27 Pages Posted: 13 Oct 2008
Date Written: August 2004
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., Mortgage Backed Securities: Another Way to Finance Housing (August 2004). NYU Working Paper No. EC-04-14. Available at SSRN: https://ssrn.com/abstract=1282557
By S. Passmore