October 17, 2007
Mystified by 'Junk Mortgages'?
Last week I wrote an editorial for Inman News (subscription required) about the extent to which real estate is now intertwined with Wall Street and the need for both sides to learn more about the inner workings of each others' markets. With that in mind, I'd like to commend and recommend a terrific article: "Junk Mortgages Under the Microscope," in which Allan Sloan, senior editor-at-large of Fortune magazine, demystifies "GSAMP Trust 2006-S3," a package of mortgage-backed securities issued last year. Read on!