Word: fee
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...Sirius Value program is far from a slam-dunk fix for the housing slump. Under the program, which received a provisional patent from the U.S. Patent and Trademark Office last month, the developer or homebuilder must give 20% of the purchase price to Herzberg's group as a fee for the put option - a payment that many developers may be reluctant to cough up. "20% is astronomically high!," says one analyst, who did not wish to be named. "What builder would give away 20% when they're doing 5% or 10% [pretax] margins? If they gave away...
Joel Rassman, chief financial officer of luxury homebuilder Toll Brothers Inc., says the program sounds "expensive" to him, although he does say that a lower fee "might make the program worthwhile" in certain markets...
Andrew Herzberg shrugs off such concerns. He says it all comes down to how the assets are managed, how the real estate performs, and, if all else fails, a reinsurance contract. He says the 20% premium fee will be placed into an investment trust and actively managed over the eight year period. He says he has two banks, Wells Fargo and Credit Suisse, on board to manage the assets and even lend money against the home in year eight if needed. On top of that, he says talks are underway to bring in a reinsurer. "The reinsurers...
...Madison Equities and Andrew having worked as a trader at Rosenthal & Co., and Societe Generale. "We have collectively been in the real estate business - the parties combined - for about 60 years." He adds that the program would not be financially viable in the current environment, though, without the 20% fee...
...steal. My HUDS, a service that allows students to order bag meals that they can quickly pick up, is a helpful option; however, eating a cold ham and lettuce sandwich is a much different experience than eating a steaming hot eggplant parmesan sandwich. We are paying a hefty fee for our meal plan, with an individual dinner for a guest costing fifteen dollars without tax. We should be able to get the most out of this price. It makes little sense to drain our limited BoardPlus, or spend actual cash, on cooked food when there is a good...