All Forum Posts by: Paul Bommarito

@Bruce Coleman I have typically always been able to get through to someone when I call the office number and I ask to speak to investor relations. Michael has always done whatever he could to try and help me.

To @Paul Chapey’s point, I really wish they would share more frequent updates about what they are actually doing. It is a black box and whenever I have asked about their actual effectiveness at keeping borrowers in their homes/the performance, I never receive an answer. It definitely seems like they have added a significant number of senior people to help build out the servicing business, so I hope they are successful and provide better communication soon.

@Robert McKay I was told that it is due to an IL state tax withholding that was due for all investors. This is also apparently what caused the delay in the payment this month.

@Mark S. I spoke with Michael today at AHP and received an email from them. They said the distributions were delayed as a result of applying an IL state tax withholding due for investors. It sounded like there was a miscommunication, which resulted in the emails being sent out even though the payments had not fully been processed yet. They also told me the Servicing Fund K-1s are scheduled for be uploaded by the end of next week. Trying to give them a little grace right now as I am sure they are dealing with a lot on their end as well due to COVID, but I have had good communication with them the past couple days, which I appreciate. 

Interesting. I am still not seeing any distribution for my Servicing investment (10%) in my portal or bank account. I find it odd that they would send out the payment emails without confirming that it was at least showing in everyone's portal.

@Mark S. I am a little concerned yes. They are spending a lot of money to build the servicing business, primarily on hiring new people it seems like. But the revenues from it have not been growing fast enough to cover the expense growth or the monthly payment to investors. I am hoping they can figure it out soon and start finding more success, both on getting the non-performing loans performing again and driving revenue growth on the servicing side. I would appreciate more consistent and detailed updates from them as well. Hopefully they have enough cushion to wether the current environment and come out on the other side in a position to capitalize on opportunities that come as a result.

@Matt Gallacher I have reached out several times, and although they have been responsive each time, the timeline always extended. At first it was mid-March, then it was by the end of March, and the most recent response gave no timeline or update at all. My assumption is @Mark S. is correct given the extensions.

@Paul Chapey I have similarly always spoken with Brian both via email and on the phone. When I called a couple weeks ago, I spoke to a gentleman named Ray who informed me Brian had left AHP. I was just trying to find out why I was having such a hard time getting in touch with them, but it seems like this is why.

@Paul Chapey I was informed two weeks ago that Brian Hamilton is no longer with the company. A new gentleman named Michael responded to me in the evening yesterday. Sounds like they just have a new IR person who is getting ramped up 

Has anyone else had a hard time communicating with AHP lately? I have had a couple emails now go without response for a few days, and am having a hard time reaching anyone when I call the support number.

Thank you all for the insightful posts. The big points I took away after reading through them all are that I need to:

1. Craft a very strong why and vision/goals

2. Determine the most realistic option for me right now to start making progress towards that vision

3. Jump in and start learning through taking action

I know there were other great points, but these are what really stood out to me. I appreciate all of the advice and I hope anyone else who is struggling with this finds this thread helpful!