After this was revealed in 2011, the three networks dropped all FBC programs, and Atlantic Media Company President Justin Smith resigned from its board.
While it may be true that mortgage originations may slow in 2013, I believe that markets have adjusted the price of FBC in anticipation of a slower financial sector, giving it a 35% haircut from its highs of the year.
While most homebuilders like Toll Brothers (TOL) and Lennar ( LEN) have been bidding up ahead of their numbers and are trading at relatively high valuations, companies like Flagstar (FBC) are relatively inexpensive on a valuation basis and have seen their share prices cut by over a third.