I’ve spent more than 4 months trying to find this equity investor/partner – this has been the most difficult task I’ve attempted in my 4 decade career in the industry! It WILL happen and is taking WAY too long … but have faith :-}
Do YOU wanna have me hand you Fifty Grand in small unmarked bills – inside a brown paper sack? Find me the funding source, and get them, to fund my opportunity! SERIOUSLY
Comment by Secret! — October 10, 2009 @ 12:19 pm
Happy New Year ! How has your funding expedition been going ? Any progress yet on this, I can tell you the market certainly needs it !
Comment by Dan Dahl — January 5, 2010 @ 12:28 pm
Happy New Year Dan. I’m still smashing my head against a brick wall — No Luck so far tracking down a potential equity partner/investor. BUT, check out my blog post from today … ya never know!?
Comment by Peter — January 6, 2010 @ 8:10 am