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Predatory Bender: A Story of Subprime Finance

Author : Matthew Lee Number of Pages : 456 Publisher : Inner City Press

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Financial Regulation after the Subprime and Credit Crisis

Financial Regulation after the Subprime and Credit Crisis

Author : Morris Goldstein Edition : 1 New Number of Pages : 144 Publisher : Peterson Institute

Understanding the Securitization of Subprime Mortgage Credit

Author : Adam B. Ashcraft Number of Pages : 132 Publisher : Now Publishers Inc

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? How does one securitize a pool of mortgages, especially subprime mortgages? ? What is the process from origination of the loan or mortgage to the selling of debt instruments backed by a pool of those mortgages? ? What problems creep up in this process, and what are the mechanisms in place to mitigate those problems? Understanding the Securitization of Subprime Mortgage Credit seeks to answer all of these questions. It provides an overview of the market and some of the key players, and provides an extensive discussion of the important role played by the credit rating agencies. Understanding the Securitization of Subprime Mortgage Credit provides a broad description of the securitization process and pays special attention to seven key frictions that need to be resolved. Several of these frictions involve moral hazard, adverse selection and principal-agent problems. The authors provide an overview of subprime mortgage credit with a focus on the subprime borrower and the subprime loan and discuss how predatory lending and predatory borrowing fit into the picture. Next, the authors examine subprime mortgage-backed securities and discuss the key structural features of a typical securitization. The last section examines credit rating and rating monitoring process, and the extent to which investors rely upon on credit rating agencies views.

Subprime Meltdown: From U.S. Liquidity Crisis to Global Recession

Author : Charles Brownell Number of Pages : 116 Release Date : 2008-07-16 Publisher : CreateSpace

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Why are there so many foreclosures? Why would banks, the pillars of fiscal responsibility and risk aversion, lend money to people who couldn't afford to repay their loans? How did Wall Street manage to hide the risk and sell the subprime mortgages? How did the subprime mortgage business unravel and evolve into a worldwide liquidity crisis? What are the frauds and scams, how do they work and what should you be aware of? What is the forecast for the future and what conclusions can be drawn? You will find the answers to all of these questions and more in this book. It is an easy-to-understand and easy-to-read collection of analyses, stories and experiences about the real estate business, the mortgage business and the subprime market in particular.

From subprime crisis to credit crunch: when the foreclosure-crisis story took over the nightly news and the nation's headlines, it required an unusual ... An article from: Mortgage Banking

Format : HTML Author : Dona DeZube Number of Pages : 14 Release Date : 2007-09-27 Publisher : Thomson Gale

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This digital document is an article from Mortgage Banking, published by Thomson Gale on August 1, 2007. The length of the article is 4071 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: From subprime crisis to credit crunch: when the foreclosure-crisis story took over the nightly news and the nation's headlines, it required an unusual response. The industry sought to bring some measure of reason to the emotional debate.(Cover Report: Delinquency/Default Management)
Author: Dona DeZube
Publication: Mortgage Banking (Magazine/Journal)
Date: August 1, 2007
Publisher: Thomson Gale
Volume: 67 Issue: 11 Page: 40(6)

Distributed by Thomson Gale

The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do about It

Author : Robert J. Shiller Number of Pages : 208 Publisher : Princeton University Press

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The subprime mortgage crisis has already wreaked havoc on the lives of millions of people and now it threatens to derail the U.S. economy and economies around the world. In this trenchant book, best-selling economist Robert Shiller reveals the origins of this crisis and puts forward bold measures to solve it. He calls for an aggressive response--a restructuring of the institutional foundations of the financial system that will not only allow people once again to buy and sell homes with confidence, but will create the conditions for greater prosperity in America and throughout the deeply interconnected world economy.

Shiller blames the subprime crisis on the irrational exuberance that drove the economy's two most recent bubbles--in stocks in the 1990s and in housing between 2000 and 2007. He shows how these bubbles led to the dangerous overextension of credit now resulting in foreclosures, bankruptcies, and write-offs, as well as a global credit crunch. To restore confidence in the markets, Shiller argues, bailouts are needed in the short run. But he insists that these bailouts must be targeted at low-income victims of subprime deals. In the longer term, the subprime solution will require leaders to revamp the financial framework by deploying an ambitious package of initiatives to inhibit the formation of bubbles and limit risks, including better financial information; simplified legal contracts and regulations; expanded markets for managing risks; home equity insurance policies; income-linked home loans; and new measures to protect consumers against hidden inflationary effects.

This powerful book is essential reading for anyone who wants to understand how we got into the subprime mess--and how we can get out.

Plunder: Investigating Our Economic Calamity and the Subprime

Author : Danny Schechter Number of Pages : 240 Publisher : Cosimo Books

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DANNY SCHECHTER, "The News Dissector" has spent decades as a truth teller in the media, with leading media companies and as an independent filmmaker with the award-winning independent company Globalvision. A graduate of Cornell and the London School of Economics, Schechter was a Nieman Fellow at Harvard and a multiple Emmy Award winner at ABC News, where he was among the first to cover the S&L crisis. In 2007, his film IN DEBT WE TRUST wasthe first to expose Wall Street's connection to subprime loans, predicting the economic crisis that this book investigates. Schechter is a blogger, editor of Mediachannel.org, and author of nine books. He has reported from 53 countries, and lives in Gotham. He owns no derivatives or tranches.

Subprime Mortgage Credit Derivatives (Frank J. Fabozzi Series)

Author : Laurie S. Goodman Number of Pages : 334 Publisher : Wiley

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Mortgage credit derivatives are a risky business, especially of late. Written by an expert author team of UBS practitioners-Laurie Goodman, Shumin Li, Douglas Lucas, and Thomas Zimmerman-along with Frank Fabozzi of Yale University, Subprime Mortgage Credit Derivatives covers state-of-the-art instruments and strategies for managing a portfolio of mortgage credits in today's volatile climate.

Divided into four parts, this book addresses a variety of important topics, including mortgage credit (non-agency, first and second lien), mortgage securitizations (alternate structures and subprime triggers), credit default swaps on mortgage securities (ABX, cash synthetic relationships, CDO credit default swaps), and much more. In addition, the authors outline the origins of the subprime crisis, showing how during the 2004-2006 period, as housing became less affordable, origination standards were stretched-and when home price appreciation then turned to home price depreciation, defaults and delinquencies rose across the board.

The recent growth in subprime lending, along with a number of other industry factors, has made the demand for timely knowledge and solutions greater than ever before, and this guide contains the information financial professionals need to succeed in this challenging field.