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Mortgages

Bar-Gill Oren

in Seduction by Contract: Law, Economics, and Psychology in Consumer Markets

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199663361
eISBN:
9780191751660
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199663361.003.0004
Subject:
Law, Company and Commercial Law

This chapter examines the subprime mortgage contract and its central design features. It shows that for many borrowers these contractual design features were not welfare maximizing. In fact, to the ... More


Postscriptum: The 2007/8 Subprime Mortgage Crisis and Banking Regulation

Andreas Busch

in Banking Regulation and Globalization

Published in print:
2008
Published Online:
January 2009
ISBN:
9780199218813
eISBN:
9780191711763
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199218813.003.0009
Subject:
Political Science, International Relations and Politics, Political Economy

This chapter discusses the subprime mortgage crisis in the United States. Topics covered include the manifestation of the crisis, causes of the crisis, and the potential consequences of the crisis ... More


Epilogue: Sustainable International Development after the Subprime Crisis

Markus Venzin

in Building an International Financial Services Firm: How Successful Firms Design and Execute Cross-Border Strategies

Published in print:
2009
Published Online:
October 2011
ISBN:
9780199535200
eISBN:
9780191701153
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199535200.003.0013
Subject:
Business and Management, Finance, Accounting, and Banking, Strategy

This chapter discusses the impact of the subprime crisis on the international strategies of financial services firms. Many mostly passive investors from emerging economies will get the opportunity to ... More


The Subprime Mortgage Crisis

Anthony B. Sanders

in Public Real Estate Markets and Investments

Published in print:
2014
Published Online:
September 2014
ISBN:
9780199993277
eISBN:
9780199395767
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199993277.003.0010
Subject:
Economics and Finance, Financial Economics

The subprime mortgage crisis was a confluence of a burst of the housing bubble and rising unemployment resulting partly from extraordinary intervention by the government in terms of encouraging ... More


It's Not Over: Structural Drivers of the Global Economic Crisis

Rohit

Published in print:
2013
Published Online:
January 2013
ISBN:
9780198088417
eISBN:
9780199082292
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198088417.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Why is the world economy in such turmoil? This is a question which has implications not just for the economics discipline but also the lives of millions of working people across the world. That it ... More


Public Real Estate Markets and Investments

H. Kent Baker and Peter Chinloy (eds)

Published in print:
2014
Published Online:
September 2014
ISBN:
9780199993277
eISBN:
9780199395767
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199993277.001.0001
Subject:
Economics and Finance, Financial Economics

Real estate is typically classified as an alternative investment to more traditional assets such as stocks and bonds. Real estate investing involves the purchase, ownership, management, rental, or ... More


Financial Crisis: Global Regulatory Reaction

Garcia Alcubilla and Ruiz del Pozo

in Credit Rating Agencies on the Watch List: Analysis of European Regulation

Published in print:
2012
Published Online:
May 2012
ISBN:
9780199608867
eISBN:
9780191739125
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199608867.003.0002
Subject:
Economics and Finance, Financial Economics, Macro- and Monetary Economics

Rating agencies were in the spotlight again as a result of the US subprime crisis that started during the summer of 2007 and that highlighted the systemic relevance of the agencies in financial ... More


Impact of the Credit Crisis on Mortgage-Backed Securities

Andrew S. Carron, Anne Gron, and Thomas Schopflocher

in The Handbook of Mortgage-Backed Securities: 7th Edition

Published in print:
2016
Published Online:
October 2016
ISBN:
9780198785774
eISBN:
9780191827594
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198785774.003.0005
Subject:
Economics and Finance, Financial Economics, Macro- and Monetary Economics

This chapter examines the subprime crisis of 2007 and the larger credit crisis which adversely affected residential mortgage-backed securities (RMBS), particularly those backed by mortgages of lower ... More


The Debt Effect

Rohit

in It's Not Over: Structural Drivers of the Global Economic Crisis

Published in print:
2013
Published Online:
January 2013
ISBN:
9780198088417
eISBN:
9780199082292
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198088417.003.0006
Subject:
Economics and Finance, Macro- and Monetary Economics

Chapter 6 studies the path of an economy where consumption of the workers is not limited by their wage income. They can take debt to finance it. Allowing for debt-driven consumption of the workers ... More


Prelude to the Storm

Kathleen C. Engel and Patricia A. McCoy

in The Subprime Virus: Reckless Credit, Regulatory Failure, and Next Steps

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195388824
eISBN:
9780190258535
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195388824.003.0004
Subject:
Business and Management, Political Economy

This chapter describes the events leading up to the subprime crisis. These include the bankruptcy of two large subprime lenders in December 2006: Ownit Mortgage Solutions in California, and Sebring ... More


Euphoria: 2003 to 2007

André Orléan

in The Empire of Value: A New Foundation for Economics

Published in print:
2014
Published Online:
January 2015
ISBN:
9780262026970
eISBN:
9780262323901
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262026970.003.0009
Subject:
Economics and Finance, Financial Economics

