Again I think the original statement is made entirely because people do not understand the secondary market.
Come on guys, the fact is that the wholesale value of any note changes everyday with interest rates. The actual value of a note changes daily so making statements like what was made above are done because people don’t understand the basics of note trading. To think the value of a note on the day a mortgage is originated stays the same as the bond market fluctuates daily is a simple lack of knowledge.
