One of the strongest picks in the mortgage and new home industry. Very good at what it does and great dividend.

Bought at the bottom of the barrel

IndyMac insiders were buying large amounts of the mortgage lender's stock after its shares sunk more than 30%. Buckingham views this as a good sign and believes the market has overly punished IndyMac. "While subprime mortgages generally include loans where the borrower's FICO score is 620 or below, the average FICO score on IndyMac's 2006 loan production was 701." He's a buyer of IndyMac up to $32.49.

Cheap

Alt-A lender

PE Ratio
Oversold

price pullback and yield

Downgraded by Friedman Billings from Outperform to Mkt Perform

Fat div

Upgraded by RBC Capital Mkts from Sector Perform to Outperform

similar to cfc but primarily playing in the alt A market.

Will be the next victim of the subprime fallout, even though Alt-A is their game

another one good one to short

"Mortgage lenders may be on shakier ground. The risks are worse for those dependent on payment stretching, which exacerbates credit risk and puts pressure on new originations, and indirectly sourced loans inked at weaker prices and with less credit control, says BofA's Robert Lacoursiere. Lenders susceptible to credit deterioration include Indymac Bancorp (NDE), Fremont General (FMT), Novastar and Accredited Home Lenders (LEND)."