Press Releases ...

We're proud of publish recent announcements for our career oriented mortgage training center

July 14, 2008

IMAGINE HOUSING WITHOUT A SECONDARY MARKET FOR YOU

"This afternoon the company is pleased to announce we have a new live class all about how to locate a steady stream of loan funding money, to support your operation," announced Peter Samuel Cugno, company Chairman & CEO. "The idea was developed from a Blog posting this past Saturday, and in conjunction with today's bomb-shell events surrounding Fannie Mae, Freddie Mac, and Indy Mac Bank," Peter continued. I remember as all the known funding sources were exploding all around me back in the mid 1980's, during the most terrifying time I have had in this industry, as I watched the entire savings and loan industry of mortgage loan buyers crumble."

"We live in interesting and difficult times for our industry; having a solid step by step road map at hand, is what will be shown to students who attend this new class. It will demonstrate exactly what, and how I did what I did, that worked and got my own operation from certain collapse, to a successful future," Mr. Cugno reported. "Our first class should be within 30 days; limited to a handful of mortgage broker/banker owner/operators."

July 8, 2008

IN THE NEWS

Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis,  chronicles this incredible disaster, with a specific focus on the players who participated in such a fundamentally flawed fiasco.  Authors Paul Muolo and Mathew Padilla, well-regarded journalists for National Mortgage News and the Orange County Register respectively, reveal the truth behind how this crisis occurred, what individuals and institutions-from lenders and brokers to some of the biggest investment banks in the world-were doing during this critical time, and who is ultimately responsible for what happened. This great educational read, is a must for all individuals involved in our industry," a company spokesman announced this morning.

"We understand the role of subprime was discussed in some detail and our Founder Peter Samuel Cugno, was extensively quoted in this newly available publication at Barnes & Noble & Amazon.com. We anticipate to have this new book For Sale on our website as well. You can listen to a 30 minute NPR interview with Paul HERE."

May 31, 2008

Free Lifetime Mortgage CD Lesson Upgrades!

"Today we are announcing a Free Lifetime Upgrade Guarantee on all of our CD Mortgage Lessons. This trademarked series, Secrets of the Mortgage IndustryTM consists of nearly a dozen and a half, wide-ranging core instructional materials for the Mortgage Professional.” reported Peter Samuel Cugno, Chairman & CEO of the Secret! University division of Americas Money Center, Inc.

“We’re part of the consumer residential real estate mortgage lending business, one of the fastest moving and rapidly changing industries in the Country,” Peter went on to say, “it just makes good sense to offer complimentary upgrades of our CD Lessons to all past, present, and future students.”

“As of this morning, we are only a day or so away from the complete modification of these Lessons; so far some have required only minor adjustments, yet others have needed almost a complete re-write!”

In conclusion Peter said, “We only ask that the old ones be returned, and we’ll promptly send back out our latest version; today that’s Version 8.5.”

May 9, 2008

FHA Approval In!

"Today we got word that the long awaited FHA Approval for our affiliate Loan Officer Opportunity Program, has finally arrived," reported Peter Samuel Cugno, Chairman & CEO this morning. "Over the last several months we have had scores of inquiries asking when this would take place; we're pleased it happened today. It's my guess, once the boss returns from his overseas vacation at month's end, the FHA portion will be rolled out; if not then, shortly thereafter we anticipate."

Peter went on to say, "We have endorsed this organization for more than six years. I know them to be honest, genuine, and all they purport to be; financially strong and no 'tricks' unlike many other similar type opportunities available." 

April 7, 2008

UP TICK EMERGING

"Upon a recent analysis, we've experienced a fourteen percent (14%) increase in traffic to our mortgage industry's education learning and training center's website March 2008 over February, along with a fifty-four percent (54%) boost in individual potential student readers of my own personal Blog as well," reported Peter Samuel Cugno, Chairman & CEO of the Secret! University division of Americas Money Center, Inc. a leading industry education and training learning center, "these numbers today are an encouraging sign of our residential real estate mortgage lending industry's improving health today. Even considering the scores of new State and Federal legislation being considered nationwide, to squeeze the industry for it’s apparent reckless neglect of controls in recent years, along with the devastation to employment for many workers involved with residential mortgage origination, many have weathered the storm, and it looks like they’re coming out the other end of the ‘punishment phase portion’ of this correction intact and looking toward their future."  

