The J.G. Wentworth Company is a diversified consumer financial services company. The Company is focused on providing direct-to-consumer access to financing needs through a variety of solutions, including: mortgage lending and refinancing, personal and business lending, annuities and structured settlement payment purchasing, and prepaid cards. The firm is currently traded publicly on the NYSE (Symbol: JGW).
In the United States the company is most commonly known for its advertising commercials that feature "Mr. Wentworth", but more recent commercials include a Wagnerian Opera singer.
The tagline featured in the commercials is "It's your money, use it when you need it!"
History
J.G. Wentworth was Founded in 1991 as a merchant bank specializing in transactions in the healthcare industry. In 1992 the company began to purchase New Jersey's auto insurance deferrals from claimants who could not afford to wait 12 to 18 months for their settlements.
By the late 1990s, JGW began to focus on the structured settlement and annuity business. JGW has issued 34 securitizations, which are backed by both structured settlements and annuities receivables totaling over US $2.3 billion. In July 2012, the company completed $169.5 million securitization of notes that were backed by structured settlement and fixed annuity payments. The earliest securitization of 2012 was in March, for US $244 million with Class A notes rated Aaa by Moody's and AAA by DBRS. Since 1992 JGW has purchased US $4 billion in future payment obligations from consumers. As of November 2010, the company has completed a US $212 million securitization consisting of two classes of notes: Class A notes rated Aaa and Class B notes rated A2 by Moody's Investors Service, in addition to a Residual Class of US $14.8 million retained by the Company.
Prior to 1999 there was no state regulation for structured settlements in the state of New York. Eliot Spitzer entered into a contract with J.G. Wentworth to help protect New Yorkers from selling their settlements at exorbitant rates. The agreement stipulated that J.G. Wentworth could receive a rate of no more than 25 percent of the annual discount rate of annuities it had purchased from a citizen of the state of New York. At the time, a JGW executive told the New York Times that the firm sought the agreement because of the rate at which its business had grown in recent years.
In 2015, J.G. Wentworth began expanding their financial offerings by purchasing WestStar Mortgage for $54 Million in cash and Class A common shares. In the same year, the company also announced a partnership with Visa to offer a prepaid card to customers, as well as a partnership with Avant_(company) to connect callers looking for loans and other financial assistance not previously offered by J.G. Wentworth.
How Does Jg Wentworth Work Video
Commercials and awards
The commercials that run on daytime television in the United States featuring "Mr. Wentworth" are how the company is best known. They have had many series of commercials with Mr. Wentworth, however the most recent series includes a Wagnerian Opera singer, also known as the Viking singer. The tagline featured in the commercials is "It's my money and I need it now!", and "It's your money, use it when you need it!"
JGW has won several awards both domestically and internationally for their television advertising, including a silver Davey award. The commercials feature a singing "Opera" star who recites in a deep voice "if you get long-term payments and you need cash now!". The "Wagnerian Opera" commercial won two International Summit Awards for Best Humor and Best TV between US $75k and US $100k.
Reorganization
During the financial crisis of 2009, the firm known as JGW Holdco LLC and two of its subsidiaries, J.G. Wentworth LLC and J.G. Wentworth Inc., entered Chapter 11 bankruptcy protection after the company "encountered liquidity problems amid a tightening credit market".
Less than six months later, parent company JLL Partners of New York invested $100 million in the firm. Subsequently, J.G. Wentworth began hiring new staff at corporate headquarters located in Bryn Mawr, Pennsylvania. Since the crisis, JGW has since increased staff to 178 employees. In October 2013, the firm filed for an IPO, which was offered the subsequent month (November).
Are You Looking for Products
Here some products related to "J.G. Wentworth".
Fast and Healthy LUNCH Re..
One Second After: William..
Get these at Amazon.com* amzn.to is official short URL for Amazon.com, provided by Bitly
Source of the article : here
EmoticonEmoticon