The Housing Market Crash’s First Victims Won’t Be Homeowners, Mar. 24, 2020–W.E. Messamore
When the housing market crashes, it’ll be mortgage servicers and lenders that lose their shirts. Then the financial institutions that invest in bundled mortgage securities. Bob Broeksmit, CEO of the Mortgage Bankers Association, is concerned that servicers won’t be able to meet their obligations to the investors and the whole process will break down.