Thursday, September 11, 2008

T Rex Has A New Tennant!

That's right, everybody's favorite office park has a new tennant - I'll give you three choices to guess who it is:

a) Bluth Industries
b) Enron
c) RPM Oversight


If you guessed "c" you're correct! Who wants to bet that Daddy and the Juniors are now residing in T Rex on First NLC's (bankrupt) dime?
Wow, talk about a "fresh" start, huh? With this kind of thinking, I'm sure RPM Oversight is basically being run as First NLC 2.0. In other words, this company is going to be just as much of a joke as the last one these bozos ran into the ground.

Can't wait for the RPM Oversight retail ops center to show up in Anaheim!

Tuesday, August 19, 2008

Researching RPM Oversight? Here Are Some Handy Links

This blog has received a fair amount of traffic lately from folks searching for "RPM Oversight" on search engines. For you folks who want to know why a blog about First NLC, a company that went bankrupt earlier this year, appears in the search results for RPM Oversight, it would probably help to explain that the majority of the RPM Oversight exec team also were members of First NLC's exec team.

The RPM contingency would love to have their misdeeds and past errors magically disappear as they attempt to start anew, but there are many, many people who were thrown under their bus as it sped out of town. These folks have all contributed to this blog's community, and I encourage you to take a look at the following links to get an idea of who is behind RPM Oversight and how they've conducted themselves. Enjoy.

http://lastnlc.blogspot.com/2007/05/did-you-know.html
http://lastnlc.blogspot.com/2007/05/job-searches-squashed.html
http://lastnlc.blogspot.com/2007/06/final-insult.html
http://lastnlc.blogspot.com/2008/01/bankrupt.html
http://lastnlc.blogspot.com/2008/02/of-watches-birthdays-and-ungratefulness.html
http://lastnlc.blogspot.com/2008/02/strange-but-true-tales-from-comments.html
http://lastnlc.blogspot.com/2008/02/50-million.html

Wednesday, August 13, 2008

Web Marketing 101 for RPM Oversight, Daddy and the Juniors

Contrary to many opinions and theories on this blog, I happen to know a thing or two about doing business online. So, I thought I would pass on a small piece of advice to the bozos over at RMP Oversight (http://www.revupyourreturns.com/):

Don't use a web address that doesn't include the name of your organization!

Seriously - what in the hell does "Rev Up Your Returns" have to do with "RPM Oversight?" That's like ESPN using "getsportsscores.com," FBR using "subprimecompanyliquidators.com" orBank of America using "keepyourmoneyhere.com" as their URLs.

It's called online marketing, you bozos. Look into it.

Actually, I'd rather you didn't. I like being the number one Google search result for YOUR company. Besides, why spend money on acquiring a good URL? That's just plain silly, when you can do things the old-fashioned way!

I can't wait to see what this company's logo is going to look like.

This "No Duh" moment was brought to you by Citizens Against Swindlers in the Financial Industry.

Monday, August 11, 2008

So, What Does RPM Oversight Do?

RPM Oversight (can you believe anybody would actually use the word "oversight" in the name of a financial management company?) must be a very dynamic company - they've already changed their "what we do" statement on their web site to the following:

RPM Oversight assists our clients with:
  • Portfolio sales
  • Portfolio purchases
  • Portfolio oversight and reviews
  • Servicer oversight and reviews
RPM Oversight thoroughly reviews and assesses the documentation, compliance, property value, and servicing records of every loan in every portfolio we manage.

Looks like, upon further review, their original "what we do" statement had too many holes (facts) to fill.

By the way - I'm really loving the dead link to "Click here to see case studies detailing RPM's successes" on the homepage. What, you don't have any successes yet? How much you wanna bet that the first successes they have listed will be for Daddy, Junior, OtherJunior or any of their cronies?

Friday, August 8, 2008

Like A Phoenix Rises from the Ashes...Only This Is More Like A Turd Rising from the Sewer

Well, well, well. Guess who's back (besides me, of course)? Why, it's Daddy, Junior, "the other" Junior and all of their cronies. This time, they're disguised as RPM Oversight (thanks to blog reader Pete for giving us the heads-up). How ironic that the word "oversight" is in the company name, what with all of the crucial "oversights" these clowns had during the past couple of years. I also see that the utter failure and bankruptcy of FNLC wasn't mentioned in any of the exec bios, either. I guess that's just another "oversight," eh?

