In 2007 the world faced one of the biggest financial crises ever. It was the third important financial crisis in the … theoretical models and a survey of institutions involved in securitization. With the conclusions of this analysis we evaluate the …

regulatory reform. The analysis ascribes the crisis not only to problems in subprime mortgage lending and securitization, but … and securitization, focusing on problems of security design and governance, and lack of external discipline from rating …. Among systemic flaws, the paper discusses governance problems in mortgage origination and securitization as well as banking …

securitization or if they choose vertical slice retention instead of retaining the equity tranche. Moreover, the relevance of credit …