"Even though at six weeks out, right now we're encountering sluggish RSVP's for our next scheduled ‘Master Seminar’ May 17th in Southern California; due to a twenty-six percent (26%) increase in online inquiries about this upcoming session, we're none-the-less anticipating a healthy turn-out from the survivors. Tieing into the theme of this summer’s movie Blockbuster, the subject for this one is GET SMART, and we'll offer up a new Game Plan for mortgage bankers, brokers and their loan officers!

"These and other confidence building indicators we’ve observed, suggest we're apparently approaching the bottom of the 'punishment phase' of this latest residential real estate mortgage lending industry wide 'correction', which we're now more than twenty-eight (28) months into at this point," Peter concluded. 

March 23, 2008

HAPPY EASTER

March 19, 2008

ARTICLE BRINGS SITE BACKLINKS TO 2094

"This article, the lead piece in The Mortgageland Journal's March edition, was picked up by more than 27 other websites, who have republished it for their readers,"  reported Peter Samuel Cugno Chairman & CEO. "This special situation has increased our website's back links (a vital SEO characteristic) to more than 2,000! I'm excited to see this," Peter said, "as my perspective on industry events continues to be unique when compared to other industry trainers/gurus. And, more viewpoints helps our readers and potential students to more clearly judge the direction of their future career path."

 

How it Was is not how it Will be

Picture an old grand-father’s clock in your mind, with it’s pendulum swinging back and forth. That’s how the residential real estate mortgage lending industry trends have historically performed. The pendulum swings in one direction for a time; then it reverses itself and goes back the other direction. With each ‘correction,’ the newly changed course brings fresh and innovative ways to operate; many new concepts develop that were not a part of the former path. 

After the last correction that started during the Fall 1998, several original concepts evolved. As we think about that period, we need to remember through the 7 years of that pendulum swing, home values soared nationally and interest rates plunged to historical lows, inspiring mortgage brokers and LO’s to think ‘short-cut’ and ‘easy money’ was the way to go (and thus keeping them from growing in business knowledge and realizing they should have been learning their trade – but the Greed was intoxicating). With property values and rates acting like they had never done before, it encouraged the scheme of refinancing customers 2, 3 or even four times over a short period – stuffing large YSP’s and raising loan balances each time, effective burying many of them in their homes; all the while persuading every Tom, Dick & Harry to jump into our industry so they could make Big Bucks! Unlike the more traditional way of thinking, Integrity and Ethics seemed out of place during that cycle. Also among the more startling ones that grew, included the idea of paying LO’s and AE’s commissions (six plus figure incomes!) vs. previously customary salaries + bonus – which made them transaction and commission check focused and it took away from a fiduciary duty to place the customers interests ahead of their own; the notion of permitting unsupervised and unqualified LO’s operate as independent contractors working out of their home; wholesale funding sources, overcome by greed, offering one irresponsible loan program after another chasing production; the net branch biz plan often utilizing unlicensed and always poorly trained loan officer/agents to uncontrollably operate nationwide … I could go on and on about all the changes that came to pass during the 98-05 pendulum swing. This was a most regrettable period for our industry, thankfully, most of the careless concepts are disappearing as we speak. 

Let’s not forget, the Aug '98 - Dec '05 swing brought us astronomical production numbers all up and down the line – however, those were not true loan volume numbers, but really GIFT stats, as most transactions were a present/gift to the borrowers as there was very little resemblance to real lending being done, given the major deterioration of the vital checks and balances from LO to broker to processor to underwriter to lender and up stream from there. I have never seen the amount of total industry destruction these and others ridiculous practices have caused. 

Since the current ‘correction’ began during the Winter 2005, at the moment we’re just over 2 years into the current pendulum swing; on this new path you’ve already seen a great many changes – there’s more to come ... don’t look backward for what’s now gone, instead look forward to up-to-the-minute ways of doing things(*). 

