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The American mortgage system : crisis and reform / / edited by Susan M. Wachter and Marvin M. Smith



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Titolo: The American mortgage system : crisis and reform / / edited by Susan M. Wachter and Marvin M. Smith Visualizza cluster
Pubblicazione: Philadelphia, : University of Pennsylvania Press, c2011
Edizione: 1st ed.
Descrizione fisica: 1 online resource (400 p.)
Disciplina: 332.7/20973
Soggetto topico: Mortgage loans - United States
Subprime mortgage loans - United States
Secondary mortgage market - United States
Financial crises - United States
Soggetto non controllato: Business
Economics
Political Science
Public Policy
Altri autori: WachterSusan M  
SmithMarvin M  
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references and index.
Nota di contenuto: pt. 1. Crisis : origins and solutions -- pt. 2. Community impact -- pt. 3. Reforming the financial architecture.
Sommario/riassunto: Successful 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.
Titolo autorizzato: The American mortgage system  Visualizza cluster
ISBN: 1-283-89688-5
0-8122-0430-1
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910822613203321
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Serie: City in the twenty-first century book series.