IF true, it's factored into the price..........easy math.

:what:

The Villages is a for-profit corp.

The Villages does not pay for music.

Amenities are built & sold by The Villages at a profit....why make less.

Taxes rise now.

:shrug:

Sub prime is a difficult amortization
 

Not as bad as national figures I suppose that place subprimes at above 90%
Sub prime borrowers have little interest in paying anything off early….EASY Math…lol.
Their money earns more invested in money markets

Perhaps property of the villages got a good price for their banks and like most of us occasionally do with property for the same reason, just let it happen. A neighbor suggested that maybe they needed the money. I don’t think that was it and just believe it was a good business deal. For what it’s worth, I did check a few times Citizens best mortgage rates and found their 15 and 30 year interest rates above others. We have no “skin in the game” as we bank with Truist and Chase.

A few years ago, our bank up north was sold to another community bank and we had to do some “work” to get our bills being paid out of our account because the new bank gave us a new account number. We were not pleased with the new banks service and they soon lost a good customer.

It is easy math...........buy knows their targeted ROI, they know the effective yield on the banks assets, they know the banks cost of money, the buyer adjusts its purchase price for the bank. Very easy.

:024:

Who does pay for music? I thought it was Villages Entertainment which was owned by the Villages (or a subsidiary or a licensed entity or …). Is that not the case?

Whoa, take it easy there.. your enthusiasm to trash the current developers is impressive. But did it ever occur to you that your crystal ball may be cracked?

Beached Whale?
 

Wow, if I had known you could get $750 Million for a beached whale I would have bought one a long time ago. Thanks for the tip!

It does have the appearance of a beached whale. New generation banks are a fraction of the size of older banking institutions. The younger generation will primarily bank online and have little use for the brick and mortars. And as much as I hate to admit it, all those over 55 years old aren't really aren't all that long for this world and when banks are looking at the whole picture all this is taken into consideration. Twenty years go by in a hurry. I shouldn't forget what the future of AI will do to the banking process, it will be a whole new world.

Doesn’t seem to answer the question.

One assertion is amenity fees and another is the businesses at the squares through their respective commercial CDDs. However, none of those budgets contain expense lines for entertainment.

If “paid by the businesses in the squares” means paid from their rents then that goes back to the Villages/Developer paying since he collects the rents.

Sure, ultimately we pay as members of the the audience, but that doesn’t appear to be through amenity fees, maintenance fees, or county taxes.

Villages Bancorporation, Inc., the holding company that owns Citizens First is not a public company. As far as I can tell, there are no public financial filings to inspect. (If anybody can find some, please post a link to them.)

There is no reason that I have been able to find that anyone should think that they have any significant mortgage portfolio, much less one that has an average rate of 2.5% - such a portfolio is unlikely to exist in the US!

It is also very unlikely since the late 90's that any banks hold significant mortgage portfolios. That strategy of banks owning mortgages is what led to the Savings and Loan Crisis of the 80's and 90's. I know that will be too long for most of you to read and will not be of interest to most anyone without a background in finance. But it was a busy time for investment bankers and financial regulators. For a read that is more fun, but much less educational, see Liar's Poker, by Michael Lewis.

It makes zero financial sense for depositary instutions, who have liabilities of 30 days, to hold assets with maturities of 5-30 years. The only major investors in home mortgages are life insurance companies and pension funds - who do have long term liabilities that need to be funded with long term assets.

DEWILSON58, et al.: The developer is also not interested in movie theaters.

Retired people have lots of time to fantasize, com'on whats the harm.
 

:posting:

They do hold a significant amount of mortgages. We got one from them several years ago and unlike other banks, they never sold it to another mortgage company.