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25-03-2014, 07:13 PM
#2891
Win most, lose some
Originally Posted by blackcap
Remember that they called the receivers in last year and almost certainly the HY accounts impairment provisions would have included an amount for this particular item [$5M13 of new individual impaired assets was added).
When this is all settled then they might have to write off more or less than the amount currently set aside.
Best Wishes
Paper Tiger
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27-03-2014, 03:58 PM
#2892
SP down to 86 cents ... another cent and we can buy the shares cheaper on market than what we paid through the SPP.
Huge sales overhang (600k at average 90 cents) and hardly any buyers (80k at average 84 cents) around.
Looks like the board missed a huge opportunity by not accepting over-subscriptions.
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27-03-2014, 05:14 PM
#2893
Maybe the SPP allocation to institutions should have been substantially less and the amount allocated to small investors should have been more.
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27-03-2014, 07:08 PM
#2894
Originally Posted by percy
With the latest announcement confirming they are on track,I think the interim, to be announced in late Feb , will also be positive.I am also looking forward to them making an acquisition/s ,which will project their future growth to new greater heights.
Posted on 03-01-2014.
The acquisiton was certainly a surprise,[was expecting $25mil to $35mil to be funded by cash reserves].The acquisition is a lot better deal than I could have hoped for.Sentinel is the dominate player is the reverse mortgage market.This market is growing with an ageing property owning population, and will grow quicker, with the security people will have dealing with the listed bank Heartland behind it.
Only the capital needed was raised .In fact the SPP was massively over subscribed.
The interim result confirmed the year's guidance is on track.
As we have come to expect Heartland declared an imputed dividend.
Where to now? Well, we now can have confidence Heartland will prosper with the improving NZ economy.We may even see another acquisition before 31st June balance date.Runs on the board is what Heartland had to do.They have certainly done that,and done it well.!
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28-03-2014, 12:30 PM
#2895
Yes...Impressive volumes of Heartland today at 86c.
Good to see.HNZ.jpg
Originally Posted by belgarion
Volumes are pretty pathetic. Those placing sells at 89c don't seem to be in any hurry. If you wanted a big stake - say a few million shares - you'd never get them at 86c and probably not even at 90c ... you might be able to "average" 90c though but I doubt that too.
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28-03-2014, 01:16 PM
#2896
It looks like some of the institutions who got a got a generous spp are trying to flick them on at a profit to private shareholders who got a severely throttled spp. At the moment, it looks like the private shareholders are not obliging!
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31-03-2014, 07:36 PM
#2897
David Chaston who writes in interest.co.nz no fan of reverse mortgages and is disappointed in Heartland
4. The pitfalls of reverse mortgages
I admit I am no fan of reverse mortgages when the lender is a bank or financial company. It is very disappointing to see Heartland Bank adopting this 'product' as a key element of their growth plans. The social sting in these arrangements can leave some very unpleasant outcomes. Dealbook has been looking at them in the US:
And links to this article from the US
http://dealbook.nytimes.com/2014/03/...gs&src=me&_r=0
Surely hnz won't ed up being this mean
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31-03-2014, 07:47 PM
#2898
Quote Be great if Heartland can refresh the reverse annuity model so the oldies see it as a viable option in future.cheers JT[/QUOTE]
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31-03-2014, 08:05 PM
#2899
I think people taking out reverse mortgages will be a lot better dealing with Heartland .
From the link you gave it appears to me the people complaining, are expecting to have their cake and eat it too.
ie "their inheritance has been spent keeping their parents in their home."Yes that's right.Yet, it was their parents, whose house it was,who decided to take out the reverse mortgage.Any one looking to take out a reverse mortgage will get legal advice,and this will be spelt out to them.Most will discuss this issue of reduced inheritance with their children.
From what I read US and UK governments are encouraging people to take out reverse mortgages,because it is seen to be good for their health and well being to stay in their home.
A bit much when the kids complain they did not inherit as much as they would have like."Damm dad was rotten enough to live too long, and spent all his money before we could get our hands on it.And we waited for years for the old sod to die!! ." Tough.
Its the same as buying a $70,000 car on HP.At the end of the day your car is worth $20,000 and you have paid the finance company $30,000 in interest. Toatal cost $100,000.Today's resale value $20,000. $80,000 done cold.! [approx. figures] .Tough.
If I lend money I want interest and the capital repaid when due. Tough.No, just good commercial practice.All banks are the same.
The tooth fairy died.[poor].
Last edited by percy; 31-03-2014 at 08:10 PM.
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31-03-2014, 11:29 PM
#2900
Touche Percy. And Heartland are savvy enough to modernise/ poplarize reverse mortgages. And re their Inheritage its quite sickening how little support many offspring give their parents anyway.
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