Nick Fountain

He's attempting to move the market for mortgage-backed securities.

To help explain what those are and what he hopes to do, we called up this person.

Who are you and what do you do?

All right.

Susan is a big deal in the mortgage world.

So weird that they can just manifest this without doing anything.

It's like when I try to tickle my toddler and I'm just like, I'm not even tickling them, but I'm moving my fingers.

They're secretly crying inside?

Yeah.

Yeah, she says new investors might be crying because rates are going down.

But for people like James, it's great.

Every little bit counts.

You keep saying geopolitical events.

What do you mean there?

She says mortgage rates went down a little after the White House announced Fannie and Freddie's plans and then went right back up a week after when Trump threatened tariffs on Europe over Greenland.

So short-lived relief.

Interest rates are fickle.

Yeah, what's the downside?

Yeah, when the government directs them to buy up mortgage-backed securities, those become effectively the problem of U.S.

taxpayers.