Um no. Pension funds rely on interest from banks (collected from mortgages and other debt-based securities) to pay out senior pensions. People rely on interest from banks to pay their annuities. Banks rely on mortgage payments to be able to have cash on hand to give to customers withdrawing money.

I don't disagree that we will have to figure out how to make all this works without collecting 100% of mortgages, but the idea that it's so easy is crazy.