12-14-2007, 04:45 PM
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#4619
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Consigliere
Join Date: Mar 2003
Location: Pelosi Land!
Posts: 9,480
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Is it Me?
Quote:
taxwonk
Individual mortgages aren't sliced up. It's the owners of the trust units (or the CMO holders) with various tranches that won't release their security interests and covenant protections in a workout scenario where they know they're losing their asses unless someone pays them a consent fee.
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Eh, maybe and probably. |
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