Finding bank asset lists online?

[Jeff Cutter]

I asked a re-habber how he finds his deals and he told me about this strategy. He gets lists of bank assets, which he claims is public information if the bank is FDIC and looks for houses on that list that are in his area. He checks to see if any of those houses on that list are on the MLS. He then goes directly to the bank and makes offers on those houses that are NOT on the MLS.

He would not divulge where online you find these lists. I have searched and researched and I haven't been able to locate any such list.

Is anyone here familiar with the strategy of finding deals this way?