Lots of correspondents and lenders closing this week.

Lots of gov correspondents and lenders closing/pausing this week. Non-qm went out the window last week. They will re-evaluate with the market on 4/13 or 15. At least two with aggregate 1,500+ loan officers. If your puchase money deal wasn't submitted with docs signed and loan locked, you're gonna be jammed up.

πŸ‘︎ 17
πŸ“°︎ r/RealEstate
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πŸ“…︎ Mar 31 2020
🚨︎ report
Correspondent lender is trying to get us to take a higher interest rate (despite locking in) in order to close on time. Advice?

Our story is below, which we have to act on by Monday. Any thoughts would be much appreciated! :)

My wife and I are in escrow to purchase our first home in CA. We offered 30% down, 23 day close, and no loan contingency, which was accepted.

For financing, we are using Commerce Home Mortgage. Our agent urged us to use them over a broker we found, because Commerce could control the approval process and therefore be counted upon to execute within the escrow period.

Shortly after our offer was accepted, we locked in an interest rate with Commerce (3.125% on a 7/1 jumbo loan, with an $830 lender credit).

Unbeknownst to us, the rate that Commerce gave us was ultimately from a lender they do not have a relationship with (Chase), and so a "second approval" was required to originate our loan. The effect of this is that Commerce has zero control over the approval process -- we are at Chase's whim. For whatever reason, Commerce decided not to tell us this fact.

Fast forward to now: Predictably, Chase is moving very slowly. Our closing deadline expired yesterday, but we were given a 7 day extension. Yesterday Commerce finally told us about Chase**, and said that it's unlikely they will be able to make the extension deadline (or even a few days thereafter).

Commerce proposed that they instead originate the loan "in-house", i.e. with another lender that Commerce can approve loans from. However, the same loan would be at 3.375%. The cost to buy down points to our locked in rate would be $7500.

Now our agent is pressuring us to take the higher rate, and seller's agent is threatening to exercise a notice to perform this coming Friday.

Does anyone have advice on what we should do? This is real money to us, and we can't just take that kind of hit -- either upfront or over the life of the loan. I know there's no malice here but it feels like a bait and switch -- we specifically chose Commerce because they are not a broker and could control the transaction, but we are getting the opposite service. Commerce is also telling us that they are prohibited by federal law from making us whole, e.g. by buying down the points, waiving fees, giving us a credit, etc.

** We actually learned of Chase's involvement a week ago from our agent, who informed us that there was a second lender, that they are being slow, and that we should seek an extension.

πŸ‘︎ 7
πŸ“°︎ r/RealEstate
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πŸ‘€︎ u/cw-
πŸ“…︎ Jun 13 2015
🚨︎ report
Correspondent Lenders. Should I consider this refi?

My wife and I have been home owners for a few years now and just today got a call from National Residential Mortgage. The rep said she was a Correspondent Lender for Wells Fargo. She's promising a lower interest rate with no closing costs involved. Has anyone had any experience with this company or correspondent lenders in general that can advise. It feels a bit like a scam.

πŸ‘︎ 4
πŸ“°︎ r/RealEstate
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πŸ‘€︎ u/agnesiswitch
πŸ“…︎ Apr 13 2016
🚨︎ report
$BKI: Undervalued Mortgage Service FinTech with 64% market penetration. Trading at 82, analyst consensus between 95-100+, my target +150.

I posted my technical analysis yesterday in a few subs, but I wanted to post a longer DD in undervalued and educated investing. Please let me know if there is anything I'm missing or more information you would like.

Notice and Holdings

I am not a financial advisor and this post is for informational purposes only. This post does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. It's your money, do your own research

I do hold a small long position in BKI with, as of 19-02-2021 :

70 shares @ avg 81 / share

2x BKI 03/19/2021 85.00 C @ 1.60

2x BKI 04/16/2021 90.00 C @ 0.90

What is Black Knight Inc:

BKI (Black Knight Inc) is a FinTech Mortgage Data, Origination, Servicing, Sub-Servicing, and Investor Tech provider. BKI has 64% mortgage servicing market share, with multiple lines of business expanding existing customer footprints and new origination services as well.

Why it is undervalued:

Massive number of mortgages are 90+ days in default, highest since 2009 great recession.

However, foreclosures being initiated, probably due payment deferral options in COVID-19 stimulus bills: https://www.cnbc.com/2021/02/16/eviction-and-forbearance-protections-extended-for-homeowners.html

https://preview.redd.it/l2ype50lhhi61.png?width=624&format=png&auto=webp&s=0b09552beb8fe81ea028a20222dab7a2930ed5e3

https://cdn.blackknightinc.com/wp-content/uploads/2021/01/BKI_MM_Dec2020_Report.pdf

In conjunction with other macro market forces, I believe the announced payment deferrals are lowering BKI short term perceived value. (I’ll explain why in a minute)

However, BKI is not the same business it was a few years ago. In my opinion BKI should be valued as a FinTech Growth firm rather than a traditional lending play.

Why do I think BKI is valued as a traditional lender? Because I can almost get the exact market price using Discounted Free Cash Flow Valuation.

Even under this old-school valuation, I believe BKI is undervalued. They have consistently beat earnings and have additional Free Cash Flow beginning to flow from their growth into the originator / lender space. (As opposed to their historic focus on Mortgage Service Providers.)

https://preview.redd.it/wsijtvylhhi61.png

... keep reading on reddit ➑

πŸ‘︎ 49
πŸ“°︎ r/Undervalued
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πŸ‘€︎ u/theDaninDanger
πŸ“…︎ Feb 19 2021
🚨︎ report
Working on my first purchase, advice?

Hello my fellow LO's!

I have been originating for about 8 months and have about a year of industry experience. Only thing is I've been almost exclusively refi at both the companies I've worked at. I currently work for a correspondent lender and I'm about to do my first purchase transaction. Does anyone who specializes in purchase have any advice? Or anyone who's been in a similar position as myself? Really want to make sure I'm as educated as possible and don't screw anything up for the borrower.

πŸ‘︎ 3
πŸ“°︎ r/loanoriginators
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πŸ‘€︎ u/Reggimoral
πŸ“…︎ Mar 03 2021
🚨︎ report
$ASPS... DOOM & GLOOM!!!

Okay... my first shot at a public DD for y'all. I don't know shit about fuck so do whatever you want. Foreclosures are currently not happening. Well... let me clarify on that. Let's dive in...

Fannie Mae & Freddie Mac..... from: fafh.gov

Fannie Mae and Freddie Mac were created by Congress. TheyΒ perform an important role in the nation’s housing finance system – to provide liquidity, stability and affordability to the mortgage market. They provide liquidity (ready access to funds on reasonable terms) to the thousands of banks, savings and loans, and mortgage companies that make loans to finance housing.

Fannie Mae and Freddie Mac buy mortgages from lenders and either hold these mortgages in their portfolios or package the loans into mortgage-backed securities (MBS) that may be sold. Lenders use the cash raised by selling mortgages to the Enterprises to engage in further lending. The Enterprises’ purchases help ensure that individuals and families that buy homes and investors that purchase apartment buildings and other multifamily dwellings have a continuous, stable supply of mortgage money.

By packaging mortgages into MBS and guaranteeing the timely payment of principal and interest on the underlying mortgages, Fannie Mae and Freddie Mac attract to the secondary mortgage market investors who might not otherwise invest in mortgages, thereby expanding the pool of funds available for housing. That makes the secondary mortgage market more liquid and helps lower the interest rates paid by homeowners and other mortgage borrowers.

Fannie Mae and Freddie Mac also can help stabilize mortgage markets and protect housing during extraordinary periods when stress or turmoil in the broader financial system threaten the economy. The Enterprises’ support for mortgage lending that finances affordable housing reduces the cost of such borrowing.

Great they are stabilizing the market. How are they stabilizing the market? They are listening to Biden. They are not foreclosing on properties... for now. Some banks are starting to foreclose but it is a VERY gray area. It's happening on a small scale. Anyway... for the most part this means they are not holding "foreclosure auctions" in front of the property and actually buying back the property for their "principle". I could do a whole dissertation on auctions but it's not important. What is important is that "forbearance" is basically just pushing the payments off. They don't go away. Whe

... keep reading on reddit ➑

πŸ‘︎ 7
πŸ“°︎ r/smallstreetbets
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πŸ‘€︎ u/I_had_no_choice
πŸ“…︎ Feb 24 2021
🚨︎ report
Mortgage offer too good to be true?

Inquired with 3 different lenders on a VA loan. 2 national lenders specializing in VA loans (1 sells their loans, the other holds onto it), and a local correspondent lender.