A great many new State and Federal laws are being enacted to protect the public from the Wild West ‘out of control’ attitudes of the mortgage industry recently, with regulators looking at those they license more closely and enforcement of existing laws being stepped up. By and large, the barriers of entry into the industry should return. A return to previous foolish programs being offered by wholesale lenders is not likely; neither is the business model of permitting unsupervised LO’s to be our 'front-line' with the public; optimistically the general idea of avoiding industry education and training should disappear since the ‘big easy money’ has stopped at last. Wholesalers accepting new business from mortgage brokers without performing appropriate due diligence first, should vanish. Traditional/ conservative underwriting standards (some of you vets I'm sure remember the old 28/36) will resume (including across the board LTV reductions); and along with hundreds of other important areas to consider, the upstream warehouse funding sources, the wall street conduit developers, pool & bond insurers, etc. all should return to the previous checks and balances each were designed for and must perform, to maintain a viable secondary market. 

To be expected during this swing, would be rates increasing and property values declining, the beginning of things returning to a more normal and balanced way of doing business. Today however, since the Fed is artificially pushing rate lower in an effort to boost the American economy, that variation in this correction will have an unknown effect on business in the long run. We’ll therefore, likely see a rush into the conforming arena by most, with subprime/non-conforming taking a bit longer to transform itself into what it will look like, during the rest of this present day cycle the next seven to 10 years. And when it does, it won’t look at all like it did during the 98-05 period; probably more like it did preceding the '98 correction. They’ll be all new players, novel hot loan products, etc. Thankfully, long gone are the Low score high LTV Stated GIFTS! 

I have seen in previous 'corrections,' nearly all of the formerly weakest areas tend to come to recognize how they contributed to problems and then they make adjustments and improve! Adapting to the changes, is the key to any long-term success in this business. Those 'good old days' of fast & easy money are gone. 


PS: (*) loans will stay on the books longer than they had been during the 98-05 swing (where many borrowers refinanced regularly, frequently traded up on home purchases, etc.) to the more historical 5 to 7 year loan durations. Therefore one example would be that due to the changes in loan life, if you have been churning your former customers for new loans or trying to survive on referrals from them, you’ll discover in this new climate, the number of loans you’ll be able to get funded will be significantly reduced.

January 3, 2008

2007 - A QUICK LOOK BACK

"Beginning December 2005, we entered the fourth industry 'correction' in my long career in the consumer residential real estate mortgage lending industry," reported Peter Samuel Cugno Chairman & CEO. "This correction is proving to be as serious as the industry collapse of 1988, which was a result of the far reaching S&L crisis. As cycles go, the punishment portion of this one should bottom out this Fall, and slowly start to begin to improve. By then, many of the new players that typically emerge during these cycles, should be at hand. However, much like 2007 - until we hit that point,  2008 should be as ugly as 2007 was; maybe even worse." 

"December 2007 proved to be the most active month on our website in the last 22 months; a strong website visitor showing that we are quite happy with. Unfortunately, even with all that action, our current student base as well as potential new  ones are themselves in financial trouble, so very few of them actually took advantage of our products, services and materials in December, or even much throughout the entire lackluster year. As with almost every industry vendor/supplier I've spoken with, 2007 was a financial disaster at Secret! University ... we're looking to better times ahead." 

December 21, 2007

MERRY CHRISTMAS

December 15, 2007

CURRICULUM & LESSON PLAN UPDATE

"We are updating our website and the entire curriculum here at Secret! University for 2008," Peter Samuel Cugno, Chairman & CEO announced this afternoon. 

"For the last three months, the Mentor/teacher faculty has been upgraded; today each one has received our Certified Mortgage Professional (CMP) training, certification, and designation. A level which no other mortgage learning center has achieved.

Each of our lesson plans; our various services, materials, CD Mortgage Lessons, etc. have been reviewed and modified to correspond with today's industry challenges," Cugno went on to say.

"Furthermore, there is an ongoing SEO project, so our website will continue to rank favorably on many organic search engine keyword/phrase searches. To date I am proud to evaluate where we stand. To see the continuing work in this area as it unfolds, visit my own Blog." 

October 3, 2007

SMOOTH'S TO HOST 'BIG EVENT FOR ACACIA'
Fundraiser Set For 16-Year-Old In Need of Double-Lung Transplant

Long Beach, CA. – Smooth’s Sports Grill will be the location to host the ‘Big Event for Acacia’.

Overlooking Pine Avenue in historic downtown, Smooth’s Roof-Top Terrace will be the setting for a fundraiser to help Russ Cugno and Lisa Rizzo-Cugno's sixteen year old daughter, Acacia.

Acacia has been diagnosed with Primary Pulmonary Hypertension -a serious life threatening heart and lung condition. She and her mother, who’s had to leave work, are currently living in a Pittsburgh hotel near the hospital awaiting the life-saving double-lung transplant surgery.

The non-insured expenses for pre and post-operative care are astronomical. The financial impact on the family is severe and continues to grow daily. The event is planned to be a fun filled evening with food, music, prizes and a giant silent auction and is to raise money for Acacia to help with expenses for her and her family.

Smooth’s ‘Big Event for Acacia’ will be held on Wednesday, November 7^th beginning at 5:30 p.m. Smooth’s Sports Grill is located at 144 Pine Avenue, Long Beach, California.  The donation at the door is $25. per person.

If you are unable to attend but wish to make a contribution, tickets can be purchased online http://www.americasmoneycenter.com/eventtickets.htm

For more details and updates on prizes and celebrities planning to attend please visit http://www.lofan.com/acaciafund.htm for updates on her condition visit http://acaciaupdates.blogspot.com/

September 1, 2007

ANNIVERSARY CELEBRATION!

"This morning, the company is pleased to announce the 5th Anniversary of the Secret! University learning center, division of Americas Money Center, Inc." announced Peter Samuel Cugno the company Chairman & CEO.

AMERICAS MoneyCenter, Inc. formerly was an Internet platform based online financial institution, leverage the convenience, speed, and cost efficiencies of the Web. Through it's award winning website, the company specialized in Internet based lending by providing funding with liberal underwriting standards, for residential real estate consumer homeowner mortgage loans to customers of all credit grades, from Coast to Coast. With the latest addition of it's Secret! University Division, it is playing an important part in the continuing education of mortgage industry professionals.

August 4, 2007

HOTLINE DISCONNECTED

"This morning we discontinued our Mortgage Broker/LO HOTLINE service", Peter Samuel Cugno, CEO reported. "This 900# service, which we began in October 2004 to provide instantaneous assistance to the cell phone carrying world of loan originators 'for those quick answers they need all the time', has proven to be a colossal flop! It was clearly a good idea that was ahead of it's time, it just came too soon."

"In spite of the clear cut evidence they had received little or no proper training, we originally felt having access to our Help Desk, that was only a quick phone call away, would have been a life-line frequently utilized by many people out in the field and away from their boss. Turns out, that even at only $1.99 a minute, most didn't think it would be cost effective for them."

June 8, 2007

OUR JOB BOARD IS ONLINE!

"Today we became affiliated with industry’s largest and most widely used niche job board. We are now representative of a growing list of periodicals, non-profits, government agencies, and professional organizations using this proprietary “Powered by TheBoardNetwork.com” affiliate module.

Through their Partnership Plus+ ™ program, our organization now offers our website visitors the very latest 'Secret! University Job Board powered by mortgageboard.com.' By adding this industry specific resource to our organization’s website, we are able to provide a value added service to our students, alumni, and new members. We've very excited about this new addition to the Secret! University learning center," reported a company spokesman.

September 11, 2006

CMP PROGRAM LAUNCHED!

May 16, 2004

STOPPED LOAN ORIGINATING

"Today the Company is announcing we are halting our retail residential real estate mortgage lending activities," chairman Peter Samuel Cugno reported. "After a long and distinguished period of helping the public improve their family budgets and finding the American Dream, our plans are to spend our remaining resources in improving the educational & training needs of mortgage brokers and bankers across the Country - education for the common good."

January 2, 2004

A SHIFTING FOCUS IN 2003

“Our numbers are in for 2003, industry wide the busiest mortgage lending year since records have been kept! Although we found our origination numbers, coming in at just under $12 Million respectable, they were considerably off over previous years," reported Chairman Peter Samuel Cugno. "For the third year running California came in as the number one State for mortgage loan applications received, followed in order by New York, Pennsylvania, Texas, Oklahoma and New Jersey this past year. Four of these were in the top six highest ranking States in 2002 as well." Mr. Cugno continued, "Our attention for much of the year was aimed at our rapidly developing Secret! University division and it's industry educational activities, a direction the company is aggressively moving into more and more."

December 18, 2003

INDUSTRY DISCUSSION BOARD LAUNCHED

“This morning we launched our own mortgage professional discussion board. The Secret! University division of our company is growing leaps and bounds," an executive said in the statement. "We are hopeful our board will become the industry web leader.  With the Internet playing such a major role in our lending business, and with it's enormous impact on loan providers everywhere these days  - online communities such as this are vital, especially from an educational and ethical point of view."

September 15, 2003

SECRET! UNIVERSITY IN THE NEWS

August 18, 2003

SECRET! UNIVERSITY ANNIVERSARY

"Our long association with the 25 year old American School of Mortgage Banking (a registered U.S. Dept. of Education UNITID # 377838 BPPVE 3006351 secondary education school), has had our class a part of its curriculum since its beginning.  To date we are proud to report 100% student satisfaction with our course on our unique 'Secret! System' pipeline automation efficiency techniques."

July 25, 2003

WE'VE REACHED ANOTHER MILESTONE

“I’m very happy to announce the company has surpassed several thresholds recently. Via this website, we have now originated over 2,000 individual transactions, totaling in excess of $175 Million in residential real estate consumer mortgages direct, in 40 different States across the Country! Considering our lending processes are web based and significantly automated; because of that, this is indeed quite an achievement!" - Peter Samuel Cugno Chairman & CEO went on to say - "I want to congratulate our webmaster and staffers for doing a wonderful job." 

September 1, 2002

CUGNO CONTINUES INDUSTRY EDUCATION

"I am pleased to maintain my position as a teacher and consultant to our industry", company Chairman & CEO Peter Samuel Cugno said today.

July 23, 2001

OVER $100 MILLION SERVED!!

And, since October 19, 1999 when we found the 'key' to Internet advertising - we have originated 1,388 loans for $100,024,470 of consumer direct residential real estate mortgage loans on our website, we've very proud of that accomplishment, it is a fine benchmark of our dot-com partnerships."

October 3, 2000

HIGHEST LEVEL OF CERTIFICATION RECEIVED

“As many of you know, gomez.com is utilized across all industry categories to find and evaluate the best e-commerce sites around,"  Company CEO Peter Samuel Cugno announced. "This morning Gomez Advisors presented their Certificate of Review for Americas Money Center, and we received their 'Three Star' Merchant Certification rank of Pass +"

"Three Star Pass + is their 'highest level of Merchant Certification', the Gomez announcement went on to say.  This Certificate of Review validates our aggregate proactive paradigm online website, and is no small accomplishment since 50% of those reviewed do not meet even their minimum criteria.  We particularly were happy to be able to see a ranking of our site, as it compares to our competition.  We also noted they publish exactly their industry evaluation criteria utilized, for all to understand.  Our webmaster's done a great job.  We're very proud to receive such an honor from the fine people at Gomez Advisors." 

September 19, 2000

FINANCIAL POWERHOUSE SPOTLIGHTS OUR WEBSITE

“I was pleased to see this rather nice article; they brand best-of-breed metrics and presented the company experience with our website quite fairly,” Chairman Peter Cugno was quoted as saying.  “There are a great many websites that promise instant pre-approvals for top notch credit customers, those type of sites are a dime-a-dozen, however.  What’s meaningful about our site, is it addresses not only those top notch credit type customers, but also the special needs of real people -- the average American family who have lower than premium credit scores, who have experienced credit problems with some minor, and even some significant ones.  That’s the customer who we help day in and day out.”

