> A scrappy breed of independent investor
> During the boom before the bust, lenders made mortgage loans to countless buyers who couldn’t afford them. Lenders later wrote off many of the loans, but borrowers’ obligation to pay remained. Today, in an improved economy, a rag-tag group of individual investors, plus some Wall Street giants, is buying these old loans and trying to tease value out of them.
It's a feel good story of the year! A group of scrappy rag-tag enterpreneurs, with a can-do attitude, hustling by ... going after people who were already fucked at least once.
> Others use loan servicers to try to get mortgage payments restarted so they can feed the loans back into the Wall Street mortgage securitization machine.
Yes, feeding things to a machine definitely sounds like a morally neutral proposition.