| Mar 8, 2012 9:51AM Here's a walk down Memory Lane. "From my point of view, if 80% of the sub-prime borrowers are managing to make ends meet and make the mortgage payments on time, then, shouldn't we as a Nation, be justifiably proud that we are dramatically increasing homeownership opportunities for those who have been traditionally left behind." Excerpt from Angelo Mozilo , "The American Dream of Homeownership: From Cliché to Mission." (John T. Dunlop Lecture sponsored by Harvard's Joint Center for Housing... Mar 8, 2012 4:37PM As capital market consultants, we spend a lot of time talking and thinking about servicing-what it is, how it is valued, and how it can be expected to behave. While a lot of people in the industry have an understanding of servicing and its related securities, I think it will be helpful to take a basic look at the concepts underlying assets comprised entirely of interest cash flows , as well as how that market evolved. Let's first take a look at mortgage cash flow streams. As we know, mortgage cash...
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