jkprice: Many of us on this board are "old timers", having invested for decades. We're not the modern "traders", in and out of positions within a week to make .10 or .15 on a trade. We live on our income produced from many years of long term investing. We're past the risk taking stage of building wealth and are now in the reward stage, reaping the results of our careful investing. That's why you see many posting about yield and dividend income. I personally own only ONE stock that doesn't pay me income, SDRNF, just bought a couple of weeks ago on a fling. I haven't done that very often in the past few years. Your posting of all the winners you've had recently certainly looks wonderful, for you, but many of us don't trade 1/10th of your action or even 1/100th. You must spend the entire day on your computer. Are you a day trader? Our hard earned assets now help support our families in our later years and we are wont to risk them on stocks someone on a message board recommends. Please don't take that as an affront as this board has become a great source of investment ideas and trading information. It's actually the third iteration for many of use that started on the Fording board many years ago, morphed onto the Teck Resources board and now finally landed on SFL. Some of us old timers even communicate off-board with ideas and topics that might bore many on the board. Keep up with the ideas and recommendations. I'm sure some here have acted on your suggestions.
Ocwen was chastised for their business practices when they were in the bidding war with NRZ/NSM for the Allied MSR business. It came to light that their entire MSR operation was run from India but I guess they made an offer that couldn't be refused. No U.S. employees, but then again you can count NRZ's employees on one hand
gambler: I've owned AI for about 6 quarters now and have been very satisfied. As I'm not a trader the fact that I have minimal cap gains doesn't bother me as I want the dividend income. Another of my "bond surrogates". I don't consider it an mREIT but a financial stock as they've got their fingers in many pots. I hesitated when I initially bought in as I was familiar with their previous company (FBR) and the problems they had but so far those fears have been unfounded. GLTU
If you were afraid SDRL was going to cut it's dividend then you made what you considered the prudent move. I'm sure most participants here continue to be bullish on the company and with their backlog of business the divvys will continue to grow. You succumbed to the pressure the short/bear attack has put on the stock. Just my opinion but within 6 months the share price will be back in the upper 40s.
I've owned NATDF since 2011 and have collected wonderful divvys waiting to hit paydirt. Bought at $1.96 before the reverse split in listing anticipation. Just taking longer than expected. You might also want to look at SDRNF (Sevan), SDRL's last acquisition. Cheap here, no divvy, but with JF involved no telling where he'll take it.
Mark: Actually they cut the cash divvy from .90 to .80. I remember during the crash some companies paid their dividends with stock to prevent their share price from cratering by cutting the divvys completely out.
Ocwen Financial Corp., the biggest non-bank in the mortgage-servicing industry, will provide $2.1 billion in relief for homeowners to settle regulators' claims over abuses in its handling of borrowers' loans.
Under the agreement with the Consumer Financial Protection Bureau and 49 states, Ocwen will spend $2.1 billion on foreclosure compensation and "principal forgiveness modification programs" for people who are behind on payments or whose homes are worth less than they owe, the company said Thursday in a regulatory filing. The Atlanta company will also follow specific guidelines on servicing mortgages and face independent monitoring of that work.
"Ocwen took advantage of borrowers at every stage of the process," Richard Cordray, the consumer bureau's director, said in a statement. "Today's action sends a clear message that we will be vigilant about making sure that consumers are treated with the respect, dignity and fairness they deserve."
Google Ocwen for the whole story
PASADENA, Calif., Dec. 19, 2013 /PRNewswire/ -- Western Asset Mortgage Capital Corporation (WMC) announced today that its Board of Directors has declared a fourth quarter/year-end dividend of $2.35 for each common share payable in a combination of cash and stock. As described below, stockholders will make an election to receive their dividend in cash or stock. If the cash election is oversubscribed, each stockholder electing cash will receive a pro rata cash amount of no less than $0.80 per share with the balance payable in stock. The expected cash portion of the dividend may be viewed as comparable to the Company's regular quarterly dividend. The stock portion of the dividend is being paid by the Company in order for the Company to reduce its undistributed taxable income from 2013 and satisfy the REIT distribution requirements. Such incremental undistributed taxable income primarily pertains to net gains realized on certain hedging transactions and the inability to offset such gains for federal income tax purposes with net capital losses realized on the sale of mortgage-backed securities. The Company has chosen to pay a portion of the dividend in stock in order to maintain the earnings power of its portfolio while fulfilling the REIT requirements.
The dividend is payable to common share
Wednesday's deal "enables Nationstar to pay down debt and potentially purchase more mortgage servicing rights," according to a report from Compass Point Research analyst Kevin Barker.
However, Barker argued the deal "highlights how capital intensive this business has become," adding "we would expect the bidding for future MSR deals to be more competitive. Therefore, we view the potential return on capital from new deals as limited."
While at least three analysts published reports on Thursday saying the deal was positive for Nationstar, a downgrade from appeared to drive the stock. The downgrade was published ahead of Thursday's open and the stock remained in negative territory all day.
By contrast, no analysts published reports on New Residential. While 10 analysts cover Nationstar, just five follow New Residential. Sterne Agee analyst Henry Coffey, who predicted Wednesday's deal in a note on Tuesday, stated in a follow-up note on Thursday that the deal "creates positive investment/reinvestment opportunities for NRZ and capital relief (w/minimal EPS impact) for NSM." He has a "buy" rating on New Residential and a "neutral" rating on Nationstar. -- Written by Dan Freed in New York
I don't believe Ares Mgmt. LLC has anything to do with ARCC. A totally different company. I believe they recently acquired Neiman Marcus.
Can't deny that management is not fulfilling it's promise to "unlock shareholder value" of NCT, despite grumblings and complaints about lack of transparency from some posters. The fact that NRZ is performing a bit better is of no concern, at least to those that have held NCT for many years and have been carried along with the company's vision. NCT should catch up soon enough as their portfolio of senior living properties continue to grow. We're not getting any younger, are we? GLTA
disk, they can't give you an answer. As I stated about 2 weeks ago if I saw HedgEye and Barrons putting out negative PRs this bear attack would be more apparent. Methinks it's mostly coming from Europe (they do that there too) with U.S. shorts piling on.