Interesting. Rent default domino effect.https://www.washingtonpost.com/business/2020/06/03/next-big-problem-businesses-cant-or-wont-pay-their-rent-its-setting-off-dangerous-chain-reaction/ …
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The idea of packaging up a bunch of mortgages and selling them as a bond is the OG mortgage-backed security and in general doesn't suffer from this problem as the loans aren't split themselves into tranches, or at least, originally they weren't.
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There are plenty of protections in place for lendees in the highly regulated home loan industry, and GFC exposed this fragility you highlighted--in many cases it wasn't even clear which entity owned or controlled the confetti debt.
End of conversation
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