To mark it to market: Part 4, reverberations
[Continued from Part 1, Part 2 and Part 3]
The balls keep clacking, borrower to servicer to lender to trustee to security holder
In the previous post we reached the point where the trustee enters:
Enter the trustee
A trustee is necessary because securitization creates a new financial instrument — the security — issued by an institution and backed [...]
