Mayer, Christopher J.; Pence, Karen M.; Sherlund, Shane M. - 2008
over the 2003–2007 period were so-called “short-term hybrids,” shown in Panel A of Table 2. In
this type of mortgage, the … not especially low: throughout the
2003–2007 period, the initial teaser rate for short-term hybrids hovered in the range … Amortization Features
Over the 2003–2007 period, originators of nonprime mortgages increasingly designed
and promoted products …