March 10, 2000

Americas Money Center
 RELOCATED TO DOWNTOWN LONG BEACH

“Today I am pleased to announce we are expanding our facility and moving our Executive & Administrative offices to the most prestigious address in downtown Long Beach,“ said Peter Samuel Cugno Chairman & CEO of AMERICAS MoneyCenter, Inc. at a press briefing this morning.  “The One World Trade Center complex will facilitate dynamic infrastructures, and will provide all the right elements for a company like ours that’s ‘on the move’!  From our new eighth floor windows, we can see one of the busiest harbor in the World, have a vantage point view of the Queen Mary, the Grand Prix – and all that energy is just perfect for our needs.” “Internet based ‘DOT-com’ mortgage origination companies are hot, especially those that specialize in the ‘non-conforming’ industry niche.  Those that are publicly traded are enjoying strong stock earnings, and even privately owned firms like ours, are enjoying many investor/ partnership type offers.  We have had nearly 21,000 visitors to our website, since January 1st alone, we have originated nationally over $5.2 Million of residential real estate mortgage loans exclusively through our website, www.americasmoneycenter.com.  Easy access to our checkbook, 24/7.”

February 24, 2000

CUGNO SELECTED TO RE-WRITE 
SCHOOL'S "NON-CONFORMING" CURRICULUM

In addition to his duties as the instructor of the 'Integrity & Ethics in Mortgage Lending' executive course for mortgage lenders and brokers, at the American School of Mortgage Banking's national campus in Orange County, California - Peter Samuel Cugno has been chosen to completely redo the entire non-conforming/subprime Lending course.  "With Peter already a part of the school, plus his almost 36 years as a non-conforming lender, he was the natural choice to update our program", Bart Dueslar, President of the American School of Mortgage Banking was quoted as saying.

"Non-conforming applicants are potential customers with less than perfect credit.  They are the largest segment of the borrowing population - not everyone can 'walk-on-water'. They all have a unique story and they must receive special handling by mortgage loan professionals.  Loans for this segment of the American population MUST be customized, handled carefully, and can only be done well by someone that understands the uniqueness of each customer," Peter said. "and, AMERICAS MoneyCenter, Inc. focuses on this special group of customers exclusively.  Due to my own long experience is this industry niche, I'm pleased to help out the school."

October 16, 1999

COAST TO COAST MORTGAGE LENDING NOW POSSIBLE

Supplementing it's national commercial small business equipment finance lease operation,  AMERICAS MoneyCenter, Inc. announced it has completed the negotiations and executed partnership funding agreements with various nationwide 'net branch' organizations this month.  "These new associations will benefit both the company and its customers through the benefits derived from the economies of scale of a national firm," Chairman & CEO Peter Cugno said

"These new partnership relationships will now allow the company to close loans in virtually every state, and therefore target world-class ROI. Considering 100% of our retail customer marketing is Internet based, with over 12,000 previous visitors to our online award winning website - and with as many as 1,316 visitors this month alone - having access to the funding capabilities of long established solid countrywide partners has become critical to our day in and day out operations.  No longer is it prudent to isolate marketing efforts to any one particular state, more than 98% of our October website visitors came to us from outside California! We can now strategize frictionless niches within the net branch systems."

June 7, 1999

FUNDING FOR COMMERCIAL BUSINESS EQUIPMENT NOW AVAILABLE

In addition to its consumer residential real estate lending operation, AMERICAS MoneyCenter, Inc. has reported they have opened up a credit department division specifically to provide commercial & industrial small business equipment finance-lease funding directly for retail business customers, thereby integrating one-to-one e-markets nationwide. "For a company like ours, this is a unique feature of also funding business needs," Chairman Cugno remarked today.

May 1, 1999

NEW CREDIT FACILITY APPROVAL REPORTED

AMERICAS MoneyCenter, Inc. has reported they have received the approval a multi-million dollar mortgage warehouse line of credit facility from a large Mid-west commercial bank. "We are all thrilled about this addition, since credit lines to firms like ours (that specialize in non-conforming/ subprime and high LTV loans), are hard to come by these days," stated Peter Samuel Cugno Chairman & CEO.  "Because we have this credit line, we’ll have access to the most popular institutional investor programs, and it will generally speed up funding, since the closing checks will come from our local bank account.

