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Good afternoon R&G Financial Corporation (fka RGFCQ) () looking for a strong hour of power!
RGFCQ: SEC Administrative Proceeding:
http://www.sec.gov/litigation/admin/2013/34-69704.pdf
Stock not canceled.
What makes you think it will be cancelled?
Stock won't be canceled. I'm in this long term. It should have a massive bounce some time in the future. I'll wait.
Will the stock be canceled today? Anyway 52-week low 0.0001 hit now!
This is going to be sweet beyond measure next year.
This is just waiting to explode. Latin markets/Scotiabank. Come on...it's a no brainer!
Whoever keeps tossin those $10 sells in there every day is nuts. I'm holding this puppy for as long as it takes for the Q to come off even if it takes a year. Got tons of shares and not parting with not even 1 share. I'll ride this puppy either to the gold vault or to the toilet. And that's a fact.
I wish I could read Spanish:
http://www.vocero.com/tag/rg-premier-bank
How does this effect us?
http://es-es.facebook.com/media/set/?set=a.398146782152.166081.288897937152&type=3
Ooooo... strange ..... deja-vu. Jou calling me a basher and am not. Now i have fun you are now called a basher.
Thank you L2 hunter
no one calling u a basher, still far from that
MMs trying to bring it up on extreamly low volume.
You do post as much.I told you last Friday to get and sell at 0.011. This was move to bring it up and take it down, that is what G does best. I do not want to come with I told you but it was obvious from last Friday's drop from 0.011 to 0.0075! People were calling me a basher,no, just smarter after VMSY%
Chart setting up. Could run tomorrow. 0016x002 and no 0016 bid whackers. Nice.
Anybody here the outcome of the hearing yesterday?
next stop .05 - .10 , oh yeah we have to get past .002 first. where are the clowns today with their rediculous predictions
I looked at the situation here and what happened in the last two days. Definately oversold and MMs taking advantage of it. Could go lower depending on how many sells they can rope in. Took a hard look at the entire company and what they really are, and the large number of shares I have. Wouldn't take much to get me back in the green from where the ask is today. Sometime in the following year all this is going to be behind this company and their stock will be up so much from now that it will be mind-boggeling. With the large amount of shares I have, I have decided to hold this for a year if needed, and go long, and go for the extreamly big bucks. The massive reward with the amount of shares I have is too enourmous to pass it up. Wishing everyone the best. Bye.
Keep in mind we had approx. 5 million shares traded last week and many paid far more than the pps now, watch for the rebound and wipe your tears! Cheap shares here will be swallowed soon!imo
Panick sellers, this was brought down by a few small amateur traders, Watch and Learn, unfortunately I was working but will get this back in play!
Big big mistake, I plan on adding in the am and will prosper mark my post!!!!!!!!!!!!
They'll be back 2nd Tuesday of next week!
You did get that right,tank!!!!!!!! I told the two posters who are pushing this one the same thing including G,where is he?
Afraid not... no merger that I know of. Others here were posting there might be one.
You've R/M link?
Yea, but what about the merger???
Warning from Button~ Leave!!!
im out! for good!
After the accumulation yesterday we have a good chance to take out 01 today.
I said $1 as a 1 year target by analist. Never said what it might get to today. That was someone else. It will go up. If not today, then wait a bit. It's coming.
Before close big ask hit. Close 004x0049 ask is crazy thin. Ready to go back up in the morning. Today 1.4 m shares accumulate 004-006. Ask thining out. Tomorrw we see what happens. Down or New hood! We'll see.
got some eod selling looks done!
Where is everyone that were saying .01 to .10 today? Some even talking $1!!
5k@0055 5k@0059 27k@007 and kabummmmm no resistance.
I have enough shares. Way over that. I did my part already.
Then slap the ask a little buddy!!! I bought all the 5's
Watch l2. And see this afternoon. Moving green. Watch it
Chart looking good. Strong bid but no one sell. Ask hitting will follow soon. Very thin.
0055 up going into this afternoon.
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G Financial Enters into Settlement Agreement with Freddie Mac
R&G Mortgage and R-G Premier Bank remain as Approved Freddie Mac Seller/Servicers Announces Sale of Freddie Mac and Ginnie Mae Servicing Portfolio to Banco Popular de Puerto Rico
SAN JUAN, Puerto Rico, Sept 17, 2008 /PRNewswire-FirstCall via COMTEX/ -- R&G Financial Corporation (the "Company") today announced that R&G Mortgage Corporation, the Company's wholly-owned Puerto Rico mortgage subsidiary ("R&G Mortgage"), R-G Premier Bank of Puerto Rico, the Company's wholly-owned Puerto Rico chartered commercial bank subsidiary ("Premier Bank"), and the Federal Home Loan Mortgage Corporation ("Freddie Mac") entered into an agreement to settle the litigation with Freddie Mac previously announced in a press release dated July 16, 2008. According to the terms of the settlement, R&G Mortgage and Premier Bank will remain as approved Freddie Mac seller/servicers in good standing. The settlement is subject to approval by the United States District Court, District of Puerto Rico, and may be rescinded by Freddie Mac if the transaction contemplated in the agreement described below is not consummated within a certain time period.
