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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (59364)	4/26/2017 11:39:20 AM
From: E_K_S	Respond to of 78753

Re: NYCB Missed on earnings for various reasons. Have a stinker bid in at/near $13.00/share. May be best to buy after xdiv next week. Company said more of their portfolio loans were pre-paid and new originations (especially multi family) were off (over 40% previous quarter). Company also stated more expense for regulatory compliance which may/could be less w/ Trump legislation. As rates rise, they s/d be able to maintain their yield/spread on new originations in their portfolio loan basket. Stock at/near 4 year low and if I can lock in a 5% yield, could be a safe hold. GN valuation has fair value at $15.95/share but that includes $1.5Bln in Goodwill and not sure BV is accurate so GN calculation may/could be overstated. EKS

To: Paul Senior who wrote (59364)	6/27/2017 9:25:11 AM
From: E_K_S	Respond to of 78753

Re: NYCB Been looking to add to this Bank stock at/below $12.50/share. Not quite reached my price yet. This news out today looks positive and s/d help bring out some hidden value. New York Community Bancorp, Inc. Announces Strategic Sale of Mortgage Banking Business and Residential Assets Covered under FDIC Loss Share Agreement New York Community Bancorp, Inc. ( NYCB) (the “Company” or “New York Community”) today announced that it has entered into an agreement to sell its mortgage banking business, which was acquired as part of its 2009 FDIC-assisted acquisition of AmTrust Bank, to residential mortgage industry leader, Freedom Mortgage Corporation (“Freedom”). Freedom will acquire both our origination and servicing platforms, as well as our mortgage servicing rights portfolio with a current aggregate unpaid principal balance of approximately $21.0 billion. It is expected that Freedom will retain certain employees from the Company’s Cleveland, Ohio mortgage banking business and plans to maintain operations in the area. Additionally, the Company has received approval from the FDIC to sell the assets covered under our Loss Share Agreements (the “LSA”) and we have entered into an agreement to sell the majority of our one-to-four family residential mortgage-related assets, including those covered under the LSA, to an affiliate of Cerberus Capital Management, L.P. (“Cerberus”), one of the world’s leading private investment firms. On the sale, the head of Residential Mortgage Investing and a Senior Managing Director of Cerberus, Joshua Weintraub stated, “Cerberus is pleased to announce the consummation of this transaction with New York Community. This deal demonstrates the market leading ability of Cerberus, along with its affiliated asset management company, FirstKey Mortgage, LLC, to partner with financial institutions to achieve mutually beneficial outcomes for certain mortgage assets.” As of March 31, 2017, the carrying value of these assets was approximately $1.9 billion. ---------------------------------------- EKS

To: Paul Senior who wrote (59364)	8/22/2017 10:24:38 AM
From: E_K_S	Respond to of 78753

New York Community Bancorp, Inc. (NYCB) - Last $11.95/share w/ 5.7% dividend I pulled my order a few weeks ago that was a GTC Buy at $12.37/share. Have not watched the stock but noticed today it traded as low as $10.91/share Div now 5.7%. I am still going to hold off buying share as the sector may/could be in an extended cycle peak. That said, it's probably a good value Buy at the current prices. Thought I would post here if someone was looking for a good div payer and at a value bargain price. EKS