Finance

A future without foreclosure is no less dangerous 

What started as a clerical issue is beginning to feel more like the apocalypse. The mortgage finance industry survived the debacle of subprime mortgages, the collapse of commercial paper and market-wide liquidity locks only to be equally impacted by simple documentation errors. And this is why: for all of the different nuances to the next end-of-the-world moment, one thing remains the same — the reaction. As the problems get smaller, the responses seem to be getting larger.