The Company today also announced that the Company, R&G Mortgage and Banco Popular de Puerto Rico ("Banco Popular") entered into a Servicing Rights Purchase and Transfer Agreement (the "Purchase Agreement"), dated as of September 16, 2008, pursuant to which Banco Popular agreed to purchase substantially all of R&G Mortgage's servicing rights and advances related to mortgage loans owned by Freddie Mac and the Government National Mortgage Association ("Ginnie Mae"). As of August 31, 2008, the unpaid principal balance of the Freddie Mac and Ginnie Mae mortgage servicing portfolios was approximately $3.8 billion and $1.3 billion, respectively, representing approximately 57% of R&G Mortgage's servicing portfolio. This transaction does not affect R&G Mortgage's remaining third party mortgage servicing portfolio or the mortgages that R&G Mortgage services for Premier Bank, which together had an aggregate unpaid principal balance of approximately $4.1 billion as of August 31, 2008.
Banco Popular will acquire these assets for an estimated purchase price of $34 million. At the closing, Banco Popular will also assume R&G Mortgage's recourse obligations in connection with the approximately $1.2 billion Freddie Mac mortgage loans subject to recourse. The final purchase price will be determined at the closing of the transaction based on the unpaid principal balance of the Freddie Mac and Ginnie Mae mortgage loans and the outstanding balance of the servicing advances at closing. The purchase price will be paid in installments, 95% being due five days after the closing and the remaining five percent being payable in quarterly installments based on delivery of the related mortgage files to Banco Popular as of each such payment date. A portion of the proceeds will be used to repay approximately $14 million currently outstanding under a line of credit with Banco Popular secured by the Ginnie Mae servicing rights and to deposit $5 million in escrow to satisfy certain indemnification claims by Banco Popular. Moreover, under the terms of the agreement with Banco Popular, R&G Mortgage must satisfy its outstanding recourse obligations to Freddie Mac prior to closing. R&G Mortgage has satisfied its outstanding recourse obligations to Freddie Mac as of June 30, 2008 by repurchasing approximately $17 million in mortgage loans.
The Purchase Agreement contains customary representations, warranties and agreements by the parties, indemnification rights and obligations of the parties and termination provisions. Additionally, the Purchase Agreement provides for indemnification rights in favor of Banco Popular in connection with certain repurchase or indemnity obligations related to breaches of representations and warranties made to Freddie Mac and Ginnie Mae upon the sale of the mortgage loans originated by R&G Mortgage. R&G Mortgage's obligation to indemnify Banco Popular under the Purchase Agreement may not exceed $10 million, except for claims related to Banco Popular's indemnification right in connection with breaches of representations and warranties made to Freddie Mac and Ginnie Mae and the transfer of the servicing rights. The Company has agreed to guarantee R&G Mortgage's obligations under the Purchase Agreement. The consummation of the transaction contemplated by the Purchase Agreement is subject to the satisfaction or waiver of customary closing conditions, including receipt of applicable approvals from Freddie Mac and Ginnie Mae. The closing of the transaction is expected to occur in the fourth quarter of 2008.
Forward-Looking Statements
This press release contains certain "forward-looking statements" concerning the Company's economic future performance. The words or phrases "expect," "believe," "anticipate," "estimate," "intend," "look forward," "should" and similar expressions are meant to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.
The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and to advise readers that a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to, the following: the Company's ability to attract new clients and retain existing clients; risks associated with the effects of global, national and regional economic and political conditions, including with respect to fluctuations in interest rates; risks associated with the Company's inability to prepare and timely file financial statements; potential adverse effects if the Company is required to recognize additional impairment charges or other adverse accounting-related developments; potential adverse developments from enforcement actions by bank regulatory agencies; and developments from changes in the regulatory and legal environment for financial services companies in Puerto Rico and the United States. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.
About R-G Financial Corporation
R&G Financial Corporation, currently in its 36th year of operation, is a bank holding company with operations in Puerto Rico, providing banking, mortgage banking, consumer finance and insurance through its wholly owned subsidiaries, R-G Premier Bank of Puerto Rico, R&G Mortgage Corporation, and R-G Insurance Corporation, its Puerto Rico insurance agency. The Company operates 36 bank branches and 44 mortgage offices, including 36 mortgage facilities located within its banking branches.
SOURCE R&G Financial Corporation
Conócenos | Sucursales | Productos | R-G Online
Para cualquier duda, necesidad o pregunta envíanos un correo electrónico a webmaster@rgonline.com
Copyright © 2009
O.C.I.F Lic #22
Información Importante sobre el Programa de Garantia de Cuentas Transaccionales
Online Privacy Policy/Política de Privacidad
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