Financial Institutions

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Why Financial Institutions Use Colebrook

 

Participations

Colebrook sells participations, which allow a financial institution without expertise in the timeshare industry to generate profitable, high quality loans without the need to add costly infrastructure. Colebrook leverages its experience and contacts to originate, structure, and manage loans for its participating financial institutions.

Customer Relationships

Over the past 35 years, Colebrook’s personnel have developed relationships with many of the leading timeshare developers in the country. In addition, their industry expertise enables them to gain the confidence of new prospects and to investigate and evaluate their creditworthiness. Bankers without industry contacts or experience would have difficulty generating and underwriting new timeshare loans.

Banking Experience

During their tenure in banking, the principals of Colebrook sold hundreds of millions of dollars of timeshare participation loans without any participant losing a single dollar. Bill Ryczek was the Chief Lending Officer for one of the largest banks in Connecticut, with responsibility for a $1.3 billion portfolio. The company provides its participants with complete due diligence and documentation packages, and manages the loan relationship with its participants’ needs in mind.

Lender Education

For the past six years, Colebrook has conducted an annual Lender Education Seminar for lenders, accountants and attorneys, to provide them with current information on the state of the timeshare industry. We have had an impressive array of industry leaders as speakers, and feedback has been extremely positive. We believe that the more our banking partners know about our industry, the more comfortable and confident they are working with us. We are always delighted to make presentations to the boards and management of individual institutions. Colebrook also produces a newsletter covering current trends in the timeshare industry and featuring stories about Colebrook’s customers.

Servicing and Administration

Their banking experience has also made Colebrook’s principals sensitive to the regulatory environment faced by bankers, and we provide information that enables the institution to effectively monitor a relationship while also satisfying the needs of its regulators.

Loan Structure and Documentation

The structure and documentation of timeshare loans is a specialized field, and very different from the documentation of traditional commercial transactions. Colebrook’s principals have had many years of experience in structuring loans, and their affiliated counsel has been documenting timeshare transactions since the mid-1980s.

Portfolio Acquisitions

Colebrook purchases performing and non-performing portfolios, both at mature, stable resorts and at resorts which may be problematic.