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Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
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Monday, June 23, 2008
Visionet Systems Enhances Its Mortgage Enterprise Risk Management (MERM) Offering
Comtex
CRANBURY, N.J., Jun 23, 2008 (BUSINESS WIRE) ----Visionet's MERM is a workflow and rules engine based system used to Define, Measure, Analyze, Improve & Control (DMAIC) and report on operational risk performance of a mortgage business. Visionet recently finished an end-to-end rollout of the system at another top 10 mortgage bank. The system is being used to monitor underwriting practices, ensure quality, track deficiencies, manage repurchases and provide timely information to investors, line managers, the loan servicing department, business partners and agencies through portals.
Visionet's leading clients have realized that outsourcing one hundred percent of quality functions like underwriting review, post close, repurchases and collateral authenticity has turned out to be disastrous. A few of the big name vendors who provided such services have either gone out of business or changed ownership. It turns out that the systems in place to monitor and track loan quality were simply inadequate. The information collected was piece meal and the lender or investor had no mechanisms to comprehend the risk. Most of the critical information was managed via free flowing spreadsheets with no mechanism to verify, rectify, or track what was being presented as the truth. MERM enables lenders and investors to streamline varied quality and risk management functions spread across secondary marketing, origination, and outsourced services such as title, appraisal, and income verification. It also enforces the corporate risk and lending guidelines all the way down to a clerk using smart workflow and rules based technologies. The solution maintains a real-time direct connection between information and collateral and offers foolproof methods to ensure data and document integrity. The system also enables controlled outsourcing of quality functions with 100% visibility and the ability to pull outsourced processes in-house at the click of a mouse. Six Sigma based dashboards and skill/capacity based work routing features are an integral part of the base solution.
"The Mortgage Industry will need to realize that risk cannot be managed though a better origination or a redressed legacy servicing system. It is the systematic disconnect between origination, secondary, and servicing which creates chaos and perpetuates risk. MERM can fix this gap for the lenders and investors who want to make money in the mortgage business," said Arshad Masood, President of Visionet.
About Visionet Systems
Cranbury, N.J.-based Visionet Systems is a full service mortgage consulting and business process outsourcing company that delivers products in the best-of-breed philosophy. Using a combination of consulting, metrics-based technology solutions and business process outsourcing, Visionet Systems helps lenders identify and remove inefficient processes to improve profitability. Founded in 1995, the company's customers include mortgage lenders and servicers. For more information, visit www.visionetsystems.com, email us at Clifford.johnson@visionetsystems.com or call 609-409-1063 x1116.
SOURCE: Visionet Systems
Visionet Systems Public Relations Cliff Johnson, 609-409-1063 x1116
Copyright Business Wire 2008
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