tag:blogger.com,1999:blog-7514357.post732943919684880627..comments2024-02-25T08:16:25.546-08:00Comments on Exurban Nation: FMT LEND and the PPTRob Dawghttp://www.blogger.com/profile/10042154106850545479noreply@blogger.comBlogger28125tag:blogger.com,1999:blog-7514357.post-77505997846856400082007-03-20T14:34:00.000-07:002007-03-20T14:34:00.000-07:00On a semi-related topic...CRAMER REVEALS A BIT TOO...On a semi-related topic...<BR/><BR/><A HREF="http://www.nypost.com/seven/03202007/business/cramer_reveals_a_bit_too_much_business_roddy_boyd.htm" REL="nofollow"><B>CRAMER REVEALS A BIT TOO MUCH</B></A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-49613016852267754972007-03-20T13:45:00.000-07:002007-03-20T13:45:00.000-07:00That's way worse than a flesh wound, the change in...That's way worse than a flesh wound, the change in price is recognition that the patient moved back from the mortuary to intensive care, for another week.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-39681484535381501582007-03-20T13:10:00.000-07:002007-03-20T13:10:00.000-07:00The entire MBS industry has been cut off at the kn...The entire MBS industry has been cut off at the knees and in their best Pythonesque Black Knight imitation all they can say is "It's only a flesh wound!"Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-12129250503010263122007-03-20T13:05:00.000-07:002007-03-20T13:05:00.000-07:00Alt-A lenders are next to suffer some hits. Proba...Alt-A lenders are next to suffer some hits. Probably not as severe a default rate as the sub-p loans, but significant none the less. This talk from the Alt-A lenders that sub-p problems are not going to affect their Alt-A loans are hogwash.ratlabhttps://www.blogger.com/profile/14362015111310505599noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-22589179866392041212007-03-20T13:02:00.000-07:002007-03-20T13:02:00.000-07:00At this point all of the sub-prime stocks have bee...At this point all of the sub-prime stocks have been taken to the cleaners. The next action will be in prime lenders with questionable practices; the CFCs of the market. And if there's even a hint that some of the big banks have been hiding their real losses (I'm looking squarely at Bear Stearns), look out below.Peripheral Visionaryhttps://www.blogger.com/profile/02489447120517274000noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-86181886317899443432007-03-20T12:42:00.000-07:002007-03-20T12:42:00.000-07:00I'm not going to claim that they're a survior yet,...I'm not going to claim that they're a survior yet, but I think the odds are better than for someone else. <BR/>Better to lose an arm or leg than the whole thing. They were in a liquidity crisis, those actions got them out of said liquidity crisis (the rest of their existing loans are backed by securitizations). Yeah they could use a capital infusion, but they had about a week to show that they could keep the doors open. I'd bet that they'll be around longer than anyone else in subprime land. <BR/>The 13% loan is to allow them to hold new loans in inventory, if their business is viable they will have to find a way to sell their loans at par. If not they're kaput. They could only get cheaper financing before, because it turned over very rapidly, that's been cut off, so this is the new cost of playing the game.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-24207773647950707282007-03-20T12:30:00.000-07:002007-03-20T12:30:00.000-07:0012:12 anon,i see this is the note on their website...12:12 anon,<BR/><BR/>i see this is the note on their website<BR/><BR/><BR/>http://www.loancity.com/<BR/><BR/>LoanCity is closed for business. Today March 20, 2007 is the last day we will be funding loans. To our customers, our staff and business partners - we thank you.aaronhttps://www.blogger.com/profile/11232800121806534724noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-76023629486229282572007-03-20T12:29:00.000-07:002007-03-20T12:29:00.000-07:00You should record it and post it on Rapidshare. O...You should record it and post it on Rapidshare. Or can anyone download it? I don't want to sign up for an account at Radio Shoe or whatever it's called. Cool fun things could be done with the audio. We could make Casey a self-mockin mechanical rappa boi.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-71826932419665549102007-03-20T12:20:00.000-07:002007-03-20T12:20:00.000-07:00FYI:I'll be listening (gasp) to Casey's show tonig...FYI:<BR/><BR/>I'll be listening (gasp) to Casey's show tonight, for teh comedy, while I play Company of Heroes and make notes at funny thingsR-Boyhttps://www.blogger.com/profile/10345932760522001935noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-77724671074136501422007-03-20T12:12:00.000-07:002007-03-20T12:12:00.000-07:00This just in...I received news today that this mar...This just in...<BR/><BR/>I received news today that this market may have taken its first conforming lender casualty. <BR/><BR/>Loancity, which is an a-paper conforming lender has shut its doors today.<BR/><BR/>No real reason has been give yet for the shutdown. But this contines to beg the question as to whether market issues are exclusive to the non-prime sector...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-139075238947804662007-03-20T11:37:00.000-07:002007-03-20T11:37:00.000-07:00bluto,They've sold all their valuable assets below...bluto,<BR/>They've sold all their valuable assets below cost and now have a loan at THIRTEEN percent so they can make shaky loans at 8%. I call toast.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-55523311287844727412007-03-20T11:31:00.000-07:002007-03-20T11:31:00.000-07:00Everyone loves to trot out the PPT to explain any ...Everyone loves to trot out the PPT to explain any and all market moves. <BR/>In this case, over the course of a week, LEND sold 2.7 billion worth of loans and secured $200 million worth of financing. Since a week ago they were in the middle of a liquidity crisis and spiraling margin calls, both of those actions probably raised the value of the firm substantially. To say this move was overdone, opens up questions on whether the decline to 4 on the original liquidity crisis was also overdone...<BR/>FMT got an investment from a fairly rickety bank, and is thinking about laying off some mortgage folks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-78938583746043226602007-03-20T10:56:00.000-07:002007-03-20T10:56:00.000-07:00Rob, babe...check your email please.Hey, I haven't...Rob, babe...check your email please.<BR/><BR/>Hey, I haven't been over to Nigel's I love Casey board in a day or so, does anyone know if he responded to my questions? I'd rather not go over there to check and give him hits if it's not necessary. Thnx.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-17724774945153002932007-03-20T10:38:00.000-07:002007-03-20T10:38:00.000-07:00Brutal short squeeze on NDE right now. Good thing...Brutal short squeeze on NDE right now. Good thing my short trades last all of 20-30 minutes. None of this all day hold to get squeezed business. Then again, I can't get shares to short anyway today.ratlabhttps://www.blogger.com/profile/14362015111310505599noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-60976822445836252402007-03-20T10:26:00.000-07:002007-03-20T10:26:00.000-07:00Nigel already posted his pollyanna screed. Shock...Nigel already posted his pollyanna screed. Shocking, shocking I tell you discover his optimism in the latest numbers. Totally sophomoric analysis. He doesn't even know what he doesn't know. I rely on Calculated Risk for my housing starts analysis.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-12110408691461077302007-03-20T10:18:00.000-07:002007-03-20T10:18:00.000-07:00I'm just waiting for Nigel to post a 3000 word ent...I'm just waiting for Nigel to post a 3000 word entry on all of the "positive" housing start news.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-63763989151860687782007-03-20T10:15:00.000-07:002007-03-20T10:15:00.000-07:00Just creating another opportunity to short the bej...Just creating another opportunity to short the bejeezus out of it again once all the latecomers have their stops shaken.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-83286396838166321992007-03-20T10:09:00.000-07:002007-03-20T10:09:00.000-07:00I'm dumber than a caveman and I'm still smart enou...I'm dumber than a caveman and I'm still smart enough to know you don't short a rigged market. I am in some long gold futures spreads that are finally looking up.Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-37593916189614881102007-03-20T09:40:00.000-07:002007-03-20T09:40:00.000-07:00Your friendly neighborhood PPT at work.Your friendly neighborhood PPT at work.FlyingMonkeyWarriorhttps://www.blogger.com/profile/01770643973751363527noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-29466607335219539482007-03-20T09:36:00.000-07:002007-03-20T09:36:00.000-07:00I can't even get shares to short for LEND. And to...I can't even get shares to short for LEND. And today, I got c@ckblocked on trying to short NDE. This is getting ridiculous. I had no problems shorting NDE yesterday. The daily moves by both LEND and NDE are predictable. Opens up, then trends down for the day. Of course, the housing starts number released this morning and whatever crap the sub-p execs meeting today at some resort will release as a soundbite will prop the lenders' stocks up today.ratlabhttps://www.blogger.com/profile/14362015111310505599noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-35433172238793050162007-03-20T09:23:00.001-07:002007-03-20T09:23:00.001-07:00Good article in the NY Times today about one of Ca...Good article in the NY Times today about one of Casey's gurus (Russ Whitney) and what a scam he is:<BR/><BR/>http://www.nytimes.com/2007/03/18/realestate/keymagazine/318RUSS.t.html?_r=1&oref=sloginAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-49237970859709524802007-03-20T09:23:00.000-07:002007-03-20T09:23:00.000-07:00SnowflakeF*cktardCondomhatFavorite Failed FlipperB...Snowflake<BR/>F*cktard<BR/>Condomhat<BR/>Favorite Failed Flipper<BR/>Bubba's B*tch<BR/><BR/>and now Casey the Dancing Monkey.<BR/><BR/>http://www.lessurban.com/2007/03/18/on-casey-the-dancing-monkey/<BR/><BR/>Rob, I leave it up to you and your mind-shaped-by-the-english-teacher to come up with the sufficient photo...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-35411838491054528412007-03-20T09:10:00.000-07:002007-03-20T09:10:00.000-07:00did you short it rob? anyone?did you short it rob? anyone?aaronhttps://www.blogger.com/profile/11232800121806534724noreply@blogger.comtag:blogger.com,1999:blog-7514357.post-56818234266017209892007-03-20T09:06:00.001-07:002007-03-20T09:06:00.001-07:00OUCH!OUCH!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7514357.post-20179518156592169102007-03-20T09:06:00.000-07:002007-03-20T09:06:00.000-07:00It's a classic short squeeze. I wouldn't necessar...It's a classic short squeeze. I wouldn't necessarily blame the big players, the short interest on these got so large that it was inevitable that there would be a squeeze if they managed to survive a few more weeks. It just got too easy to short them and make money, and when that happens the squeeze is inevitable.Peripheral Visionaryhttps://www.blogger.com/profile/02489447120517274000noreply@blogger.com