Bob Judge, partner at GLS, named amongst the 20 most influential
As published by Bob Coleman, the Coleman Report recently named Bob Judge
as one of the 20 most influential people in SBA lending for the year 2008.
GLS announces an innovative new product…Pool Pricing
Maybe it’s not that new in and of itself, but GLS is placing itself again at the forefront of the market in an effort to increase the pricing transparency in the SBA secondary market. GLS is now pricing all outstanding SBA pools on a monthly basis using its proven and defnesible valuation models.
GLS princiapls interviewed by Dow Jones News and CNN
Given GLS’ position as an independent expert, our opinion on the impact of the
stimulus packages and the TALF has been sought by mainstream media in an
effort to bring more clarity to the issues through unbiased information.
Bob Judge, partner at GLS, in American Banker and Wall St. Journal
As the need for information on the current state of the SBA market grows, so does the demand for input from GLS. Following the SBA’s annual conference in Palm Springs, Bob Judge returned home to requests for interviews from both the American banker and Wall St. Journal which Mr. Judge gladly accepted.
GLS co-hosts 1st ever Secondary Market Conference in NYC
Along with Bob Coleman, GLS co-hosted the first ever SBA secondary market conference in NYC on September 23rd and 24th. The landmark conference was very timely and brought together lenders, dealers, and investors to discuss current market conditions and collectively offer suggestions on ways to improve the marketplace for all participants.
GLS announces new product offering – Valuation of Mortgage Servicing Rights
Expanding on an already successful valuation business for government guaranteed servicing assets, GLS is now valuing mortgage servicing rights as well. Utilizing similar base methodologies to what is used to value government guaranteed assets, GLS provides a cost effective, accurate, and defensible model for valuing mortgage assets.
GLS Co-Presents at March Coleman Audio Conference
SBA industry experts Bill McGaughey and Bob Judge of Government Loan Solutions recently spoke at a Bob Coleman sponsored audio conference on understanding the importance of complying with FASB 157, and correctly valuing SBA Loan Assets. Mr. Judge has become a sought after commodity when it comes to understanding the complexities of dealing with the issue of how FAS 157 impacts bank accounting and risk management groups.
GLS to be featured presenter for upcoming NAGGL WEBExpress conference, January 24th
From the NAGGL website…”FAS 157’s definition of fair value emphasizes a market-based “exit” price. For SBA lenders, appropriately calculating and reporting net servicing rights at fair value in a volatile market is complicated. Join industry recognized experts Robert Judge (Government Loan Solutions) and William McGaughey (Temecula Valley Bank) to review how this accounting rule has created a new valuation environment for financial firms”.
GLS publishes featured article for November/December NAGGL In Focus Newsletter
Bob Judge of GLS recently published a featured article forNAGGL’s In Focus newsletter. The article, titled: FASB Statement 157 Has Arrived – Enhanced Guidance for Measuring Fair Value again demonstrated GLS’ position as an industry expert and source for reliable information regarding this important change in industry procedure.
GLS presents on Coleman Audio Conference, December 19th.
Along with industry experts Stuart Mitchell (Compass Bank) and Bill McGaughey (Temecula Valley Bank), Bob Judge of GLS lectured on the topics of understanding the importance of complying with FASB 157, calculating market based prepayment speeds and discount rates, properly calculating valuations, and preparing management for volatility in valuations under the new FASB directives.
FASB 157 is here!
With compliance required for the fiscal years beginning after November 15, 2007, all financial institutions must value the appropriate assets and liabilities based on a new definition of “fair value”, which puts an emphasis on the “exit” price. With regard to SBA lenders, those who sell the guaranteed portion of 7(a) loans must value their net servicing rights at fair value. Without a ready-market for servicing assets, this has been, and will continue to be, a difficult task. With the enactment of 157, each lender must take even greater care in attempting to value these assets based on the potential sale price.
Federal Register defines GAAP requirements for non-bank lenders
Excerpt from the Federal Register / Vol. 72, No. 210 / Wednesday, October 31, 2007 / Proposed Rules
“Finally, § 120.463, subsection (f), would require that SBA Supervised Lenders account for loan sales transactions and the valuation of loan servicing rights in accordance with GAAP. At the end of each quarter, assumptions used in the valuation would be reviewed by the SBA Supervised Lender for reasonableness in the existing environment. In evaluating the assumptions, the SBA Supervised Lender would be required to give particular attention to interest rate and repayment rate assumptions. Assumptions considered no longer reasonable would be required to be modified and reflected in the valuation and would have to be documented and supported by a market analysis. Under subsection (f), SBA could require an SBA Supervised Lender to use industry averages for the valuation of servicing rights, in lieu of any other assumptions found unacceptable by SBA.”
GLS a featured presenter at Coleman’s Valley Forge Conference
Bob Judge, of Government Loan Solutions recently gave a presentation at the Coleman East retreat in Valley Forge, PA. Bob’s presentation on Determining Fair Value under FASB 156 & 157 proved timely as auditor’s are looking even more closely at valuations as we approach year end reporting. Bob’s involvement at the conference didn’t end with his presentation on fair value. Given the current state of pricing in the SBA secondary market, Bob provided valuable insight into the reasons behind today’s pricing and what direction the market may be heading in over the near, medium, and long terms.
GLS does a joint presentation at the Las Vegas Naggl conference
Along with Bill McGaughey of Temecula Valley Bank, Bob Judge of GLS spoke on the topic of “Accounting for loans sold in the secondary market and the valuation of the resulting servicing assets in relation to FASB 156 and 157”. With year end approaching and auditor’s significantly increased sensitivity to proper valuation, this presentation offered timely and pragmatic solutions for any lender responsible for the accounting of sold loan production.
GLS client base expanding…
Over the last few months we saw a steady addition of new clients to our company including many very recognizable names within our industry. We are continuing to evolve to meet the demands of these clients as well as the needs of the marketplace as a whole.