Update About “Most Mortgages Are Probably Invalid”

My last post referred to a story that suggested that many — perhaps even the majority — of mortgages were invalid due to failing to properly transfer ownership during securitization. However, Calculated Risk has a guest post up that calls the story “sensationalist swill” and gives much more context than originally provided.

As I noted previously, I am very naive about this topic, so I don’t have much commentary. However, I will say that while the CR post brings up good points about why throwing out the mortgage was most likely the exception rather than the rule, it also doesn’t deny the core issue about legal ownership of the trusts. Indeed, the author states it is “not a nothingburger,” which I assume is legalese of some sort.