Home Mortgage Aid

Bank of America rolled the dice a few months ago when they committed two billion dollars to underwriting Countrywide’s short term cash flow problems. With that gamble, BofA was banking on a relatively modest recovery in the housing and mortgage market. Obviously, that has not happened. Had Countrywide’s stock improved, Bank of America had an […]

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consider selling financial after a presumed .25 cut, or before that if there is a significant run up.

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Countrywide continues to offer mortgages, although it seems they are exiting the subprime area. For a company almost given up for dead a few weeks ago, they seem to be emerging from their darkest hour. Having already started the painful downsizing of lay-offs and more stringent loan requirements, they also now have a major financier […]

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My stock in Wachovia bounced well with Bernanke’s unexpected .50 rate cut. It was up as high as 53, but now has settled back down into the mid 51s. I wish I had sold at 53, as I wasn’t planning on this being a long term hold. Until I find something better to put it […]

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bought Wendy’s today at 32.60…looks like a strong candidate to be bought out by billionaire investor, Norman Peltz, owner of TRIARC. He already owns Arby’s and recently signed a non-disclosure agreement to get a chance to look at Wendy’s books. Prior to this recent development, Peltz said he would be considering an offer between […]

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Depending on who you ask, holders of LEND were treated to either a great ride or a bad stomachache yesterday. The stock shot up over 50%, from a Thursday close of $6.50 to a peak around $10, then sold off gains to $8.66. The main reason for this rocket was an announcement that LEND had […]

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Accredited Home Lenders Holding Company
Currently trading at $7, supposedly going to be bought for $15…more to come
http://finance.yahoo.com/q?d=t&s=LEND
Cramer insists the $15 will go through unless Loanstar goes bankrupt.
Click Here for the The Street video
Interesting discussion of options from Google Finance

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Shortly after the opening bell yesterday, BNP Paribas announced they were pausing three of their largest funds due to uncertainty in the U.S. home lending market. BNP Paribas is not the first bank to announce problems stemming from the rising tide of loan problems here, but they are the most recent. Other European establishments have […]

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American Home Mortgage shares were down sharply today after a discouraging news release that stated multiple problems. Lenders are demanding more hard currency backing, the dividends have been delayed, and write-downs are increasing. Shares fells as far as $6,25 today, off the previous close of $10 and reaching levels not seen since 2003. The stock […]

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