Talk:Subprime mortgage crisis: Difference between revisions

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imported>J. Noel Chiappa
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==Useful article==
This press report from 1999 may be of help: http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1  [[User:Martin Baldwin-Edwards|Martin Baldwin-Edwards]] 08:52, 6 October 2008 (CDT)
This press report from 1999 may be of help: http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1  [[User:Martin Baldwin-Edwards|Martin Baldwin-Edwards]] 08:52, 6 October 2008 (CDT)
: I also found [http://www.sifma.org/services/publications/pdf/an_investors_guide_to_mortgage_securities.pdf this (pdf download)] a good source too. The growth of the mortgage bond market in the 80s is described in Michael Lewis' "Liar's Poker" (Chapter 5). [[User:J. Noel Chiappa|J. Noel Chiappa]] 13:57, 25 October 2008 (UTC)
==Text clarification==
At one the article says:
: ''Bank mortgages came to account for a substantial proportion of a market that had previously been dominated by the government-sponsored agencies (Fannie Mae and Freddie Mac)''
But I'm a little unclear on exactly what's meant here. Does it mean that banks were turning mortgages they held into securities without going through FNMA/FHLMC (either directly themselves, or by selling them to investment banks which did the repackaging), whereas prior to that most such securitization had been performed by FNMA/FHLMC? [[User:J. Noel Chiappa|J. Noel Chiappa]] 13:57, 25 October 2008 (UTC)

Revision as of 07:57, 25 October 2008

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 Definition:  financial crisis arising from defaults on the United States mortgage markets. [d] [e]
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Useful article

This press report from 1999 may be of help: http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1 Martin Baldwin-Edwards 08:52, 6 October 2008 (CDT)

I also found this (pdf download) a good source too. The growth of the mortgage bond market in the 80s is described in Michael Lewis' "Liar's Poker" (Chapter 5). J. Noel Chiappa 13:57, 25 October 2008 (UTC)

Text clarification

At one the article says:

Bank mortgages came to account for a substantial proportion of a market that had previously been dominated by the government-sponsored agencies (Fannie Mae and Freddie Mac)

But I'm a little unclear on exactly what's meant here. Does it mean that banks were turning mortgages they held into securities without going through FNMA/FHLMC (either directly themselves, or by selling them to investment banks which did the repackaging), whereas prior to that most such securitization had been performed by FNMA/FHLMC? J. Noel Chiappa 13:57, 25 October 2008 (UTC)

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