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Crexus Investment Corp. Message Board

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  • mullalarmbereitschaft mullalarmbereitschaft Nov 12, 2011 2:40 AM Flag

    FBR Downgrades 2 days after Great Conf Call?

    Yes, that was a Typo. 60. mil.
    Of course 60 mile wiped out roughly Half of the 20% Disct on 700 mil.
    Of cvourse te 60 mil isn't all lost.
    It may be recovereed/refeinanced somewhat or sold at sa.. a half loss.

    I wondr if FBR is party to knowing Mpore than we do.
    If so this sin't Kosher.

    If they don't know more their estimate is Lunatical

    • Makes ne wonder if it isn't just some sort of bad blood between FBR and Annaly. Since REITS trade right around book value, FBR is saying that BV is going from 12 to 9. That is unreal. Listened to the CC. Their loans are between 65 and 75% of loan to value. So, if correct, that means when there is a default, the principal in every loan is recoverable. They just lose the interest on the NPL. Remember that STWD offered 14 because they wanted the Barclay's portfolio. So, some smart people saw a lot of opportunity here.