عنوان

The rise and fall of the U.S. mortgage and credit markets :

(Number (ISBN

9780470477243

Number

dltt

Title Proper

The rise and fall of the U.S. mortgage and credit markets :

General Material Designation

[Book]

Other Title Information

a comprehensive analysis of the market meltdown /

First Statement of Responsibility

James R. Barth ... [et al.]

Place of Publication, Distribution, etc.

Hoboken, NJ :

Name of Publisher, Distributor, etc.

J. Wiley & Sons,

Date of Publication, Distribution, etc.

c2009

Specific Material Designation and Extent of Item

xxxiii, 526 p. :

Other Physical Details

ill. ;

Dimensions

24 cm

Text of Note

Includes bibliographical references (p. 479-505) and index

Text of Note

1. Overleveraged, from Main Street to Wall Street -- 2. Overview of the housing and mortgage markets : Housing units, mortgage debt, and household wealth ; Types of home mortgages ; Two housing finance models: Originate-to-hold vs. originate-to-distribute ; Low interest rates contribute to credit boom and record homeownership rates ; Mortgage originations, home prices and sale skyrocket -- 3. Buildup and meltdown of the mortgage and credit markets : What is a subprime mortgage and who is a subprime borrower? ; Subprime lending grows rapidly and new products gain acceptance ; Subprime mortgages enable more widespread homeownership ; Securitization facilitates the funding of subprime mortgages ; The housing bubble reaches the breaking point ; The collapse begins -- 4. When will the crisis end? : What is the damage scorecard to date? ; The pain spreads throughout the financial sector and beyond ; When will we hit bottom? -- What went wrong ...? : With origination practices and new financial products? ; With leverage and accounting practices? ; With Fannie Mae and Freddie Mac? ; With tax benefits for homeownership? ; With regulation and supervision? ; With the greed factor? ; Assessing the role of various factors to explain foreclosures -- So far, only piecemeal fixes : The landscape shifts for lenders ; The Federal Reserve intervenes to provide liquidity and higher-quality collateral ; Congress and the White House take steps to contain the damage ; The FDIC takes steps to instill greater confidence in depository institutions ; The government actions drive up deficit -- Where should we go from here? : Key factors that should drive reform ; Issues for policymakers ; Concluding thoughts -- Glossary.

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Text of Note

The mortgage meltdown: what went wrong and how do we fix it? Owning a home can bestow a sense of security and independence. But today, in a cruel twist, many Americans now regard their homes as a source of worry and dashed expectations. How did everything go haywire? And what can we do about it now? In The Rise and Fall of the U.S. Mortgage and Credit Markets, renowned finance expert James Barth offers a comprehensive examination of the mortgage meltdown. Together with a team of economists at the Milken Institute, he explores the shock waves that have rippled through the entire financial sector and the real economy. Deploying an incredibly detailed and extensive set of data, the book offers in-depth analysis of the mortgage meltdown and the resulting worldwide financial crisis. This authoritative volume explores what went wrong in every critical area, including securitization, loan origination practices, regulation and supervision, Fannie Mae and Freddie Mac, leverage and accounting practices, and of course, the rating agencies. The authors explain the steps the government has taken to address the crisis thus far, arguing that we have yet to address the larger issues. Offers a comprehensive examination of the mortgage market meltdown and its reverberations throughout the financial sector and the real economy Explores several important issues that policymakers must address in any future reshaping of financial market regulations Addresses how we can begin to move forward and prevent similar crises from shaking the foundations of our financial system The Rise and Fall of the U.S. Mortgage and Credit Markets analyzes the factors that should drive reform and explores the issues that policymakers must confront in any future reshaping of financial market regulations.

Credit-- United States

Financial crises-- United States

Global Financial Crisis 2008-2009

Mortgage loans-- United States

United States, Economic conditions, 2001-2009

0

Barth, James R.

Date of Transaction

20091221114552.3

Electronic name

[Book]

Y