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Rise and Fall of the US Mortgage and Credit Markets A Comprehensive Analysis of the Market Meltdown

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ISBN-10: 0470477245

ISBN-13: 9780470477243

Edition: 2009

Authors: James Barth, Tong Li, Wenling Lu, Triphon Phumiwasana, Glenn Yago

List price: $60.00
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The Rise and Fall of the US Mortage and Credit Markets offers a comprehensive examination of the mortgage market meltdown and the resulting impact on the financial sector of the economy. Using extensive data, the book provides an insightful and detailed look at the housing, mortgage and credit market. In addition, the book examines financial innovations, particularly securitization, and the impact on the financial crisis here. The book offers a view of the Administration's proposals to address the problems and how a similar crisis can be avoided. In addition, the author will compare the restructuring proposals of the US government to steps taken in other countries in both Europe and Asia.
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Book details

List price: $60.00
Copyright year: 2009
Publisher: John Wiley & Sons, Incorporated
Publication date: 5/4/2009
Binding: Hardcover
Pages: 562
Size: 6.30" wide x 9.25" long x 1.75" tall
Weight: 1.826
Language: English

James R. Barth is a Senior Fellow at the Milken Institute and the Lowder Eminent Scholar in Finance at Auburn University. His research focuses on financial institutions and capital markets, both domestic and global, with special emphasis on regulatory issues. Barth was an appointee of Presidents Ronald Reagan and George H.W. Bush as chief economist of the Federal Home Loan Bank Board and later of the Office of Thrift Supervision. He has authored more than 200 articles in professional journals and has written and edited several books, including The Great Savings and Loan Debacle, The Reform of Federal Deposit Insurance, and Rethinking Bank Regulation: Till Angels Govern. Barth has been…    

List of Illustrations
List of Tables
Overleveraged, from Main Street to Wall Street
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 Sales Skyrocket
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
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 Securitization and Rating Agencies?
...with Leverage and Accounting Practices?
...with Fannie Mae and Freddie Mac?
...with Tax Benefits for Homeownerships?
...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's Actions Drive up the Deficit
Where Should We Go from Here?
Key Factors That Should Drive Reform
Issues for Policymakers
Concluding Thoughts
About the Milken Institute and General Disclaimer
About the Authors