Understanding the Securitization of Subprime Mortgage Credit

Understanding the Securitization of Subprime Mortgage Credit

Author: Adam B. Ashcraft

Publisher: DIANE Publishing

Published: 2010-03

Total Pages: 76

ISBN-13: 1437925146

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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.


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:

Published: 2010

Total Pages: 228

ISBN-13:

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New Facets of Economic Complexity in Modern Financial Markets

New Facets of Economic Complexity in Modern Financial Markets

Author: Catherine Kyrtsou

Publisher: Routledge

Published: 2020-06-04

Total Pages: 273

ISBN-13: 042958394X

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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.


Handbook of Finance and Development

Handbook of Finance and Development

Author: Thorsten Beck

Publisher: Edward Elgar Publishing

Published: 2018-07-27

Total Pages: 615

ISBN-13: 1785360515

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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.


The Oxford Handbook of Banking

The Oxford Handbook of Banking

Author: Allen N. Berger

Publisher: Oxford University Press

Published: 2019-10-31

Total Pages: 1309

ISBN-13: 0192558072

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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

Published: 2010-07-07

Total Pages: 347

ISBN-13: 0857242059

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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

Published: 2013-03-29

Total Pages: 175

ISBN-13: 1849351279

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"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.


The Fullness of Time in a Flat World

The Fullness of Time in a Flat World

Author: Scott Waalkes

Publisher: Wipf and Stock Publishers

Published: 2010-01-01

Total Pages: 353

ISBN-13: 162189052X

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Best-selling author Thomas Friedman says that globalization has made the world flat and that we cannot stop the process. But while it is right to say that globalization tends to flatten our world, it is wrong to say that there are no alternatives to current patterns of economic, ecological, political, and cultural integration. This book argues that the Christian liturgical calendar provides a constructive alternative to the globalization of economics, ecologies, politics, and cultures. It does so by incorporating the church into the fullness of time in the gospel narrative, thereby helping us escape from the dead end of Friedman's flat world so that we can improvise healthier ways of being globally integrated.


Report to Congress on the Root Causes of the Foreclosure Crisis

Report to Congress on the Root Causes of the Foreclosure Crisis

Author: Christopher E. Herbert

Publisher: DIANE Publishing

Published: 2010-06

Total Pages: 83

ISBN-13: 1437929273

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Analyzes data and trends in the residential housing market and reviews the academic lit. and industry press on the root causes of the current foreclosure crisis (FC). Provides a review of policy responses and recommended actions to mitigate the FC and help prevent similar crises from occurring in the future. Contents: (1) Trends in Delinquencies and Foreclosures: Regional Trends in Foreclosures; (2) Lit. Review: General Lit. on Causes of Foreclosures and Delinquencies; Lit. Assessing Causes of the Current FC; Factors Enabling Expanded Risky Lending; (3) Policy Responses to the FC: Efforts To Address Rising Foreclosures; Efforts To Reduce the Risk of High Rates of Mortgage Foreclosures in the Future; Mortgage Market Reform. Illus.