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Donotunderstand

10/05/19 9:43 AM

#568265 RE: bcde #568258

yes
F and F own the loans - but they never LEND that money

F and F are not lenders

They buy loans - re package and borrow using the loans as collateral

How is that lending - which is the function I disagreed with

I buy a loan - I own a loan - GM IBM MBS paper --- but I am a buyer or investor or holder NOT a lender

F and F are holders - MBS makers - and borrowers - where thy borrow money from investors and GIVE them paper …. they do not lend money (they exchange money for bank mortgage paper - I do not view that as any sort of loan as there is no future obligation of either party to the other --- besides the bank being honest about the description of the loans it sold to F and F )