Seeking Alpha

"What we talk about is you play anything with mortgage banking," says FBR's Paul Miller, because...

"What we talk about is you play anything with mortgage banking," says FBR's Paul Miller, because it's the only area where banks can show any sort of growth. There remains more than 20M Fannie and Freddie loans with a rate above 5%. We're in HARP 2.0 now, and there will be HARP 3.0 and HARP 4.0 before it ends, he says.
Comments (3)
  • HARP programs are nothing more than a transfer of wealth from taxpayers (who own FNM and FRE) to under-water mortgagees and banks (via refinancing fees).

     

    One of the worst concepts ever unless you are on the receiving end of this give-away of public money.
    20 Aug 2012, 09:57 AM Reply Like
  • took some xlf profits this morning at 15.17
    20 Aug 2012, 09:58 AM Reply Like
  • I'm so far under water on FAZ (bought it at 39). Would like to sell come calls on it but if they were to be called away that would be disastrous. Boy, can I pick 'em!
    20 Aug 2012, 10:51 AM Reply Like
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