Re: Dividend speculation
No way they bought back stock. When your business is to buy assets by issuing stock, you don't go spend the money and potentially be in the position where you can't raise money to buy an attractive asset because your stock price is down (due to some errant tweet or global issue). I could see if the stock got down to a 40% discount to book, but not where it was trading previously. The book is also probably down from Q2, so there just wasn't enough delta to make it worthwhile, especially with the Ditech deal still alive. Maybe if the Ditech deal died, I could see them having to do something with the spo proceeds, but not with Ditech still in the works.