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Housing Finance: HFCK a diamond in the rough

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mwekez@ji		#71 Posted : Monday, August 27, 2012 9:50:26 AM
Rank: Chief Joined: 5/31/2011 Posts: 5,121		mwekez@ji wrote: guru267 wrote: mwekez@ji wrote: the deal wrote: Pension backed mortgages is the next frontier http://bit.ly/OkG86c Another PLUS for HF.. More so for S&L!! Those gova pensions! @guru, you should know the biggest mortgage lender in the country. The one stop shop for mortgage solutions, HF! ... & you should also know that gova and NSSF have a substantial interest in HF!!
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guru267		#72 Posted : Monday, August 27, 2012 10:03:52 AM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		mwekez@ji wrote: mwekez@ji wrote: guru267 wrote: mwekez@ji wrote: the deal wrote: Pension backed mortgages is the next frontier http://bit.ly/OkG86c Another PLUS for HF.. More so for S&L!! Those gova pensions! @guru, you should know the biggest mortgage lender in the country. The one stop shop for mortgage solutions, HF! ... & you should also know that gova and NSSF have a substantial interest in HF!! GOK owns a miniscule 3.80% of HFCK GOK owns a substantial 18% of KCB... Mark 12:29 Deuteronomy 4:16
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mwekez@ji		#73 Posted : Monday, August 27, 2012 10:12:47 AM
Rank: Chief Joined: 5/31/2011 Posts: 5,121		guru267 wrote: mwekez@ji wrote: mwekez@ji wrote: guru267 wrote: mwekez@ji wrote: the deal wrote: Pension backed mortgages is the next frontier http://bit.ly/OkG86c Another PLUS for HF.. More so for S&L!! Those gova pensions! @guru, you should know the biggest mortgage lender in the country. The one stop shop for mortgage solutions, HF! ... & you should also know that gova and NSSF have a substantial interest in HF!! GOK owns a miniscule 3.80% of HFCK GOK owns a substantial 18% of KCB... The point is that GOK and NSSF also hold than 10% of HF. That's substantial. When it comes to mortgage business, be sure they will 1st visit the one stop mortgage shop, HF.
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mwekez@ji		#74 Posted : Monday, August 27, 2012 10:43:46 AM
Rank: Chief Joined: 5/31/2011 Posts: 5,121		@guru, notice the article is all HF and no KCB. That by itself speaks volumes
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guru267		#75 Posted : Monday, August 27, 2012 12:20:25 PM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		mwekez@ji wrote: When it comes to mortgage business, be sure they will 1st visit the one stop mortgage shop, HF. HFCK has a market share of 48% S&L has a market share of 35% With the recent revamping of S&L and its merger with KCB how much longer will HFCK hold the top spot?? GOK would prefer a partner with adequate capital, huge branch network, and significant influence (25% ownership in KCB).. S&L can lend up to 8billion per customer while HFCK cant even lend more than 1billion per customer! I do not see why i would pick HFCK over KCB to handle something of this magnitude.. Mark 12:29 Deuteronomy 4:16
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mwekez@ji		#76 Posted : Monday, August 27, 2012 12:47:55 PM
Rank: Chief Joined: 5/31/2011 Posts: 5,121		guru267 wrote: S&L can lend up to 8billion per customer while HFCK cant even lend more than 1billion per customer! I do not see why i would pick HFCK over KCB to handle something of this magnitude.. HF can lend KES 950M to one individual borrower. Tell me one single pensioner who will need more than KES 950M mortgage?!? HF has a unique way of taking care of its customers. A case in point is when industry rates shot above the roof and S&L squarely hammered its customers. HF did not. Who wouldnt want to be with such a mortgage shop?
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the deal		#77 Posted : Monday, August 27, 2012 1:03:20 PM
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery		Britak has pension schemes which HF can tape! KCB as a whole can't lend Ksh8bn to one customer, that's like 17% of KCB's total capital!
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mwekez@ji		#78 Posted : Monday, August 27, 2012 1:38:10 PM
Rank: Chief Joined: 5/31/2011 Posts: 5,121		@the deal, britak and HF have lots of synergies. That one is another, On KCB, it can. Check clause 3.1 of CBK prudential guideline Link The following said at the clause is a PLUS for HF The Central Bank of Kenya with the written approval of the Minister may authorize a mortgage finance company to give advances, credits, guarantees or incur liabilities whose values exceed 25% of core capital.
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guru267		#79 Posted : Monday, August 27, 2012 2:04:32 PM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		@the deal S&L can lend up to 8billion kshs PER CUSTOMER.. KCB is not small fry bro!! Mark 12:29 Deuteronomy 4:16
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dave.kim		#80 Posted : Monday, August 27, 2012 8:49:36 PM
Rank: Member Joined: 6/25/2010 Posts: 176		and remember equity n britak collectively own over 40% of HF and they continue to gather more shares. Mr Mwangi may still be eyeing majority stakeholder Rule No.1 is never lose money. Rule No.2 is never forget rule number one
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