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Sometimes my Time & Sales shows double the amount traded... Sometimes it doesn't... I haven't figured that one out yet.
I'm only showing 700 traded today. I got none so far.
Is anything showing on L2 for AHMMQ? Another 1400 traded today at .0001. Is anyone here acquiring at .0001?
you'd be lucky to get something at ask, a few time it traded around .10 while the ask is at .02
Bidding & MM's not showing it!
I'm glad you found that. Thanks for posting.
I guess it's not a failed bank since if it was, FDIC would show it like this
http://www2.fdic.gov/idasp/confirmation_outside.asp?inCert1=29730
history http://www2.fdic.gov/idasp/main2.asp
No, and I haven't a clue as to what the current status of the bank is.. All I know is that Flower Bank was renamed American Home Bank after the acquisition.
http://findarticles.com/p/articles/mi_qn4189/is_20060821/ai_n16687960
http://www.mortgagemag.com/news/2006/1016/1000006133070.htm
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http://finance.google.com/finance?q=OTC:AHMIQ
An excerpt from last paragraph on page:
"In February 2007, Flower Bank, fsb changed its name to American Home Bank."
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Following is an FDIC site link to American Home Bank. I can't tell whether or not it is the same due to several American Home Bank variations out there. Perhaps, you'd like to play around with the site. My brain is toast for the day. I'm off the computer now.
http://www2.fdic.gov/idasp/confirmation_outside.asp?inCert1=32569
In Reply To 'lifegear':
***did you see anything about FDIC seizing American Home Bank?***
did you see anything about FDIC seizing American Home Bank?
You are correct in that Ross only bought the loan servicing unit for 500m. The 500m went toward AHM debt, most likely leaving a shortfall. Following is information from a previous post of mine:
AHMSI is a mortgaging servicing unit created by affiliates of Ross purchasing loan servicing platforms from AHMIQ and H&R Block. It is strictly in the loan servicing business.
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http://findarticles.com/p/articles/mi_m0EIN/is_/ai_n27387657
Sept 26, 2007
Excerpts:
"the U.S. Bankruptcy Court for the District of Delaware approved an entity sponsored by WL Ross & Company LLC as the stalking horse bidder for American Home's mortgage servicing platform and mortgage servicing rights."
“Notwithstanding the value which may be realized in the proposed sale of the mortgage servicing assets and mortgage servicing platform, as previously disclosed, the Company does not believe that the sale of its assets in the chapter 11 process will enable it to pay its creditors in full or that there will be any funds remaining for distribution to its equity securityholders.”
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http://findarticles.com/p/articles/mi_m0EIN/is_/ai_n21027282
Oct 5, 2007
Excerpt:
“American Home Investment Corp. (OTC:AHMIQ) ("American Home") today announced that the stalking horse bid of AH Mortgage Acquisition Co., an entity sponsored by WL Ross & Co. LLC, was selected as the highest and best offer for American Home's mortgage servicing platform and mortgage servicing rights. The sale of the servicing business is subject to the approval of the U.S. Bankruptcy Court for the District of Delaware. A sale approval hearing is scheduled for October 15, 2007. Financial closing of the transaction is anticipated by the end of October.”
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http://mortgage.freedomblogging.com/2008/05/01/hr-block-closes-sale-of-irvine-loan-servicing-unit/
May 1st, 2008
Excerpt:
“Tax preparer H&R Block said Thursday that it closed the sale of Irvine-based subprime unit Option One Mortgage Corp.’s loan servicing business to an affiliate of WL Ross & Co., generating net cash of $230 million.”
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http://ahmsi3.com/servicing/ahmsi_aboutus.asp
Excerpt:
“Established in April 2008, AHMSI brought together two mortgage loan servicing platforms, each with strong capabilities and specialized expertise. By multiplying these strengths, the company has achieved more than the sum of its parts – it has taken servicing to new levels. With a multibillion portfolio under management, AHMSI is one of the country’s largest servicers of Alt-A and subprime loans.”
In Reply To 'lifegear'
***"Over the past year or so he has taken a big stake in bond insurer Assured Guaranty (AGO), purchased H&R Block's (HRB) subprime mortgage servicing unit and acquired American Home Mortgage Investment out of bankruptcy."
I thought Ross only bought the loan servicing unit for $500m?
http://money.cnn.com/2009/01/16/news/ross.bank.fortune/?postversion=2009011610
***
here's the last 10Q before bankruptcy filing....
$1.2B in book value with 54.2M in o/s = around $22 book value
http://knobias.10kwizard.com/filing.php?param=&ipage=4923307&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=
their bank doesn't say anything about FDIC seizure http://www.ahbank.com/aboutAHB.aspx
Never, thats kind of what got me interested!
thats what im saying i dont know sorry
have you seen a 2.14m o/s preferred stock at .0001? lol
what if he decides to buy AHM bank too? was the bank seized by the FDIC?
to be honest im lost on this stock, i dont know who owns what service comp, hold comp, bank comp???? Ross also just baught a Florida reginal bank says he will use it to add others reginal banks too. Makes it possible to be able to take part in fdic friday night name changes to diferant bank Mon morning.
