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<p>[QUOTE=&quot;medoraman, post: 1256097, member: 26302&quot;]I am sorry Fatima but every single thing you write here is wrong regarding a CMO or securitized bundle of mortgages. It is so wrong I feel you are simply are making it up and have absolutely no experience in CMO&#039;s or any other type of mortgage securitization product. I won&#039;t even go into how wrong this is, except to state nearly every word in this is incorrect. The only instance where this is correct is for the one half of one percent of origniated loans with problems, and even those frequently were bundled and offloaded to others. Originators NEVER keep any interest in the mortgage, they are in it for the servicing rights. I know, I handled the one half of one percent loans of a company that at the time was LARGER than Countrywide.</p><p><br /></p><p>Others don&#039;t have to believe me, (I know Fatima won&#039;t), but I was in this industry, and did my final MBA paper on this very subject. Not bragging, just explaining my background.</p><p><br /></p><p>Chris</p><p><br /></p><p>Edit: Sorry if that sounded harsh Fatima, (you just seem to bring out the &quot;best&quot; of me), but I could write a book, (have written a 120 page paper in fact), on this subject. If you wish for me to explain the machinations of mortgage securitization, its transfers of ownership, its obligations of and to the originators, the reason Countrywide may have a lawsuit issue but not a foreclosure one, Why Countrywide originates mortgages at all, PM me and I can go through the boring details. I just wanted the board to know this isn&#039;t the true legal landscape countrywide finds themselves in vis a vie defaulted or foreclosed homes.[/QUOTE]</p><p><br /></p>

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