The focus now is mortgage lending. Whereas before it was real estate services. If you look at the latest qtr report, the real estate services business is declining. Are they letting that business segment die?
I think their desire has always been to get back into the mortgage lending business, and the real estate services was just a way to generate some revenue until... It's just taking a very long time.
Some say it's the housing market, but take a look at NLY, MFA, CIM, AGNC, etc. They're make money and paying nice divies. What happened to IMH?
What is sad is NO info from the Company and NO movement up or down with minimal trading. What's going on? I'm not a highly sophisticated person but the total lack of action or news is disturbing. Is there a takeover looming? Or Closing?
The stock plunge is rough. I know these are just analogies but I was just able to refi a primary and investment property at no cost for 75 bps and 62.5 bps lower. My mortgage broker (Placentia, CA) based called me from San Diego where he was opening a new office. We few shareholders should be trying to determine if this quarter is a boom for IMH in refis (rates are very low even relative to two months ago). If not, why not? As long as they are growing, it could get better but they need to grow capacity to take advantage of positioning when market eventually bottoms. Coincidentally, this is likely to be when Obama gets the boot at the end of next year.
I enjoyed reading this message thread. I agree with most everything here. I have owned IMH for several years and essentially am even at this point if you include the dividends, so I will hang in there to the end. I am a novice investor so I do not understand all facets of the "preferred stock" situation. I think that should be resolved before we have to pay $25 per share to them. I agree that I will remain unemployed and the real estate market will not improve until Obama is gone. Fortunately I protected myself and enjoy my house with 7 acres that is free and clear. I think the sentiment is clear. No new taxes, less regulation, and get the govt out of our private lives.