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SPDR S&P Homebuilders ETF Message Board

twhite113 8 posts  |  Last Activity: May 11, 2016 5:12 PM Member since: Mar 9, 2007
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  • Reply to

    The happy talk is laughable

    by pinky76123 May 10, 2016 8:23 AM
    twhite113 twhite113 May 11, 2016 5:12 PM Flag

    Okay - got it.

  • Reply to

    The happy talk is laughable

    by pinky76123 May 10, 2016 8:23 AM
    twhite113 twhite113 May 11, 2016 4:31 PM Flag

    20? It's only 15X '16 estimates and under 12X next year. It may not be a buy here, as banks will struggle until a sustained higher rate environment, but I don't get the short idea. OZRK has high ROTE, ROA - superior efficiency, LTV's in the CRE/C&D portfolio are conservative - non performers are minuscule.

    I looked for the post you mentioned from April 13th, but I don't see it.

  • Reply to

    The happy talk is laughable

    by pinky76123 May 10, 2016 8:23 AM
    twhite113 twhite113 May 11, 2016 12:16 PM Flag

    what other banks are you comparing it to?

  • Reply to

    Metric 31 clarification

    by twhite113 Apr 28, 2016 1:50 PM
    twhite113 twhite113 Apr 28, 2016 5:54 PM Flag

    Maybe, maybe. We'll see.

  • Reply to

    Metric 31 clarification

    by twhite113 Apr 28, 2016 1:50 PM
    twhite113 twhite113 Apr 28, 2016 5:23 PM Flag

    I just can't look at stocks emotionally like that...maybe I should. I do know they are no longer run by Erbey and I think he was the reason they have such a bad legacy and are dealing with all the added scrutiny. Mortgage servicing is a necessary, albeit less than altruistic, business. In the end I think it has good risk/reward with debt maturities no longer a near term issue.

  • Reply to

    Metric 31 clarification

    by twhite113 Apr 28, 2016 1:50 PM
    twhite113 twhite113 Apr 28, 2016 5:13 PM Flag

    Not my words. It was in quotes for a reason. Also, listen to the ASPS call for their opinion about this specific matter. As far as the press release from OCN of a positive progress report from a regulator, also known as spin, can you blame them?

  • "The Monitor’s report also discusses a matter related to the third calendar quarter of 2014 and Metric 31. Ocwen exceeded the error threshold under Metric 31 in the third calendar quarter of 2014. Ocwen takes borrower harm very seriously and worked with OMSO to place certain loans on a hold to ensure that no foreclosure sale would take place until OMSO reviewed and validated that all matters associated with Metric 31 were resolved. The Monitor’s report today further noted it has approved the corrective action plan for Metric 31, and that Ocwen reported completing all implementation of that plan as of March 8, 2016. These holds are not “frozen foreclosures” but rather an agreement not to foreclose until OMSO reviewed and approved Ocwen’s remediation. Many of these loans have never been referred to foreclosure and never will be. The Company has already resumed internal testing of Metric 31, and expects future OMSO reports will reflect that its concerns are resolved."

  • Reply to

    Pretty terrible results

    by fatoldmaninnj Apr 27, 2016 4:39 PM
    twhite113 twhite113 Apr 27, 2016 4:59 PM Flag

    The way I look at it, is with their recent debt changes, they have the time to wait out two catalysts: a positive resolution to the monitor and a rise in interest rates. Meantime, this is still meaningfully below it's tangible book value and has legitimate wall street institutional ownership including Putnam, GS and Baupost (Seth Klarman). We'll see if their call is better than last Q's.

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