Trulia Brook…, Other/Just Looking in Brooklyn, NY

When a subprime mortgage packaged into a CDO goes into default, who gets the proceeds from foreclosure?

Asked by Trulia Brooklyn, Brooklyn, NY Mon Feb 11, 2013

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A CDO is a Collateralized Debt Obligation so whoever holds that investment unless it was insured in such a case the insurer.
0 votes Thank Flag Link Fri Aug 23, 2013
Most likely, it's the owner of the top tranche.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Wed Feb 13, 2013
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