Except Cooperman and Buffett went on record saying that they are buying this market. Stocks like this one are on sale.
Guess who said this....
"This administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country.
And this is a good time for the American homeowner. Today we received a report that showed that new home construction last month reached its highest level in nearly 20 years. The reason that is so is because there is renewed confidence in our economy. Low interest rates help. They have made owning a home more affordable for those who refinance and for those who buy a home for the first time. Rising home values have added more than $2 1/2 trillion to the assets of the American families since the start of 2001.
The rate of homeownership in America now stands at a record high of 68.4 percent. Yet there is room for improvement. The rate of homeownership amongst minorities is below 50 percent. And that's not right, and this country needs to do something about it. We need to close the minority homeownership gap in America so more citizens get the satisfaction and mobility that comes from owning your own home, from owning a piece of the future of America.
Last year I set a goal to add 5.5 million new minority homeowners in America by the end of the decade. That is an attainable goal; that is an essential goal. And we're making progress toward that goal. In the past 18 months, more than 1 million minority families have become homeowners. And there's more that we can do to achieve the goal."
It was George Bush in 2003. I don't really want another Bush in the White House. Just saying...
Also margins expected to expand in Q3.
July originations were $740 million. So if the pipeline gets closed by Sept. 30, they will have $2.54 million plus for the Q.
I think there is a giant void of information between the earnings release, the conference call, and the 10Q filing. This could be resolved by doing the conference call 30 minutes after the earnings release. And by filing the 10Q closer to the date of earnings. My previous experience in corporate reporting tells me that this might be expensive.
We still have no forward looking guidance. No information in the Alt-QM program.
It's easy to do when you dump 1500 shares in premarket. They underestimate the longs. This is not Netflix. There are seasoned investors in this stock.
I see that we now have 118% institutional ownership, 9 million shares short, and 43 days to cover.
I own a lot more NSM than WAC, but I think I bought the wrong one....
Even from a technical perspective, there is a case to be made for filling that huge gap.
And Einhorn and Kass rate this a sell. Icahn has abandoned the stock.
There are lots of competitors I didn't mention.
Netflix is currently at the top. That's not when you want to buy it.