You Lucky Bastards: FMD

Quote from ByLoSellHi:

I purchased x,000 shares @ 7.64, and I purchased x,000 shares today @ 4.75, with an average price of 6.195.

It's purely a wait and hold. I think the irrationality of the credit crisis pushed TERI into the corner they got shoved into, lining up a substitute backer of this student loan debt won't be difficult when cooler heads prevail, that this is a beautiful mixture of profit and public policy as dual goals, and that recessionary or contractionary economic periods are generally good for higher education.

I may go big if I have the brass cojones and buy a boatload tomorrow, assuming this stays leveled off.
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Tough break, bud.

Current price: $1.15 :eek:
 
Once bitten, fuck them :)

Seriously though, why would the private lenders make a come back when Obama has stated his basic opposition to their business model. Perhaps SLM would be a better play at this point and not all that much difference in stock price now.
 
Quote from Mvic:

Once bitten, fuck them :)

Seriously though, why would the private lenders make a come back when Obama has stated his basic opposition to their business model. Perhaps SLM would be a better play at this point and not all that much difference in stock price now.
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The advantage FMD has is their database/models that allow them to determine if a borrower is a good risk. The obvious problems with students is they don't have significant FICO scores, so FMD uses other things to risk rate them, and does a very good job at it from what I've read over the years.

Those data and models are valuable.
 
Getting a little action here lately.

TERI bankruptcy conclusion coming up. FMD may get a payment from them.

Office of Thrift Supervision lifted a cease and desist order that forced its banking subsidiary (Union Federal Savings Bank) to stop originating loans.
 
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