Flagstar Bancorp Inc (FBC)

[guster0]

A bit surprised over our current PPS vs Last years PPS

Last year we were in the twenty's until the MBS litigation started.
This year the headwinds have all but gone away. We have 2.5 billion + cash on the BS (watch for updated info around Jan 22, 2014)
Biz is ok (see last sentence)
We are currently trading at 18.34 as I type.
We have a BV of 17.98
We have 5.22 cents in TDA's
So a true book around Twenty-three
So if you took Twenty-three divide that by 2 that is twelve fifty
You then take 12.50 add that to 23.00 so we get 35.50 is where a profitable bank including the mortgage side should be trading.

BIG DISCONNECT HERE.
The talk on the street is BANKS IN 2014
SO YOU BETTER NOT POUT YOU BETTER NOT CRY FBC IS COMING TO TOWN!
(town = above 30.00 + in PPS in 2014)
IMHO!!!! Less