This blog has discussed the complex subject of mortgage securitization several times. Even at its most basic level, it is still complicated and difficult for most folks (including many lawyers) to fully understand. Well, there is now a chart that shows exactly how convolutedyour mortgage has become. Daniel Edstrom of DTC Systems, who specializes in securization-related issues, put togeter a chart tracing one family’s mortgage.
It took Mr. Edstrom almost a year to gather all this information. Keep in mind this is an ordinary mortgage; it did not begin as some crazy security dreamed up on Wall Street. It could very well have been your mortgage or mine. In fact, ours probably looks very similar.