NZF Group (NZF and NZF010)

[Tony Two Gloves]

Actaully I don't mind going first.....

1 I have never borrowed from NZF or applied to do so.
2 I have held shares in NZF on several occasions but currently have no shares or notes.
3 IMO I have always advised people not to listen to the directors but gather the facts from S&P, Covenant and auditors and now the receivers. In hind sight this has been spot on. For a company that builds their reputation as being different from all the failed finance companies they have proved to be just the same, it just took a little longer.

I hate seeing people getting scewed over and everyone here has (debenture holders, shareholders and note holders) whilst NZF continues painting a rosy picture.

Anyway, your turn now Invessi.

[Enumerate]

TTG, have you ever had business dealings or relationship with NZF (beyond occasionally owning shares or notes)?

[invessi]

Actaully I don't mind going first.....

1 I have never borrowed from NZF or applied to do so.
2 I have held shares in NZF on several occasions but currently have no shares or notes.
3 IMO I have always advised people not to listen to the directors but gather the facts from S&P, Covenant and auditors and now the receivers. In hind sight this has been spot on. For a company that builds their reputation as being different from all the failed finance companies they have proved to be just the same, it just took a little longer.

I hate seeing people getting scewed over and everyone here has (debenture holders, shareholders and note holders) whilst NZF continues painting a rosy picture.

Anyway, your turn now Invessi.

TTG, I am a share investor and I have some shares in NZF, I have also had past business dealings with them, whilst the current picture is not pretty, I still believe they have a future, particularly as the non bank residential mortgage sector (a potential $10b market) has considerable potential for growth, as does the RMBS market, the new partner will allow for some acceleration in my view! I receive the company's reports and I do look at them closely, I have no cause to believe that there has been any inaccuracies in their reporting. There have been suggestions that they have used outdated valuations for refinance, I very much doubt that, it goes against their covenants! As for Mike Pero Real Estate, I am getting feedback from friends who are in real estate and MPRE are starting to get traction!

[invessi]

GENERAL: NZF: NZF - Continuous Disclosure 27-09-11

Further to the announcement of 10 June 2011, NZF is pleased to announce that
it has entered into a conditional Sale and Purchase Agreement with Resimac NZ
Home Loans Limited (RML) which will see RML acquire a majority shareholding
in NZF's home loan securitization operations. There are a number of
conditions to be satisfied with the major ones being:

- Completion of a Shareholders Agreement which will among other
matters, give NZF certain minority protection rights.
- Receipt of certain IRD taxation rulings.
- NZF shareholder approval.

As the transaction will constitute a 'major transaction' under the listing
rules (but not the Companies Act 1993), shareholder approval by ordinary
resolution is required and corporate advisory firm Campbell Macpherson
Limited has been commissioned to prepare an independent report which will
accompany the notice of meeting to assist sha
reholders. All conditions are
expected to be satisfied on or before 30 November 2011 with settlement
shortly thereafter.

The signing of this agreement follows an extensive period of due diligence
which has been referred to in previous market announcements and NZF is
excited with the prospect of having RML as a partner in its home loan
business and the significant growth opportunities this will bring. RML's
parent is one of Australia's most respected non-bank lenders, providing
funding via its established and longstanding partners and to date having
funded more than A$12b.

ENDS
End CA:00214262 For:NZF Type:GENERAL Time:2011-09-27 11:21:53

[invessi]

Pero has high praise for low commission model

Thursday 22 September 2011


QV August 2011 – the regions
Mike Pero has hailed the success of his ‘next generation’, low commission real estate company, announcing it has established 17 franchise owners and a total of sales force of 23 between Auckland and Christchurch.

Mike Pero Real Estate launched in February this year and in May the first agents came on board in Auckland and Canterbury, offering the promised commission rate of 2.95% (plus GST), below the national average for real estate commissions from the major industry players or around 4% (plus GST).

"We did our market research before we launched and found that New Zealanders wanted lower commission rates, without compromising on service," said Pero.

"Our next generation culture and philosophies have hit a note with New Zealanders, and we're growing ahead of our expectations."

He said the Mike Pero business model was able to provide a lower commission structure by reducing middle management, new marketing technology and less bricks and mortar.

"We look at the traditional industry procedures and styles and question their effectiveness – we embrace online technology, innovative marketing and forward thinking - these are our points of difference that allow us to offer a better proposition to the vendor."

Pero said that on average, the lower commission rate of 2.95% would save sellers between $3,000 and $8,000, depending on the sale prices and other office commission rates.

"At a time when every cent counts that's a huge saving - for many people that could be a couple of months salary."

He also attributed the fact that Mike Pero Real Estate agents generally own their own franchises for their success in attracting top agents.

"Our model gives them the opportunity to build a business, not just a job, and acquire equity that could one day provide for their retirement, or at least a lump sum of cash."

The company aims to recruit from the top 20% of agents, "and there is no room for complacency - it ends up adding to the operational costs, which typically gets added on to the customers' fees."

[minimoke]

GENERAL: NZF: NZF - Continuous Disclosure 27-09-11

Further to the announcement of 10 June 2011, NZF is pleased to announce that
it has entered into a conditional Sale and Purchase Agreement with Resimac NZ
Home Loans Limited (RML) which will see RML acquire a majority shareholding
in NZF's home loan securitization operations.

Took a while in coming but looks like they are nearly there.

[minimoke]

Pero has high praise for low commission model

You wouldn't expect him to say much different would you. Another advertorial dressed up as news. And it isn't really news is it? It copying the Kiwibank low brick and mortar model and 1% commission are freely available in the market.

[invessi]

You wouldn't expect him to say much different would you. Another advertorial dressed up as news. And it isn't really news is it? It copying the Kiwibank low brick and mortar model and 1% commission are freely available in the market.

Well, its the first meaningful release of information on how the new venture is developing, I am aware that in the bays area of Auckland where I live, they are getting properties away!

[Xerof]

So is this a take out of Westpac funding the SPV? What does this do for NZF other than put Resimac as the owner/funder of the securitisation vehicle?

[invessi]

So is this a take out of Westpac funding the SPV? What does this do for NZF other than put Resimac as the owner/funder of the securitisation vehicle?

The Australian model is that they have selected brokers who visit clients, enter the data into the Resi software and if it fits, they issue a loan offer on the spot.....watch this space!