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  1. #11851
    An Awesome Cool Cat winner69's Avatar
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    Quote Originally Posted by Joshuatree View Post
    Ive just seen this post from KW elsewhere. That last sentence is a bit spooky!!!!!

    From today's AFR

    "Bankwest and CBA have also started the new year by withdrawing reverse mortgages, the last of the major lenders to pull out of the $3.1 billion sector amid rising costs and tougher regulation.
    It will withdraw the product for new borrowers but continue for existing.
    Westpac Group, the nation's second largest lender, and Macquarie Bank, withdrew from the market about two years ago.
    A reverse mortgage borrower can take the funds from the equity in their house as a lump sum, regular income stream, cash reserve, or a combination of all three.
    CBA and Bankwest's decision to quit new lending means reverse mortgages are now only being offered by smaller lenders, such as Heartlands Seniors' Finance, IMB Bank and P&N Bank.

    The federal government is expected to enter the market with a low-cost reverse mortgage scheme that will provide an alternative to the private sector." !!!!!!!!!!!!!!!!

    No worries here JT

    Only limited top ups to pensions and to be taken in cash .....no lump sums that are the attraction of a proper HER scheme.
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  2. #11852
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    Thanks w69; for some reason i missed percys response saying much the same.The plus is less competition!

  3. #11853
    ShareTrader Legend Beagle's Avatar
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    Less competition generally leads to more business at higher margins and they already have strong growth. Hmmmmm
    No butts, hold no mutts, (unless they're the furry variety).

  4. #11854
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    Quote Originally Posted by Beagle View Post
    Less competition generally leads to more business at higher margins and they already have strong growth. Hmmmmm
    Add in "increased demand" and it ought to be a rosy looking picture.

  5. #11855
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    Quote Originally Posted by minimoke View Post
    Add in "increased demand" and it ought to be a rosy looking picture.
    No question that this part of the business is looking very rosy and exciting. The growth requires a lot of cash. That borrowing and meeting the potential new RBNZ liquidity requirements will require very careful balance sheet management. Personally I think suspension of dividend should be one of the many options considered but realise this will not happen. But maybe they could raise the DRP discount a little more to entice us SH further to sign up for it !
    Last edited by iceman; 17-01-2019 at 11:16 AM.

  6. #11856
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    Quote Originally Posted by Beagle View Post
    Less competition generally leads to more business at higher margins and they already have strong growth. Hmmmmm
    Heartland already has a banking facility with cba bank for its reverse mortgage book so why not a little more and take cba reverse mortgages off their hands....over the years as cba has less repverse mortgages left the cost to administer these will In crease so why not on sell to heartland now

  7. #11857
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    Quote Originally Posted by ziggy415 View Post
    Heartland already has a banking facility with cba bank for its reverse mortgage book so why not a little more and take cba reverse mortgages off their hands....over the years as cba has less repverse mortgages left the cost to administer these will In crease so why not on sell to heartland now
    Smart option Ziggy

  8. #11858
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by ziggy415 View Post
    Heartland already has a banking facility with cba bank for its reverse mortgage book so why not a little more and take cba reverse mortgages off their hands....over the years as cba has less repverse mortgages left the cost to administer these will In crease so why not on sell to heartland now
    My rating BBB+, Beagle Busy Buying
    Dairy prices rising nicely lately so HGH's SP is highly likely to follow. Sounds ridiculous but the historical correlation between the two provides startling evidence over a very considerable period of time supporting this rather bizarre proposition.
    Some of the American banks had a huge night overnight on Wall St, who knows, maybe HGH spending time in the doldrums,is nearly at an end.
    Last edited by Beagle; 17-01-2019 at 12:21 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  9. #11859
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    Quote Originally Posted by iceman View Post
    No question that this part of the business is looking very rosy and exciting. The growth requires a lot of cash. That borrowing and meeting the potential new RBNZ liquidity requirements will require very careful balance sheet management. Personally I think suspension of dividend should be one of the many options considered but realise this will not happen. But maybe they could raise the DRP discount a little more to entice us SH further to sign up for it !
    The last DRP didn’t even make up for the $15m reduction in equity from the increased doubtful debt provision needed to comply with new accounting standards
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  10. #11860
    percy
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    Quote Originally Posted by winner69 View Post
    The last DRP didn’t even make up for the $15m reduction in equity from the increased doubtful debt provision needed to comply with new accounting standards
    Comparing a "one off" [to comply with new accounting standards] to an "ongoing" DRP is misleading.

