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Finance and Economics Discussion Series: The Role of the Securitization Process in the Expansion of Subprime Credit by Taylor D. Nadauld, Shane M. Sherlund, United States Federal Reserve Board - Paperback
66.15 درهم

Finance and Economics Discussion Series: The Role of the Securitization Process in the Expansion of Subprime Credit by Taylor D. Nadauld, Shane M. Sherlund, United States Federal Reserve Board - Paperback

كن أول من يقيِّم هذا المنتج 

66.15 درهم 

  - ستوفر -66.16 درهم
الأسعار تشمل ضريبة القيمة المضافة  التفاصيل
رقم ال ISBN
9781288704910
الفئات
سياسة
الكاتب
Taylor D. Nadauld, Shane M. Sherlund, United States Federal Reserve Board
الناشر
Bibliogov
الوصف:

We analyze the structure and attributes of subprime mortgage-backed securitization deals originated between 1997 and 2007. Our data set allows us to link loan-level data for over 6.7 million subprime loans to the securitization deals into which the loans were sold. We show that the securitization process, including the assignment of credit ratings, provided incentives for securitizing banks ...

تشحن من الولايات المتحدة
اشحن الى دبي (تغيير المدينة)
التوصيل خلال الخميس ٢٩ نوفمبر - السبت ١ ديسمبر الي دبي

حالة السلعة:
جديدة
البائع:
InternationalBookStore (85% تقييم ايجابي)

معلومات المنتج

  •  

    المواصفات

    رقم ال ISBN
    9781288704910
    الفئات
    سياسة
    الرقم المميز للسلعة
    2724354411012
    المؤلفين
    الكاتب
    Taylor D. Nadauld, Shane M. Sherlund, United States Federal Reserve Board
    المؤلفين
    الناشر
    Bibliogov
    رقم ال ISBN
    9781288704910
    الفئات
    سياسة
    الرقم المميز للسلعة
    2724354411012
    المؤلفين
    الكاتب
    Taylor D. Nadauld, Shane M. Sherlund, United States Federal Reserve Board
    المؤلفين
    الناشر
    Bibliogov
    معلومات تقنية
    غلاف الكتاب
    غلاف عادي
    اللغات والبلدان
    لغة الكتاب
    الانجليزية
    إقرأ المزيد
  •  

    الوصف:

    We analyze the structure and attributes of subprime mortgage-backed securitization deals originated between 1997 and 2007. Our data set allows us to link loan-level data for over 6.7 million subprime loans to the securitization deals into which the loans were sold. We show that the securitization

    We analyze the structure and attributes of subprime mortgage-backed securitization deals originated between 1997 and 2007. Our data set allows us to link loan-level data for over 6.7 million subprime loans to the securitization deals into which the loans were sold. We show that the securitization process, including the assignment of credit ratings, provided incentives for securitizing banks to purchase loans of poor credit quality in areas with high rates of house price appreciation. Increased demand from the secondary mortgage market for these types of loans appears to have facilitated easier credit in the primary mortgage market. To test this hypothesis, we identify an event which represents an external shock to the relative demand for subprime mortgages in the secondary market. We show that following the SEC's adoption of rules reducing capital requirements on certain broker dealers in 2004, five large deal underwriters disproportionately increased their purchasing activity relative to competing underwriters in ZIP codes with the highest realized rates of house price appreciation but lower average credit quality. We show that these loans subsequently defaulted at marginally higher rates. Finally, using the event as an instrument, we demonstrate a causal link between the demand for mortgages in the secondary mortgage market and the supply of subprime credit in the primary mortgage market.

    خصائص المنتج:
    • الفئات: سياسة
    • غلاف الكتاب: غلاف عادي
    • لغة الكتاب: الانجليزية
    • الكاتب: Taylor D. Nadauld, Shane M. Sherlund, United States Federal Reserve Board
    • الناشر: Bibliogov
    • رقم ال ISBN: 9781288704910
    • عدد الصفحات: 58
    • لأبعاد (الارتفاع*العرض*العمق): 9.69 x 7.44 x 0.12 inches
 

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