Fiserv’s Latest Venture to Create Growth and Opportunity

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago bret leech charles sutherland Fiserv HOUSING mortgage warburg pincus 2018-02-07 Rachel Williams February 7, 2018 3,436 Views Tagged with: bret leech charles sutherland Fiserv HOUSING mortgage warburg pincus Previous: Northsight Management Finalizes Merger with Truly Noble Services Next: David Stevens Says Farewell About Author: Rachel Williams The Best Markets For Residential Property Investors 2 days ago Related Articles Rachel Williams attended Texas Christian University (TCU), where she graduated with Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa, widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at [email protected] Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Fiserv’s Latest Venture to Create Growth and Opportunity Bret Leech, President of Lending Solutions, FiservCharles Sutherland, VP Product Management & Strategy, Lending Solutions at FiservDS News sat down with Bret Leech, President of Fiserv Lending Solutions and Charles Sutherland, VP Product Management & Strategy, Lending Solutions at Fiserv during the National Mortgage Servicing Conference and Expo 2018 on Wednesday to discuss how the company is currently creating better growth opportunities for both clients and borrowers.Fiserv, Inc. is a global provider of financial services technology solutions, and the company announced on Wednesday a newly formed joint venture with Warburg Pincus, LLC, a global private equity firm focused on growth investing.Driven by Leech and Sutherland, the new venture is expected to create value for current and future clients by partnering closely with Fiserv for seamless delivery of account processing, integrated billing and payments and LoanComplete solutions, and through Warburg Pincus’ demonstrated expertise and track record in growing financial technology businesses of scale.According to the company’s announcement, the definitive agreement with Warburg Pincus is pursuant to which funds affiliated with Warburg Pincus will acquire a 55 percent share of the Lending Solutions business of Fiserv. Fiserv will receive approximately $395 million in net after-tax proceeds and retain a 45 percent equity interest in the business.The transaction, which is subject to customary closing conditions, is targeted to close in the Q1 2018.DS // What impact is Fiserv’s new venture going to have on the market? Leech // We think about it from our borrowers and clients perspective. For us, we’re pretty excited about the growth and opportunity that it means. We’re really taking the best of Fiserv and adding a great partner, Warburg Pincus, who has a terrific track record of really growing the markets they are involved with. Ultimately, we see that as an opportunity to do better by our clients and help them do best for their borrowers.DS // How did Fiserv and Warburg Pincus begin this partnership? Leech // Warburg Pincus is a global private equity firm, and we’ve known them for many years. About a year ago we started thinking, “Hey how can we accelerate what we’re doing in the marketplace?” We’re really honored to work with the clients we have, we have a great list of clients, but we wanted to make sure we were doing even more for them.So as we started to go out into the market and chat with different folks, we found Warburg Pincus as someone who aligned with the vision that we had and the growth opportunities that we saw in the market and decided to partner with them. Warburg Pincus has done this time and time again and has a history not only in the market broadly but also in the space that we operate in.DS // What else is on the horizon for Fiserv? Leech // As a firm, we are committed to the path we’ve laid out for our clients and excited to talk with them about new ways that we can grow that even faster. So for us, time with the clients is always number one, we are definitely client focus in how we approach the market, we believe that understanding their needs and ultimately the borrowers will set us all up well for success. The job for us is similar as it was the other day, just at a faster pace. Let’s get with our clients, continue to communicate with them and make sure we have great alignment when it comes to our roadmap, both with existing clients and some with the potential that we are chatting with. Demand Propels Home Prices Upward 2 days ago Subscribe in Daily Dose, Featured, News, Servicing, Technology Fiserv’s Latest Venture to Create Growth and Opportunity Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily last_img read more

