> Ok, and where can I go get the mortgages that won't be sold and have comparable financing terms to the ones that do?
Why should they exist? If they can't be sold, the lender needs to find some other way to make their money on them. What kind of sane economic system would deliver mortgages like that? Should the government subsidize all mortgages?
I'm not a finance expert. But isn't the lender already making money on the mortgage by charging interest? That's the whole reason they can even sell the mortgage, right? Why would anyone buy a mortgage otherwise? They're purchasing a stream of interest payments, like a bond.
I think that's how mortgages were before the 1970s. The bank lent some money and accepted the payments. They didn't sell the mortgage to anyone.
Selling and securitizing mortgages is how 2008 happened. Maybe the old system was better in that way. Again I'm not an expert, so I don't know the side-effects of doing that.
Why should they exist? If they can't be sold, the lender needs to find some other way to make their money on them. What kind of sane economic system would deliver mortgages like that? Should the government subsidize all mortgages?