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Housing Finance: HFCK a diamond in the rough
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obiero
#191 Posted : Thursday, September 20, 2012 12:32:57 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,304
Location: nairobi
my KES 0.70 per share interim dividend has checked in and more so js about on time with an acceptable one day delay. HFCK is the last mbus. Wazuans had better not be left behind
COOP, IMH, KEGN, KQ, MTNU
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VituVingiSana
#192 Posted : Thursday, September 20, 2012 1:59:58 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,369
Location: Nairobi
hisah wrote:
High Court Ruling In Mortgage Dispute - http://www.the-star.co.k...to-kenya-to-do-business

Quite interesting this case. Now with the new land laws, the hammer has swung to the client with the banks becoming the anvil... Oh, that pounding will hurt...
I warned folks about the potential issues with the new land laws. Caveat Emptor.
*On all other metrics I like HFCK. The new land laws scare me as an investor*
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mwekez@ji
#193 Posted : Thursday, September 20, 2012 9:16:41 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
guru267 wrote:
mwekez@ji wrote:
You got it all wrong and that is very scary. A guru of your status should know better. Only then will you comprehend the unique lending models adopted by HFCK and why it will continue being the leader of the mortgage industry with good quality assets.


Help me understand what I have got all wrong!

You were the one that said all customers of HFCK pay one effective rate!
You were the one that said that HFCK did not attach risk premiums to their dear customers

Which unique lending models calculate ONE rate for all customers?? It sounds pretty basic to me! smile


Recap for your comprehension:

1.The rate given by HF is effective rate and no risk premium is loaded thereafter.

2.Special classes of borrowers get lower rate than the effective rate that is made public.

3.These HF pricing models are unique from the exploitative models applied by other lenders who quote base rate and then load high risk premium on the borrower
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mwekez@ji
#194 Posted : Thursday, September 20, 2012 9:31:50 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
hisah wrote:
High Court Ruling In Mortgage Dispute - http://www.the-star.co.ke/natio...-to-kenya-to-do-business
Quite interesting this case. Now with the new land laws, the hammer has swung to the client with the banks becoming the anvil... Oh, that pounding will hurt...
I warned folks about the potential issues with the new land laws. Caveat Emptor.
*On all other metrics I like HFCK. The new land laws scare me as an investor*


deceiving¿ Where did the new land laws influence the outcome of the case?
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hisah
#195 Posted : Thursday, September 20, 2012 9:52:23 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
mwekez@ji wrote:
VituVingiSana wrote:
hisah wrote:
High Court Ruling In Mortgage Dispute - http://www.the-star.co.ke/natio...-to-kenya-to-do-business
Quite interesting this case. Now with the new land laws, the hammer has swung to the client with the banks becoming the anvil... Oh, that pounding will hurt...
I warned folks about the potential issues with the new land laws. Caveat Emptor.
*On all other metrics I like HFCK. The new land laws scare me as an investor*


deceiving¿ Where did the new land laws influence the outcome of the case?

The point is, this case was won using the crude law. Now how many such cases can the banksters win with the new land laws?
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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VituVingiSana
#196 Posted : Thursday, September 20, 2012 10:36:01 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,369
Location: Nairobi
hisah wrote:
mwekez@ji wrote:
VituVingiSana wrote:
hisah wrote:
High Court Ruling In Mortgage Dispute - http://www.the-star.co.ke/natio...-to-kenya-to-do-business
Quite interesting this case. Now with the new land laws, the hammer has swung to the client with the banks becoming the anvil... Oh, that pounding will hurt...
I warned folks about the potential issues with the new land laws. Caveat Emptor.
*On all other metrics I like HFCK. The new land laws scare me as an investor*

deceiving¿ Where did the new land laws influence the outcome of the case?

The point is, this case was won using the crude law. Now how many such cases can the banksters win with the new land laws?
Hmmm, I mis-spoke. I remain queasy until a case is tried & a precedent set. I think the laws are populist but the banks are partly to blame. As is the slow 'justice' system.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mwekez@ji
#197 Posted : Thursday, September 20, 2012 10:46:46 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
hisah wrote:
mwekez@ji wrote:
VituVingiSana wrote:
hisah wrote:
High Court Ruling In Mortgage Dispute - http://www.the-star.co.ke/natio...-to-kenya-to-do-business
Quite interesting this case. Now with the new land laws, the hammer has swung to the client with the banks becoming the anvil... Oh, that pounding will hurt...
I warned folks about the potential issues with the new land laws. Caveat Emptor.
*On all other metrics I like HFCK. The new land laws scare me as an investor*

deceiving¿ Where did the new land laws influence the outcome of the case?

The point is, this case was won using the crude law. Now how many such cases can the banksters win with the new land laws?
Hmmm, I mis-spoke. I remain queasy until a case is tried & a precedent set. I think the laws are populist but the banks are partly to blame. As is the slow 'justice' system.


Time will test the new land laws and like the norm, cases will be won and some lost. The fear of the new land laws is overblown. Never will any country draft a law to crumble the financial system
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VituVingiSana
#198 Posted : Thursday, September 20, 2012 10:51:02 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,369
Location: Nairobi
mwekez@ji wrote:
VituVingiSana wrote:
hisah wrote:
mwekez@ji wrote:
VituVingiSana wrote:
hisah wrote:
High Court Ruling In Mortgage Dispute - http://www.the-star.co.ke/natio...-to-kenya-to-do-business
Quite interesting this case. Now with the new land laws, the hammer has swung to the client with the banks becoming the anvil... Oh, that pounding will hurt...
I warned folks about the potential issues with the new land laws. Caveat Emptor.
*On all other metrics I like HFCK. The new land laws scare me as an investor*

deceiving¿ Where did the new land laws influence the outcome of the case?

The point is, this case was won using the crude law. Now how many such cases can the banksters win with the new land laws?
Hmmm, I mis-spoke. I remain queasy until a case is tried & a precedent set. I think the laws are populist but the banks are partly to blame. As is the slow 'justice' system.

Time will test the new land laws and like the norm, cases will be won and some lost. The fear of the new land laws is overblown. Never will any country draft a law to crumble the financial system
Populism. The politician panders to the lowest common denominator. Look at the agricultural sector. Those laws have destroyed the pyrethrum sector, decimated coffee & lots of problems in the sugar industry.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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hisah
#199 Posted : Thursday, September 20, 2012 12:39:47 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
The web is quite interesting if you start digging for information. I wonder how many people are aware that this KE site exists - http://www.irac.co.ke - Interest Rates Advisory Centre - as per their website they are located at Ambassador Court, Block A, Flat No. 3, Milimani Road (Directly Opposite Heron Hotel, next to former CID Hqtrs).

From the site I can see a number of HF cases...

http://bit.ly/S9vJNg - HF's penalty interest charges.
http://bit.ly/S9vJNg - Class action against HF

They also have some case studies - http://www.irac.co.ke/cstudies.html

Is this organization in existence to date?
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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sparkly
#200 Posted : Friday, September 21, 2012 12:39:30 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
No more new money to throw into this thing. I think i will take profit in Safcom and throw it in.
Life is short. Live passionately.
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