Audits for the Secondary Market
Securitization is the transformation of debt into securities, called bonds or pass-through certificates, whose payments of principal and interest are derived from the payment streams generated by a pool of loans, such as mortgages. Many people dont realize it, but the first time a mortgage was securitized was in 1909, and over the following twenty years, until 1929, the securitization of mortgages become quite popular, until the extreme leverage of stock pools, combined with some financial manipulation and speculation by Goldman Sachs, led to the crash of 1929. Sound familiar?
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