Sun, Jan 25, 2015, 11:40 PM EST - U.S. Markets closed


% | $
Quotes you view appear here for quick access.


  • insider_edge insider_edge Jul 11, 2007 11:55 PM Flag

    What it's worth

    Let me preface this by saying I own no AHM stock. I am not a long, I am not a short. But I think the investing public has the right to know.

    While AHM is trying to convince everyone that they are no longer in the Alt-A business, their wholesale division, American Brokers Conduit, is up to their eyeballs in stated income loans.

    AHM is being cute by saying: "Oh, we don't write Alt-A loans anymore" but their ABC (which account for the majority of it's originations), Marina Mortgage and countless other fly-by-night 'correspondent lenders' continue to generate Stated Income, Stated Asset, No Ratio and No Doc loans.

    The investors are now starting to get wise and are giving them a VERY hard time (and reduced margins) with ALL loans. Thus the no profit in Q2. But what's frightening is that there's are no plan in place to turn a profit in Q3 either.

    Massive layoffs are expected and employee moral is at an all time low. It's get-what-you-can-while-you-can time. And they're trying to sell loans to investors by any means necessary. Which means that when the SEC/FBI takes a good look at the operation, there's going to be some very upset people left holding the bag.

    This company is going to crumble under it's own weight. It's not a matter of 'if', but 'when'.

    I feel much better getting all that off my chest. And I'm sorry to all those people who lost all that money.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
0.0030.000(0.00%)Jul 24 3:13 PMEDT

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.