Alltel has donated $100,000 to the Mortgage Bankers Association of America's year-2000 readiness testing program.The contribution by the Jacksonville, Fla.-based software company will sponsor a portion of the MBA's Y2K testing that will facilitate coordination among third parties. "Coordinating the Y2K industry test is the best way to leverage resources and help protect our industry," said MBA executive vice president Paul Reid in lauding Alltel's commitment. The MBA's Year 2000 Industry-Wide Readiness Testing grew out of a subgroup of its Year 2000 Technology Committee. The subgroup is chaired by Lauren Meadows, Alltel's vice president of application development for its Mortgage Servicing Package. Alltel's website address is http://www.alltel.com.
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Regulators specifically called out Academy's directors for their failure to properly oversee operations and conduct audits in a consent order.
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The structure contains seven tranches of class A notes, including two tranches for first cash flow and last cash flow, both initially exchangeable.
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