Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Secret Squirrels hit! -- Ignore unavailable to you. Want to Upgrade?

To: Trumptown who wrote (1724)	10/27/1998 10:27:00 AM
From: Larry Voyles	Read Replies (1) \| Respond to of 12872

PAMM - Because of the discontinuation of the wholesale loan division, the company now expects that its fourth quarter loan production will be substantially lower than prior quarters. All hands, clear the bridge! Crash dive! Ouch. I wonder how much of a dead-cat bounce there will be. Inquiring minds want to know: They didn't mention how much of a charge (or write-off) they will have to take for the discontinuation. They talked about the cost of loan origination, but they didn't say one single word about the profitability of said loans. Sounds like they aren't going to be making much money (if any), but are looking for ways to control their losses. With the credit market loosening (or not tightening, as the case may be), these guys have to be in pain. Subprime loans are just harder to sell.