By Fred R. Wahler
For_Immediate_Release:
Philadelphia - HedgeLender LLC, a leading facilitator of securities-backed financing, today announced a series of policy changes designed to improve due diligence, verification, and disclosure for its clients and affiliates. The steps will apply across the board from staff and affiliates to lending partners and associates.
Fred R. Wahler, Vice President, noted that "What many might have considered normal and customary security steps in the past are increasingly considered insufficient for financial professionals in today's environment. Whether it's a mortgage application or, as with our company, a securities loan application, verification and disclosure are now more critical than ever." Wahler noted that even companies that stress compliance and good business practices can find themselves involved unknowingly with individuals or firms that may have hidden weaknesses or other problems that could come to light later. "It's not enough to be a straight shooter in today's financial world. You need to be proactive and take the extra measures needed to prevent potential problems beforehand" he said, underscoring that the more relaxed due diligence standards that prevailed as recently as a few years ago are simply not accepted either by consumers or regulators today.
Private placement lending arrangements may not be dead, it's true, but polls continue to show that a skeptical public expects a far higher standard from banks, brokerages, and financial advisors than at any time since the Great Depression. To this end, HedgeLender LLC now markets only loan programs operated by major US SIPC-member banking/brokerage institutions which offer licensed account advisors and where the collateral securities do not change out of borrower's title but remain in the borrower's account through the entire loan term. "We feel that this is the type of program, with maximum client access and licensed advisory services within a fully regulated institution that the market today demands", Wahler said.
HedgeLender now also employs the URU international multidatabase background checking system for verification of client and affiliate identity, as well as the Criminal Searches database (http://www.criminalsearches.com/) and the government's Pacer legal records system (http://pacer.uspci.uscourts.gov/) on a regular basis so as to obtain a complete picture of all parties interacting with the company, from lenders to affiliates and even to clients themselves. "Our goal is to ensure that when a client comes to us, he is getting a professional, secure, and legally compliant financial service through a regulated lender with documented assets sufficient to service the loans. We realize that in today's climate, traditional vetting and asset verification are simply insufficient", Wahler noted.
HedgeLender LLC has been in the business facilitating securities-backed financing services since 1999 and since 2003 through its registered trademark HedgeLoan®. It is licensed under the California Department of Corporation's Finance Lender law under broker license number 603E36. It has been an A+ Accredited Business with the Better Business Bureau since 2004.
For further information please contact:
Fred R. Wahler
877-345-0008 (ext. 1)
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For more information:
Visit our website: http://www.hedgelender.com/index.htm
Keywords: HedgeLender, Fred. R. Wahler, Fred Wahler, stock loan, securities finance, Daniel W. Stafford