Today I found an explanation on The Wall Street Journal of the Making of a Collateralized Debt Obiligation or CDO. This is a big part of that murky (mostly unknown by consumers) secondary mortgage market that essentially dictates most of the guidelines, interest rates and availability of mortgage financing.
This is a step by step explanation that might clear up some of the fog surrounding this type of investment vehicle.
Check it out here.
Tuesday, January 01, 2008
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