I bought 15,000 shares at $4.37, back in August. I'm still holding. Earnings momentum is accelerating. There will be periodic ups and downs in this stock. But the long-term trajectory is up, up, and up.
I am more on the conservative side so I hate to say this but it is probably time to loosen lending standards as Bernanke said today. More refis at these rates mean more disposable income and with taxes and fees and healthcare costs, etc all going up with no income increases, housing affordability (on the monthly payment not housing price side) is one of the only areas that may provide a bright spot. I guess we shall see. I have refid enough times in the past five years to know that some of these smaller outfits can fill in where the big banks are missing out. It all ends up on the taxpayer anyway. What a bad siuation this country is in.
I avereaged down from 2009 til earlier this year. When I finally did better than breaking even I got out. If this stock does the same as it has over the last 4 years, it will dribble back down to book value before Q4 report. The prefered stock issue may still be a problem. Just my opinion. Looming Obama Recession may kill all hope.