In other words, it was derived from data rather than deterministic logic.

They have no financial interest in the loan - they derive income from the service fees they collect on the performing portion of their portfolio.So other than the labor-intensive nature of dealing with foreclosures, BK's and REOs there is no quarterly deadline.

I don't think it's peaked by any stretch.The THI was derived from WEN. which I purchased in '90 for $6.13/share.

If you've got friends who can handle the management oversight, you're in a better position, but running properties out of state can be a nightmare.I'm actually dealing with my own nightmare on some properties that are out of state, and every problem is derived from mis-management.

Add on the convoluted and opaque nature of CDO's, other derivatives, SIV's, credit card and auto loan securitization and then top it with a government that threatens to change the rules and undo centuries of contract law and you've got a recipe for economic chaos.

You'll see the hedge funds slap all these properties into derivatives and them market them out to pension funds who will get stuck with the junk when it crashes.

You can also go to permits and look up all opened, closed and expired permits, with those in hand when you walk the property you are likely to be able to see what's been altered, and derive what's legal and illegal.With as many as 20 properties you need a whole team to help you.

In a company you can file a shareholders derivative suit if they are abusing their voting rights.

"Preferred Return" - I tried to determine how that was derived and it's relation to the rest of the analysis.

House Bill 1050 (S.L. 2014-3), signed into law May 29, 2014 by Governor McCrory, provides that the gross receipts derived from the rental of a private residence, cottage, or similar accommodation listed with a real estate broker or agent where a person occupies or has the right to occupy such on or after June 1, 2014 is subject to the 4.75% general State and applicable local and transit rates of sales and use tax and any local occupancy tax imposed by a city or county.