So, what does RPM Oversight do? According to the site:

"RPM Oversight thoroughly reviews and assesses the documentation, compliance, property value, and servicing records of every loan in every portfolio we manage."

Hmmm. Interesting. Since when are these guys concerned with "thoroughly reviewing" anything? I never realized that shipping boxes and boxes of documents out of Florida and into an unused office space in California was considered portfolio management, but to each his own...

Let's have a little fun with the "Who We Are" section of the site, shall we?

RPM Oversight is comprised of a group of highly skilled mortgage industry and legal veterans (and the Henschels, too) who specialize (don't you have to perform something on a regular basis to "specialize" in it?) in creating value and maximizing return on investments in residential mortgage loan and real estate portfolios (while cashing out assets and looking out for only the largest stakeholders when the ship starts sinking).

Our team (Daddy) has more than 100 years of combined experience in the real estate, legal, and mortgage lending industries, enabling us to assist (bilk) you in the purchase, rehabilitation, refinance, (liquidation, bankruptcy) and sale of loans for higher returns (to outstanding creditors).

Our hands-on approach allows for an indiviudal assessment of the documentation, compliance, property value and servicing records of every loan we manage, the result of which is increased returns for our clients (the jokes just write themselves, don't they?).

Our team has originated and sold more than $20 billion (worth $5 billion) in mortgage loans to Wall Street and other institutional investors (who can't come after us because we declared bankruptcy) over the last seven years (not including the past two, of course). We have negotiated the purchase and/or sale of more than $1 billion of distressed mortgage loans (including our own, but not Kent Cope's).

The company is headquartered in Boca Raton, Florida (T.Rex).

Tuesday, May 6, 2008

This Goddamned Company Continues To Haunt Me

After taking care of my '07 taxes and getting my (unmatched) 401k contributions out of Ingham (who I always suspected were cronies of Daddy and Junior) during the past couple of months, I thought I was finally finished with ever having to deal with anything FNLC-related ever again.

Guess again.

I'm currently being subjected to a background check as I move into a new position at my current company. This morning, I was informed that the company performing the background check cannot locate any information about First NLC and cannot verify my previous employment at the company. I've been asked to provide proof by faxing my FNLC W-2 forms. As you can imagine, the idea of rummaging through my financial records and faxing personal information is not something I am comfortable with.

Fortunately, I have another card up my sleeve. Last year, when my original background check was completed, I requested my own copy of the report, which I happen to keep on hand during times like this, when I need to look up details like corporate mailing addresses and contacts in order to apply for jobs. This report has my FNLC experience confirmed, so I've referred the background checking company to their earlier work. Hopefully, that will take care of this issue.

I've worked for over a half-dozen companies in the past 15 years or so, and FNLC isn't the only one that has ceased to exist, yet they are the only one that I've ever had this kind of trouble with. A closer look at my background check reveals a possible explanation - every company has (or seems to subscribe to) some type of formalized database that provides this information. They generate a mini-report that gets rolled into my background check. Every one, that is, except for FNLC. My FNLC work history confirmation consisted of a note from FNLC HR and an explanation that FNLC doesn't provide further information.

Should it surprise any of us that FNLC "did what was required" by cutting corners and relying on manual, outdated methods to compile employee records? Of course not. This is just another example of how the company would take the easiest and cheapest path for anything that did not contribute to profits.

Well, guess what, Daddy and Junior? All of that sneaky and self-serving penny-pinching still didn't keep your asses from being kicked to the curb by FBR. Oh, I'm sure you think that you'll just ride out the storm and show up again when the market is ripe for small-minded, greedy, ignorant fools to make boatloads of money, but it's never happening for you again. Your name is mud in this industry and your reputations will be forever tarnished by your actions over the past three years, when you could have kept the ship from sinking but instead focused on moving into T. Rex, petty sibling squabbles and watching the FBR stock ticker.

I know some of you may still be looking for work, so I'd like to encourage everybody to be prepared for a similar situation, since, according to my resources, your tenure at First NLC may have never "officially" existed.

Tuesday, April 22, 2008

New Message Board for Former FNLC'ers

Former employee Shawn has put together a message board for the ex-FNLC community. Stop by and leave your thoughts when you get a chance:

http://exnlc.activeboard.com/