The subprime mortgage crisis of 2007-2008 is chosen as a case study against which the model of self-referential finance can be tested.. The crisis had its origin in a real-estate bubble that was fed ... More


Herd Behaviour and Third Party Impact as a Legal Concept: On Tulips, Pyramid Games, and Asset-backed Securities

Hans-W. Micklitz

in Contract Governance: Dimensions in Law and Interdisciplinary Research

Published in print:
2015
Published Online:
September 2015
ISBN:
9780198723202
eISBN:
9780191790294
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198723202.003.0006
Subject:
Law, Company and Commercial Law, Comparative Law

In referring to herding in markets (with reference to tulips, pyramid games and asset-back-securities), this chapter uses findings from behavioural economics in order to elaborate possible legal ... More


Mortgages and Mortgage‐backed Securities

Claus Munk

in Fixed Income Modelling

Published in print:
2011
Published Online:
September 2011
ISBN:
9780199575084
eISBN:
9780191728648
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199575084.003.0014
Subject:
Economics and Finance, Financial Economics

In many countries, a mortgage is the standard way of financing the purchase of residential property, and mortgages are often financed by the issuance of bonds. This chapter focuses on the valuation ... More


Lender Incentives, Credit Risk, and Securitization: Evidence from the Subprime Mortgage Crisis

Amir Sufi

in A Debtor World: Interdisciplinary Perspectives on Debt

Published in print:
2012
Published Online:
January 2013
ISBN:
9780199873722
eISBN:
9780199980000
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199873722.003.0004
Subject:
Law, Company and Commercial Law

This chapter focuses on the tension between the preservation of lender incentives and shedding credit risk. It addresses this issue in three steps. First, it discusses foundational theories of ... More


Integrating the Economic Accounts: Lessons from the Crisis

Barry Bosworth

in Measuring Wealth and Financial Intermediation and Their Links to the Real Economy

Published in print:
2015
Published Online:
September 2015
ISBN:
9780226204260
eISBN:
9780226204437
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226204437.003.0001
Subject:
Economics and Finance, Economic Systems

The 2008-09 financial crisis was not primarily a consequence of a lack of information about financials market activities. Rather, it reflected an analytical failure to draw the appropriate ... More


Forecasting as Valuation: The Role of Ratings and Predictions in the Subprime Mortgage Crisis in the United States

Akos Rona-Tas and Stefanie Hiss

in The Worth of Goods: Valuation and Pricing in the Economy

Published in print:
2011
Published Online:
April 2015
ISBN:
9780199594641
eISBN:
9780191806766
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199594641.003.0010
Subject:
Business and Management, Finance, Accounting, and Banking

This chapter examines the forecasting activities of consumer and corporate rating agencies as price anchoring on credit markets. Focusing on the subprime mortgage crisis in the United States, it ... More


Epilogue: Summary and Concluding Thoughts on the Subprime Crisis

Holmström Bengt and Tirole Jean

in Inside and Outside Liquidity

Published in print:
2011
Published Online:
August 2013
ISBN:
9780262015783
eISBN:
9780262295536
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262015783.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter presents some reflections on what the implications liquidity management have in the face of a subprime crisis. It then summarizes the main insights and themes of the book. It moves on to ... More


Consuming Passions, Wasted Efforts: Michael Jackson’s Financial(-ized) Melodramas

Judith Hamera

in Unfinished Business: Michael Jackson, Detroit, and the Figural Economy of American Deindustrialization

Published in print:
2017
Published Online:
November 2017
ISBN:
9780199348589
eISBN:
9780199348619
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780199348589.003.0003
Subject:
Music, Popular, Dance

This chapter examines Michael Jackson’s fiscal travails from 2002 to the release of This Is It in 2010, reading coverage of his consumption, debt, and attempts at recovery as racialized public ... More


7 Regulation of Business and the Flight from Accountability at Home and Abroad

Peter Margulies

in Law's Detour: Justice Displaced in the Bush Administration

Published in print:
2010
Published Online:
March 2016
ISBN:
9780814795590
eISBN:
9780814759608
Item type:
chapter
Publisher:
NYU Press
DOI:
10.18574/nyu/9780814795590.003.0015
Subject:
Law, Constitutional and Administrative Law

This chapter examines the Bush administration's legal detours in the regulation of business and how it evaded accountability both at home and abroad. It first considers the Bush administration's use ... More


Regulation of Business and the Flight from Accountability at Home and Abroad

Peter Margulies

in Law's Detour: Justice Displaced in the Bush Administration

Published in print:
2010
Published Online:
March 2016
ISBN:
9780814795590
eISBN:
9780814759608
Item type:
chapter
Publisher:
NYU Press
DOI:
10.18574/nyu/9780814795590.003.0015
Subject:
Law, Constitutional and Administrative Law

This chapter examines the Bush administration's legal detours in the regulation of business and how it evaded accountability both at home and abroad. It first considers the Bush administration's use ... More


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