Securitization is a financial innovation that experiences a boom-bust cycle, as many other innovations before. This … paper analyzes possible reasons for the breakdown of primary and secondary securitization markets, and argues that … prevention rather than crisis management, and the objective is to restore a comprehensive incentive alignmentʺ. The toe-hold for …

Structured finance instruments represent a form of securitization technology which can be defined by the … securitization, in order to identify the economic forces underlying the creation of SF instruments. A question addressed is under … what circumstances one would expect to observe pooling alone (as with traditional securitization) versus pooling and …

repurchase agreements, money market mutual funds, and securitization. Despite significant efforts by lawmakers, regulators, and …

In this paper, we provide an overview of the subprime mortgage securitization process and the seven key informational … predatory borrowing and predatory lending. We present the key structural features of a typical subprime securitization, document … performance of mortgage pools over time. Throughout the paper, we draw upon the example of a mortgage pool securitized by New …

The agency conflicts inherent in securitization are viewed by many as having been a key contributor to the recent … research for the U.S. home mortgage market suggests that securitization itself may not have been a problem, but rather the …