Hints and tips:
...Walt Schmidt, head mortgage strategy at FHN Financial, notes institutional investors have absorbed nasty losses this year and are also hesitant to buy....
...policy has “a bit of a self-fulfilling nature to it”, given that higher home prices push the limit higher which further supports rising prices, according to Walt Schmidt, who leads mortgage strategy at FHN...
...Jim Vogel, head of the interest rate strategy group at FHN Financial, said he was hoping to get answers to questions such as: “We have heard from many who want to get the taper moving....
...Mortgage rates “could fall another 30-50 basis points from here, if Treasuries stay stable,” said Walt Schmidt, who leads mortgage strategy at FHN Financial....
...“The timing of these [announcements] has everything to do with market volatility generally,” said Walt Schmidt, mortgage strategist at FHN Financial....
...Walt Schmidt, head of mortgage strategy at FHN Financial, agreed that rates could go lower, but pointed out that the average mortgage rate obscures an unusually wide range of rates available, depending on...
...will emerge from the shutdown with the creditworthiness to refinance, which “creates confusion for investors trying to figure out pre-payment rates”, said Walter Schmidt, head of mortgage strategies at FHN...
...It has also struck a deal that allows it to acquire a further 12.5 per cent in FHN at $3.32 a share in 2015....
...Under the transaction announced last month, Afren is proposing to buy 18m shares in FHN at $2.47 per share....
...The deals have attracted controversy because of equity stakes held in FHN by Afren’s own directors and senior staff....
...This follows completion of the sale to Nigeria-based FHN of a 45 per cent stake in the onshore block by Royal Dutch Shell, Total of France and Eni of Italy in November 2011....
...Labi Ogunbiyi, chief executive of FHN, says the main difficulty is not raising capital, but the competition....
...Shell went on to sell its stake in another block, OML26, to local group First Hydrocarbon Nigeria (FHN), an affiliate of Afren....
...If we assume that 2% of everyone’s book is reclassified, cumulative losses are 55%, and there are no existing reserves, the hits to tangible book in all cases are <2% and only three banks are over 1% (FHN...
...FHN was created with Afren as 40 per cent shareholder, manager and operator. The remaining equity is held by two Nigerian banks. For now, FHN is a shell, as Afren scouts for assets for it....
...“FHN was set up to take advantage of divestment from the majors....
...Seven banks (FHN, TCBI, MI, PNC, C, BBT, MTB) witnessed improvement in their NCO ratios, up from just one last quarter....
...Bank stocks sold off nearly 3% today on increased regulatory concerns and to a lesser extent disappointing earnings from BAC (high bar after JPM) and FHN (disappointing credit in the core book and sluggish...
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