Archive for November, 2012

Economy In Best Shape In 18 Months

November 29, 2012 Leave a comment

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According to a Bloomberg Global Survey, the economy is in its best shape in 18 months with China’s economy improving and the U.S. looking to avoid the fiscal cliff driving optimism and stock markets up globally.

Two thirds surveyed described the global economy as either stable or improving with Investors selecting  stocks and the equity market as the first choice of investments with real estate and the housing market and second for investment opportunities.

The U.S. came out on top for the eighth straight quarter when investors were asked which  where they saw opportunities for the next year with China coming in as second to the U.S. and Europe as the worst place for investing. China was fourth in September according to Bloomberg survey of subscriber traders, investors and analysts.

“U.S. companies have better profit potential, balance sheets and access to capital,” Christian Thwaites, a poll respondent and president and chief executive officer in New York of Sentinel Investment, which manages more than $27 billion, said in an e-mail.

Expectation  is that the U.S. will avert $607 automatic spending and tax cuts which is helping fuel the global optimism that  President Barack Obamaand Congressional leaders will reach a short-term agreement to avoid the fiscal cliff.

Commodities are down 18 perent from September according to the last survey and forcasted to be the attractive asset expected to perfrom well over the next with the worst being U.S. Treasury bonds which forty-eight percent holders intend to sell bonds over the next six months.

“The global economy is improving, recovering and healing, thanks to the U.S. and the emerging markets,” said Andrea Guzzi, a poll respondent and vice president of IST Investmentstiftung fuer Personalvorsorge, which manages money for Swiss pension funds. “More people are becoming wealthy, less and less are poor.”




China’s Cyber Assault on Brian Milburn’s Solid Oak Software

November 28, 2012 Leave a comment
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Brian Milburn gives us a rare look at the activities of Chinese cyber hackers committing corporate espionage to steal codes, take credit for new software,  and relentlessly  harass  and cyber attack a company and personal lives in efforts to stop a lawsuit.

Imagine  mobile and computer cameras spying on your personal and corporate life plus personal, corporate and related attorney’s emails and files on corporate servers accessed by the entity you are suing in court.

Milburn and his company Solid Oak Software lived a three year nightmare of their privacy being violated and crimes perpetrated  on his life and business with the blessing of the Chinese government.

Cyber hackers and  attackers  backed by the  Chinese Government on stolen software codes collapsed Brian Milburn’s Solid Oak Software business,   efforts to remedy eventually weakened his heath  and yet he did not back down during the three year legal  and cyber war.

University of Michigan researchers examined the code and verified  it  used to create internet babysitting software  touted by the Chinese Government  as their own which was the center of this corporate espionage

Retaliation, attack and harrasment began after Milburn publically accuse china of taking his parent filtering software called CYBERsitter and sued the People’s Republic of China where in three years he never once saw a lawyer, nor documents from China attorneys because they never filed one except one short request to have the case dismissed.

A one man battle unit  and without any assistance from any U.S. government agency,  he tried to stay one step ahead of the hackers endlessly making maneuvers to protect his network, swapping out servers, trying to determine middle of the night malfunctions and watching his sales decline rapidly. Later he  learned hackers interfered with his order system by then it was too late.

“It felt like they had a plan,” says Brian Milburn.  “If they could just put the company out of business, the lawsuit goes away. They didn’t need guys with guns or someone to break my kneecaps.”

The intruders were identified by Jose Stewart of Secureworks, a threat expert,  that the hackers were out of Shanghai who were known for their national security breaches for a number of years known as the “comment” group as identified  also by other commercial hacker hunters.

This group has hacked into the president of the European Union Council, major defense contractors and even Barack Obama’s 2008 presidential campaign.  The group has been linked to the People’s Liberation Army, China’s military, according to leaked classified cables.

Two months after the court was settled, the cyber attacks stopped.


Nov 1 Faster Short Sales and Deed-In-Lieu

November 2, 2012 Leave a comment

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November 1 begins the start of new rules   for short sales  which has consolidated the process into one new streamline program easier to execute, faster  and   includes lender requirements to respond to short sales within 30 days of the offer, provide weekly updates and communicate final decisions within 60 days of receipt of offers.

No longer will borrower need to be in default to qualify for a short sale if their mortgage is backed by Fannie Mae or Freddie Mac as long as they have hardship such as death of a borrower or co-borrower, divorce, legal separation, illness, disability or distant employment transfer.

Deficiency judgements (balance between short sale and owed amount) may be eliminated with some funds paid at closing.  Military borrowers are not required to pay funds to negotiate the elimination of deficiency judgements.

Servicers working with Fannie Mae and Freddie Mac   will be able to skip a step when attempting to get a short sale or deed-in-lieu of foreclosure approved  by the elimination of approval by mortgage insurer as part of the  process and according  to the new standard delegation agreements.

“Short sales and deeds-in-lieu are important tools to prevent foreclosures and help struggling borrowers,” said Leslie Peeler, SVP of national servicing organization at Fannie Mae. “These delegation agreements create an even more streamlined process that will ultimately help more families avoid the costly effects of foreclosure and benefit taxpayers. We are pleased that the mortgage insurance companies have stepped up to the plate with us to help more homeowners.”

Should a borrower not make a  20 percent downpayment, the borrower is then required to have a mortgage insurance.  Agreeing to the terms are the following mortgage insurers:  CMG Mortgage Insurance Company; Essent Guaranty, Inc.; Genworth Mortgage Insurance Corporation; Mortgage Guaranty Insurance Corporation; PMI Mortgage Insurance Co.; Radian Guaranty Inc.; Republic Mortgage Insurance Company; Triad Guaranty Insurance Corporation, and United