On: Happy 400th birthday to the world’s oldest bond

[Spooky23]

The banks offload the obligation to Fannie Mae and collect commissions and administrative fees. With respect to mortgages, they function essentially as sales agents for the government.

[rvba → Spooky23]

Your view is very USA centric. In many places the loans are not unloaded.

[Spooky23 → rvba]

Fair point!