Don't get me started on the big new idea on Wall Street to turn rent payments themselves into a securitized financial product (as opposed to doing this indirectly via selling mortgages to landlords)https://twitter.com/thrasherxy/status/1358632730217562112 …
-
-
But a lot of investors wanting to take advantage of the mortgage boom and the easy credit just blatantly lied -- either via a simple loophole (live in the house a year as the mortgage originator to fulfill your contract terms, then flip it or rent it out) or just outright fraud
Show this thread -
And the people they were theoretically defrauding (the banks and their underwriters) didn't give a shit and didn't bother to check because the whole system had become just creating new mortgage debt and then immediately passing the hot potato onto the open financial markets
Show this thread -
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.