Yesterday I received the following email from a reader of the blog. In it he asks about "trusts managing pools of securitized mortgages". Because I did not have an answer for him (and also because he suggested starting a thread on the subject), I am presenting it to the blogosphere for discussion. Anyone want to chime in?
Subject: what is the Wall St Journal talking about in today’s edition on C1, about subprime bond holders?
I am a reader of your blog. I know the banks bought bundled mortgages, but what are "trusts managing pools of securitized mortgages"? In Atlanta, these homes are selling cheaper than what the banks will sell [them] for; and [they accounted for] six times the volume during the six months ending March 31.
How do we tell which is which, on the MLS or what? Is it happening here now or soon? Maybe Commercial Lender would know? Would you like to start a thread on this?
Note: I believe this is the link to the WSJ article referenced in the subject line of Z’s email:
If you are not a subscriber to the WSJ online, here is another link I’ve found of the story on another blog: