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I still remember your posts from waaaaaay back in the day. Strange how much time has passed.
I often wonder what that Denke character is up to. :)
Pfft....July, August....
Who made you calendar police?
True story.
I went into my WaMu branch on Wed to close my accounts. The lady teller of course asked me why, and I responded, "Well, your bank is about to be seized, and I felt it wise to move my funds."
She replied, "That's ridiculous sir, our bank is healthy, not sure what you've been hearing,", to which I replied, "Maybe so, but I'm still closing my accounts."
Took my cashier's check, went literally across the street and opened accounts with a Columbia Credit Union branch.
Next morning on Thursday, I awoke to the news the bank had been seized. I often wonder what that lady teller thought...
No, I don't agree that's why, Woody.
The real reason is.....it's Wednesday.
Oh great.
Which just means they can hold the share price down.
Yay.
Ok, thanks for the response, makes sense.
"So, you lose a bunch of money on the servicing side, and make a bunch on the production side."
Although, one would think the newly produced loans would also need servicing, and end up back in the flow. But yeah, a lot of things you point out ring true.
While I get your drift, what I don't understand is why interest rates impact a servicer?
"Mortgage servicing rights (MSR) are a specific arrangement where a third party promises to collect mortgage payments on behalf of a lender in exchange for a fee."
Ok, now a drop in mortgages to service, I would get. But COOP mostly thrives on existing lines for existing profits, and defaults impact the lender, not them, other then the loss of that particular service fee.
"While what is now an all-out war on naked short sellers intensifies, there is a new flashpoint on the front line–a potentially devastating ruling targeting those who are alleged to make illegal naked short selling possible: The Facilitators: bankers and brokers."
I'm ok with this....
"Part of the changes includes evaluating its “real estate footprint, streamlining our operating model, and staffing reductions, largely in non-client-facing areas,” a Schwab spokesperson said."
Work from home changed a lot of things, and there are a lot of companies evaluating whether they need that brick and mortar or not. I've worked from home for almost 18 years now, and when covid hit I watched a lot of my coworkers having difficulty adapting to it. Many just didn't have the right mindset to pull it off.
It's Wednesday?
Just trying to be helpful...
Geez, how about announcing dividends to their shareholders?
Yeah, I know....
Well, truthfully we are.
But just in the same zig zaggy way we’ve been watching for over 15 years.
Your mileage may vary….
We've seen this game over, and over, and over through the years.
They say hate the game, not the player. Well yeah, I kind of despise wall street at this point....
Nor will I exchange my mortgage free property for one with a loan, at any rate.
They’ll have to build their way out of this one…
Check out SW Missouri, seriously.
Beautiful area, home prices are reasonable, and not that far from where you are now. I cast about a lot of areas before moving, ruled out FL and TX for the reasons you gave, AND everyone was moving there which is exactly what I wasn't looking for. And the humidity is fine here.
Just don't tell other people about it! :)
Have you considered areas other than AZ?
Their median price is much higher than many other areas, probably because of Californians fleeing.
But you're right about Illinois....
Oh really?
You're the one, who tells everyone what we're talking about today?
Seriously? Another for the iggy list...
If everyone put him on ignore, it would be like he didn't even exist.
Not to mention, since the 08 crash houses have not been being built like in the past, and there was already a severe shortage.
Houses are still rising in my area, if slowly.
"Finding that out would be important for us because then we could possibly travel back in time and then buy more shares of COOP. But Schrödinger's cat we leave out rather, because she complicates only everything, LOL"
Let's first concentrate on moving forward in time, which is proven. Maybe another 10-15 years. just to get this bankruptcy crap behind us.
Hmmm....second thought, make it 20. LOL...
Hey, do you know the story about Bi-Zi farms in Vancouver WA?
Been there like a 150 years, and for the past number of years, they have been fighting Washington State over water rights, including a century old well on their own property.
Hell, I used to be proud of myself for caring for 1 acre at our SW Washington property.
A 100?....respect!
LOL! I would say that's where the PM's go, but I got a safe for that and cash... 😉
I get the "cleanest shirt in the dirty laundry" analogy, but I would be amiss not to consider all possibilities.
Based on the latest financial disclosure, Charles Schwab Corp has a Probability Of Bankruptcy of 34.0%. This is 31.9% lower than that of the Capital Markets sector and 22.46% lower than that of the Financials industry. The probability of bankruptcy for all United States stocks is 14.64% higher than that of the company.
Ugh.
Thanks, but listening to the CEO doing what they have to do (PR), isn't really assuring.
Unrealized losses on the firm’s balance sheet, loaded with long-dated bonds, ballooned to more than $29 billion last year.
At the same time, higher interest rates are encouraging customers to move their cash out of certain accounts that underpin Schwab’s business and bolster its bottom line.
It’s another indication that the Federal Reserve’s rapid policy tightening caught the financial world flat-footed after decades of declining rates. Schwab shares have lost more than a quarter of their value since March 8, with some Wall Street analysts expecting earnings to suffer.
I mean, even Lehman crowed about how stable they were before the end. What's ironic, WAMU was one of the few who ACTUALLY who could have withstood the downturn, until Sheila and Jamie put their plan into action....
Has anyone else been watching the rumors of Schwab being in some difficulty? Still trying to adjust to being shoved over there.
Finally. other than just acting like an excited cheerleader, you wrote something that I've been considering for some time.
So much for Bray's, "we are maximizing shareholder value", as they try to buy out shares stealthily.
Only reason I'm aware Loadasss is stil around, is because of those responding to him.
Well at least she's back in the 54's for now
You just had to go open your mouth, didn't you? 😆
At least my accounts showed up in Schwab. I guess I should be happy about that...
Yeah I know some were.
Just strange that it's taking that long to move others. 2024??
That is strange.
Mine move this weekend.
LOL, as did I.
I seriously despise their after hour games:
Consolidated Last Trade $48.79 -8.90 (-15.43%)
Haven't sold a share yet all these years.
But I don't know if it's due to stubbornness, or just pure stupidity. I watched all these people doing the sell, buy, rinse, repeat, and often wondered what exactly I was doing. Maybe I was right just to be patient and wait. But at some point, yes, you must sell.
Otherwise, what's the point?
Also, rate hike today. So even though that was already baked in, might of helped push it a bit.
Shrug.
Only due to 1 share.
But it makes you wonder if it’s another MM signal on direction tomorrow. Or someone seriously fat-fingered a trade….
I love the smell of shorts burning...
"Sure. Agreed. May I ask that you look in a mirror the next time you say that so the message is fully distributed."
Now that there is funny... 😆
There are powers that be, who I assume are desperately trying to keep a lid on this.
Or MM's, who don't want to loose control of a cash cow.