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88 STATE OF AFFAIRS: SOUTH » Louisiana Ron NRBA Julien Donald Julien & Associates B R 1926 Wooddale Blvd Ste 101A, Baton Rouge, LA 70806 225 926 3449 Office | 225 931 2198 Cell 225 926 3475 Fax www.ronaldjulien.com IN THE NEWS Mortgage Contracting Services Announces 90-Job Louisiana Expansion Mortgage Contracting Services (MCS) CEO Caroline Reaves and Louisiana Gov. Bobby Jindal announced the company will create 90 new jobs in Ruston, Louisiana, while doubling the size of its business process outsourcing center to more than 20,000 feet. e company's expansion was originally slated to hire 90 new employees by 2017 to serve the mortgage industry but was able to begin hiring full-time in August 2012, bring- ing on all 90 employees three years ahead of schedule. e company plans to expand further, creating 90 new jobs. Gov. Jindal said, "We are proud that MCS is doubling its staff and continuing to invest in Louisiana. MCS joins a growing list of companies that are investing in Louisiana because we have fostered a positive business environment with a workforce that is second to none. Today's announcement is great news for Lincoln Parish and our state as we continue to build an outstanding business climate, provide new career opportunities and establish Louisiana as the next great state for business opportunity." Founded in 1986, MCS works with major mortgage servicing firms to maintain vacant properties and to protect and preserve neigh- borhoods from blight. "When we opened the Ruston center, we immediately knew that this community was a perfect fit for our company, but we still were a little surprised by the pace of growth," Reaves said. "We are in a position where we have almost met our five-year business plan in less than two years. at doesn't happen unless you have the support of the community and outstanding employees dedicated to client service." e company began working with the state of Louisiana and the city of Ruston's economic development office in January. Louisiana assisted MCS in using the state's enterprise zone incentive. "I would like to thank Caroline Reaves and the MCS family for the continued investment and job creation you have brought to Ruston," Ruston Mayor Dan Holling- sworth said. "MCS is truly a great fit for our community." IN THE NEWS Former Bank President Pleads Guilty to TARP Fraud e Federal Reserve Board announced the issuance of a consent order of prohibition against Darryl Woods, the former president and chairman of the board of directors of Calvert Financial Corporation. Woods also served as the former CFO and chairman of the board of directors of Mainstreet Bank. Both institutions are based in Ashland, Missouri. "Woods consented to the issuance of the order, which is based on his participation in unsafe and unsound practices, breaches of fiduciary duty, and violations of law and regulation in connection with his and the company's use of funds through the Troubled Asset Relief Program (TARP)," the board said in a release. Woods entered a guilty plea in August 2013 stemming from charges that nearly $400,000 of TARP funds intended to help fi- nance businesses and individuals in fact went toward purchasing a luxury condominium in Fort Meyers, Florida. Later, when questioned about the funds from the Special Inspector General (SIG- TARP), Woods failed to disclose the pur- chase of the condominium, which amounts to "a material misrepresentation of facts relating to the true use of at least part of the TARP funds." As a part of the order, Woods is prohib- ited from taking part in the affairs of "any insured depository institution or any holding company of an insured depository institution or any subsidiary of such holding company." Additionally, Woods pled guilty to a criminal charge in connection to the misuse of TARP funds. He was sentenced to a term of incarceration on March 27. Mississippi RANK: 22 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 5.28% 1.82% 7.6 YEAR AGO 5.37% 2.86% 9 YEAR-OVER-YEAR CHANGE -1.8% -36.3% -1.4 Top County TUNICA COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 11.23% 4.55% YEAR AGO 13.30% 1.02% YEAR-OVER-YEAR CHANGE -15.6% 345.6% Top Core-Based Statistical Area VICKSBURG, MS 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 9.27% 3.20% YEAR AGO 8.38% 4.18% YEAR-OVER-YEAR CHANGE 10.7% -23.4% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. In the first quarter of 2014, all-cash sales made up 44.4 percent of all sales in Louisiana, according to RealtyTrac. KNOW THIS Foreclosures made up 1.1 percent of total inventory in Mississippi, according to CoreLogic. KNOW THIS

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