Zeev's Turnips Patch-No Politics (ZEEV)

[TexasTech]

Zeev:

Here is a short version of what NFI does.. copied from a website. It seems we're looking at $7.00 in dividends before years end if you are interested.

God Bless,

TT

"""NFI is in the business of packaging loans and selling bonds on the package. The loans come from retail (their brokers) and wholesale (other brokers). They decided a year ago that it was cheaper to buy loans than to pay for a bunch of people to sit at desks and take loan apps. Ignore where the loans come from. Look at the spread between what the loans cost and what they pay when the bonds sell. Take a look at loan originations vs. payoffs of loans. Notice that the bonds are non-recourse with significant overcollateralization.

The loans they buy are filtered and double checked so that they can be packaged into AAA bonds (for the most part). Don't look at NFI as a loan company. Their value added is filtering, packaging, and securitizing the loans."""