Vendor Finance Association Kaput?

Robert. I think i gave you a copy of a NSW wrap contract about 6 months ago? Maybe it was someone else.

I also noted the following comment from the interview:
“Rick…………I’m aware they are there but I’ve never been to one of Steve’s seminars”

I recall meeting Rick at Steve’s seminar in Sydney in approx 2001 or 2002.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email me

Terry, yes you did. Thank you very much for it. That is why I am so hesitant about paying for the wrap packs unless it is NSW specific information that I need.

So if Rick lies about something like that, what else does he lie about? Does that not indicate he is not a trustworthy guy?

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd

Paul,

I was referring to a blatant lie by Rick. This goes to honesty and integrity.

A good way to save the VFA is to get someone in charge who is not a “spruiker”. You need your average every day mum or dad investor who is involved with vendor finance to be the figure-head. That way it will give it a more realistic look and feel.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd

My mistake.

I am not a member so I was just throwing an idea into the pot as no-one else seems to be coming up with any ideas.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd

I am not implying anything about you Michael. I don’t even know who you are.

A “spruiker” is someone who promotes things like investment seminars etc. They would not be considered impartial for a role like the president of the VFA because their interest is financial – ie: to profit from their seminars by more people accepting ‘wraps’. Are you a “spruiker”?

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd

Robert,

Please let me add my 2c here.

Michael Gruber served as President of the VFA, VERY WELL…. he was independant, and, tried his best to further the industry.

It’s only since Michael & Committee departed that things have gone off a cliff…

– To Michael – Can you please advise, why did you step down ??? I don’t know who it was that stepped in your shoes, but to put it bluntly THEY ARE BLOODY USELESS……..

You may know the cost of everything…. but what about the value ????

Hi,

Michael may be many things to many people, but from my experience he is as far away from the evil face of wrapping as was the article in the SMH was accurate.

As for the VFA, in its current form it does seem to have run its course. I have remained at a distance, indeed passed over the presidency, due to a possible perceived lack of independence given that I sell a wrap product.

I did not have a lot to do with Michael in his time as president, but, based on previous encounters over the past five years, I suspect he discharged his obligations with distinction.

From where I stand, the slander on his name, given it was based on falsehoods, was most improper. Nothing short of a public apology is deserved, however, suspecting who is behind these dubious dealings, I won’t be holding my breath.

I live in hope that the unrighteous will, at the appointed time, be properly judged.

Regards,

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Hi All

I’d like to move away from personalities and start to through some ideas around re getting the Association going again.

I was at the last AGM and there was almost nobody there. Disappointing but probably understandable considering the size of OZ and difficulty in getting an Australia wide group together in one place.

I have no idea how this would work but would it be possible to have a number of State based associations (or branches of The Association) which organise their own State based activities.

These State based associations (or branches) would come together as necessary as a Federation to represent the industry on the “big” questions. I would suggest that each association (or branch) nominate a number of members of a Federation committee and that this committee work together ELECTRONICALLY on those “big” issues that need the full backing of the Federation. Hopefully the Federation could then have one AGM (or maybe AGM/conference) per year, rotating between States.

I realise all the above is very vague. No wonder, it’s straight off the top of my head However, we can’t effect anything that’s happened in the past; we can only have an influence about what’s going to happen in the future. It will only take a handfull of positive people to rebuild or restart this Association so that we can make it an example of all the reputable wrappers out there.

Cheers, Paul

PS. Please feel free to “flesh out” and improve on the above “brain dump”

Paul,

Some great ideas there…

I think we need to “re-launch” with the state bodies, linking to a figurehead federal committee…..

We need :

– New Website with new web address…..
– New name ?
– Implement Code of ethics which we worked so hard to produce
– Get out there in the faces of the Fair Trading dept. AND the public
– Publicly engage the Jenman’s of the world, and, by doing so, say to them, right, if it’s so bad, work with us to fix it….. if he won’t, then the world will know he’s not kosher…..
– publicly available information packs explaining wraps etc
– be in the position to respond rapidly to any negative / misinformed press…..

my 2c worth…..

You may know the cost of everything…. but what about the value ????

Rob, Pelican (?) & Steve

Thanks for the great feedback. I must admit the sound of all these committees does get me very scared But I guess if we just let the status quo continue, it’s pretty well assured that the Association will fold and we could all end up with a bunch of onerous legislation in our laps that we had no input into.

There is no doubt that we don’t have the funds at the moment to setup and staff a permanent office but IMHO that’s a great goal for the future (much like the Mortgage Industry Association).

My suggestion at this early point would be for people in the various States to get a group of like minded people together and form an association (?). My apologies for not knowing the costs of incorporating an association. Hopefully it’s not too much. Keep it purely State based at the moment and work on building up interest by having regular monthly(?) information meetings with guest speakers.

If this is successful, at some point in the future, the State based groups can talk about some form of Federal committee. That is, keep it easy in the begining, build interest with valuable guest speakers and work on the “big picture” stuff as we get off our knees and start to “walk”.

Something like $20 per head to hear the speakers should cover costs and, of course, before and after the speakers we get to “plug” the State Association.

I’ve seen this idea of meetings with great speakers work exceptionally well for a group of John Burley, Keith Cunningham “people” on the Central Coast of NSW. Their last meeting was full to capacity.

I will be back in OZ at the end on Jan. and would love to get together with the NSW “stars” soon thereafter. Please email or PM me with suggestions for a location, time and place.

Cheers, Paul

PS. Other States – go for it. What’s the down side? If it all falls in a heap, we’ve had the opporunity to listen to some very interesting speakers!