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Loan Modification

: Mortgage Lender Implode-o-Meter

Ranieri: Mortgage Securities Didn?t Cause Housing Crash

By Implode-Explode Heavy Industries

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The father of mortgage securitization wants people to know his creation isn?t to blame for the housing crash.

The practice of turning mortgage loans into bonds may have helped to fuel a binge in risky lending in the middle of the past decade, but before then, the model worked just fine, Lewis Ranieri argued in a letter to the Obama administration this week.

Full post as published by Mortgage Lender Implode-o-Meter on July 24, 2010 (boomark / email).

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