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Welcome to the major leagues of debt. Collateralized debt obligations, almost always referred to as a CDOs, are horrendously
complicated deals that often leave anyone without a MBA wondering what was put into these CDOs.
The first thing to
understand about bonds, (aka debt) is that bonds are often backed by something else. Think about your home mortgage. If you
don't pay your mortgage, the bank can take the house. You end up homeless, and the bank sells the house to pay off the rest
of that mortgage. There is something "backing" that mortgage; something lender can fall back on, if you don't pay your bills
like a good human being. That's called collateral.
CDOs are one flavor of an entire sector of investing called structured
finance, and they are also backed. CDOs, in the simplest concept, are just bonds backed by something else. In most cases,
a CDO is backed by a collection of various types of debt. CDOs can be home mortgages, or other types of debt like credit cards,
auto loans, and personal loans. Most of these types of debt are usually considered a bit more risky and they don't have the
backing that a home loan does. So, if you think it through, you can imagine that CDOs are usually considered a risky investment.
To take a step further, understand that CDOs have multiple flavors within each CDO. These flavors are called tranches. If you've taken French, you might recognize the word, it means "slice" or "portion." Each slice of that CDO you invest in is a little different and carries different amounts of risk.
You could invest in the lowest risk tranche of the CDO, which would
provide you lower risk. But, you don't get a good return on that investment. Or, you can be the heroic adventurer of bonds
and invest in the lowest-grade tranche of the CDO. You'll make an amazing return, but if the economy even looks at you wrong,
you might lose the entire investment.
CDOs aren¿t easy, and are almost always invested in by mutual funds, insurance
companies and hedge funds. As an individual investor, you will probably not come across a CDO you can participate in.
Home / Markets / Industries / Technology
Monday, May 19, 2008
Texell Federal Credit Union Selects Goldleaf Web Hosting and Marketing Services
Comtex
ATLANTA, May 19, 2008 (BUSINESS WIRE) ----Goldleaf Financial Solutions Inc. (NASDAQ:GFSI), a provider of integrated technology-based solutions designed to improve the performance of financial institutions, today announced that Temple, Texas-based Texell Federal Credit Union has selected the Company for Web hosting, including compliance and security functionality, as well as its marketing services.
With more than $100 million in assets, Texell wanted to drive the growth of its online channel, strengthen its Internet presence and reinforce its brand, while providing a secure forum to protect confidential data and comply with Federal regulations. According to Tony Hale, chief executive officer of Texell, what began as a simple evaluation of Web hosting providers evolved into a much more comprehensive endeavor, ultimately enabling the credit union to reap significant benefits from an extensive program that tied together multiple initiatives. In addition to Web design and maintenance, Texell's program incorporates Goldleaf's marketing services, which ties the global campaign together to ensure cohesive and consistent messaging. Goldleaf's marketing services include detailed market segmentation so the credit union can tailor specific marketing objectives to a particular audience.
"Goldleaf's value proposition was unique, as it presented a solution that truly went beyond our initial needs," Hale said. "Deploying Goldleaf's technology demonstrates our commitment to our members through the creation of an easy-to-navigate, intuitive Web site, fully equipped with security features to protect our members' confidential information. The site is customized, compliant, secure, and we were immediately impressed by the scope and depth of Goldleaf's offering. The marketing services piece was especially attractive, as it pulls together the look and feel of the new site and couples it with marketing initiatives designed to drive more business to our institution."
Texell is also leveraging Goldleaf's distinct security features, including secure sockets layer (SSL) encryption, SAS-70 audit reporting and the Company's Pharming Shield solution. Credit union executives also cited the flexibility of Goldleaf's solution as a factor in their selection process. Texell has the capability to edit and manage content internally, which maximizes the speed and accuracy at which online information can be updated and maintained. The site has multi-tiered authority to preserve the integrity of the data, as well as the ability for Texell to pre-create site changes that can be implemented on a timed rollout. Additionally, the solution has an automated system that archives changes to Web site content and images that will be tracked throughout the life cycle of Texell's relationship, ensuring compliance with Regulation DD in the Truth and Savings Act.
Todd Shiver, executive vice president of Goldleaf Financial Solutions, said, "Our mission is to help our clients succeed and leverage technology to improve efficiencies, increase profitability, be more competitive, and provide the best products and services in their market. Our entire company is dedicated to the development of innovative solutions that have a positive and direct impact on an institution's asset and customer base. Texell understands its members' needs and has a very strategic approach to Web and marketing services, which we believe enables them to stand apart from the competition."
About Goldleaf
Goldleaf Financial Solutions, Inc., offers a strategic suite of integrated technology and payment processing solutions to community financial institutions. Goldleaf's products and services enable community financial institutions to succeed in today's competitive market, solidify their trusted financial relationships, expand their community presence and improve profitability through the efficient use of technology. Goldleaf works with clients across six continents. For more information about Goldleaf and its set of solutions, please visit the Company at www.goldleaf.com.
Safe Harbor Statement
Certain statements made in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the Company is unable to predict or control, that may cause the Company's actual results or performance to materially differ from any future results or performance expressed or implied by such forward-looking statements. These statements involve risks and uncertainties, including, without limitation, risks and uncertainties associated with the ability of the Company's suite of products and services to enhance the competitiveness of its clients. These and other risks and uncertainties the company faces are detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company cautions investors that any forward-looking statements made by the Company are not necessarily indicative of future performance. The Company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services.
SOURCE: Goldleaf Financial Solutions Inc.
Goldleaf Financial Solutions, Inc. Jennifer-Robyn Meier, 678-336-6540 or Heather Cunningham, 678-264-8011
Copyright Business Wire 2008
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