Product Updates
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GOLD ARBITRAGE 4/1/10
We are now in the gold market as a arbitrage seller to refineries. We may concider making an offer to sell to buyers through 3rd party brokers for a limited time.
HEP has opened "Gold Fund Direct" which is offering a per share opportunity to investors to partake in the gold arbitrage business. Our returns are estimated at 10-15% per transaction with a minimum of 1 transaction per month. More details available on the gold fund tab.
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PRIVATE BANKING FOR SUPER JUMBO LOANS 7/14/2010
We are looking for residential OOC and 2nd homes, with loans from 1 million to 20 million plus.
Borrowers that qualify, have a minimum of 500K in annual income, 500k to 1 million in liquid reserves and a total net worth of 3-5 million dollars, credit is NOT a qualification. If you have anything less email the scenario and we will look for compenating factors. To submit please provide: CIS form ONLY , when we approve this form, please send the additional info fannie mae file, credit, appraisal, 2 yrs tax returns ( business and personal ) and asset statements.
Qualifications: 70- LTV or lower, DTI not based on filed returns, Credit not a factor.
Higher LTVs to 100% can be acquired by cross collateralizing additional property, cash and /or securities
Terms are 2 % over the 6 mth LIBOR with the ability to lock or cap rates, 5 yr fixed at 4.75 and 10 yr fixed at 5.5, interest only
Income : Must show 2 yrs Business and or personal tax returns (we must see cashflow and sufficient post closing reserves.)
Email a scenario or download the Mortgage CIS form ( located in the left margin ) for residential loans here for review and email or fax to us with the brokers to be paid and the fees, this will get you a quicker response.
To submit a scenario: Send the CIS form for review, to PrivateEquity@HarbourEquityPartners.com or Fax 631.991.9142
We will approve and request the Point file or fannie mae file, Income, credit, asset reserve statements, appraisal & total fees to the broker. We will require a call with the borrower and ask that you set that up. We then issue disclosures, and package the loan for our underwriters. Note: From this point our staff has the dialog with the borrower until closing.
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ASSET PORTFOLIO FINANCING
We have the ability to lend against any publicly traded stock or financial instrument. Stocks, Bonds, CDs, Treasury Strip, CMOs (government CMOs, no Corporate), ETFs, Trust accounts, etc.
These loan can be a line of credit, or a margin line against the asset. For stock loans we have the ability to implement a synthetic hedge against margin calls at a nominal cost to the borrower. These loan can be 100% Non Recourse to the borrower. Loans can go as high as 95% of the value of the portfolio. It is important to note that we prefer to move all securities that are being considered for a loan to our investment banking relationships, this avoids many of the problems in inherent in these investments and allows us to get to funding much quicker.
Perfect for the borrower who does not want the lengthy unpredictable underwriting associated with a real estate loan.
NO CREDIT CHECK! NO INCOME DOCUMENTATION! NO APPRAISALS!
This product can fund inside of a week.
REQUIREMENTS
Bond or asset monetizing Procedures,
- Send over a copy of the Bond, CMO or asset, if no copy send the CUSIP or ISIN #s
- We will review and want the borrower on the phone asap , with the underwriter or banker
- We will look to get our disclosures out to the borrower ,, so we need to know the fees that need to be included on the broker side
- Disclosures come back we will send account docs and a transfer form for the borrower to open an account and transfer the securities/assets to our investment bank
- Next we will have a KYC call to “know your client “, which is standard in the banking world, especially today
- we will also need financials on the borrower company to get an understanding of who they are and what they do
When the securities are transferred we will then work to monetize them with in 3 days for the account being opened,
This usually closes in a week
What's needed
1. copy of the client's driver's license
2. entire copy of the statement to be transferred in. (which would include account titling).
3. the client info sheet filled out ( download the New client CIS form in the left margin )
** if this account is going to be titled in the name of a trust. I need
the trust doc as well. If it is to be a business account, then I need
all supporting business docs - ie . Articles of inc. or LLC, or whatever
they have used to apply to the state for.
To submit: Send the CIS form for review with the statement for the asset to be considered for a loan, we will get a market on the asset and see if the asset is loan eligible. Once approved we will request a call with the borrower and ask that you set that up. We then issue disclosures, and package the loan for our underwriters. Note: From this point our staff has the dialog with the borrower to closing.
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WIND FARM PROJECTS 9/1/09
We are currently looking for wind farm operators, new wind farm projects and locations for our own brand of equipment.
We are proceeding with the manufacturing and deploying of a new design of wind turbine that will integrate several new technologies. Our new design will provide more power then the conventional propeller design, and we will have a unique storage option that can help deliver power to the grid as its needed, which will also give us a premium to the power purchase agreements with the utilities. Feel free to email any scenarios on potential projects.
For more info please contact: PrivateEquity@HarbourEquityPartners.com