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James McMahonPresidentJM Bear Advisors

FICO vs. Vantage Consumer Credit Scores - Where We Have Been & Where we are Now

May 18, 2009

Analysis of:Consulting Management Platform | www.financialexpress.com

1. The history of the evolution of the importance and use of consumer credit scores is explored. 2. The launch of the new Vantage consumer credit bureau scoring models in 2006 by the three major credit bureaus, Experien, TransUnion and Equifax has created a new dynamic. 3. What has been the impact on the use of either or both score models within the lending market? 4. Has the new Vantage score made a huge dent in the use of the current market king, FICO score or has the use or acceptance of Vantage score been a slow and measured process?

James McMahonPresidentJM Bear Advisors

Loan Information & Data Verification Processes Back In Vogue - Lessons Learned

May 13, 2009

Analysis of:Consulting Management Platform | www.financialexpress.com

Prior to late 2007 verification of loan applicants income, employment, address, social security number and any other information critical to the loan underwriting process. Due to the significant issues within the mortgage market during this most recent credit meltdown that were caused by subprime mortgages, stated income, no or low doc loans, Alt-A programs etc, it has been determined that almost 90% of the current delinquency and forclosures could have been prevented or mitigated by using "old fashoined" verificantion processes on loan appilcation integrity. Where do we go from here from a lessons learned perspective and what has been the effect on existing data verification companies and the creation of new companies in this space.

James McMahonPresidentJM Bear Advisors

Stress Testing Now Being Applied to Loan Underwriting Models

May 12, 2009

Analysis of:Consulting Management Platform | www.financialexpress.com

Just as stress tests have now been applied to the top banks. New stress tests or shock measurements are now being built into a number of consumer, business and commercial real estate automated loan platforms Regardless of being a small FI or a supoer regional or a national new loan underwriting variance or shck/stress testing parameters are being incorporated in vendor and proprietary loan models The end result is a more clear predictive laon recomendation or outcome that will establish worset case repayment senarios on a loan by loan. loan priduct and portfolio segmenation basis.

James McMahonPresidentJM Bear Advisors

Residential Mortgage Application Market Still Dominated By Fear

May 11, 2009

Analysis of:Abbey says mortgage market is set to grow | www.timesonline.co.uk

We are clearly at the trough of this cycle. Except for some speed bumps ahead which will all be different in size and lenght we have some time before we see a ramp up. Consumer skepticism in the existing and new housing market still dominated by consumer fears of job stabiity and housing prices.

Robert SethreChief Executive OfficerWoodford Group, LLC

VPRT - Putting the Pieces Together

May 4, 2009

Analysis of:VistaPrint Shares Rise on 1Q Earnings, Outlook | finance.yahoo.com

Vistaprint has defied the physics of the market over the past six months by posting healthy growth in revenue, margins and stock price. They have achieved this by targeting an unspectacular but profitable customer group (SMB), which is somehow appropriate given the fact that they are part of an unspectacular but profitable sector (printing and imaging). With a strong focus on what drives business for their selected customers, they have worked to expand relevant offerings and execute on promoting and fulfilling their products. So far, the results speak volumes about their strategy and implementation.