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Flagstar Bancorp (FBC -7.6%) tumbles after last night's earnings revealed the company suffered...

Flagstar Bancorp (FBC -7.6%) tumbles after last night's earnings revealed the company suffered not just from the industry-wide slowdown in the mortgage business, but also from market share losses. Gain on sales from mortgages had been comfortably above $200M during each 2012's quarters, but shrank to just $137.5M in Q1 (presentation slide #10). "We have taken steps to gain market share and improve margins." Book value/share of $16.46, up from $16.12 in Q4, $14.92 a year ago. Conference call is underway. (PR)
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