This paper draws lessons from international practices to determine the feasibility of developing mortgage …-backed securitization (MBS) to expand housing finance to the underserved market in the country. Despite the risks of securitization, as … facilitate and promote housing finance. The international best practices show that efficient securitization can be established …

We document the emergence of a disconnect between mortgage and Treasury interest rates in the summer of 2003. Following … the end of the Federal Reserve expansionary cycle in June 2003, mortgage rates failed to rise according to their … historical relationship with Treasury yields, leading to significantly and persistently easier mortgage credit conditions. We …

We document the emergence of a disconnect between mortgage and Treasury interest rates in the summer of 2003. Following … the end of the Federal Reserve's expansionary cycle in June 2003, mortgage rates failed to rise according to their … historical relationship with Treasury yields, leading to significantly and persistently easier mortgage credit conditions. We …