Tuesday, October 28, 2008

The landlord

Now that I've said about the agent, I'll go on to say about the landlord. It's a company; it may just be the same name, but the only thing I can find on Google is a US-based company listed in NYSE. (I tried to search for it in UK company registration, I do found a company of the same name but it is listed as a "dormant" company. Btw, I cannot even find the lettings agent on this list...)

This company calls itself "a newly-formed specialty finance company" that invest in residential mortgage loans, residential mortgage-backed securities, Alt-A mortgage loans, and CDOs. Hah. They made their IPO last year and their share prices have since fallen about 85%. Just last week they announced a secondary offering of 110,000,000 shares...

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