This new credit line development, when combined with our own money available to fund and portfolio loans, gives me a great deal of comfort to provide uninterrupted service to our customers" Mr. Cugno reported. "Also, we can now expand our potential customer base with more intense Internet e-commerce activities, and help us orchestrate leading-edge initiatives."

April 16, 1999

NEW LENDING SITE REVEALED

AMERICAS MoneyCenter, Inc. has announced the completion of its Internet based website www.americasmoneycenter.com which went "online" April 10, 1999.

"With the advent of growing e-commerce, e-mail, and websites virtually everywhere – especially after being very Internet involved in several ways since August 1995, using the 'net' to make doing business easier, "… we’re excited about it's opening, it’s right on the mark, we're no longer part of the off-line world" said Peter Samuel Cugno Chairman & CEO. "Borrowers can apply for loans with us online, as we morph front-end bandwidth, thus obtaining the benefits of lower costs and faster processing of their applications," he said.

"This new website contains more helpful information than ever before, and it will optimize end-to-end paradigms within the organization", Cugno commented. "We are a young and growing California based online specialty financial services organization. The Company specializes in providing funding for residential real estate consumer homeowner mortgage loans, to customers of all credit grades."

February 1, 1999

INDUSTRY PIONEER OPENS LOCAL OFFICE

After three major surgeries and a two+ year fight with cancer, Peter Samuel Cugno of Cugno Consulting is back hard at work helping folks in LA and Orange County. "I have enjoyed my consulting work with various mortgage brokers and mortgage bankers around the country (to help make the residential real estate mortgage loan process painless - 'Training the Lender'), in addition to my scheduled activities as speaker and instructor on Integrity & Ethics in Mortgage Lending for the American School of Mortgage Banking these past couple of years," Peter said, "but my heart’s always been where the action is – I Love the 'jazz' of operating." He has opened the AMERICAS MoneyCenter, Inc. office located on busy Chapman Ave in Orange, CA.

Mr. Cugno is widely considered the inventor of the High LTV Second Mortgage, with 34+ years operating experience in the B/C and High LTV industry sector. After leaving a 14-year career as a retail non-conforming/subprime portfolio lender with Beneficial, in the early 1980’s he started-up a successful nationwide wholesale High LTV and B/C second mortgage lending operation. With this foundation and using its subsequent FreddieMac Seller/Serviced (second mortgages) status, it was his company that invented the High LTV second mortgage product back when 70% CLTV was common. Their trade marked 90 SECOND^TM Second in 1981, and their 100% CLTV second mortgage product in 1988, were forerunners of today’s High LTV second mortgage product. Mr. Cugno has been widely quoted in various publications - Wall Street Journal, New York Times, National Thrift News, Origination News, Home Equity News, National Mortgage News etc., about mortgage lending operations. His last speaking engagement was January 20, 1999 at the Orange County Chapter of the Women’s National Organization of Mortgage Professionals.

October 10, 1998

MORTGAGE BANKING SCHOOL ANNOUNCES
’Advanced Executive Seminars for B/C & High LTV Lenders’

"Today they’re faced with increased challenges in light of the recent economic crisis that’s hit Wall Street. It’s knocked many of them for a loop!" Bart Duesler, ASMB’s General Manager said. "Now’s the time for a calm assessment of the marketplace, there’s too much hysteria right now, and it’s not necessary."

"The sessions will be conducted at ASMB’s Tustin campus by strategic alliance partner Peter Samuel Cugno Chairman & CEO of Cugno Consulting. Known by many as the father of the High LTV Second Mortgage, Cugno has more than three decades experience in the B/C sub-prime non-conforming and High LTV industry niche, Peter is also our instructor of Integrity & Ethics in Mortgage Lending."

"Some reports today are saying ‘The Sky Is Falling’, Duesler stated. "This tends to make uninformed individuals a nervous wreck, the session will ease many of those concerns."

Tuition for the all day seminar is $395. Advanced registration and payment are required, as seating is limited. For Reservations and Information, send e-mail to bart@asmb.com. The ASMB campus is located in Tustin, CA.

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