JGWentworth.com are leading buyers of illiquid financial assets.
Description
Founded in 1991, J.G. Wentworth started as a merchant bank handling 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 of 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. Elliot 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.
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.[23] 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.
Excerpted from the website:
- J.G. WENTWORTH
- J.G. Wentworth is the undisputed leader in the structured settlement industry. This claim is substantiated by our longevity, the dollar volume of our transactions, the AAA Ratings on our financings, and the contribution we have made to the legal framework that regulates the funding of structured settlements.
Languages
English
Address
- 40 Morris Ave
- Bryn Mawr, PA 19010
Contact
- (800) 454-9368
Additional Information
Related Domains
External Links
- Annuity
- Annuity Buyer
- Buyer Of Structured Settlement
- Cash For Structured Settlement
- Cashflow
- Factoring Company
- Future Payment
- Insurance Settlement
- Mortgage Note Buyer
- Purchase Annuity Payments
- Purchase Settlement Payments
- Sell Annuity Payments
- Sell Future Payment
- Sell Lottery Payment
- Sell Structured Settlement
- Structured Settlement
- Structured Settlement Payments
- Structured Settlements
- Trust Deed
- Wentworth
- Settlement
- Cash
- Factoring