Comments by Mark Dangelo
You also need to ask additional questions that both the private markets and government must answer. That minimally includes what guarantees are placed on securitized assets and what level of risk classifications will be assigned to them? Why are the same mortgage bankers who cheered the process leading to housing Armageddon, now being able to benefit from the workouts?
How can new firms and people be brought into the macro and micro processes of origination, servicing, and securitization (i.e., the three pillars of the mortgage supply chain) ? Where is the innovation and competition that will benefit the consumers and markets, while letting capitalism do what it has done for generations?
I am amazed that even after the problems we have had and continue to experience, that Congress still relies on the same people to testify and provide advice. There are many lessons to learn, but there are few in the markets who are listening…
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