LEADER 04454nam 2200781 a 450 001 9910788578703321 005 20200520144314.0 010 $a1-283-89688-5 010 $a0-8122-0430-1 024 7 $a10.9783/9780812204308 035 $a(CKB)3240000000064686 035 $a(EBL)3441736 035 $a(SSID)ssj0000606191 035 $a(PQKBManifestationID)11357156 035 $a(PQKBTitleCode)TC0000606191 035 $a(PQKBWorkID)10582240 035 $a(PQKB)10042562 035 $a(OCoLC)793012556 035 $a(MdBmJHUP)muse8298 035 $a(DE-B1597)449380 035 $a(OCoLC)1013948901 035 $a(OCoLC)979753967 035 $a(DE-B1597)9780812204308 035 $a(Au-PeEL)EBL3441736 035 $a(CaPaEBR)ebr10641571 035 $a(CaONFJC)MIL420938 035 $a(MiAaPQ)EBC3441736 035 $a(EXLCZ)993240000000064686 100 $a20110314d2011 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 04$aThe American mortgage system$b[electronic resource] $ecrisis and reform /$fedited by Susan M. Wachter and Marvin M. Smith 205 $a1st ed. 210 $aPhiladelphia $cUniversity of Pennsylvania Press$dc2011 215 $a1 online resource (400 p.) 225 1 $aCity in the twenty-first century 300 $aDescription based upon print version of record. 311 $a0-8122-2327-6 311 $a0-8122-4351-X 320 $aIncludes bibliographical references and index. 327 $apt. 1. Crisis : origins and solutions -- pt. 2. Community impact -- pt. 3. Reforming the financial architecture. 330 $aSuccessful home ownership requires the availability of appropriate mortgage products. In the years leading up to the collapse of the housing market, home buyers frequently accepted mortgages that were not only wrong for them but catastrophic for the economy as a whole. When the housing market bubble burst, so did a cornerstone of the American dream for many families. Restoring the promise of this dream requires an unflinching inspection of lending institutions and the right tools to repair the structures that support solid home purchases. The American Mortgage System: Crisis and Reform focuses on the causes of the housing market collapse and proposes solutions to prevent another rash of foreclosures.Edited by two leaders in the field of real estate and finance, Susan M. Wachter and Marvin M. Smith, The American Mortgage System examines key elements of the mortgage meltdown. The volume's contributors address the influence of the Community Reinvestment Act, which is often blamed for the crisis. They uncover how the government-sponsored enterprises Fannie Mae and Freddie Mac invested outside the housing market with disastrous results. They present surprising information about low-income borrowers and the strengths of local banks. This collection of thoughtful studies includes extensive analysis of loan practices and the creation of unstable mortgage securities, presenting data largely unavailable until now. More than a critique, The American Mortgage System offers solutions to the problems facing the future of American home ownership, including identifying asset price bubbles, calculating risk, and preventing discrimination in lending.Measured yet timely and by turns provocative, The American Mortgage System provides a careful assessment of a troubled but indispensable part of the economic and social structure of the United States. This book is a sound investment for economists, urban planners, and all who shape public policy. 410 0$aCity in the twenty-first century book series. 606 $aMortgage loans$zUnited States 606 $aSubprime mortgage loans$zUnited States 606 $aSecondary mortgage market$zUnited States 606 $aFinancial crises$zUnited States 610 $aBusiness. 610 $aEconomics. 610 $aPolitical Science. 610 $aPublic Policy. 615 0$aMortgage loans 615 0$aSubprime mortgage loans 615 0$aSecondary mortgage market 615 0$aFinancial crises 676 $a332.7/20973 701 $aWachter$b Susan M$0321551 701 $aSmith$b Marvin M$013187 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910788578703321 996 $aThe American mortgage system$93751922 997 $aUNINA