It’s showtime for CHHS musical

first_img The Penny Hoarder Issues “Urgent” Alert: 6 Companies… Next UpTickets to “Seussical the Musical” are $10 and may be purchased at the school and will be available at the door if the productions are not sold out.Judith Park, CHHS drama teacher, said the musical production is a fun and energetic show and is enjoyable for all ages.“‘Seussical the Musical’ consists of a compilation of Dr. Seuss characters and stories,” Park said. Park said the cast and crew have worked really hard getting ready to take the stage. They are excited about the show and looking forward to tonight.“Family and friends and the entire community are invited to come see the show and support the cast and crew,” Park said. “Please come out and support the Troy City Schools’ performing arts.” It’s showtime for CHHS musical Pike County Sheriff’s Office offering community child ID kits Sponsored Content Troy falls to No. 13 Clemson Published 9:06 pm Wednesday, March 2, 2016 You Might Like The Virtuoso: ‘He lost his sight but not his vision’: Acclaimed pianist honored at Helen Keller Lecture series Messenger photo/Jaine TreadwellPianist Marcus Roberts was the guest lecturer and performer at the Helen Keller Lecture Series at Troy Unviersity… read more Latest Stories Plans underway for historic Pike County celebrationcenter_img By The Penny Hoarder Remember America’s heroes on Memorial Day Email the author CHHS drama students will perform “Suessical the Musical” at 7 p.m. today, Friday and Saturday. Tickets are $10 each and are available at the door.Students at Troy Elementary School previewed “Seussical the Musical’ Wednesday and, if the responses of the students is any indication, the Charles Henderson High School production will be a smashing success.The CHHS Drama Department performed the musical at 9:30 a.m. and 1:30 p.m. at TES and if tickets had been sold, both performances would have been “sold out.”“Seussical the Musical” opens to the public at 7 p.m. today at the Charles Henderson High School Cafetorium and will also be performed at the same time Friday and Saturday. By Jaine Treadwell “The main storyline is of Horton the Elephant saving the small planet of Who, which is dangerously floating around on a dust speck. The play encourages people of all ages to embrace their imagination or as Jojo calls it, ‘big thinks!’”“It’s over the top and eccentric. The characters are make believe and that has made it fun for the cast because it gave the students a break from realism for a while. It also gave them an opportunity to explore the silly style of children’s musical theater.”The musical is filled with catchy music that will have members of the audience tapping their toes and, maybe, even wiggling their ears.“This fun and energetic show is a joy for all ages,” Park said. “Come watch as Horton saves Jojo and The Who’s with some help from Gertrude, Mayzie, the Bird Girls, the Wickersham brothers, and the Sour Kangaroo. All of the favorite Dr. Seuss characters and stories are mashed into one hit musical. “It’s fun for the cast and fun for the audience.” Book Nook to reopen Print Article Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthGet Fortnite SkinsTCGThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

Legal loophole costs U.S. government $18B in offshore oil and gas royalties

first_imgLegal loophole costs U.S. government $18B in offshore oil and gas royalties FacebookTwitterLinkedInEmailPrint分享S&P Global ($):U.S. taxpayers have missed out on tens of billions of dollars in revenue from offshore federal leases due to a decades-old law on royalty payment exemptions and due to faulty methods of determining minimum acceptable bids, a government report showed.The Government Accountability Office study released Oct. 24 found nearly $20 billion in offshore oil and gas revenues has been lost since the signing of the Deepwater Royalty Relief Act of 1995, which was enacted to encourage drilling of leases in the Gulf of Mexico.At the time, oil companies were offered a temporary break from paying royalties on oil produced from leases that were uneconomical at crude oil prices below a certain threshold, but the temporary reprieve was made permanent when the industry won a suit claiming that the law was written to guarantee royalty reductions regardless of the price of oil.“[The result is an approximate] $18 billion in foregone royalty payments between 2000 and 2018, a number that will continue to rise,” U.S. Reps. Raúl M. Grijalva, D-Ariz., and Alan S. Lowenthal, D-Calif., said in a joint statement. Grijalva is the chair of the subcommittee on Energy and Mineral Resources.The GAO also found the method for determining minimum acceptable bids for offshore oil and gas leases does not ensure a fair return, which has cost U.S. taxpayers another $1 billion or more since 2000.“This is not a fair or free market,” Grijalva said. “Our laws and standards need to reflect the fact that public resources are there for the benefit of the public.”Production of oil and natural gas from leases on federal waters accounts for more than 50% of the oil and gas production on federal lands and waters. From 2006 through 2018, the U.S. government collected almost $90 billion in revenue from the management of offshore oil and gas resources generated primarily through upfront cash payments, or bonus bids, for leasing rights to explore, develop and sell oil and gas resources, and royalty payments as a percent of the value of oil and gas produced.More: Loophole has cost U.S. Government $18B in offshore royalties, study findslast_img read more