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Subprime Mortgage Crisis and America's Veterans

Subprime Mortgage Crisis and America's Veterans
Author: United States. Congress
Publisher: Createspace Independent Publishing Platform
Total Pages: 76
Release: 2018-01-22
Genre:
ISBN: 9781984079473

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Subprime mortgage crisis and America's veterans : hearing before the Subcommittee on Economic Opportunity of the Committee on Veterans' Affairs, U.S. House of Representatives, One Hundred Tenth Congress, second session, February 28, 2008.


Subprime Mortgage Crisis and America's Veterans

Subprime Mortgage Crisis and America's Veterans
Author: United States. Congress. House. Committee on Veterans' Affairs. Subcommittee on Economic Opportunity
Publisher:
Total Pages: 76
Release: 2008
Genre: Foreclosure
ISBN:

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Subprime Mortgage Crisis and America's Veterans

Subprime Mortgage Crisis and America's Veterans
Author: United States. Congress. House. Committee on Veterans' Affairs. Subcommittee on Economic Opportunity
Publisher:
Total Pages: 72
Release: 2008
Genre: Foreclosure
ISBN:

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Subprime Mortgages

Subprime Mortgages
Author: Edward M. Gramlich
Publisher: The Urban Insitute
Total Pages: 124
Release: 2007
Genre: Business & Economics
ISBN: 9780877667391

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Over the past decade, a new mortgage market offering loans at low interest rates and for little or no money down has given low-income people an opportunity to pursue the American dream of homeownership. The resulting wave in home buying promised to stabilize neighborhoods and families, boost the economy, and reduce crime. In many ways, the optimists were correct, but now, less than fifteen years later, the subprime mortgage market is collapsing, threatening to take the rest of the housing sector along with it.Subprime Mortgages: America's Latest Boom and Bust analyzes how the subprime market emerged, why it is in crisis, and how we can reform public policy to avert disaster. An attendant examination of the rental market also offers recommendations for shoring up what may be the best housing option for some families.


Preserving the American Dream

Preserving the American Dream
Author: California. Legislature. Senate. Committee on Banking, Finance, and Insurance
Publisher:
Total Pages: 170
Release: 2007
Genre: Consumer protection
ISBN:

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Busted: Life Inside the Great Mortgage Meltdown

Busted: Life Inside the Great Mortgage Meltdown
Author: Edmund L. Andrews
Publisher: W. W. Norton & Company
Total Pages: 236
Release: 2009-05-22
Genre: Business & Economics
ISBN: 0393071286

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The fiasco that sank millions of Americans, including one journalist, who thought he knew better. A veteran New York Times economics reporter, Ed Andrews was intimately aware of the dangers posed by easy mortgages from fast-buck lenders. Yet, at the promise of a second chance at love, he succumbed to the temptation of subprime lending and became part of the economic catastrophe he was covering. In surprisingly short order, he amassed a staggering amount of debt and reached the edge of bankruptcy. In Busted, Andrew bluntly recounts his misadventures in mortgages and goes one step further to describe the brokers, lenders, Wall Street players, and Washington policymakers who helped bring that money to his door. The result is a penetrating and often acerbic look at the binge and bust that nearly bankrupted the United States. Enabled by know-nothing complacency in Washington, Wall Street wizards used "collateralized debt obligations," "conduits," and other inscrutable financial "innovations" to put American home financing into hyperdrive. Millions of Americans abandoned the safety of thirty-year, fixed-rate mortgages and loaded up on debt. While regulators insisted that the markets knew best, Wall Street firms fragmented and repackaged unsound loans into securities that the rating agencies stamped with triple-A seals of approval. Andrews describes a remarkably democratic debacle that made fools out of people up and down the financial food chain. From a confessional meeting with Alan Greenspan to a trek through the McMansion bubble of the OC, he maps the arc of the Frankenstein loans that brought the American economy to the brink. With on-the-ground reporting from the frothiest quarters of the crisis, Andrews locates what is likely to be the high-water mark in America's long-term embrace of higher borrowing, higher risk-taking, and the fervent belief in the possibility of easy profits.


The Financial Crisis Inquiry Report

The Financial Crisis Inquiry Report
Author: Financial Crisis Inquiry Commission
Publisher: Cosimo, Inc.
Total Pages: 692
Release: 2011-05-01
Genre: Political Science
ISBN: 1616405414

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The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.


Understanding the Securitization of Subprime Mortgage Credit

Understanding the Securitization of Subprime Mortgage Credit
Author: Adam B. Ashcraft
Publisher: DIANE Publishing
Total Pages: 76
Release: 2010-03
Genre:
ISBN: 1437925146

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Provides an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. Discusses the ways that market participants work to minimize these frictions and speculate on how this process broke down. Continues with a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. Presents the key structural features of a typical subprime securitization, documents how rating agencies assign credit ratings to mortgage-backed securities, and outlines how these agencies monitor the performance of mortgage pools over time. The authors draw upon the example of a mortgage pool securitized by New Century Financial during 2006. Illustrations.


Symposium

Symposium
Author:
Publisher:
Total Pages: 304
Release: 2009
Genre: Global Financial Crisis, 2008-2009
ISBN:

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