Hints and tips:
...“It would have been a great lesson in moral hazard,” he said. “Losses to depositors would have been immaterial, and it would have driven home the point that risk management is essential....
...On current multiples LSL is trading on a PE of 12.8x fo Dec 2020 while Countrywide is on 12.2x our 2020 estimates albeit it has c. £75m of debt vs a market cap of c. £123m....
...“A lot of lenders moved away from accepting as much variable income as they did before the pandemic,” says David Hollingworth, director at mortgage broker L&C Mortgages....
...They’ll be closing a fifth of the leisure estate (where like-for-likes are 2.8 per cent) and have bundled the US Wagamama operations into a JV with Conversion Venture Capital....
...But the so-called “procuration fee” that a lender pays to a broker – typically 0.35 per cent of the loan – is only handed over when a mortgage completes....
...Higher mortgage banking income, trading account profits and investment and brokerage services income reflected the addition of Merrill Lynch and Countrywide....
...Countrywide Home Loans Servicing LP, et al is ostensibly brought on behalf of a class of purchasers of certain mortgage pass-through certificates for which CWALT, Inc. and various issuing trusts filed registration...
...A year later, losses that left Countrywide on the brink of bankruptcy are pushing the biggest US home lender into the arms of Bank of America, in a deal that may yet fall through....
...Other mortgage lenders also suffered. Countrywide Financial fell 4.9 per cent to $6.64, while Washington Mutual fell 6.3 per cent to $15.73....
...Conforming mortgage loans from the Government (that is all that is left in the mortgage market) have moved up half of a percent in the past few days....
...Worries about possible liquidity problems at Countrywide Financial continued to dog the stock....
...Prahalad, C. K. & Hart, S. L. 2002. “The Fortune at the Bottom of the Pyramid.”. Strategy + Business, 26: 54-67. Sirmon, D. G., Hitt, M. A. & Ireland, R. D. 2007....
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