Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (360882)	11/30/2007 4:32:50 PM
From: Tenchusatsu	Read Replies (2) of 1578012

JF, I read somewhere that the mortgage crisis was partly due to all of the trading of these mortgages. Used to be that whoever first offers the mortgage is also the one who owns it throughout the life of the mortgage. Hence the owner (i.e. the bank) has a vested interest in making sure the borrower has the means to make the monthly payments. These days, you have these fly-by-night mortgage traders who offer risky loans to people who really shouldn't be offered such. Then the traders will simply sell their mortgages to the highest bidder. The new owner of the mortgage ends up holding the bag. I don't know if that was obvious info to you or not, but it was interesting to me. Tenchusatsu

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