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Strategies & Market Trends : Timeshare Companies - OWN FFD TWRI VSTN SVR BXG
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To: JEFF JORGENSON who wrote (4)4/18/1999 8:49:00 PM
From: Grommit   of 55
 
what's the full advantage of securitization for Sunterra?

full advantage?
1. it provides cash flow
2. and it eliminates mortgage risk

They need the cash flow. I believe that 40-50% of sale price is variable cost (marketing, commission and such), so they need to sell the mortgage stream for a lump sum.
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