04/22/10: Halo Benefits, Inc. Announces New Pharmacy Discount Card, HaloRx04/08/10: Halo Portfolio Advisors, LLC Contracts With Local Mortgage Asset Management Fund03/17/10: Shareholder Vision Releases Comprehensive Video Featuring Halo Companies, Inc.02/26/10: Halo Companies, Inc. Announces Ticker Symbol Change to HALN02/24/10: Residential Mortgage Meltdown Could See 11 Million Potential New Foreclosures in the Next 18 Months02/09/10: Halo Debt Solutions, Inc. Approved for ISO 9001:2008 Certification02/02/10: Halo Companies, Inc. Introduces HaloSafe ID, a New Level of Identity Theft Protection12/16/09: Halo Group, Inc. Parent Company, GVC Venture Corp., Announces Change in Name11/18/09: Halo Group, Inc. Makes Dallas 100 List as One of the Fastest Growing Companies in the Metroplex11/12/09: Halo Group, Inc. Expands Again in Allen, TX11/05/09: Halo Group, Inc. Honored With Celebration of Enterprise Award10/27/09: Halo Group, Inc. Chief Financial Officer Named Dallas CFO of the Year10/20/09: GVC Venture Corp. Completes Merger Transaction With Halo Group, Inc.09/15/09: Halo Debt Solutions, Inc. Has Record Month in Debt Negotiations09/09/09: Halo Credit Solutions, LLC Hits the Radio Waves to Educate Consumers on Credit Repair09/04/09: Halo Group Consulting, Inc. Gains More Than 10,000 New Members08/28/09: Halo Group, Inc. President Scott McGuane Named Person of the Week08/18/09: Halo Group, Inc. Ranked as One of the Fastest Growing Companies in the Nation08/13/09: Halo Group, Inc. Addresses Rise in Suicide Rate Among Military Personnel
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Halo Group, Inc. President Scott McGuane Named Person of the Week
Posted on Aug 28, 2009 at 4:30pm
ALLEN, TX--(Marketwire - August 28, 2009) - Scott McGuane, president of Halo Group, Inc., is being recognized this week by mortgageorb.com as Person of the Week. The recognition includes a feature of Mr. McGuane on mortgageorb.com where he answers questions about the challenges facing the mortgage industry and provides insight to forward-looking solutions that Halo Group, Inc. actively seeks to provide.
Commenting on a contributing factor to high re-default rates on modified mortgages, McGuane states, "The industry does a poor job of addressing the total debt load of a borrower. Most models used to qualify a borrower for a loan modification use crude estimates of the borrower's debt load. Buying behavior and future suitability and accountability are not fully developed or tracked. The servicer is solely focused on the overwhelming number of defaults before it, and concentrates only on the loan it services."
The feature article poses the question of how debt settlement is connected to stemming this mortgage challenge. His response, "Debt settlement serves as a key component to effective and efficient mitigation of risk for both the borrower and the unsecured debtor, and it plays a critical role in working out a sustainable mortgage solution. Rather than force the borrower into bankruptcy or continue the ongoing resale of consumer debt until it reaches a level serviceable by the borrower, settlement allows for rapid achievement of price stability, liquidity and management of the debt load. Simultaneously, the borrower is forced to be accountable over extended periods, which is consistent with creating a performing mortgage loan scenario."
When asked about the direct impact these approaches will have on Halo and the likelihood of economic recovery, McGuane responds, "I am cautiously optimistic. A return to more normalized volatility may arrive as early as end of the first quarter of 2010, releasing the pent-up capital we are all seeing and fueling the upward swing in our economy. [To take advantage of this swing] Halo is going public this summer, as we believe the timing is right for a strong recovery to begin." To view the article in its entirety visit www.mortgageorb.com.
About Scott McGuane
Scott McGuane joined Halo Group, Inc. in January to serve as president. Mr. McGuane has more than twenty years' experience in financial services, retail lending and residential mortgage with companies such as Accredited Home Lenders, Inc., Bear Stearns, Citigroup, and AIG. Before that, McGuane provided consulting for strategic planning, mergers and acquisitions process reengineering and change management across a wide range of industries.
About Halo Group, Inc.
Halo Group, Inc. is a nationwide holding company based in Allen, TX with subsidiaries operating primarily in the consumer financial services industries including debt, mortgage, real estate, credit, loan modification, and insurance. For more information about Halo Group, Inc., visit www.myhalogroup.com.
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