In this paper, we provide an overview of the subprime mortgage securitization process and the seven key informational … Century Financial during 2006. -- Subprime mortgage credit ; securitization ; rating agencies ; principal agent ; moral hazard … predatory borrowing and predatory lending. We present the key structural features of a typical subprime securitization, document …

We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making … mortgage-related risks internationally tradeable, securitization contributes considerably to better international consumption … countries that do not allow for mortgage securitization. Our results are based on quarterly data from a panel of 16 …