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“Toxic waste” refers to the riskiest derivative structures arising from collateralized mortgage obligations (CMOs). We use simulations to predict how this risk would manifest itself in various interest rate environments. We also look for evidence on the total dollar value of these...
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During the last few years, activity in the U.S. housing market has been brisk, and mortgage credit has reached an ever wider circle of borrowers. A recent conference at the Chicago Fed assembled researchers, regulators, and practitioners to discuss the implications of these developments, both...
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Governor Kroszner presented identical remarks at the Symposium on Housing Affordability, Washington, D.C., on November 5, 2007
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Governor Kroszner presented identical remarks at the Symposium on Housing Affordability, Washington, D.C., on November 5, 2007
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Nontraditonal mortgages offer potential benefits for home buyers in strong, stable housing markets. Various payment … capacity to buy using conventional financing. These mortgages typically feature lower initial monthly payments, or the option … to make lower payments for some period, compared with traditional fixed or adjustable rate mortgages. However, these …
Persistent link: https://www.econbiz.de/10010726819
President Pianalto began by sharing her views on how financial innovation has reshaped the mortgage market over the past few decades. She spoke about the promises and pitfalls of that innovation and about how the current situation in the mortgage market has unfolded. Finally, she described ideas...
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