THE BLOG

24
Jun

Payday Loan Store-Front Businesses: More Ammunition

OETA did a piece on the Oklahoma payday loan industry. In the video, the DA makes the statement that he would prefer store-front payday loan lenders be allowed in the state with some restrictions rather than outlaw the industry and force Oklahoma payday loan consumers to solve their financial challenges with Internet companies. 13% of Oklahoman’s have gotten a payday loan in the past 5 years.

The content of the video makes many derogatory references to tribe payday loan companies, emphasizes the few complaints received by the BBB regarding Oklahoma payday loan stores, and includes several interviews of real-world payday loan customers. These interviews confirm that the payday loan product is not without its controversies BUT does meet a real need in the market place of financial choice.

20
Jun

Payday Loan Job Opportunities and Portfolio Available

We have 4 job openings ($100k – $225K+) and one turn-key/loan portfolio available. All are in the payday loan space. ALL are urgent!

Your initial point of contact will be Jer@TrihouseConsulting.com 702-208-6736. If you’re a potential match meriting further exploration, I’ll setup an intro and “get out of the way.”

#1) Online PDL Portfolio Manager

– Lead analysis
– Loan analysis
– Underwriting
– Metrics for collections
– Co-ordination and management of lead traffic.
– Financial Reporting
– Meet company goals and growth.
– Overall company manager.
– Manage compliance and regulations
– Experience in online business
– Must be able to relocate to South Eastern U.S.
– Salary will be based on experience and job history. Bonus on performance…

Think you’re qualified? PDLPortfolioMngr1@PaydayLoanIndustry.com

#2) Senior Enterprise Risk Officer:

– Evolve and execute credit strategy. Hands-on involvement with building credit, profitability, and collectability models using SAS and other analytical packages.
– Coordinate directly with Legal, Compliance and Operations to minimize exposure to fraud and regulatory issues
– Analysis and performance metrics for loan portfolios.
– Complete ad-hoc data studies for scorecard validation, test new data sources. Document, studies and publish results with specific findings and recommendations.
– Maximize the success of existing data sources. Identify innovations. Identify policy and operational improvements.
– Provide technical leadership to the Team. Translate high-level business needs into analysis. Deliver actionable results in a short time frame.
– Compose detailed research reports for senior management review to set goals, forecasts, processes, measurement tools and structure.
– Identify opportunities to differentiate Client from competitors.
– Research, ID, and evaluate new credit bureaus and data verification sources.
– Assist with negotiations and contracts with vendors.
– Monitor the competitive landscape and adjunct businesses and models to ID new opportunities.
– ID strategic acquisition targets in North America and the UK.
– Midwest Relocation likely

Interested? EnterpriseMngr2@PaydayLoanIndustry.com

#3) Portfolio/Turn-key Online PDL Operation

– $300K Portfolio for sale (Doesn’t include any bad debt over 90 days which is with an agency.)
– Delaware choice-of-law model
– Building customer database since 2008; nearly 40K borrowers. Customer/contact info/data updated regularly. Export all of them easily and sort   in excel various ways.
– LMS in place is a well recognized, “off-the-shelf vendor.
– Well branded, compliant, mature turn-key website in place

Interested? Portfolio3@PaydayLoanIndustry.com PLEASE! Don’t waste our time; yours or mine! This is not a desperate situation.

#4) Online PDL Operations Manager

– Hiring staff
– Scheduling
– Training
– Supervising CSR’s and call center Supervisors
– Manage collections staff
– Manage retention staff
– Recruitment
– Must be able to relocate to South Eastern U.S.
– Salary will be based on experience and job history. Bonus on performance…

Think you’re qualified? PDLOperationsMngr4@PaydayLoanIndustry.com

#5) Experienced Data Analytics Person.

– Pay based on experience – generous profit share possibilities.
– Management of CSR’s outside the scope of this job.
– Skills needed- Highly experienced with  risk management modeling, underwriting and score card development.
– Prefer knowledge of multiple lending models including offshore, tribal and choice of law.
– Access to capital is not an issue- current companies completely self funded.
– We have been in AFS space 15+ years
– Relocation to one of our in-house facilities desired (Mid-West
– Looking for someone with a proven track record of success

Think you’re qualified? DataAnalytics5@PaydayLoanIndustry.com

That’s it. Interested? Respond above or call Jer 702-208-6736 . Need help with your recruitment project? Contact Jer@TrihouseConsulting.com . DISCREET!!!!

19
Jun

Sosa Brothers: Mango Finance and Netspend Debit Cards

If you’re in the AFS space, you must be aware of The Sosa Brothers. Their story about their launch of Netspend and their follow-up, Mango Financial is fascinating. These 2 Sosa Brothers – Netspend/Mango Financial videos have been around for a while but if you somehow missed them, take a few minutes…
Netspend:

Mango Finance

15
Jun

Western Sky Ordered to Cease Payday Loans in Maryland

Western Sky Financial Payday LoansBy Jer  with Trihouse Consulting ~ The tribe payday loan business model has been around since at least the late 1990’s. In the “early days,” individual tribe members collaborated with lenders to circumvent state and province usury and licensing requirements. Although this rendition of the tribe sovereign model is no longer employed, there still remains outstanding litigation and regulatory challenges that continue. The Martin Web and Western Sky controversies are part of this ongoing story.

Western Sky has always described itself as “wholly owned by an individual member of the Cheyenne River Sioux Tribe;” not by the tribe or any of its political subdivisions. It refers to itself as a Native American-owned business operating within the exterior boundaries of the reservation, a sovereign nation within the U.S.

Western Sky Financial, “located” on the Cheyenne River Reservation Timber Lake, S.D., has said it was not required to follow Maryland law because of tribal immunity, according to the Maryland Department of Labor, Licensing and Regulation.

The Maryland labor department’s Division of Financial Regulation said Thursday it has issued a final cease and desist order against Western Sky, its owner Martin Webb and other related parties. The order also prohibits the company from collecting or attempting to collect on any loans made to Maryland consumers. The company has the right to appeal the final order to Maryland Circuit Court, said Mark Kaufman, commissioner of financial regulation.

With the aid of Wall Street and sophisticated tribe legal counsel, the payday loan industry has evolved significantly since the early days of what was once referred to as “the rent-a-tribe model.” Much like the gaming industry, there are today, legal methods and strategies available that enable geographically challenged tribes lacking sophisticated resources to collaborate with “capital” and expertise in serving the millions of consumers who want and need small dollar loan products to help them solve their temporary, short-term financial challenges.

For more on this topic: Allen Parker at Consultants4Tribes.com  

13
Jun

Google Matt Cutts Discusses Payday Loan Searches

Google has “killed” a lot of payday loan lead generators and payday loan affiliates. Google’s Matt Cutts discusses this specifically here: Google PDL Searches A short video is included.