文章基本信息

标题：Securitization and the Subprime Mortgage Crisis of 2007-2008
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作者：Job Omagwa ; Robert Odunga
期刊名称：Research Journal of Finance and Accounting
印刷版ISSN：2222-1697
出版年度：2016
卷号：7
期号：10
页码：109-115
语种：English
出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：The paper reviews literature on securitization process in real estate markets and an analysis of the subprime mortgage market crisis of 2007-2008. In particular, it presents a highlight of the various market participants in the securitization process and an overview of securitized transactions in the US secondary mortgage market. The paper further presents a highlight of financial malpractices precipitating the subprime mortgage crisis and the associated financial implications of the same. In addition, the paper identifies the institutions and participants in the subprime mortgage crisis securitized transactions leading to the housing market debacle. The paper further explores the creation of ABS and CDOs as an outcome of securitization and a review of empirical literature on financial implications associated with the abuse of securitized transactions in the US mortgage market.
其他摘要：The paper reviews literature on securitization process in real estate markets and an analysis of the subprime mortgage market crisis of 2007-2008. In particular, it presents a highlight of the various market participants in the securitization process and an overview of securitized transactions in the US secondary mortgage market. The paper further presents a highlight of financial malpractices precipitating the subprime mortgage crisis and the associated financial implications of the same. In addition, the paper identifies the institutions and participants in the subprime mortgage crisis securitized transactions leading to the housing market debacle. The paper further explores the creation of ABS and CDOs as an outcome of securitization and a review of empirical literature on financial implications associated with the abuse of securitized transactions in the US mortgage market. Key Words: Securitization, Asset-Backed Securities, Special-Purpose Vehicles/Entities, Credit enhancement and Conduit Lending.