Local correspondent offered a rate that surprised me as being amazing. 2.25% par value, and they pay the appraisal fee. Only fee they charge on their end is $899 "underwriting fee"

Other lender 1 offered 3.65% no fees, but I pay appraisal.

Other lender 2 offered 2.25% but with 0.875 point buy, and $1045 straight origination fee, and doesn't pay appraisal.

Obviously, the local lender is way out ahead.

My question basically is: What am I missing? I don't see any hidden fees. I'm aware they'll sell the mortgage, but other than that, it's an amazing rate and minimal closing costs on that front.

Edit: Thank you all for your responses. You've all offered phenomenal insight and key things for me to keep an eye on throughout the closing process. Thank you!

πŸ‘︎ 80
πŸ“°︎ r/homeowners
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πŸ‘€︎ u/HalfuChino
πŸ“…︎ Jul 18 2020
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Automation for email and text?

Hi guys, I work for a small correspondent lender and we don't have any sort of automated software for follow ups. I was wondering if anyone here has suggestions for affordable software that will effectively automate my follow up emails and texts. I'd like something where I can create a template that will auto-fill with the lead name in the subject and intro. Idk if anything like this really exists for individual use though

πŸ‘︎ 5
πŸ“°︎ r/loanoriginators
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πŸ‘€︎ u/Reggimoral
πŸ“…︎ Nov 16 2020
🚨︎ report
5/15 NRZ 4,5 & 6P

Book value has been slaughtered due to market volatility and movement. Delinquincies and escrow advances are going to crush their cash flow. Prepayment rates will be through the roof as borrowers refinance. On top of that, the Non-QM segment of their business which was projected to do 30%+ growth will instead do -99% growth as warehouse lenders have made it extremely capital intensive for mortgage lenders to originate these loans. Not to mention their pricing versus aggregators sucks, they are not competitive at all in the bidding wars for correspondent lender business.

I bought this stock in large quantities back in 2015 and made a killing on it. I’m also friendly with several people that work for the company so it sucks ass when I say I’m buying a crap ton of puts.

πŸ‘︎ 18
πŸ“°︎ r/wallstreetbets
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πŸ‘€︎ u/jpoms13
πŸ“…︎ Mar 30 2020
🚨︎ report
XALL This is HUGE News .05 Next Week

As part of this acquisition, Xalles is acquiring a company in LYC Mortgage with an experienced management team, audited financial statements, the liquidity and net worth in excess of $1,000,000 necessary for delegated lender operations.Β  LYC Mortgage has built the infrastructure to operate as a large company, and given its Direct Lender status on Conforming, FHA and USDA mortgage products, the company can underwrite, close and fund those loans independently. As a Direct Lender, LYC Mortgage earns larger profit margins on mortgage products than the brokers or correspondent lenders will be acquiring.

https://finance.yahoo.com/news/xalles-holdings-acquire-lyc-mortgage-214644836.html

πŸ‘︎ 24
πŸ“°︎ r/pennystocks
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πŸ‘€︎ u/miamidd12
πŸ“…︎ Jul 12 2019
🚨︎ report
How much correspondence to expect from agent/attorney/lender in process?

Hi, we are in contract to purchase our first home. We found the house via an open house and our agent (who we never met in person) put in our offer & escalated bids til we were accepted. She put us in touch with a lawyer she recommended. We were in touch with the lender. Then, just crickets from everyone. Well, occasionally the lender pops up and asks for some documents. But our agent doesn’t respond to our questions or she defers us to the lawyer. The lawyer just seems like he’ll do whatever we want him to do, without offering any guidance. We keep telling them we have no clue what’s going on, but they’re like whatever.

example: we got the inspection report back and sent it to the agent and lawyer on 2/9. This week, the lawyer wrote us and asked what we want to raise from the inspection report. I called my agent and she said she hadn’t read the report but the lawyer is excellent at this stuff so ask him. We wrote a list and asked for his advice, and he just forwarded it to the sellers lawyer. Still haven’t heard back.

Apparently the appraisal has been scheduled for next week but no one told me that, despite me following up with the lender. It’s just scheduled in our β€œdeal room.”

I feel like everything is happening to us rather than with us/for us and it’s disarming. Am I expecting too much?

πŸ‘︎ 7
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πŸ‘€︎ u/Brightlight0726
πŸ“…︎ Feb 18 2021
🚨︎ report
Anybody use or have experience with Chinese-American Brokerages?

In my area (Eastern Massachusetts) there are several brokerages that seem to be primarily aimed at the Chinese demographic. If you check LinkedIn they are staffed almost exclusively with Chinese LOs, however they have worked with both my Chinese and non-Chinese colleagues (with some language barrier issues). From what they've told me they had pretty solid rates and even provided rebates to cover fees and an attorney. Application and paperwork was handled digitally and they provided and attorney. Advertising appears to be primarily by word-of-mouth and they generally have 10 or fewer employees.

Here is one example

Are they legit? How are they able to provide competitive rates at no cost (points or otherwise) and in some cases even give borrowers rebates? Are they correspondent lenders?

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πŸ“°︎ r/Mortgages
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πŸ‘€︎ u/horsif
πŸ“…︎ Dec 04 2018
🚨︎ report
[California] First time buyer here: Are the terms of my loan documents negotiable (deed of trust, promissory note)?

Lender is dragging their feet in approving my loan and circulating draft loan documents prior to close, so I'm trying to budget my time. Once circulated, should I plan to carefully read the drafts and push back here and there (e.g. on default penalties or notice windows), or is that a fool's mission? I suspect many of the terms are locked in by law, so am wondering if I should bother or simply sign on the line which is dotted.

Seems like the biggest ticket item to push back on would be the acceleration clause, assuming the deed of trust includes one. FWIW, lender is a mid-size correspondent lender, backed by Chase.

Also -- I'm all ears for any other "gotcha" closing day stuff to be on alert for. Thank you!!

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πŸ“°︎ r/RealEstate
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πŸ‘€︎ u/cw-
πŸ“…︎ Jun 16 2015
🚨︎ report
Guidance on mortgage rates in NC for first time buyer

I'm looking to purchase my first home (primary residence) and am actively viewing houses in NC in search of the right one. I'm ready to buy as soon as I find one. Because this is my first buying experience I'd appreciate feedback on how I've been working the finance side.

I'm looking at homes selling for ~300K. I have a family and hope to stay in this home for ~8+ years, so I have only been considering a 30 year conventional loan. My gross income is 120k/yr with long-term history at this income level, all three credit scores >780. I will put 20% down and will have cash left after closing equivalent to a couple years of mortgage payments. My only outstanding debt is a small (<$20k) auto loan.

I started with a list of possible lenders (none were brokers), called each of them to ask some questions, and eliminated the less helpful and overly pushy ones. That left me with a short-list of three: one is a regional bank, another is a local correspondent lender, and the third is QL. I approved hard credit pulls from these three in mid-December to get pre-approval. Their par rate quotes were all different and in the range of 4.5% to 4.75%. I asked to have everything quoted as close to par as possible to get a better comparative picture.

I hope to be viewed as a top-tier applicant and of course I'd like to leverage competition among lenders to squeeze the spread yield. Am I going about my lender search in the "right" way? Do these rates seem competitive for my borrower profile? Would it be worth the extra effort for me to include a mortgage broker in my search at this stage?

None of the lenders I spoke with charge a points-based origination fee and they all gloat about that, but they all charge a flat fee called a commitment fee. From my perspective, it seems the same as an origination fee except on a non-percentage basis. This fee varies by lender from $700 to $1200 and does not include appraisal etc. Is this the common approach these days?

Sorry for the long-winded post, but this is a major decision for me and I've been learning as I go. Any feedback or advice from the expert community would be greatly appreciated!

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πŸ“°︎ r/RealEstate
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πŸ‘€︎ u/FirstTimeBuyerNC
πŸ“…︎ Jan 13 2014
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Lender has requested Competitor Correspondence

We have decided to go with a lender after negotiating down the rate. He has asked for a copy of our correspondence with the other lender we were talking to, and who he matched rates with. He said it's for legal purposes to have proof for why they're lowering their rate _so much_. I forget what law/regulation he mentioned.

Is it legal to share correspondence that way? Do I have to confirm with the original lender to share their email? They had no disclaimer legalese in their emails.

πŸ‘︎ 3
πŸ“°︎ r/RealEstate
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πŸ‘€︎ u/junomeeks
πŸ“…︎ Jun 24 2020
🚨︎ report
FINRA data now shows over 67 million GME short volume over the past 3 days. Shorts represented 57% of all volume for the past 5 days straight! πŸ’ŽπŸ™ŒπŸ’ŽπŸš€πŸš€πŸš€

https://preview.redd.it/xya25adl12k61.png?width=2801&format=png&auto=webp&s=cd38d15d50baf3f67144c20916bbffc469632009

Hello again my fellow apes🦍!

