Comments on: Mortgage Fallout Will Shelter Countrywide but hurt Choicepoint and Bankrate http://stocksandblogs.com/2007/04/mortgage-fallout-will-shelter.html?utm_source=rss&utm_medium=rss&utm_campaign=mortgage-fallout-will-shelter Thu, 24 Dec 2009 05:54:24 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Faisal Laljee http://stocksandblogs.com/2007/04/mortgage-fallout-will-shelter.html/comment-page-1#comment-461 Faisal Laljee Tue, 01 May 2007 03:14:00 +0000 http://blog.stocksandblogs.com/?p=243#comment-461 I closed out my short position for a 2% gain a few days after the post. The stock has been shorted heavily and I am afraid of the squeeze. I would be careful at this point but my long term stance on this stock is still bearish.<br/><br/>-- Faisal Laljee I closed out my short position for a 2% gain a few days after the post. The stock has been shorted heavily and I am afraid of the squeeze. I would be careful at this point but my long term stance on this stock is still bearish.

– Faisal Laljee

]]> By: jeffnapril http://stocksandblogs.com/2007/04/mortgage-fallout-will-shelter.html/comment-page-1#comment-459 jeffnapril Mon, 30 Apr 2007 22:02:00 +0000 http://blog.stocksandblogs.com/?p=243#comment-459 Dear Faisel,<br/> I also shorted RATE in the 38s, but was shocked to see it in the 40s today. I read your post here and you stated that you also had a short position before today. I was hesitant to short today, kind of want to wait until tomorrow. Did you add to your short position in the 40s today, and will you be holding your short position into earnings? Any advice would be appreciated,<br/><br/>Jeff K. Dear Faisel,
I also shorted RATE in the 38s, but was shocked to see it in the 40s today. I read your post here and you stated that you also had a short position before today. I was hesitant to short today, kind of want to wait until tomorrow. Did you add to your short position in the 40s today, and will you be holding your short position into earnings? Any advice would be appreciated,

Jeff K.

]]> By: ChuckJonesAtChoicePoint http://stocksandblogs.com/2007/04/mortgage-fallout-will-shelter.html/comment-page-1#comment-449 ChuckJonesAtChoicePoint Mon, 09 Apr 2007 19:18:00 +0000 http://blog.stocksandblogs.com/?p=243#comment-449 Mr. Laljee –<br/><br/>This blog contains several errors about ChoicePoint which require correction.<br/><br/>Your presumption of ChoicePoint’s involvement in the subprime mortgage market is grossly overstated. Our company is not “very heavily levered towards subprime,” as you wrote.<br/><br/>On January 24, ChoicePoint’s management laid out for investors the details of its Marketing Services business, which is the segment most directly tied to the subprime mortgage industry. During this conference call with industry analysts, we reported that 30 percent of the Marketing Services’ 2006 segment revenues of $79.7 million (or less than 3 percent of ChoicePoint’s annual consolidated revenues) came from mortgage customers and that this portion of the segment’s revenues was down 35 percent from 2005 results. <br/> <br/>Also, you incorrectly stated that “a few million identities were stolen” in the fraudulent data access incident which ChoicePoint disclosed in 2005. The fact is that we provided notice to fewer than 170,000 individuals who MAY HAVE BEEN affected by this incident. The number of individuals actually affected is estimated by various government agencies to range from about three dozen to as high as 1,000 consumers. <br/><br/>ChoicePoint has spent a lot of money and time to improve our products and enhance existing policies and procedures, so that even our harshest critics now acknowledge ChoicePoint as being a role model for our industry. To read a New York Times article on this topic, please go to http://www.choicepoint.com/news/featureNYT_112206.html. To read a report written by the independent research firm, Gartner, go to http://www.choicepoint.net/choicepoint/news/choicepoint_1996.pdf.<br/><br/>Thank you.<br/><br/>Chuck Jones, ChoicePoint Mr. Laljee –

This blog contains several errors about ChoicePoint which require correction.

Your presumption of ChoicePoint’s involvement in the subprime mortgage market is grossly overstated. Our company is not “very heavily levered towards subprime,” as you wrote.

On January 24, ChoicePoint’s management laid out for investors the details of its Marketing Services business, which is the segment most directly tied to the subprime mortgage industry. During this conference call with industry analysts, we reported that 30 percent of the Marketing Services’ 2006 segment revenues of $79.7 million (or less than 3 percent of ChoicePoint’s annual consolidated revenues) came from mortgage customers and that this portion of the segment’s revenues was down 35 percent from 2005 results.

Also, you incorrectly stated that “a few million identities were stolen” in the fraudulent data access incident which ChoicePoint disclosed in 2005. The fact is that we provided notice to fewer than 170,000 individuals who MAY HAVE BEEN affected by this incident. The number of individuals actually affected is estimated by various government agencies to range from about three dozen to as high as 1,000 consumers.

ChoicePoint has spent a lot of money and time to improve our products and enhance existing policies and procedures, so that even our harshest critics now acknowledge ChoicePoint as being a role model for our industry. To read a New York Times article on this topic, please go to http://www.choicepoint.com/news/featureNYT_112206.html. To read a report written by the independent research firm, Gartner, go to http://www.choicepoint.net/choicepoint/news/choicepoint_1996.pdf.

Thank you.

Chuck Jones, ChoicePoint

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