Levitin, Adam; Wachter, Susan - Volkswirtschaftliche Fakultät, … - 2012
: mortgage-finance spreads declined and volume increased, even as risk increased—a confluence attributable only to an oversupply … price risk correctly due to the complexity, opacity, and heterogeneity of the unregulated private-label mortgage … the complexity and heterogeneity of PLS would facilitate accurate risk pricing, which is necessary to rebuild a …