Random Feed wrote an interesting post today on
Here’s a quick excerpt
A study by the Boston Fed came to the credulity-straining conclusion that securitization was not a culprit in the noteworthy dearth of loan mods on residential mortgages, Lew Ranieri remarked back in 2008 at the Milken Conference that he was appalled by what was going on, that servicers used to do mods (as in no one worried about offending the tender sensibilities of investors in the pools), I have heard similar things from old real estate hands, that in the stone ages when banks owned paper,

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