BOILERPLATE: I still know nothing, I can't do math good. PLEASE don't listen to me! Obligatory πŸš€

WARNING: BY THE END OF THIS POST YOU MAY EXPERIENCE SYMPTOMS SUCH AS EUPHORIA OR PREMATURE πŸš€ SYNDROME. THESE ARE SIDE EFFECTS OF 'CONFIRMATION BIAS'. TALK TO YOUR DOCTOR TO LEARN MORE.

Yesterday I put together this analysis and everyone really liked it, so I have updated to include today’s data and some new data sources (availability and fees for shorts). Enjoy this light weekend reading πŸ˜‰

------------

Part 1: FINRA

I put together the FINRA daily short data for the last week and you can see an increase in short volume over the last 6 days! http://regsho.FINRA.org/regsho-Index.html (@CultureCrypto sent me this link that had the data in a much more friendly fashion https://www.FINRA.org/FINRA-data/short-sale-volume-daily)

(Note: if you want to find this raw data, use the link above and you will need to go into each day's file (updated at 6pm daily) and search for GME, then copy the raw numbers. the top of the document will show you what each number corresponds to - this is not a user-friendly document)

There was an additional 22 million in short volume today, on top of the 33m yesterday and 12m Wednesday. While this is a decrease in absolute shorts from yesterday, volume also decreased proportionally so it is still identical short volume to total volume ratio.

The short volume as % of total daily volume, as published by FINRA, is at 57% which is the same levels that we saw on Jan 27-29 when there was a concerted effort to bring down the share price.

CAVEATS:

  • This data does not include NYSE, which is why total volume for today is 38M but actual total vol is 90 million. Thanks to u/tri_fire_engineer for bringing this up. He has posted the full data for yesterday down in the comments and it actually showed that **once NYSE data was included, Short Volume % went up from 56.8% to 57.6%. I think this shows that while the FINRA data is just a sample, its large enough to be considered representative of the full ma
... keep reading on reddit ➑

πŸ‘︎ 9k
πŸ“°︎ r/wallstreetbets
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πŸ‘€︎ u/Cuttingwater_
πŸ“…︎ Feb 27 2021
🚨︎ report
I Went To War: Parts 1-7

Below are Chapters 1-7 all combined

MORE Photographs HERE

Chapter 1: (Original Post)

I decided to see what war was truly like. At 21 I made a fake press pass for a fake newspaper and pretended to be a real journalist. I was too dumb to understand the risks and too convincing to be denied.

A fake press pass, for a fake newspaper, so I could pretended to be a real journalist

Chapter 2:

What Happened Next: Well...It’s a crazy story, but the cliff note version is that the French Foreign Legion was in control of the airport outside of Sarajevo and they told me if I didn’t find a way into the city by dark they would put me back on an aircraft back to Croatia.

I raced to the front of the airport bummed a ride in a Yugo (car) that was there picking up some CNN producer that flew in with me, but wanted absolutely nothing to do with me. We drove as fast as that little red car could go through the infamous Sniper Alley and I eventually wound up at the Holiday Inn in DT Sarajevo. Half the building was completely blown to shit but the backside wasn’t turned into rubble and glass so they were renting rooms out for $100 cash a night. It’s where real journalists were staying.

Chapter 3:

So having never been to a war I had no idea it’s a β€œcash” only environment. I had about $700 and $500 of that was in Traveler Checks (Google it if you have no idea what I just said). Shit like banks aren’t open in wars so I had $200 cash at a hotel that cost $100 a night...things didn’t feel very promising. So I decided I would got browse around the hotel to see if I could figure out a plan. No one was hanging out on the blown-up side of the Holiday Inn so I figured I’d scout out a room with perhaps less glass and rubble to sneak into later and I’d make that work as long as I could.

It didn’t dawn on me that the reason that side of the building was blown to shit because it was the side of the building that faced towards the Serb neighborhood and Serb snipers and fighters were shooting it up on a consistent basis. But it didn’t take long before I figure that strutting around the rooms here wasn’t a good idea.

While I was scared out of my mind that I had actually made it, I was also as excited as hell that I did. I knew my buddies back home would never believe me so I started looking for s

... keep reading on reddit ➑

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πŸ“°︎ r/u_TJH48932
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πŸ‘€︎ u/TJH48932
πŸ“…︎ Feb 26 2021
🚨︎ report
Nikkei: China treads lightly on Myanmar coup with billions at stake

The info below is provided to Myanmar people so that they know what the analysts are saying about the Myanmar coup and how it will be resolved. Please do not down vote this post.

Beijing needs stability to complete strategic Belt and Road projects

https://preview.redd.it/3izqf16g6bl61.png?width=600&format=png&auto=webp&s=481737d1a9a47378d0468ac3bc16bc4ce7c36236

MARWAAN MACAN-MARKAR, Asia regional correspondent

March 5, 2021 17:32 JST

BANGKOK -- China has maintained a guarded approach in its response to last month's coup in Myanmar, with many in Southeast Asian diplomatic circles saying Beijing sees the unrest as a threat to the massive investment it poured into the country over the decadelong transition to democracy.

Such cautious diplomatic steps arise from China "not being happy with the coup," a Southeast Asian diplomatic source told Nikkei Asia. "The signs emerged after the military took over, because it has high economic stakes in Myanmar and so much to lose."

China analysts based in Hong Kong agreed that Beijing was likely not pleased with the turmoil spreading across the country after the Feb. 1 coup. China has multibillion-dollar economic and strategic investments in the pipeline that were blessed by the leaders of Aung San Suu Kyi's National League for Democracy, which controlled the civilian-led government that the military overthrew.

The last thing China wants to see "is dramatic regime change in Myanmar that will bring instability to its southern neighbor," said Enze Han, a political scientist at the University of Hong Kong.

He said the Chinese government and Chinese companies will "lie low" and pursue a wait-and-see approach with the unrest in Myanmar, where the United Nations estimates that over 50 people have been killed by security forces as the junta cracks down against massive, anti-coup civil disobedience campaigns.

There is a "tremendous amount of anxiety in Beijing about the huge stakes the country is facing in Myanmar," added Han, who is the author of "Asymmetrical Neighbors: Borderland State-building between China and Southeast Asia." China's relations with "the NLD government [were] very good."

China's strong relationship with the NLD, led by Myanmar's de facto leader Suu Kyi, since 2016, was affirmed two weeks before the coup. Analysts in Yangon, Myanmar's largest city, saw Chinese Foreign Minister Wang Yi's high-profile visit to the country in mid-January as a sign of Beijing's deepening ties with t

... keep reading on reddit ➑

πŸ‘︎ 30
πŸ“°︎ r/myanmar
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πŸ“…︎ Mar 06 2021
🚨︎ report
AMC in-depth DD. NOT AN "I FEEL LIKE IT'S GOING TO GO UP" post.

THIS IS NOT A FUCKING SHORT SQUEEZE/GAMMA SQUEEZE POST FOR FUCKS SAKE I UNDERSTAND IT'S MORE THAN A POSSIBILITY BUT JESUS FUCK NO

This information was made available to me by a personal friend who has a deep background in finance as well as a student at Stony Brook in NY for 3 years.

Disclaimer: I'm personally bullish on the stock just like everyone else is on this stock but I simply don't let things like "I have a feeling it's going up" or "stonks only go up" be a part of my mantra or analysis although most of you retards do.

The information I have available is from a 65 page financial and analytical report in regard to AMC that my friend made available to me that's only made available to students at Stony Brook and NYU who have access to the financial report database that accredited investors and business finance analysts regularly write in that rely heavily on the fundamental business analysis(dudes look to see if the company is good and give their opinion)

Bullish Signals

Figure 1: Institutional Ownership up 65% Institutions held 40.9 million shares at the end of quarter ended Dec 31. Institutional holdings in AMC Entertainment increased by 16,151,852 shares (65.3%) at the end of quarter ended Dec 31. Institutional ownership is now 71.0% of the issued capital. (More institutional investors who are smarter than the average fuck face on WSB see fundamental/intrinsic value in a company that otherwise would go unnoticed since AMC is widely regarded as a dying company)

Figure 2: AMC Entertainment is ranked number 9 out of 12 listed commercial services companies in the United States with a market capitalization of $523.1 million. In the commercial services companies it has the 3rd highest total assets and 2nd highest revenues.(This information directly conflicts the bearish sentiment on most bearish analysis that AMC as far as assets and revenues doesn't do enough to stay alive from year to year)

Figure 3: Quarterly Report (Q3/2020): November 04, 2020 Quarterly Report Analysis Q3 2020: AMC Entertainment reports 532% sequential rise in Quarterly Revenue AMC Entertainment (NYSE:AMC), announced total revenue of $120m for the quarter-ended 30 September 2020 [Q3/2020], up 532.3% from the previous quarter [Q2/2020] and down 90.9% from the year-earlier period [Q3/2019]. Quarterly Report (Q3 2020) Compared with the Previous Corresponding Period [PCP; Q3/2019], year-over-year [y.o.y.] Revenue was down 90.9%. Read more in SECTION on Fina

... keep reading on reddit ➑

πŸ‘︎ 139
πŸ“°︎ r/wallstreetbets
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πŸ‘€︎ u/DaveyJones-lul
πŸ“…︎ Mar 01 2021
🚨︎ report
Replay Acquisition (RPLA) - Target Finance of America - Near NAV, massive growth even during COVID

I came across RPLA last week and have been looking into it more and more. I was surprised that a SPAC with such a strong target was sitting so close to NAV. At the time of writing it's below 10.50. The target for the merger is H2.

