LUM could be the next mortage runner

Picked up some DFC at 4.14 on news just out---Delta Financial cuts 300 jobs, to take charge in Q3
Wed Aug 22, 2007 1:07PM EDT
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More Business & Investing News... Featured Broker sponsored linkAug 22 (Reuters) - Subprime lender Delta Financial Corp. (DFC.O: Quote, Profile, Research) said it has cut about 300 jobs, or 20 percent of its workforce, to address the expected decrease in loan originations resulting from the deterioration of credit markets.

The Woodbury, New York-based company also said it will take a related pre-tax charge of $2.0 million to $2.5 million in the current third quarter. (Reporting by Sweta Singh in Bangalore)

This should get the mortage companys moving higher in the morning--Bank of America to invest $2 bln In Countrywide: WSJ

By Katherine Hunt
Last Update: 5:52 PM ET Aug 22, 2007Print Subscribe to RSS Disable Live Quotes SAN FRANCISCO (MarketWatch) -- Bank of America Corp. (BAC:BAC
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, , ) is making a $2 billion equity investment in Countrywide Financial Corp. (CFC:CFC
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, , ) , the Wall Street Journal reported on its Web site late Wednesday, citing people familiar with the situation. BofA will buy $2 billion worth of the mortgage company's preferred stock yielding 7.25%, which can be converted into common stock at $18 per share, the Journal reported.

Buy LUM when it goes back under a buck, HCM and DFC look good and they have not run yet. LUM had 1 heck of a run time for a pull back imo