Mortgage Renegotiation

[sugarpop]

Originally Posted by Beestie

Your loan was sold once - maybe twice. What was sold over and over was the servicing rights - collecting the payments.

Unless your loan was one of the few that don't get carved up, it was put into a pool of other similar loans, and the combined payments from you and your pool-mates are split up into all sorts of interesting structures. However, as complicated as the structures are, all the payments to all the structures have to equal all the payments by all the borrowers for any given month. And that can get incredibly complicated.

hmmm. Maybe when I used the "traded" it was wrong, but from this description, can you understand how I made that mistake? What do you mean by "carved up" and"interesting structures?" I am trying to understand this. Thanks!