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A comment on Richmond’s rules: Why one California town is keeping Wall Street up at night. Parent comment

Re:Richmond’s rules: Why one California town is keeping Wall... by toomuchtodo on Sunday October 06, 2013 @06:11AM (#6503659)
Agree. But! You're going to need to find a way to untangle which investor owns which mortgage (these are derivatives after all). I'd say you get 90 days as an investor to respond; after that, the city gets to take unilateral action.
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Re:Richmond’s rules: Why one California town is keeping Wall... by JumpCrisscross on Sunday October 06, 2013 @06:15AM (#6503666)
"But! You're going to need to find a way to untangle which investor owns which mortgage (these are derivatives after all)."

Mortgages are not derivatives, they are debts. Tracing the owner of a mortgage should not be challenging. In the event that it is, that becomes the mortgage servicer's fault, an issue between the investor and the servicer.

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