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From a Lehman Brothers Report: <p class="MsoNormal">Doom and gloom in the US housing sector over the next two years In this Lehman Report (Pages 7-11) from our Fixed Income U.S. Securitized Products Research, entitled MBS Strategy Weekly, the following key conclusions are reached...

Great point Awgee, it was like a big game of hot potato (add an e if you're a VP from Indiana) with transaction fees grabbed by each successive holder of risk - I honestly don't think anyone truly knew what their risk was, but were too afraid to question the gravy train - everybody else was...

The best part, IMHO, is it doesn't take much to turn that low FICO tranche into a pretty decent performing portfolio with minimal effort. Look at the following chart with lower FICO ranges, but with skin in the game and income verification: [sorry I can't figure out how to paste from CR...

No_Such_Reality, I had the same discussion today with few people and we couldn't agree with you more. The majority of stock purchases and sales are initiated by computer trading software running algorithms that have very little to do with actual company results, profits and prospects...

Yep, sorry about that, I should have been more clear that they only show their own trust properties.

graphrix, Thank you for the Fidelity link, I will definitely check it out. The ReconTrust site I go to is : http://www.ctcres.com/ which, unfortunately, also only tracks Santa Ana.

graphrix, Always enjoy your insight. I check the ReconTrust site every few days to see the upcoming roster and the "sold" information, but it's far from an aggregate picture and I find the pay sites like RealtyTrac useless. Any other suggestions for tracking foreclosure sales?

Irvine Renter, I know people can be extravagant, but that's a lot even for flashy OC. In the end, it's probably too high a risk to undertake unless you had personal knowledge of a person's assets.

Technical Question on Foreclosures: Are all the foreclosures we are seeing on re-financed properties trustee sales as opposed to deficiency judgments? If so, then perhaps my point is moot, but I believe in California a re-finance does not provide a borrower with anti-deficiency...

Another good example is Monarch Bay, which is like Emerald Bay at a 50% discount because the owners only have a 40% interest in the land and the ability to buy it out doesn't come up for about 5 more years. Beacon Bay is long term land lease from the City and the rent is set based on the...

I'm wondering what I should take into account when looking at the investment - all it takes is 15% to survive.

Not Irvine or OC - nationwide Recently saw an offer on a nationwide portfolio of non-performing seconds. There were approximately 400 properties in the portfolio and distributed nationwide. $.10 on the $1. Thoughts?