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One dollar can get you a large soda at McDonald's, a used VHS movie at 7-Eleven or a house in Detroi

Wednesday, 13 August 2008

The Detroit News reported:

One dollar can get you a large soda at McDonald's, a used VHS movie at 7-Eleven or a house in Detroit.

The fact that a home on the city's east side was listed for $1 recently shows how depressed the real estate market has become in one of America's poorest big cities.

And it still took 19 days to find a buyer.

The sale price of the home may be an anomaly, but illustrates both the depths of the Foreclosure crisis in Detroit and the rapid scuttling of vacant homes in some of the city's impoverished neighborhoods.

The home, at 8111 Traverse Street, a few blocks from Detroit City Airport, was the nicest house on the block when it sold for $65,000 in November 2006, said neighbor Carl Upshaw. But the home was foreclosed last summer, and it wasn't long until "the vultures closed in," Upshaw said. "The siding was the first to go. Then they took the fence. Then they broke in and took everything else."

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Specialized firm aims to connect servicers and borrowers by performing field outreach campaigns

Wednesday, 06 August 2008

MarketWatch.com reports:

ALISO VIEJO, Calif., Aug 05, 2008 /PRNewswire via COMTEX/ -- ModCo LLC, a California-based company seeking improved communications between servicers and borrowers, has launched ModCo Solutions, a new division created to help Mortgage Servicers cope with increasing foreclosures and changes in Mortgage Servicing laws. ModCo Solutions puts servicers and lenders in Direct Contact with borrowers, employing Loss Mitigation strategies and Field Services with a preemptive approach to default servicing. As foreclosures reach record levels, the firm seeks to provide the infrastructure for servicers to meet existing and new servicing regulations and reach out to more troubled borrowers before Foreclosure is the only option.

See the story here

Good Bye Fidelity National Information Services

Thursday, 03 July 2008

HOUSINGWIRE says good-bye to FIS and announces LPS Those with any history in the

Mortgage Servicing business, or capital markets, likely know the name Fidelity

National Information Services (FIS: 37.25, 0.00%) — the FIS logomark has been a mainstay at numerous industry events during the past five years, with the sprawling mortgage services company providing nearly every technology and service imaginable to pretty much every facet of the mortgage industry. Read the story at http://www.housingwire.com/2008/07/02/a-new-era-starts-for-fidelity-nationals-mortgage-services-business/

New Orleans Investigates Unsecured Pools

Thursday, 12 June 2008

Michelle Krupa of The Times-Picayune in New Orleans reported today: Following the drowning death last month of a 7-year-old boy in an abandoned pool in eastern New Orleans, city inspectors have fanned out to investigate nearly 1,000 reports of uncovered, unfenced pools at vacant properties across the city. Aides to Mayor Ray Nagin told the City Council's Recovery Committee on Wednesday that they dispatched housing code and environmental inspectors last week to check 114 properties where neighbors had complained that pools at unoccupied homes posed a danger. Inspections will continue as officials turn their attention to 800 pools catalogued by the city's Mosquito and Termite Control Board as havens for insects, said Jeffrey Thomas of the Office of Recovery and Development Administration. See the full story at: http://www.nola.com

Competition vs Cooperation

Saturday, 22 March 2008

On March 11, 2008, Maxim Enterprises was presented with an award. It was our first time receiving the NEO Success Award, an award for “top performing” companies in Northeast Ohio. We had taken ten of our employees to this event to celebrate this award. Now mind you, this was a luncheon award ceremony and we are pulling ten people away from their work on company time. We currently have a staff of forty people and about twenty five percent would be out of the office attending this event. Moreover, this was the first event that more than two employees from Maxim would attended. Little did I know, this event would create a significant move in our corporate culture at Maxim.

After our delicious lunch, we heard a speaker deliver a quote that resounded with everyone at our table.“If you want your company to grow, compete, however, if you want your company to grow exponentially, cooperate.” This award ceremony was about successful companies and what can we continue to do to achieve success. Are you serious? Cooperate? Most of the time we worry about our competition and talk about who we have to compete against. The more I kept repeating the quote in my head, the more I started to agree with the speaker. Maxim Enterprises has been competing in business now for ten years and has been growing rapidly. However, after ten years I have realized that competing will only take you so far, especially in a highly competitive price structure. No don't get me wrong, I believe that competition is what fuels any great business. However, it is in how we compete with each other. Are we competing with our ethics and values in mind? Or are we competing with no ethics and values and just going thru the motions. I believe when people compete with ethics and values cooperation from everyone then comes into play. Thru this cooperation everyone then creates a win-win situation.