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American Capital Agency Corp. Message Board

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  • jtrader64 jtrader64 Nov 29, 2012 1:35 PM Flag

    Put Spread Question... for Doc or anyone else?

    xxavtarxx - WMC did a presentation yesterday. They mentioned their October CPR number of 4.0 (which is down slightly from the 4.1 for the 3rd qtr) so good news there.

    If you get a chance to listen to the call, it is worth doing so.

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    • Thanks for pointing that out Jtrader. Just went and looked at their slides.

      Their CPR though should be low since they are a new reit. : )
      They don't have the older higher margin loans.

      It seems like they are doing what AGNC/MTGE is doing and targeting HARP and lower balance loans to keep that CPR low. : )

      Overall their presentation looked good.

      I have a feeling though they might take a hit next quarter on Comprehensive.
      To me it looks like they picked the worst possible time to do their last secondary when I look at the MBS charts.
      MBS has generally dropped a point since then, so it will be interesting to see how that all unwinds in their next earnings.

      • 1 Reply to xxavatarxx
      • xxavatarxx - Thanks for your comments. You may be correct about WMC taking a hit to comprehensive in the next earnings report but I'm only interested in net income because I'm just in for the dividend run. I'll be out before ex and thus before 4th qtr earnings are out.

        I agree that they sound like they are doing the same thing that AGNC/MTGE are doing with their agency assets. They echo the same sort of comments that Kain does.

 
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