Mortgage Backed Securities: Another Way to Finance Housing

White, Lawrence J.

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Mortgage Backed Securities: Another Way to Finance Housing

NYU Working Paper No. 2451/26128

27 Pages Posted: 13 Oct 2008

See all articles by Lawrence J. White

Lawrence J. White

Stern School of Business, New York University; New York University (NYU) - Leonard N. Stern School of Business, Department of Economics

There are 2 versions of this paper

Date Written: August 2004

Abstract

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.

Keywords: mortgage-backed securities, residential mortgages, housing finance, securitization

Suggested Citation: Suggested Citation

White, Lawrence J. and White, Lawrence J., Mortgage Backed Securities: Another Way to Finance Housing (August 2004). NYU Working Paper No. 2451/26128, Available at SSRN: https://ssrn.com/abstract=1282557