shorty Posted April 12, 2007 Report Share Posted April 12, 2007 Don't be tardy. The tax collector's late fees make a subprime mortgage lender look generous: a 10 percent painalty plus 18 percent a year interest charges on the tardy amount. 5.32 percent of roughly $2 billion in property tax dollars owed on the first installment due in December weren't paid at that point. That was the highest level of tardiness since 1996. Link to comment Share on other sites More sharing options...
try2win Posted April 12, 2007 Report Share Posted April 12, 2007 CNE ... nice move today .... hope it gets some schwang action. target for me is 14.50 ish Link to comment Share on other sites More sharing options...
shorty Posted April 12, 2007 Report Share Posted April 12, 2007 AAPL's delaying the release of their new operating system -- supposedly, resources have been diverted so that iPhone will be released on schedule in June. Good or bad for Shorty? 575704[/snapback] "released" to whom? nobody's gonna buy that thang it'll be a major corporate flop embarraSSment that will pile-drive the stock back down into the mid-30's Link to comment Share on other sites More sharing options...
wndysrf Posted April 12, 2007 Author Report Share Posted April 12, 2007 Fufu Berry up 12% today. Link to comment Share on other sites More sharing options...
wndysrf Posted April 12, 2007 Author Report Share Posted April 12, 2007 Wow, up 14% today. Link to comment Share on other sites More sharing options...
try2win Posted April 12, 2007 Report Share Posted April 12, 2007 ?It was just like it is now: ?Oh! Oh! Another news tidbit of New Century news. Oh, my god!? ? he said in a mockingly hysterical tone, referring to the mortgage company that has filed for bankruptcy protection. From the prospectuses for those securities, Mr. Devaney divined that bondholders would get their money back even if 30 percent of the homeowners defaulted on their loans. He bought the bonds for 50 cents on the dollar for himself and for clients. As the scare faded and it became apparent that homeowners would not default in big numbers, he sold for handsome profits. It was a formula he has used time and again ever since. that was kind of what i was eluding to today about CFC ... Link to comment Share on other sites More sharing options...
wndysrf Posted April 12, 2007 Author Report Share Posted April 12, 2007 mmoy: Hope you still have this...... Link to comment Share on other sites More sharing options...
wndysrf Posted April 12, 2007 Author Report Share Posted April 12, 2007 Very funny. WM reports on Tuesday, right in the middle of OpEx Week. I'm mighty tempted to go long this tomorrow. Pays a 5.5% yield. Not bad.... Excerpts from Wall St. Journal: Puts Trade Heavily On Earnings Fears In Mortgage Sector By MOHAMMED HADI Concerned that next week's earnings reports will bring more bad news about the mortgage sector, traders sought protection from declines to come in shares of several banks. Trading was most notable in put options on Washington Mutual Inc., but also heavier than usual in puts on an index that tracks the performance of several commercial banks. A far heavier than usual 40,000 put options on Washington Mutual changed hands, according to Track Data, with traders targeting options that allow them to sell the company's stock for $37.50 and $35 in the next eight sessions. That occurred as the stock slipped 38 cents to $38.87. The volume was driven by traders adding "put spreads," said Stacey Briere Gilbert, chief options strategist at Susquehanna Financial Group. Put spreads are positions that profit from a decline in a stock to a certain point. The put spreads traded yesterday will be most profitable as Washington Mutual falls below $35. Washington Mutual is due to report quarterly results next Tuesday Link to comment Share on other sites More sharing options...
I_Am_Madness Posted April 12, 2007 Report Share Posted April 12, 2007 Very funny. WM reports on Tuesday, right in the middle of OpEx Week. I'm mighty tempted to go long this tomorrow. Pays a 5.5% yield. Not bad.... Excerpts from Wall St. Journal: Puts Trade Heavily On Earnings Fears In Mortgage Sector By MOHAMMED HADI Concerned that next week's earnings reports will bring more bad news about the mortgage sector, traders sought protection from declines to come in shares of several banks. Trading was most notable in put options on Washington Mutual Inc., but also heavier than usual in puts on an index that tracks the performance of several commercial banks. A far heavier than usual 40,000 put options on Washington Mutual changed hands, according to Track Data, with traders targeting options that allow them to sell the company's stock for $37.50 and $35 in the next eight sessions. That occurred as the stock slipped 38 cents to $38.87. The volume was driven by traders adding "put spreads," said Stacey Briere Gilbert, chief options strategist at Susquehanna Financial Group. Put spreads are positions that profit from a decline in a stock to a certain point. The put spreads traded yesterday will be most profitable as Washington Mutual falls below $35. Washington Mutual is due to report quarterly results next Tuesday 575712[/snapback] Come join us in the dark side! We own calls... I figure the MOST we can lose are the calls...no way i'm buying the shares. The May 40 calls look good at .80. Link to comment Share on other sites More sharing options...
