‘I Can Be the Bank’

Page one edition of The Wall Street Journal on Nov. 21, 2018.

Whatever happened to all those bad mortgage loans that sank the economy back in 2008? My Wall Street Journal colleague Ben Eisen and I decided to find out.

It turns out that things have come full-circle for many of these loans, which are now one of the hottest trades on Wall Street. Investors big and small have started buying them up in hopes of getting homeowners to start paying again, and collecting the mortgage payments as income – or selling them to other investors at a profit.

Here’s our inside look at the market for these so-called “reperforming loans” and an excellent companion video from Erica Berenstein that ran alongside the story. It was our way of taking a unique look back on the crisis ten years later. Enjoy.