Minimoke, notice issued yesterday by NZF to originators, hope it makes you and TTG feel a bit better!

By now many of you would have caught up with our recent news and market announcements that NZF Money Limited has gone into receivership.

Your clients Home Loan is with NZF Mortgages Limited and the service provider being NZF HomeLoans Limited. This part of the business is as they say “Business as Usual”.
Our home loans lending operations and funding facilities with Westpac Institutional Banking all remain in place and are unaffected by this development.

Further to our NZX market announcement of 10 June 2011, we continue to work with an Australian private company and remain confident that we can form a joint venture focused on Home Loan activities in the near future. As apart of this process, discussion has already begun around the introduction of a new brand name which will be announced in due course.

In the meantime, I have attached a copy of a letter that we will be forwarding to your clients.

So for now – It’s Business as Usual.



Quote Originally Posted by minimoke View Post
go to www.nzf.co.nz and click on the "investors" tab. It takes you to the Korda Mentha website. If that fill shareholders with confidence, good on ya!

If you read teh Annul a report ot says"On 10 June 2011, NZF Group limited entered into exclusive due diligence with an Australian private company over a staged period. It is expected that the party will support the home loan activities. the Australian partner which will have a majority stake in NZF’s home loan division and is vastly experienced in the Australian RmBS market and will add significantly to the current operations of this division." What do you reckon the chances of that deal going ahead?