wndysrf Posted April 12, 2007 Author Report Share Posted April 12, 2007 Wow!!!! A Narrow Miss????? I have a customer at the bank who has a 490 FICO score who has been knocked out of 3 subprime loans in the last few months. I was desperate for one of these loans to close, because the cash out he was getting on his house was going to pay off my past due business loans. Sure enough, I found a broker in Manhattan Beach, a pretty girl how said she could place the loan. I didn't believe it, but I let her try anyway. After much handwringing and negotiating, she was finally able to pull it off. She was able to get the guy a $550,000 2nd TD loan at 9 1/4%!!!! All the other deals that fell out were in the 10.5% - 11% range. I received my wire transfer yesterday for full payoff of our business loans!!. And lo and behold, guess who shows up on the Implode-O-Meter today? The same broker!!!! Still a rumor, but if they in fact went broke, I got paid off just in time. Amazing luck!!!! 2007-04-11: Platinum Capital Group - Mortgage Banker (no MSM story yet) Update, April 12, 2am: Management of the company has contacted us and informed us that Platinum is still around. As we determine details of their remaining business, we will updated and potentially remove this entry. Multiple sources report that this company has ceased lending, at some point within the past month. It appears to be based on Manhattan Beach, CA. While the main web site seems light on info, there is a link to a press release from last November which says that Platinum funded $2 billion in 2006, and at some point was named the Los Angeles Business Journal's "#1 fastest growing privately held company in Los Angeles". No word yet on the credit quality mix of the lending, or the solvency of the overall company. That would probably depend on how much of Platinum's lending was funded by its own depositors. Link to comment Share on other sites More sharing options...
prancing_cow Posted April 12, 2007 Report Share Posted April 12, 2007 Very funny. WM reports on Tuesday, right in the middle of OpEx Week. I'm mighty tempted to go long this tomorrow. Pays a 5.5% yield. Not bad.... Excerpts from Wall St. Journal: Puts Trade Heavily On Earnings Fears In Mortgage Sector By MOHAMMED HADI Concerned that next week's earnings reports will bring more bad news about the mortgage sector, traders sought protection from declines to come in shares of several banks. Trading was most notable in put options on Washington Mutual Inc., but also heavier than usual in puts on an index that tracks the performance of several commercial banks. A far heavier than usual 40,000 put options on Washington Mutual changed hands, according to Track Data, with traders targeting options that allow them to sell the company's stock for $37.50 and $35 in the next eight sessions. That occurred as the stock slipped 38 cents to $38.87. The volume was driven by traders adding "put spreads," said Stacey Briere Gilbert, chief options strategist at Susquehanna Financial Group. Put spreads are positions that profit from a decline in a stock to a certain point. The put spreads traded yesterday will be most profitable as Washington Mutual falls below $35. Washington Mutual is due to report quarterly results next Tuesday 575712[/snapback] Come join us in the dark side! We own calls... I figure the MOST we can lose are the calls...no way i'm buying the shares. The May 40 calls look good at .80. 575713[/snapback] In anticipation of bad news I will be gaming WM like it was a homebuilder. first a big drop down and then climbing to the end of the session. so I will be buying puts the day before and then 10-30 minutes in the session I'll go for calls. that's what usually happens with homebuilders. Link to comment Share on other sites More sharing options...
prancing_cow Posted April 12, 2007 Report Share Posted April 12, 2007 Very funny. WM reports on Tuesday, right in the middle of OpEx Week. I'm mighty tempted to go long this tomorrow. Pays a 5.5% yield. Not bad.... Excerpts from Wall St. Journal: Puts Trade Heavily On Earnings Fears In Mortgage Sector By MOHAMMED HADI Concerned that next week's earnings reports will bring more bad news about the mortgage sector, traders sought protection from declines to come in shares of several banks. Trading was most notable in put options on Washington Mutual Inc., but also heavier than usual in puts on an index that tracks the performance of several commercial banks. A far heavier than usual 40,000 put options on Washington Mutual changed hands, according to Track Data, with traders targeting options that allow them to sell the company's stock for $37.50 and $35 in the next eight sessions. That occurred as the stock slipped 38 cents to $38.87. The volume was driven by traders adding "put spreads," said Stacey Briere Gilbert, chief options strategist at Susquehanna Financial Group. Put spreads are positions that profit from a decline in a stock to a certain point. The put spreads traded yesterday will be most profitable as Washington Mutual falls below $35. Washington Mutual is due to report quarterly results next Tuesday 575712[/snapback] According to http://www.ml-implode.com/ Wells Fargo is the biggest fish in that ocean- reports the same day as WM Link to comment Share on other sites More sharing options...
Guest smsc Posted April 12, 2007 Report Share Posted April 12, 2007 IMR - IMA Exploration. Appealing a ruling by lower court whereby they lost their only asset to Aquiline, who will have to pay them for exploration expenses etc. If IMA loses the appeal, the stock could drop like a stone maybe 50-100%. If IMA wins, it's a 5 bagger. Might be worth a tiny stake. As Wndy would say, PURE SPECULATION. Link to comment Share on other sites More sharing options...
Drano Posted April 12, 2007 Report Share Posted April 12, 2007 AAPL down 2.44 after hours. Congrats, Shorty! Link to comment Share on other sites More sharing options...
mdporter Posted April 12, 2007 Report Share Posted April 12, 2007 AAPL's delaying the release of their new operating system -- supposedly, resources have been diverted so that iPhone will be released on schedule in June. Good or bad for Shorty? 575704[/snapback] That's a bogus reason. The real reason is that the new OS isn't ready yet. A new beta was released today that is largely unchanged from the last one. There have been some reports that Apple is going to revamp quicktime and do some other stuff. Link to comment Share on other sites More sharing options...
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