The mortgage industry is hot right now, showing massive growth for both new houses and refinancing, which drew me to do more research on this SPAC.

Announcement of target
https://www.businesswire.com/news/home/20201013005587/en/Finance-of-America-Companies-Set-to-Go-Public-Through-a-Business-Combination-With-Replay-Acquisition-Corp.

Overview of Finance of America deal

  • Strong top-line growth and superior operating leverage, with a 41% revenue CAGR from 2018 to 2020E, a 188% GAAP pre-tax income CAGR, and a 182% CAGR for Adjusted EBITDA
  • Brian Libman, Founder and Chairman of Finance of America, Patricia Cook, Chief Executive Officer, and Graham Fleming, President, will continue to lead the company
  • The implied equity value of the combined company at closing is approximately $1.9 billion
  • Top-tier institutional investors have committed to a $250 million PIPE at price per share of $10.00
  • Management, founder, and Blackstone to remain closely aligned with shareholders at transaction close
  • The transaction is expected to close in the first half of 2021

Investor Presentation
https://www.financeofamerica.com/wp-content/uploads/Finance-of-America-Companies-Investor-Presentation-2020-10-13.pdf

Record 3rd Quarter

>Finance of America, which operates through retail, wholesale and correspondent channels, reported $242 million in income during the third quarter, a 66% increase from the second quarter. The lender and servicer has earned $345 million in the first three quarters of 2020, up 466% from $61 million during the same period last year.

https://www.housingwire.com/articles/finance-of-america-reports-record-third-quarter-as-it-gears-up-for-ipo/

Interview with CEO on the Morgage Market

[https://www.aol.com/news/finance-america-doubling-down-during-204748925.html](https://www.aol.com/news/finance-america

... keep reading on reddit ➑

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πŸ“°︎ r/SPACs
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πŸ“…︎ Dec 30 2020
🚨︎ report
Default Risk with Celsius

In my experience there is no such thing as a free lunch. With alpha comes corresponding beta. ROIs across different asset classes (from T-notes to early stage VC) converge to levels that are on par with their associated level of risk. As such I am pretty skeptical of Celsius being able to provide a 21.49% APY without incurring a commensurate amount of risk. In fact, the alternative would be they found a way to generate massive alpha without generating any additional risk, which would defy basic economic theory, as presumably capital getting less alpha at commensurate risk levels (people buying grade A bonds) would rush into Celsius driving down the rates.

So my question is, and it seems fairly clearly laid out from the Celsius T&Cs that there is default risk on the part of the borrowers, what sort of risk analysis has been done to estimate the probability of the borrowers defaulting (past the point of their collateral being covered) and incurring losses to the lenders? A double digit APR would suggest there is pretty significant default risk at play here. I would consider this kind of due diligence pretty much mandatory for a sophisticated investor to want to pile in. I'm looking for something on par with what a credit agency would do to assess the credit worthiness of a borrower - something mathematically rigorous, ideally put out by an external source.

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πŸ“°︎ r/CelsiusNetwork
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πŸ‘€︎ u/steven4294
πŸ“…︎ Feb 03 2021
🚨︎ report
February 2nd | Templar Trading Daily Watchlist

https://preview.redd.it/tgams3p5f2f61.png?width=1500&format=png&auto=webp&s=1b35fb9352de94170462dd2c59e31a756d9cab93

$UWMC:

UWM Holdings Corporation Announces 2020 Q4 Earnings Conference Call Details PONTIAC, Mich. --(BUSINESS WIRE)-- January 26, 2021 --

UWM Holdings Corporation (NYSE:UWMC), the publicly traded indirect parent of United Wholesale Mortgage (UWM), #1 wholesale and purchase mortgage lender in the U.S. , will announce its fourth quarter 2020 financial results after market close on Wednesday, February 3, 2021 .

Headquartered in Pontiac, Michigan , UWM Holdings Corporation (UWM) is the publicly traded indirect parent of United Wholesale Mortgage. UWM is the #1 wholesale lender in the nation six years in a row, providing state-of-the-art technology and unrivaled client service. UWM is known for its highly efficient, accurate and expeditious lending support, UWM underwrites and provides closing documentation for residential mortgage loans originated by independent mortgage brokers, correspondents, small banks and local credit unions.

I would wait for earnings to get in on this one, but the chart looks primed. Bullish Pennant on the 65 minute chart, with great consolidation in the low $10's with a volume shelf to show support. Yesterday we broke above resistance on above average buying vol. and could look to make the move to $11. With the housing market being so hot w/ interest rates so low, I would have to assume they report good earnings, but will wait to see instead of taking my chances on a gamble.

https://preview.redd.it/nkmecrn8f2f61.png?width=2252&format=png&auto=webp&s=e73ccb074f20baeca21edd38d70176efea3bfc70

$CRBP:

Corbus Pharmaceuticals (NASDAQ:CRBP) shares moved upwards by 16.59% to $2.6 during Monday's after-market session. This security traded at a volume of 6.9 million shares come close, making up 96.34% of its average volume over the last 100 days. The company's market cap stands at $218.4 million.

Corbus had a huge bullish move in the afterhours session yesterday, jumping from $1.91 to $3.09 off what looks to be no news whatsoever. We are holding some of these gains in the pre-market, but I definitely feel we have some room to move given that gap zone back in September. Looking to add on dips.

https://preview.redd.it/8p3hv1naf2f61.png?width=2252&format=png&auto=webp&s=100061e248405729c222dc6a54e9581aa51d4158

$OPTT:

Ocean Power Technologies (NASDAQ:OPTT) stock

... keep reading on reddit ➑

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πŸ“°︎ r/u_itsgoggles
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πŸ‘€︎ u/itsgoggles
πŸ“…︎ Feb 02 2021
🚨︎ report
Short More, or Short Squeeze? And DD on Triterras ($TRIT)

Preamble: I have no positions in Triterras ($TRIT). Two organized shorts, Bear Cave and Phase2Partners, have shorted the stock since mid-December. They cited "related party transactions" as a main concern, but I was the first person to raise this flag.

INTRODUCTION

On social media, this disruptor company has been called the Robinhood of fintech. Its customer base is the little guy: small and medium enterprises the world over. How?

> docproc5150 wrote:

> Does any one know what a fax machine is? That's basically the level of existing technology currently being used for smaller companies trying to export goods overseas. [TRIT] is trying to bring the modernization reserved currently for only the big players, to the small and micro companies trying to move goods overseas.

> ami-no-timmortal wrote:

> It’s more like this: You want to buy 10 tones of whatever commodity from Turkey and have it delivered to the port in the US. You go and use Kratos to do that on one platform where (I assume) finding all the relevant parties is made as easy and secure as possible.

> Otherwise you’d have to contact multiple parties and in the end they wouldn’t bother doing business with you, cause you’re too small of a fish.

Thanks to its fintech, the company enables these same businesses to obtain trade finance and engage in global trade, treading where at least 60% of banks and trading companies won’t in a $40 trillion industry. This first mover aims to address the $1.5 trillion gap in SME trade finance. This total addressable market is only expected to grow to $2.5 trillion by 2025.

Better yet, this industry disruptor has not only survived the COVID-19 pandemic, but it has thrived. [Not least because it is based in Singapore, a solid financial hub with robust disease control measures.]

