Don't confuse sub-prime with super-prime.....
Latest delinquencies (> 60 days) are DOWN form a whopping 0.28% to 0.24%. LTV is less than 75%. FICO scores north of 700. Indications are that dividend will be restored early the week of December 17th. If only $0.34 (1/2 of prior dividend), yield will be 12%.
This well-run firm's s tock (historically, management just loves to surprise to the upside) traded above $25 before the SUB mess cratered the mortgage business in August, and could move dramatically upward upon the potential restoration.
$9.9 (12/15/07)
