One analyst says to buy this just because it had fallen so much and thus is a good value? Yes, it is trading below its listed book value of $3.xx, but so what. IMH, NFI, LEND, and even NEW are trading below book value. What does that mean? I don't think that we have turned the corner with the defaults with bad loans. Would be fun to stick 40,000 shares long on HMB though for the fun of it and see if you can make a quick 20 grand though.