I reported on November 5th 2013 that the Fed is buying US Treasury Bonds and mortgage-backed securities. A mortgage backed security is a type of asset-backed security that is secured by a mortgage, or more commonly a collection of sometimes hundreds of mortgages in a portfolio. Hopefully the Fed is doing better due diligence than FANNIE and FREDDIE did when they backed all those bogus portfolios between the years of 2003 – 2005, right before the real estate crash. Hundreds o