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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (64197)	5/12/2006 3:07:45 AM
From: energyplay	Respond to of 206097

A number of mortgage originators (Countrywide being a leader in this) have packged up loans and sold them to Europeans who needed the yield for pension / insurance companies. I'm sure Freddie and Fannie have some also, but I suspect some of the very low doc stuff is stuck in various portfolios - maybe too flaky for anyone to buy. I have heard extensive advertisements for "no income verification" - I am guessing there aren't enough dope dealers to go around, and there are supposed to be 2 million + illegals in California alone. So maybe there is a large pool, maybe they won't be deported or they have the house in the name of a family memeber who is a citizen. There are big unknowns on who has the paper, and who is on the other end. Maybe the Comptroller of the Currency and the bank inspectors know.