TRADE FINANCE INDUSTRY

Trade finance was described in The Economist as "the world's most complicated paper chase":

> Take operational troubles first. Trade finance is notoriously paper-based. Processing credit requires involved parties, from financiers and carriers to warehouse managers and customs officers, to exchange an average of 36 documents and 240 copies. But lockdowns trapped bits of paper in shut-down offices. Printing became a palaver. When couriers eventually g

... keep reading on reddit ➑

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πŸ“°︎ r/stocks
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πŸ‘€︎ u/Torlek1
πŸ“…︎ Jan 24 2021
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User's Manual to how #ShortMafia operates (Part I)

The following lawsuit is the absolute best source I've seen for understanding how the #ShortMafia operates. In particular, how they operate and collude against a small biotech company using social media and manipulative trading tactics:

Full Lawsuit
https://docplayer.net/194431520-Filed-new-yor...-2020.html

The shorts engage in a multi-front war when they intend to destroy a company, hence the length of the lawsuit narrative. I have attempted to edit the document to make it more readable and to fit into the character limit on Reddit:

CHARGE:

1 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK X ABEONA THERAPEUTICS INC., vs. Plaintiff, MATT GRAVITT, JOSEPH J. SPIEGEL, RICHARD UNDERBRINK, MAKO RESEARCH, and JOHN DOE AND JANE DOE #1 through #20, the last twenty (20) names being fictitious and unknown to the plaintiff, the persons or parties intended being the additional traders and/or additional author(s) behind Mako Research as described in the Complaint…

INTRODUCTION:

Plaintiff Abeona Therapeutics Inc. (Abeona) is an early-stage biopharmaceutical company focused on finding a cure for rare and horrific genetic skin disorders that primarily afflict children. Abeona is on the cusp of a breakthrough, having just received clearance from the FDA to proceed with a Phase 3 trial for one of its treatments. …

Defendants have been engaging in their fraudulent scheme to profit from illegal and manipulative short selling in Abeona’s stock. They do so by coordinating the publication of false and misleading hit pieces, masquerading as stock research articles, with manipulative trading and quoting activity in Abeona’s stock.

In particular, and as explained in much greater detail below, Defendants conspired to drive down the price of stock by timing the publication of false and misleading hit pieces with illicit, manipulative trading tactics and quoting activity, including naked short sales. Abeona takes Defendants illegal profit-scheme seriously, and intends to counter it on all fronts…

Short sellers like Defendants are stock traders who sell stock that they do not own to make a profit when the price of a stock goes down. In brief, a short seller locates stock to borrow, sells it for the current market price, and

... keep reading on reddit ➑

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πŸ“°︎ r/CYDY
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πŸ‘€︎ u/Doctor_Zaius_
πŸ“…︎ Feb 17 2021
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Close in 17 days, Haven’t heard from the loan officer in about 32, assistant hardly communicates, what do I do?

*update

LO dropped the ball, plain and simple, said I wasn’t actually qualified and had basically put it all off til last minute

Funny because after this I went to a local lender 11 days before close and wasn’t a problem. STILL got a 2.25%


Should I be concerned? The only correspondence I’ve had is with one of his assistants Thursday this week who said the appraisal had been ordered and came back above purchase price. Problem is, I sent the LO an email 9 days ago and have yet to get a response. I called the branch who said he was β€œsick,” so I called back today and they said oh yeah he’s been in this week. Okay so when am I going to find out if the loan was approved or not?

I emailed his assistants last Monday and after two days of no reply, called them Wednesday and they acted totally surprised By the call and could only say β€œwell we know you applied.” No, really.

That was around Jan 3rd. 40+ days have passed. Still don’t have any kind of formal loan approval.

Is this behavior normal for a US bank in Colorado?

I have $8k cash in the deal as EM. Single fam, new build. VA loan no funding fee.

πŸ‘︎ 9
πŸ“°︎ r/RealEstate
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πŸ‘€︎ u/ayyeeblinkin
πŸ“…︎ Feb 13 2021
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Lendio 2nd Draw Timeline - Funded Today

Today, 2-16 I got Funded from Ready Capital who was my assigned Lender with Lendio and figured I'd give all those waiting a timeline of my events. My Funding Manager contact changed FOUR times during the entire process so reaching the same person on my application was quite difficult. Also I have already have been approved for forgiveness on my First Draw PPP before I applied for Second Draw. Loan size over $150K both times FWIW. I did apply to PayPal, Zions Bank & Cross River as well and received declines.

Applied to Lendio on 1/20

Text Message & Email about Missing Document Request 1/21

Rest Assured ("SBA System Sucks") Email 1/22

Second Missing Documentation Email 1/24

Lendio Approval and 'Sent to Lender' Portal Update 2/1

CAWEB Update with New PPS Loan Number 2/1

Lendio Portal Updates with Ready Capital Selected Lender & Loan Amount 2/4

Utility Bill / Valid Business License Request by Email 2/5

Received Closing DocuSign with SBA Number & Loan Amount (needed to upload voided check) 2/9

Bank Account shows Loan credit pending from Ready Capital 2/16

I hope all those that are still waiting with no correspondence get funded and can stay afloat. My suggestion is to apply multiple places as some Lenders seem to be handling the SBA submissions vastly different. I was worried hearing some stories about duplicate approvals but my other 3 applications just got declined.

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πŸ“°︎ r/PPPLoans
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πŸ‘€︎ u/RyPA
πŸ“…︎ Feb 16 2021
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Aspire Resources--missing payments? incorrect payment status? general issues

Has anyone encountered problems with Aspire Resources and the loan data that was transferred to fed loan? According to the payment tracker for PSLF this lender is alleging that I did not have a bill for almost 2.5 years. I only have proof from bank statements. I contacted fed loan and they are going to research "old correspondence" with this lender. This doesn't sound promising to me....I think we are all too familiar with the long arduous uphill journey trying to finalize PSLF approval.

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πŸ“°︎ r/PSLF
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πŸ‘€︎ u/IMARUNNUR9
πŸ“…︎ Mar 01 2021
🚨︎ report
SQBG - Equity stub with near term catalyst

Wanted to share some basic info on Sequential Brands Group. Thoughts/questions are welcome.

SQBG - Sequential Brands Group

Current Market Cap: 27M

Share Price: 16.31

***Note: this is a very leveraged company in an out of favor industry***

Introduction

Sequential Brands Group is a brand management company that licenses several apparel and shoe brands to wholesalers and some d2c sellers. These brands are mostly sold at major big box brick and mortar retailers and Amazon. Some brands include: Jessica Simpson, AND1, AVIA, Ellen Tracy and GAIAM. Large shareholders include Chairman William Sweedler and Martha Stewart. The company is heavily leveraged (450M) and has seen its share price suffer over the last several years.

Why spend time on this equity stub?

Near term catalyst. The company has aggressively reduced costs and has packaged itself for sale.

Recent history

In mid 2019 SQBG sold its home division, which included the Martha Stewart Living and Emiril Legassi brands. It later announced a focus on cost reductions. This consisted primarily of examining lease expenses and headcount reduction. Prior to the sale of the home division, operating expenses were ~70M and the stated long term goal was 30M. In later 2019, an announcement stating exploration of strategic alternatives was made. This was in response to receiving unsolicited interest in some of their brands. Ultimately, no sale transpired and the share price expectedly suffered greatly.

2020 was very difficult for anyone relying on brick and mortar sales. A few highlights from SQBG:

3/20 - Company started working with a lender (Wilmington Trust) due to inability to comply with certain covenants. These were waived until the end of the year.

3/20 - Took asset impairment charge on brand value
11/20 - CEO and CFO left the company. Chairman William Sweedler (13% shareholder) is filling a β€œPrinciple Executive Officer” role and an interim CFO has joined. She has experience in M&A and is hired temporarily. CEO position will not be filled.

11/20 - Bought out the lease for their expensive NYC corporate main office. This was the vast majority of their lease obligations.

12/20 - Issued press release stating relaunch of strategic alternative search in order to β€œFully maximize shareholder value”.

12/20 - Lender waived covenants until Feb 22, 2021.

This is not a fire sale

Management has successfully cut expenses and the company is now cash flow positive. The ex

... keep reading on reddit ➑

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πŸ“°︎ r/SecurityAnalysis
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πŸ‘€︎ u/irad1111
πŸ“…︎ Feb 07 2021
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STAY THE TRADE....LOOK TO HISTORY TO SEE THE FUTURE

As we approach the end of the week I think we should take a moment to consider the bigger picture for silver and the precious metals complex in general. Many of us might be feeling a little but deflated because the silver price didn’t shoot to $35 in the first week of the battle. The mathematical sides of our brains get it but the emotional side may at times feel a bit let down. It’s important to act with conviction and and not change path unless a new set of facts or circumstances present themselves, which to date have not. With that in mind I wanted to present a few facts to keep in mind which will give you strength to stay the trade.

While much of the hype around silver this week has been driven by the idea of short squeezing the big paper pushers the reality is there is no need to do this to make an awful lot of money. Our persistent purchasing of silver is akin to flicking a match in to a tinder box. The tinder box has been full of dry leaves and a few cans of gasoline for a long time; we’re just providing the spark. The current economic situation across most of the world is more supportive of an extreme bull market in precious metals than it ever has been. To understand just how primed the world if for the potentially the greatest precious metals bull run in history we can look back on previous cyclical bull markets and consider the similarities today.

1970 to 1980 Precious Metals Bull Market

Between 1970 and January 1980 the price of gold rose 24 times from a low of $35 to a high of $850. Likewise silver ran up 38 times from $1.29 to $50. (It’s important to note that it didn’t go up in a straight line; at times it dropped by 50%...gold at one stage fell from $200 to $100 before pressing on to $850…..STAY THE TRADE).

The main drivers of the 1970’s bull run included Richard Nixon β€œclosing the gold window” and decoupling the dollar from a fixed gold price of $US35/oz, real interest rates reaching a low of negative 4.9% , geopolitical uncertainty, high inflation and oil embargo. All of the same conditions exist today in some form or another. It’s a case of same dog, different leg.

Until August 1971 foreign nations could convert there $USD holding to gold on request. As they saw the U.S. rapidly increasing spending they did just that which weakened the $USD. When the gold window was just the USD rapidly depreciated against the currencies of its trading partners. Over the course of the 1970’s the USD lost a third of its purchasing

... keep reading on reddit ➑

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πŸ“°︎ r/Wallstreetsilver
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πŸ‘€︎ u/Careful_Ad_4598
πŸ“…︎ Feb 05 2021
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What I have learned for PPP 2.0 - Advice based on what I went through.

I did multiple lenders. In hindsight it was a nightmare but only after the dust settled, I could realize who I would have avoided. I'm still waiting on SBA approval but my application is in and I'll share what I learned so far. At first I wasn't directly notified by who was first to submit so figuring it out was a matter of contacting each lender...and during that process I saw how difficult it was to communicate with some of them.

COMMUNICATION

My advice is to stick with the lender that has the best accessibility (after talking to all of these lenders for the past week I learned who was easily accessible):

  1. local community bank is the best assuming they have someone that can take your call. The local bank gave me his cell phone number.
  2. The loan source. Zero way to call them. I would advise avoiding them and I'll explain why. They don't have any direct phone number to contact them (that should be the first red flag). They do have an online form for correspondence and a web chat. Response time is ok via form - 24-72 hours. The online chat window is an absolute joke. At first you are forced to talk to a bot. So at first glance you will ignore it. If you need to get questions answered, you will have to ask the bot a question and then sit and wait. Sometimes they have an option for live agent and sometimes they only let you leave a message. On Monday I waited 3 hrs to have someone respond. If you happen to not be at your computer, not sure what happens. I had a simple question they couldn't answer on the spot, they could not verify whether or not my application was ever submitted to SBA. So something I learned, just go with the banks with the best accessible representatives.
  3. Crossriver - their phone line was taken down so only way was through the online form. Response time take a day and only through online form/email. Again, I rather go with a lender that I could speak to.
  4. Chase - You can reach someone but takes 30min-1hr via call. To be honest, I don't mind that.. its better than having zero way to contact the lender by phone.
  5. Sunrise bank - pretty good email communication. Fast I was able to directly talk to a rep and also the rep provided a direct phone number. Nice people.

SPEED -

I applied the first available day to everyone except Crossriver on Tuesday 1/19

applied crossriver 1/21 on Thursday.

CHASE beat everyone to the punch. submitted to SBA some time before 1/28

Local bank was second. 1/28 but too late- got error mess

... keep reading on reddit ➑

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πŸ“°︎ r/EIDLPPP
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πŸ‘€︎ u/arominator
πŸ“…︎ Feb 02 2021
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Needing guidance on a home refinance with signed docs that even got all the way to the title co, that is now retracted. The co. never responded to me with details over 4 months...apparently the loan officer quit

So ive been dealing with a refinance of my home since early november. The guy sold me on a good rate but more so on the fact he would be there the whole way. Well after the first couple weeks uploading documents, and a lot of them multiple times, i finally completed all paperwork. It was going to be a 2.5% rate with about $2500 in writedowns for the discount plus closing. Well 1 month goes by and havent heard anything. I call the guy a few times before he responds, and just says they are still working on it. Website has ni update either. Another month goes by, now January, and it becomes increasingly difficult to get ahold of the loan officer by phone or email. Finally towards the end of jan he tells me my debt to income is now too high. I ask for details and he never provides them. Another couple weeks go by and now im blowing the guy up because rates are going up and i had other offers of the same thing (just had to show them this lenders offer) that are now vanishing. No return calls. No return emails. No out of offices. Nothing. So i leave a message on their website to have a new loan officer and have someone call me immediately. Nothing. A couple days later i call the support line and some guy says he would have someone call me within 24 hrs. Nothing. So about 2 weeks ago (last week of feb)i wrote them an awful review on the BBB website and guess what, someone finally calls. Apparently the guy resigned and they never bothered to get me a new officer, give me any update, or take care of me in a timely fashion. The new rep is a Nice woman but funny enough, they are now offering a 2.75% with 6600 in write down costs and another 8k for "prepaid items" not on the original offer. So nothing like the original, at all.
Is this something i can hold them legally liable for? Are they obliged to honor the original offer even considering they are now showing more income and total assest greater than what was on yhe original offer? Are they liable for any lost opportunities coming from competitors (i have correspondences from them when i first started shopping in Nov) that are no longer available due to the amount of time they took just to privide me an update? (So far 4+mos) thanks in advance.

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πŸ“°︎ r/legaladvice
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πŸ‘€︎ u/lilmateo919
πŸ“…︎ Mar 11 2021
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part 1 for those who access reddit via their phones and cant translate said articles.

This is all News sourced from chinese outlets. Consider it an alibi, it is a timestamped timeline of the companies movements, mergers and acquisitons etc.

Shenzhen Krypton Finance 2020-04-01 05:18:16

Xinerfu's control rights may change: consecutive years of losses and avalanche of market value

Shenzhen Krypton Finance was informed that on March 25, the listed company Xinerfu (code: XRF) announced that it had reached an investment and cooperation letter of intent with SOS Health Rescue Services Ltd ("SOS"). According to the letter of intent, SOS Health will acquire Xinerfu.

https://preview.redd.it/q2hc5t9z78k61.png?width=681&format=png&auto=webp&s=e71299e68027daf4554b63708f637fff645f73d4

Xinerfu's control may change hands

Once the merger is completed, SOS Health will take control of Xinerfu, and Xinerfu will enter the emerging field of consumer health services and health-related financial services in the future.

The letter of intent for investment and cooperation shows that the transaction has many conditions and there is no guarantee that the transaction will be completed on the terms and timetable shown. The goal of Sino-Fortune and SOS is to sign a preliminary agreement by the end of March 2020.

Public information shows that SOS Health Rescue Services Ltd. is one of the largest health rescue service providers in the world. It provides functions equivalent to a private 911 call service for emergencies. Through its cloud-based technology and a national call center, it works closely with hospitals, insurance companies, large companies, nursing homes, police and communities to provide health-related emergency transportation and on-demand rescue services.

Years of losses, market value avalanche

As of the close of trading on March 30, Eastern Time, Xinerfu’s stock price was US$1.155, a decrease of 8.33%, and the total market value was US$7.5953 million. Although the stock price was barely higher than US$1 to temporarily escape the delisting crisis, it was not the same as the beginning of its listing in the US in 2017. Compared with the total market value of 420 million US dollars, the market value of Xinerfu has almost evaporated.

The financial report for the first half of 2019 showed that Sinofoss had a net income of US$ 19.3 million, a decrease of 37% year-on-year, and a net loss of US$ 20.6 million; the third-quarter revenue was US$ 23.5 million and a net loss of US$ 22.8 million.

