American Premium Water Corp. (HIPH)

[fanglemeister]

The way this works:

1. Origination income = loan app fees, title search & insurance fees, etc. This is not usually big bucks, but (usually) nonrefundable regardless of application outcome.

2. Applicant gets approved and closing is scheduled. (or not, in which case Expert's CreditfixUSA might enter picture, if retail level app is denied)

3. Closing income = CHA-ching!!! Points, closing costs, etc. all coming in.

So the $110 million origination's net profit, for example, is (probably) not going to be substantial, income-statement-wise, until it is closed out and can be put totally on the books.

My 2 cents worth of free opinion:

EXPU shares = no-brainer investment at these levels, anything near .07 is about equal to net income from two well-run storefronts in a VERY down market. We have three stores now, in the heart of the #4 RE market in the country, which is, right now, experiencing a nice healthy rebound.