No clue lost dont understand hearing this week so maybe some light.
acquired American Home Mortgage Investment out of bankruptcy, hmmmm, gonna look into this one!
"Over the past year or so he has taken a big stake in bond insurer Assured Guaranty (AGO), purchased H&R Block's (HRB) subprime mortgage servicing unit and acquired American Home Mortgage Investment out of bankruptcy."
I thought Ross only bought the loan servicing unit for $500m?
http://money.cnn.com/2009/01/16/news/ross.bank.fortune/?postversion=2009011610
January 16, 2009 E-mail this article
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Written by Laurie Forbes
American Home Mortgage Takes 182,700 SF in Dallas Area
Banking Company Relocates HQ to Duke's Spec Office Bldg. in Coppell
American Home Mortgage Servicing Inc., a residential banking company, signed a 182,700-square-foot lease to fully occupy Point West I, a spec office building Duke Realty Corp. developed last year in Coppell, TX.
AHMSI is in growth mode and was looking to relocate its headquarters, consolidate operations and add new employees. It had outgrown the space it occupied at 4600 Regent Blvd., a 79,810-square-foot office property in Irving.
The mortgage company will house more than 1,200 existing and new employees at Duke's three-story office building at 1525 S. Belt Line Road, about 20 miles northwest of Dallas.
“The lease of Point West I is one of the largest leases of speculative office space in this market and we are grateful for everyone’s efforts in finalizing the deal,” said Ben Appleby, a leasing representative with Duke, who along with Dale Ray and Joel Pustmueller of Peloton Realty Partners represented the landlord.
Bo Bond and Forshey Hoobler of Jones Lang LaSalle represented AHMSI.
http://www.costar.com/News/Article.aspx?id=345A6D03BEEDC4970824E5F6CCCA622F
i recall 1031 exchange department but were i got that info cant remember , they could have anything from title work to motgage insurance, maybe survey ors or apraisers investment advisors just nameing some stuff but i do recal 1031 mabe they have property managmant company thats a whole myrad of stuff from brokers to land scapers of course the bulk is mortgage maintinance but that seems to have been liquidated MAYBE the physical ofices and realistate some whewre owned i bet.
I read in the disclosure filings that there are some non-debtor (non-bankrupt) subsidiaries that are not included in chapter 11 for example the bank but I haven't read the whole thing yet.
didn't the bankruptcy filing state that there could be some changes in the chapter 11 plan before the end of the month? didn't this company receive any of the TARP money?
Jan effect looks good lots of money on side lines ,fingers crossed hope for bounce move .
almost all the Q stocks are going up, maybe this will get a dead cat bounce at least LOL
1600 volume at .001 up 900% it's a start I suppose lol, now pls take this back to 25.00 liquidation value
no i couldnt even find the GM bonds everbody was talking about sorry.zero experiance with bonds.
do you know if any of their bonds still trade?
that would be pro rata ? its in the document/letter.
I was reading on cumulative preferred shares like the Series A we have under AHMMQ
unpaid and accrued (cumulative) dividends are payable to the holders of this type of preffered stock
I remember they held off payment for one quarter's worth of dividend before bankruptcy filing
the question is are they still liable for dividends accumulated during the bankruptcy protection period?
I need to find out if the Series A is also perpetual that last forever
to add or not to add that is the question
27k went thru today at .0001
that's puzzling to me
I'm only holding the Series A, not the common =(
commons tradeing higher on all this hit .04 and .035
secured are the bonds
hmmmm...Preferred shares are debt securities and we're looking at a debt settlement? why is this stuck at .0001?
I think the unsecured creditors come first before the preferred shares and it looks like the unsecured creditors are getting just a tiny fraction of what they're owed
its not a liquidation its debt setlement chap11 not chap7 I give up
the equity interest holders are not entitled to vote on the plan
yes of course why are you worried it goes bonds prefered then common
The Series A Preferred Stock and Series B Preferred Stock rank senior to our common stock
with respect to dividend rights, redemption rights and rights upon our voluntary
or involuntary liquidation, dissolution or winding up. The terms of the Series A
Preferred Stock and Series B Preferred Stock require that all accumulated
dividends in arrears be paid prior to the payment of any dividends on our common
stock.
still got a partial out there for 50000 not filled but geting some
maybe if your broker takes partial fills for several months and only charge one comissin . I just got some commans and it took two days to fill at .0022 10000
historical volume says diferant MM play with themselves
how can a 2m preferred stock trade at .0001 while common stock ahmiq trades close to .04?
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Bankruptcy Auction, largest deals All times, through today All industries / Any status 328 deals found! ($13,949 mill.) 1 2 3 4 5 6 7 8 9 10 Next Seller Target Bidder Announcement date Status Value ($mil) 1 American Home Mortgage Investment Corp. American Home Mortgage Investment Corp. - 5,700 mortgage loans - 08/09/07 Still on the block 1,620.00 2 Southeast Banking Corp. Southeast Banking Corp. - 01/10/08 Still on the block 1,500.00
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