Mortgage Backed Securities: Another Way to Finance Housing
Lawrence J. White
New York University (NYU) - Leonard N. Stern School of Business; Leonard N. Stern School of Business - Department of Economics
NYU Working Paper No. 2451/26128
The introduction of mortgage-backed securities (MBS) as a channel for housing finance is a relatively recent event for the United States, having occurred less than three-and-a-half decades ago. This paper provides a brief overview of the MBS process in the U.S. The paper places the MBS process in the larger contexts of finance in general and housing finance in particular, discusses its special features and its advantages and disadvantages, addresses its special infrastructure requirements, and describes the historical and recent experiences in the U.S.
Number of Pages in PDF File: 27
Keywords: mortgage-backed securities, residential mortgages, housing finance, securitizationworking papers series
Date posted: October 13, 2008
© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo6 in 0.297 seconds