BiggerPockets

Here we go.....

There is NO SUCH THING

Banks have loans on the books and some of those loans are registered as " non performing" and the rest are " performing"

There may be " scratch and dents" as well (underwrite mishap) but for the most part they're designated into NPN's or Performing assets

Should an NPN go to ausction and be recaptured it becomes an REO

Back to " COMPILER"

The whole insanity of Gatekeepers, Dude with a key, One of 5 in the US, Direct with 25 banks, MANDATE, is HORSE :badwords:

Banks will liquidate assets as needed (flow)

If you know a trader at one of the top tiered banks:

Lehman
Deutsche
Bear
Suisse
Chase

Etc...

You'll get product

If you don't.....you'll get second hand or other institutional paper

Hedge
Pension
Insurance
Annuity
Investor

If you don't have those contacts you'll get brokered product

A compilation is a grouping from multiple sources (DOESN" T HAPPEN)

No banks are sharing paper to create a BIG POOL

EVERYONE you ever talk to that has a 4B, 10B list will ALWAYS drop the same crap if you ask them this question,

" How many Billion dollar transactions have you closed" ?

The answer is ALWAYS

ZERO!!! or this is a new " relationship" .......It's BS!

Every bank listed above sends product out for liquidity reasons....

If you want to call moving distressed assets as " compiling" be my guest

It makes you sound like a noob though

Just to finish my rant.....

Yesterday I had an institution call me asking if I was interested in their product list,

Easy answer (yes)

They asked what states

Easy answer (all of 'em)

They asked if I liked Non Performing notes

Easy answer (yes)

The point is.....would they have created a specific list for me?

It sounded like it,

Would have I considered it a compiling?

I have a different terminology for what it sounded like she was willing to do

Carving

The tape was compiled by data software and analysts

So in retrospect

Your computer is the COMPILER!

:beer:

This is coffee time,

Glad I could shed a perspective.......there are more out there that may feel or have different experiences but I seriously doubt ANYONE will ever show you a W-2 with " compiler" as their job description...lol

People make stuff up as they go,

Best of luck to you,