See: Mortgages are a manufactured product (2022) by Patrick McKenzie (patio11)
https://www.bitsaboutmoney.com/archive/mortgages-are-a-manuf...
https://www.bitsaboutmoney.com/archive/mortgages-are-a-manuf...
That article could be reduced to one phrase: "banks off-load mortgage risk by selling that debt to investors". But that doesn't drive clicks or strike the fear of corporations into your soul.