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

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.

Chain of Title

Chain of Title
Author: David Dayen
Publisher: The New Press
Total Pages: 417
Release: 2017-12-19
Genre: Business & Economics
ISBN: 1620974185

NOW IN PAPERBACK The "gripping" (New York Times) and "Hitchcockian"(Publishers Weekly) story of how a nurse, a car dealership worker, and a forensic expert took on the nation’s largest banks A Kirkus Reviews and The Week best book of the year, David Dayen’s Chain of Title is a riveting work that recalls A Civil Action, Erin Brockovich, and Flash Boys, recounting how three ordinary Floridians—a car dealership worker, a cancer nurse, and an insurance fraud specialist—helped uncover the largest consumer crime in American history, challenged the most powerful institutions in America, and—for a brief moment—brought the corrupt financial industry to its knees. Lisa Epstein, Michael Redman, and Lynn Szymoniak did not work in government or law enforcement. They had no history of anticorporate activism. Instead they were all foreclosure victims, and while struggling with their shame and isolation they committed a revolutionary act: closely reading their mortgage documents, discovering the deceit behind them, and building a movement to expose it. Harnessing the power of the Internet, they revealed how the financial crisis and subsequent recession were fundamentally based upon a series of frauds that kicked millions out of their homes because of false evidence by mortgage companies that had no legal right to foreclose. As Rolling Stone's Matt Taibbi noted: "Chain of Title is a sweeping work of investigative journalism that traces the arc of a criminally underreported story in America, the collapse of the rule of law in the home mortgage industry."

Housing Finance Reform

Housing Finance Reform
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
Total Pages: 120
Release: 2014
Genre: Housing
ISBN:

New Facets of Economic Complexity in Modern Financial Markets

New Facets of Economic Complexity in Modern Financial Markets
Author: Catherine Kyrtsou
Publisher: Routledge
Total Pages: 260
Release: 2020-06-04
Genre: Business & Economics
ISBN: 0429582048

The book is motivated by the disruptions introduced by the financial crisis and the many attempts that have followed to propose new ideas and remedies. Assembling contributions by authors from a variety of backgrounds, this collection illustrates the potentials resulting from the marriage of financial economics, complexity theory and an out-of-equilibrium view of the economic world. Challenging the traditional hypotheses that lie behind financial market functioning, new evidence is provided about the hidden factors fuelling bubbles, the impact of agents’ heterogeneity, the importance of endogeneity in the information transmission mechanism, the dynamics of herding, the sources of volatility, the portfolio optimization techniques, the financial innovation and the trend identification in a nonlinear time-series framework. Presenting the advances made in financial market analysis, and putting emphasis on nonlinear dynamics, this book suggests interdisciplinary methodologies for the study of well-known stylised facts and financial abnormalities. This book was originally published as a special issue of The European Journal of Finance.

Transparency in Accounting

Transparency in Accounting
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment
Publisher:
Total Pages: 228
Release: 2010
Genre: Asset-backed financing
ISBN:

Handbook of Finance and Development

Handbook of Finance and Development
Author: Thorsten Beck
Publisher: Edward Elgar Publishing
Total Pages: 615
Release: 2018-07-27
Genre: Business & Economics
ISBN: 1785360515

This Handbook provides a comprehensive overview of the relationship between financial and real sector development. The different chapters, written by leading contributors in the field, survey research on the importance of financial development for economic growth, the causes and consequences of financial fragility, the historic development of financial systems in several major economies and regions of the world, and the regulatory and supervisory underpinnings of financial sector development.

Unravelling the Credit Crunch

Unravelling the Credit Crunch
Author: David Murphy
Publisher: CRC Press
Total Pages: 330
Release: 2009-06-08
Genre: Business & Economics
ISBN: 9781439802595

Fascinating Insight into How the Financial System Works and How the Credit Crisis AroseClearly supplies details vital to understanding the crisis Unravelling the Credit Crunch provides a clearly written, comprehensive account of the current credit crisis that is easily understandable to non-specialists. It explains how the financial system was draw

The Oxford Handbook of Banking

The Oxford Handbook of Banking
Author: Allen N. Berger
Publisher: Oxford University Press
Total Pages: 1328
Release: 2019-10-31
Genre: Business & Economics
ISBN: 0192558072

The Oxford Handbook of Banking, Third Edition provides an overview and analysis of developments and research in this rapidly evolving field. Aimed at graduate students of economics, banking, and finance; academics; practitioners; regulators; and policy makers, it strikes a balance between abstract theory, empirical analysis, and practitioner and policy-related material. Split into five distinct parts The Oxford Handbook of Banking is a one-stop source of relevant research in banking. It examines the theory of banking, bank operations and performance, regulatory and policy perspectives, macroeconomic perspectives in banking, and international differences in banking structures and environments. Taking a global perspective it examines banking systems in the United States, China, Japan, Australia and New Zealand, Africa, the European Union, transition countries of Europe, and Latin America. Thematic issues covered include financial innovation and technological change; consumer and mortgage lending; Islamic banking; and how banks influence real economic activity. Fully revised and now including brand new chapters on a range of geographical regions, bank bailouts and bail-ins, and behavioral economics amongst many other topics, this third edition of The Oxford Handbook of Banking provides readers with insights to seminal and contemporary research in banking and an opportunity to learn about the diversity of financial systems around the world.

Markets On Trial

Markets On Trial
Author: Michael Lounsbury
Publisher: Emerald Group Publishing
Total Pages: 347
Release: 2010-07-07
Genre: Social Science
ISBN: 0857242059

Since the mid-20th century, organizational theorists have increasingly distanced themselves from the study of core societal power centers and important policy issues of the day. This title addresses the global financial crisis debates.

Disassembly Required

Disassembly Required
Author: Geoff Mann
Publisher: AK Press
Total Pages: 175
Release: 2013-03-29
Genre: Business & Economics
ISBN: 1849351279

"Geoff Mann is a new breed of monkey-wrencher. He knows that contemporary capitalism has a perverse habit of dismantling itself and gives us a toolkit to build a new, more socially just edifice."—Andy Merrifield, Magical Marxism "Insightful and incisive, thoughtful and thorough, filled with new avenues for thinking about resistence. Pass this one by at your own peril."—Matt Hern, Common Ground in a Liquid City To imagine how we might change capitalism, we first need to understand it. To succeed in actually changing it, we need to be able to explain how it works and convince others that change is both possible and necessary. Disassembly Required is an attempt to meet those challenges, and to offer clear, accessible alternatives to the status quo of everyday capitalism. Originally crafted as a comprehensive overview for younger readers, Geoff Mann's explanation of the fundamental features of contemporary capitalism is illustrated with real-world examples?an ideal introduction for anyone wanting to learn more about what capitalism is and where it falls short. What emerges is an anti-capitalist critique that fully understands the complex, dynamic, robust organizational machine of modern economic life, digging deep into the details of capitalist institutions and the relations that justify them to unearth the politically indefensible and ecologically unsustainable premises that underlie them. Geoff Mann teaches political economy and economic geography at Simon Fraser University, where he directs the Centre for Global Political Economy. He is the author of Our Daily Bread: Wages, Workers and the Political Economy of the American West (2007) and a frequent contributor to Historical Materialism and New Left Review.