Xinerfu’s ultra-high default r

... keep reading on reddit ➑

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πŸ“°︎ r/SOSStock
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πŸ‘€︎ u/Nice-Pick8077
πŸ“…︎ Feb 28 2021
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Speckofthefuture: Flair Generator 2

https://www.reddit.com/r/somethingimade/comments/7vlag7/a_little_silly_but_a_friend_and_i_converted/

#Category 1 - first descriptor

temporarily embarrassed[100] high society[100] benevolent[100] junked-up[100] feeble-minded[100] short-sighted[100] manumitted[100] feckless[50] decorated[50] forthcoming[50] well-meaning[50] housebroken[50] radical[50] informal[50] namby-pamby[50] rat shit[50] unsightly[50] anachronistic[50] no-account[50] stupid and slippery[50] unfit for purpose[50] problematic[25] maladaptive[25] bulk-standard[25] take-no-shit[25] groovy[25] effortless[25] phlegmatic[15] well-behaved[15] uncivilised[15] spineless[15] motherfucking[15] part-time[15] world beating[15] deracinated[15] empty-handed[15] eyeliner-wearing[15] hunky-dory[15] fancy-shmancy[15] disaffected[15] green washing[15] dime a dozen[10] most wanted[10] oppressive[10] clinically insane[10] globular[10] bog-standard[10] bleak as all fuck[10] inanimate[10] bang out of order[10] spaced out[10] throwaway[10] groundbound[10] unforeseen[10] disorderly[10] fierce[10] finger-twiddling[10] larger-than-life[10] lowsome[10] dejected[10] down and out[10] impromptu[10] do-or-die[10] sweaty[10] psychedelic[10] anarchistic[10] hungry[10] spineless[10] conscientious[10] high-tempered[10] anti-couth[10] trendy[10] barefoot[10] ascended[10] fully-automated[10] snooty[10] lovecraftian[10] flustered[10] bitch-ass[10] transgressive[10] buccaneering[10] not necessarily likeable[10] empty[10] unseemly[10] born[10] emancipated[10] self-regarding[10] constipated[10] jerry-built[10] drunk[10] pleasure-centric[10] fresh off the boat[10] market-tested[5] world class[5] discordant[5] diverse[5] extravagant[5] high-functioning[5] sterile[5] sharp[5] vapid[5] uncut[5] self-inclined[5] parochial[5] artificial[5] stylistic[5] anti-social[5] foolhardy[5] normal-looking[5] would-be[5] devil-may-care[5] melodramatic[5] submissive[5] operant[5] modest[5] nosy[5] top notch[5] fidgety[5] bluffing[5] adroit[5] very iggy[5] decadent[5] corruptible[5] dull[5] work-shy[5] ignoble[5] maimed[5] juvenile[5] conventional[5] anxious[5] keen[5] flex[5] upside down[5] aggressive[5] obedient[5] smooth[5] zealous[5] ludicrous[5] uppity[5] loathsome[5] badly disguised[5] crossdressing[5] indoctrinated[5] prophesying[5] abstemious[5] marketing[5] fist clenched[5] fearsome[5] puritanical[5] true-blue[0] alive-blooded[10] light-hearted[5] fungible[5] vivid[5] straight white cis male[5] problematic[5] gratuitous[5] retrograde[5]

... keep reading on reddit ➑

πŸ‘︎ 2
πŸ“°︎ r/speckofthefuture
πŸ’¬︎
πŸ‘€︎ u/speckthefuture
πŸ“…︎ Dec 01 2020
🚨︎ report
Best way to take over parents mortgages/home for a better interest rate?

We already own our own home with a good mortgage and have committed to to helping out our parents, knowing full well that it's only disadvantageous to us and we are under no obligation.

Parents are not well off financially, in part due to cancer payments, and did a chapter 7 last year. They have two mortgages with high rates. They've helped us out with various things and we've committed to keeping them afloat. So we can consider both our and their finances together and maximize the combination and minimize fees / interest rate.

With the new lower rates that we could get on our own, they could actually make payments. So the idea would be for them to just pay for the new mortgage under our name.

Some numbers:

  • House (PA): ~$100k
  • First Mortgage: FHA $80k 7.25%
  • Second Mortgage: $10k 11%
  • Chapter 7 on 4/2/2020
  • We live nearby in MD

Options we are trying to research before contacting an attorney:

  1. Have them refinance and one of us co-sign
    • It's my understanding that their poor credit would really hurt the interest rates
    • Not actually possible, FHA requires 2 years since Chapter 7
  2. Have the house gifted to us: transfer deed to us
  • lender permission for either:
    • having us assume the mortgage: Not possible? It's an FHA loan and we already have a primary house)
    • keeping the mortgage in their name Might be possible, but likely denied depending on lender? If successful, could we then refinance in our names only?
  • Gift tax: Even if it's on the full amount, still well under the lifetime exclusion.
  1. Add us to the deed instead of transferring
    • Mortgage company would be more likely to accept if we keep the parents on the deed. This actually seems common.
    • Could we then refinance without the parents names on the mortgage? Would this be considered cash out if the names on the new mortgage are different?
  2. Buy the house at a discount
  • Non-arm's length transaction
  1. Buy the house at FMV
  • Attempt to do an arms-length deal
  • Have parents rent property at "market rates" with a contract
  1. Add my SO to the deed: exemptions often exist for adding direct child
  • Lender is more likely to accept this
  • *Can we then refinance in just my SO's name and pay off their mortgage?
  • Gift tax would be half of the price of the house?

So it seems like a lot of options, and when meeting with an attorney I want to have some familiarity with these options in general.

In all cas

... keep reading on reddit ➑

πŸ‘︎ 2
πŸ’¬︎
πŸ‘€︎ u/tsploanq
πŸ“…︎ Feb 10 2021
🚨︎ report
DD for $BKI - possibly undervalued non-performant mortgage play. Trading @ $82. Current estimates ~$18 over market, 4/16 90c @ $1.25

First time DD, so call me stupid, I can handle it.

Not financial advice, I'm just a guy who likes stocks and has a little background in financial analysis and mortgage servicing data tech. What you do with your money is your choice.

Posted this right out of my analysis notes. Let me know if there's any formatting issues and I'll try to fix it. Not that most of you can read anyway.

Current Holdings

No large positions, recently bought in during dip, wish I had bought way more calls yesterday, they've already increase by +30%.

50 Shares BKI @ ~$81 average

2x BKI 04/16/2021 90.00 C @ .90

Summary

  • Analyst valuation likely based on Discounted Free Cash Flow (FCF) pricing models. See discounted cash flow section below for details
  • Growth in FCF slowed in 2020 due to acquisitions, Available equity to shareholders reduced due to leveraged acquisition
  • 10 year note yields increased this week and 5 year moving average SP500 returns are above historical averages
  • Discounted FCF valuation will be lowered given all above factors
  • My point of view, BKI will see increased FCF in near future and SP500 returns will regress to mean - indicating higher price target in near future
  • Current analyst consensus: 95βˆ’100 / share
  • My price target: approx 150 per share EoY

Positives

See sources and notes section for reference

  • Very near term: Growth in Origination, Data and Analytics to existing customers
    • 2020 GAAP Diluted EPS is expected to be $1.73 (Currently approx 1.5)
    • DnB have reported 10Million additional Free Cash Flow
  • 7% sustained growth target seems achievable given historical trends and increase in under performant loans
    • Current Discounted Cash Flow Models seem to point at 5% sustained grow market consensus @ 82/share, 15 Billion Enterprise Value
    • If 6% sustained growth is better demonstrated and extends to free cash flows, 2021 price target: $154 / share, 26 Billion Enterprise Value
  • Digital Servicing product includes: 64% Market share for MSP loans
    • Wave of under-performant / non-performant loans increases MSP held loans
    • Under performant loans need loss-mitigation: only 33% MSP loans currently use loss mitigation from BKI
    • Enhancing bulk data product offerings with SSIS packages vs traditional file dumps
  • AIVS AI Origination service gaining traction in difficult to penetrate top 50 lenders
  • Lower originations longer term drive need to for cost efficiency and/or more deferment of mortgage servicing activity
... keep reading on reddit ➑

πŸ‘︎ 19
πŸ“°︎ r/wallstreetbets
πŸ’¬︎
πŸ‘€︎ u/theDaninDanger
πŸ“…︎ Feb 18 2021
🚨︎ report
$BKI: Potentially Undervalued Mortgage Service FinTech with 64% market penetration. Trading at 82, analyst consensus between 95-100+, my target +150.

I posted my technical analysis yesterday in a few subs, but I wanted to post a longer DD in undervalued and educated investing. Please let me know if there is anything I'm missing or more information you would like.

Notice and Holdings

I am not a financial advisor and this post is for informational purposes only. This post does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. It's your money, do your own research

I do hold a small long position in BKI with, as of 19-02-2021 :

70 shares @ avg 81 / share

2x BKI 03/19/2021 85.00 C @ 1.60

2x BKI 04/16/2021 90.00 C @ 0.90

What is Black Knight Inc:

BKI (Black Knight Inc) is a FinTech Mortgage Data, Origination, Servicing, Sub-Servicing, and Investor Tech provider. BKI has 64% mortgage servicing market share, with multiple lines of business expanding existing customer footprints and new origination services as well.

Why it is undervalued:

Massive number of mortgages are 90+ days in default, highest since 2009 great recession.

