[Wine] Andrew Vaughey, Timeshare Loans: New Year, New Mortgage Options
candyshop999 at gmail.com
Fri Jan 4 07:54:41 CST 2008
Andrew Vaughey, Timeshare Loans: New Year, New Mortgage Options
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.
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.
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.
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
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.
Vacation Finance's new program also allows for cross-collateralization of
other real estate assets to improve financing rates, payments and options.
"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.
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