  11. #11861
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    Quote Originally Posted by percy View Post
    Comparing a "one off" [to comply with new accounting standards] to an "ongoing" DRP is misleading.
    All I was saying that that share equity was reduced because of the increased provision .....and the new capital from the last DRP wasn’t enough to get shareholder equity back to where it was.
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  12. #11862
    percy
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    Quote Originally Posted by winner69 View Post
    All I was saying that that share equity was reduced because of the increased provision .....and the new capital from the last DRP wasn’t enough to get shareholder equity back to where it was.
    Agreed,however the affected shareholder equity is at HGH,not necessarily at Heartland Bank.
    Perhaps the interim report will give us more clarity as to what equity HGH are confortable with.[We know already what the bank's equity has to be].

  13. #11863
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    Default A 64 million dollar mystery

    i have been looking through Heartland's lending to industry sectors (AR2018 Note 18c) and noticed an inconsistency between the business done in the 'Finance and Insurance' Sectors in FY2017. In the FY2018 report $64.286m from the finance and insurance business has apparently been reclassified from 'Finance & Insurance' to that catch all net of 'Other'.

    HBL (FY2017) from AR2017 HBL (FY2017) from AR2018
    Agriculture Forestry & Fishing: $836.977m (21.3%) $836.977m (21.3%)
    Mining: $19.006m (0.5%) $19.006m (0.5%)
    Manufacturing: $76.445m (1.9%) $76.445m (1.9%)
    Finance & Insurance: $395.804m (10.1%) $331.518m (8.4%)
    Retail & Wholesale Trade: $188.941m (4.8%) $188.941m (4.8%)
    Households: $1,717.407m (43.7%) $1,717.407m (43.7%)
    Property & Business Services $347.776m (8.8%) $347.776m (8.8%)
    Transport & Storage: $179.016m (4.6%) $179.016m (4.6%)
    Other Services: $169.867m (4.3%) $234.153m (6.0%)
    Total $3,931.239m (100%) $3,931.239m (100%)

    I wondered if any reader could explain why $64.286m worth of finance and insurance business suddenly disappeared into another box? Heartland is a finance company after all. And if they can't decide what part of their business lending is classified as 'finance', that has to be a worry!

    SNOOPY
    Last edited by Snoopy; 26-01-2019 at 10:05 AM.
    To be free or not to be free. That is the cash-flow question....

  14. #11864
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    https://go.harmoney.com/rs/915-LSX-1...ekRCSWp5In0%3D
    Harmoney put out an interesting guide to buying a car - this bit struck a chord with me.
    If money was no concern, we’d all buy new cars - aside from that enticing new car smell, driving a new car means enjoying the latest in automotive technology and (in theory) years of hassle-free motoring. In reality, these advantages are probably overstated
    One new car I have bought in the last 20 years had no issues and I remember it fondly. The rest all had at least one issue and the current one...oh dear !
    It seems to me that buying a new car or shares off private equity firms in the Chinese year of the dog is likely to end you up with the buyer owning puppies.
    Chinese year of the dog ends on 4 February...maybe OCA shares and my other pup will come good shortly thereafter...
    Last edited by Beagle; 28-01-2019 at 06:54 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  15. #11865
    percy
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    Motor vehicle lending is a good sector to be in.

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