What? This must be a troll, right? You figured because a homeowner is paying 8% that 100% of that revenue would come to you? No servicing fees. No accounting.

What? This must be a troll, right? You figured because a homeowner is paying 8% that 100% of that revenue would come to you? No servicing fees. No accounting. No overhead. Zero defaults. Stop making it out to be nefarious. It's not in the process of "making a mortgage backed security". It's in the process of servicing a mortgage.