However, foreclosures being initiated, probably due payment deferral options in COVID-19 stimulus bills: https://www.cnbc.com/2021/02/16/eviction-and-forbearance-protections-extended-for-homeowners.html

https://preview.redd.it/eoiey833nhi61.png?width=624&format=png&auto=webp&s=4fe04adcf9d85cdd8376491336389d968616005f

https://cdn.blackknightinc.com/wp-content/uploads/2021/01/BKI_MM_Dec2020_Report.pdf

In conjunction with other macro market forces, I believe the announced payment deferrals are lowering BKI short term perceived value. (I’ll explain why in a minute)

However, BKI is not the same business it was a few years ago. In my opinion BKI should be valued as a FinTech Growth firm rather than a traditional lending play.

Why do I think BKI is valued as a traditional lender? Because I can almost get the exact market price using Discounted Free Cash Flow Valuation.

Even under this old-school valuation, I believe BKI is undervalued. They have consistently beat earnings and have additional Free Cash Flow beginning to flow from their growth into the originator / lender space. (As opposed to their historic focus on Mortgage Service Providers.)

https://preview.redd.it/pfzl41z3nhi61.png

... keep reading on reddit ➑

πŸ‘︎ 27
πŸ’¬︎
πŸ‘€︎ u/theDaninDanger
πŸ“…︎ Feb 19 2021
🚨︎ report
DD for $BKI - possibly undervalued non-performant mortgage play. Trading @ $82. Current estimates ~$18 over market, 4/16 90c @ $1.25

Posting this in a few subs, mods let me know if that's against the rules, not sure the best way to share dd.

Not financial advice, I'm just a guy who likes stocks and has a little background in financial analysis and mortgage servicing data tech. What you do with your money is your choice.

Posted this right out of my analysis notes. Let me know if there's any formatting issues and I'll try to fix it.

Current Holdings

No large positions, recently bought in during dip, wish I had bought way more calls yesterday, they've already increase by +30%.

50 Shares BKI @ ~$81 average

2x BKI 04/16/2021 90.00 C @ .90

Summary

  • Analyst valuation likely based on Discounted Free Cash Flow (FCF) pricing models. See discounted cash flow section below for details
  • Growth in FCF slowed in 2020 due to acquisitions, Available equity to shareholders reduced due to leveraged acquisition
  • 10 year note yields increased this week and 5 year moving average SP500 returns are above historical averages
  • Discounted FCF valuation will be lowered given all above factors
  • My point of view, BKI will see increased FCF in near future and SP500 returns will regress to mean - indicating higher price target in near future
  • Current analyst consensus: 95βˆ’100 / share
  • My price target: approx 150 per share EoY

Positives

See sources and notes section for reference

  • Very near term: Growth in Origination, Data and Analytics to existing customers
    • 2020 GAAP Diluted EPS is expected to be $1.73 (Currently approx 1.5)
    • DnB have reported 10Million additional Free Cash Flow
  • 7% sustained growth target seems achievable given historical trends and increase in under performant loans
    • Current Discounted Cash Flow Models seem to point at 5% sustained grow market consensus @ 82/share, 15 Billion Enterprise Value
    • If 6% sustained growth is better demonstrated and extends to free cash flows, 2021 price target: $154 / share, 26 Billion Enterprise Value
  • Digital Servicing product includes: 64% Market share for MSP loans
    • Wave of under-performant / non-performant loans increases MSP held loans
    • Under performant loans need loss-mitigation: only 33% MSP loans currently use loss mitigation from BKI
    • Enhancing bulk data product offerings with SSIS packages vs traditional file dumps
  • AIVS AI Origination service gaining traction in difficult to penetrate top 50 lenders
  • Lower originations longer term drive need to for cost efficiency and/or more deferment of mortga
... keep reading on reddit ➑

πŸ‘︎ 5
πŸ“°︎ r/smallstreetbets
πŸ’¬︎
πŸ‘€︎ u/theDaninDanger
πŸ“…︎ Feb 18 2021
🚨︎ report
FINRA data now shows over 68 million GME short volume over the past 3 days. Even while on the SSR List, short volume represented 57% of all volume today and for the past 6 days straight! πŸ’Žβœ‹πŸ’ŽπŸš€πŸš€πŸš€

https://preview.redd.it/74hr71mecmk61.png?width=2821&format=png&auto=webp&s=3b4237bd1c8f19173ceab5098b85072eba5150b9

Hello again my fellow apes🦍🦍🦍!

BOILERPLATE:

I still know nothing, I can't do math good. PLEASE don't listen to me! Obligatory πŸš€πŸš€πŸš€

WARNING:

I HAVE BEEN TOLD THAT BY THE END OF MY POST YOU MAY EXPERIENCE SYMPTOMS SUCH AS EUPHORIA OR PREMATURE πŸš€ SYNDROME. THESE ARE SIDE EFFECTS OF 'CONFIRMATION BIAS'. TALK TO YOUR DOCTOR TO LEARN MORE.

---------

Last week I put together two analyses (Thursday Analysis & Friday Analysis) and it got up to #8 on r/wallstreetbets (you guys rock!), so I guess I’ll keep my 🦍 family happy and start doing these updates on the regular :D Note: For some reason I cannot get today's post on r/wallstreetbets - the content cant get through the automods, so I'm giving some love to r/GME

Shoutouts to u/RicFlairsCape u/Rrrrandle u/CultureCrypto u/tri_fire_engineer u/rchance1153 u/wrek u/cstooby for either suggestions or data to help with this post! Together 🦍 strong!

------------

Part 0: GME on Short Sell Restriction List

GME was on SSR List yesterday, which significantly reduced the ability to use short sales to depress the stock price. Therefore, we would not expect to see much short activity today and what allowed the two rallies today to go unchecked. (If you don’t know what the SSR list is, here is an explanation https://www.daytradetheworld.com/trading-blog/short-sale-restriction-ssr/)

https://preview.redd.it/tqvmm3wydmk61.png?width=1996&format=png&auto=webp&s=bbcd6e3918e90cf25c6cf6d96cfb086c2fcd9eea

ftp://ftp.nyxdata.com/NYSEGroupSSRCircuitBreakers/NYSEGroupSSRCircuitBreakers_2021/NYSEGroupSSRCircuitBreakers_202102/NYSEGroupSSRCircuitBreakers20210226.xls

------------

Part 1: FINRA Data

I put together the FINRA daily short data for the las

... keep reading on reddit ➑

πŸ‘︎ 4k
πŸ“°︎ r/GME
πŸ’¬︎
πŸ‘€︎ u/Cuttingwater_
πŸ“…︎ Mar 02 2021
🚨︎ report
FINRA data now shows only 28 million GME short volume over the past 3 days vs 67 million from Feb 24-26. With total trade volume also dropping 60% this week, could this be a sign of πŸ’Žβœ‹ and low availability of shorts? πŸ’Žβœ‹πŸ’ŽπŸš€πŸš€πŸš€

https://preview.redd.it/rrnrmpop2xk61.png?width=2837&format=png&auto=webp&s=cbc52a0a165120337b861b027e3077f2febc4019

Hello again my fellow apes🦍🦍🦍!

BOILERPLATE:

I still know nothing, I can't do math good. PLEASE don't listen to me! Obligatory πŸš€πŸš€πŸš€

WARNING:

I HAVE BEEN TOLD THAT BY THE END OF MY POST YOU MAY EXPERIENCE SYMPTOMS SUCH AS EUPHORIA OR PREMATURE πŸš€ SYNDROME. THESE ARE SIDE EFFECTS OF 'CONFIRMATION BIAS'. TALK TO YOUR DOCTOR TO LEARN MORE.

---------

If you haven’t seen my earlier posts, check them out here (post 1, post 2, post 3). The automods at r/wallstreebets are annoyingly strict, so I will be posting in r/GME from now on.

I’ve been told that, for some, my posts have too many words and numbers, so to appease my smooth brained 🦍, I put together some β€˜Aliens’ memes to summarize the current situation. Enjoy πŸ˜‰

------------

Part 1: FINRA Data

I put together the FINRA daily short data for the last week and you can see an increase in short volume over the last 8 days! http://regsho.FINRA.org/regsho-Index.html or https://www.FINRA.org/FINRA-data/short-sale-volume-daily

(Note: if you want to find this raw data, use the link above and you will need to go into each day's file (updated at 6pm daily) and search for GME, then copy the raw numbers. the top of the document will show you what each number corresponds to - this is not a user-friendly document)

Short and total volume have both gone down significantly but we are still averaging **57% of total

... keep reading on reddit ➑

πŸ‘︎ 915
πŸ“°︎ r/GME
πŸ’¬︎
πŸ‘€︎ u/Cuttingwater_
πŸ“…︎ Mar 04 2021
🚨︎ report

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