Andrew Vaughey, Timeshare Loans: New Year, New Mortgage Options<br><br><br><br> Detroit, MI (PRWeb) January 3, 2007 -- An innovative new approach
to timeshare finance is to be test-marketed with select developers in
the US and Caribbean beginning January 12. <br>
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Vacation Finance, America's First Second-Home Lender,
has created a unique loan solution for small to mid-size timeshare
developers who currently portfolio as little as $250,000 in timeshare
receivables. <br>
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The improved interest rate options will allow developers to fund in
smaller increments and with less overhead costs. Risk-based criteria
has been created to improve pricing in multiple ways. <br>
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Seasoning has long been a basis for underwriting the quality of
timeshare receivables, Vacation Finance has enhanced the yield for
developers who do not wish to season their portfolio for more than 90
days before selling the loans. <br>
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Credit score is another standard that has become inseparatable to loan
quantiative methods. Vacation Finance will still implement credit
scoring guidelines, but will use alternative credit methods that allow
more borrowers to obtain financing when credit worthiness can be
established. Blending methods will open opportunities for many
vacationers.<br>
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Vacation Finance's new program also allows for cross-collateralization
of other real estate assets to improve financing rates, payments and
options.<br>
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"Our new criteria and methods, we believe, is a big step forward for
the timeshare finance marketplace, our background in consumer home
loans, condo hotel and fractional financing brings a fresh perspective
to this dynamic industry," said Bob Waun, CEO of Vacation Finance.<br>
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