I have been told by some bank presidents that what they do with their loans depends on whether they originated it in house or bought it with a loss share agreement with the FDIC.With the FDIC they are guaranteed so many cents on the dollar on the loan and they have told me that the FDIC doesn't require them to do anything with the loan until 2014.So investors offering to buy at market for 50% on the dollar from original balance are being rejected as the FDIC is guaranteeing the bank 80 cents from original balance.Many banks are in a "wait and see" approach and are hoping for some recovery of pricing assets but knows a full recovery on the balance sheet is not possible from original loan balances funded during the boom.So each banks situation is different and you have to take advantage in the time period of being vulnerable.I have learned this on my deals with clients and myself.Once you get an approval on a low price with a specific asset manager or board member you have to close it fast.

Hi everyone, I'm new to the board and investing.

When I say crook, I mean S&L CEO's, Boards of Directors.I'm with you McKellar but, the ADULTS were in charge then.

. :) All realtor boards are essentially PACs.

Jade,Welcome to the boards.

Laminate is basically ground cardboard pressed into boards, then a picture of wood is "laminated" on top of the board.

Google is huge on this and Yahoo just jumped on board.

My experience so far is that they are just paying 3% but these deals are also much larger, all 3 mil plus.I really need to get my friend on this board as he is extremely knowledgeable about REOs.

I have actually seen a lot of "action" in my time and hope to be able to bring that knowledge to the board.

Keep reading this board and you'll learn a lot!