Seeking Alpha

There's another entrant into the reborn private-label mortgage securitization business as...

There's another entrant into the reborn private-label mortgage securitization business as PennyMac Mortgage Investment (PMT) management unveils a plan to issue its first RMBS in Q3. "(It's) a significant new opportunity," says CEO Stan Kurland. Redwood Trust (RWT) investors nod in agreement.

Check out Seeking Alpha’s new Earnings Center »

Comments (1)
  • Renoira
    , contributor
    Comments (86) | Send Message
     
    http://bit.ly/10xjbVx

     

    Above is a consumer site of consumers pissed-off about service at PennyMac.

     

    While B of A is suffering under the strain of Countrywide's massive fraud lawsuits, PennyMac opens up with the same executives of Countrywide and is making a nice hefty profit foreclosing on the previous fraudulent loans.

     

    With all the fraud lawsuits rising to the surface over the past few years. Investors should exercise caution when investing in secondary markets like PennyMac, since PennyMac carries many loans that were victims of previous fraud.

     

    Or as the deflectors have previously told the suffering homebuyers:

     

    "Caveat Empter" Let the buyer beware
    23 Apr 2013, 03:44 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs