Tag:
Piggyback Loans
Latest Headlines
Latest Headlines
Sad tale of a Merrill Lynch securitization
The New York Times offers an arresting story about an emblematic Merrill Lynch securitization in 2006. The securitized securities were so-called piggyback loans--that is, second mortgages usually for about 20 percent of the value of a home. Borrowers used piggybacks to get away with puttin
