Correct. The bank, and the seller are. The seller has his money already. The bank created money out of nowhere to service that mortgage.
To my point of view, I see exactly where the haircut makes the most sense.
To my point of view, I see exactly where the haircut makes the most sense.
This is the part most people don't know or understand. We should fix the banking system first. Only one entity should be able to print money, not all banks.