A self-help organization in Albany called Nxivm has begun to unravel as members reveal disturbing practices and fears of blackmail.
NYS Entity Status
NYS Filing Date
NOVEMBER 20, 2013
NYS DOS ID#
NYS Entity Type
FOREIGN LIMITED LIABILITY COMPANY
2013 - NORTH SHORE MORTGAGE OPPORTUNITY LLC
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North Korea’s accelerating military advances — and President Trump’s volatile response — could complicate Japan’s close alliance with the United States.
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The gift from Arthur J. Epstein will support North Shore's plan to build a $207 million behavioral health center in Salem, Massachusetts....
- Big Data tells mortgage traders an amazing amount about you
By Matt Scully - Friday Jun 30, 2017
The New York startup sucks in data from marketing firms, public loan filings, courthouses and dozens of other sources, and sells it to mortgage bond and loan traders.The vivid detail the company turns up — the types of stores borrowers tend to shop at and whether they rent out their homes on Airbnb, for example — may unsettle privacy advocates, but it’s a boon for investors trying to figure out how likely homeowners are to pay their obligations.Across the world of finance, startups are using big data to try to improve Wall Street’s success with everything from consumer lending to stock trading.The average fund manager can gain 0.4 to 0.7 percentage point of return by using more intelligent data when trading mortgages, at least for home loans that haven’t been bundled into securities, according to John Ardy, CEO of Resitrader, an institutional marketplace for home loans.“We’re concerned about how this information is shared, and how it can have adverse consequences for individuals without their even realizing it,” said Lee Tien, a senior staff attorney at the Electronic Frontier Foundation, a nonprofit focusing on civil liberties.[...] money managers using information they get from TheNumber could face accusations of discriminating against borrowers based on race or religion if it turns out the factors the company looks at tend to single out particular types of people, said Frank Pasquale, a professor at the University of Maryland’s Francis King Carey School of Law.Fund managers that use TheNumber are typically buying subprime mortgages, many of which have defaulted.TheNumber tries to determine how much pride a homeowner probably has in his or her property, based on information it gleans from third parties, such as whether the resident tends to click on online ads from home improvement and gardening stores.Experian, for example, tries to make sure investors can’t readily determine borrowers’ identities when it hands out mortgage data, said Michele Raneri, a vice president of analytics and new business development at Experian.Added information about borrowers could boost transparency in the mortgage bond market, where getting information about creditworthiness and prices can be much harder than in other debt markets.“Investors in every other market get to see what they are buying — but not mortgage bond investors,” said Adam Murphy, founder of Empirasign Strategies LLC, a trading data firm for mortgage bond professionals.
- Nonbank lenders surging in California mortgage market
By Kathleen Pender - Tuesday Jul 12, 2016
Nonbank lenders surging in California mortgage marketThe number of home loans originated in California by nonbank lenders soared last year to 537,757, up 47.3 percent from 2014, according to a report issued Monday by the California Department of Business Oversight.The principal amount of mortgages originated in the state by nonbank lenders last year grew 56.7 percent, to $179.3 billion.Nationwide, the principal amount of nonbank mortgage originations grew only 43.9 percent between 2014 and 2015, according to Guy Cecala, publisher of Inside Mortgage Finance.The California department regulates nonbank lenders, meaning those that do not accept insured deposits to make loans, like traditional banks do.The department could not say how much of the growth in nonbank mortgage lending came from an increase in the underlying loan market and how much from nonbanks taking business from banks.Nationwide, however, nonbanks have been taking big chunks of market share from banks.In the first quarter of 2016, the nonbank share of U.S. originations was 48.3 percent.“Banks are pulling back from certain types of mortgage lending due to settlements (with government agencies) and enforcement actions,” Cecala said.Banks are still dominant in jumbos, but it’s only 20 percent of the market.The other 80 percent, they are reducing, and that is giving an opening and the nonbanks are stepping in to fill that void, Cecala said.Nonbanks typically borrow money from investors or banks to make loans, then quickly sell these loans to Fannie Mae, Freddie Mac, banks and other buyers, so they can repay their loans and start the process over again.Banks also sell loans but hold onto some of them.Many banks and nonbanks continue to service loans they sell for a fee.Servicers collect payments, forward them to the new loan owner and take action when borrowers fall behind.“Mortgage lending has pretty thin profit margins,” said Keith Gumbinger, a vice president with mortgage information service HSH Associates.Nationwide, San Francisco’s Wells Fargo was still the nation’s largest mortgage lender in the first quarter of this year, with 11.4 percent of the market, but that was down from 28.2 percent in the first quarter of 2012.Chase was number two in the first quarter, followed by Quicken Loans, the largest nonbank lender nationwide, according to Inside Mortgage Finance.Quicken Loans was also the largest nonbank lender in California last year, according to the department.Kathleen Pender is a San Francisco Chronicle columnist.Top nonbank lendersCalifornia mortgages by nonbank lenders in 2015Quicken LoansPinnacle Capital MortgageUnited Shore Financial ServicesCalifornia Department of Business Oversight
- Officer's death intensifies scrutiny of herbal supplement
By MARY ESCH, Associated Press - Saturday Sep 30, 2017
ALBANY, N.Y. (AP) — Matt Dana was known around the Adirondack Mountain town where he grew up as a promising young police sergeant who worked hard to root out narcotics dealers. So it came as a shock to friends and co-workers when he died suddenly this summer and an autopsy attributed it to an overdose.It wasn't from drugs, but from kratom, an herbal supplement sold online and in convenience stores, gas stations and smoke shops."It was the talk of the town. People were upset it was reported as an overdose," said Paul Maroun, mayor of Tupper Lake in the central Adirondacks 110 miles northwest of Albany. "It's not an illegal drug.