RE:RE:RE:Burning the furniture to heat the housebruhhh1 wrote: No one has any idea how strong their mortgage book is, except the failure rate was lower than big six banks. Saying/conjecturing that they sold off "all their best mortgages", leaving only garbage, is just conjecture. For all you know they're all good.
But why are the banks not interested in buying up their assets?
Selling off their mortgages is coming from a position with 0 leverage so how would they pull this deal off with a senario where they keep the best mortgage crop for themselves.
I think they def sold for less than $ value, add their interest to this...