Mortgage Backed Securities: Another Way to Finance Housing

27 Pages Posted: 13 Oct 2008  

Lawrence J. White

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

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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

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

Lawrence J. White (Contact Author)

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

44 West 4th Street
New York, NY NY 10012
United States

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