Price Revelation and Efficient Mortgage Markets
7 Pages Posted: 2 Dec 2009
Date Written: December 1, 2009
Over the past decade, the growth of the secondary market has produced an increased differentiation in the pricing of available capital for mortgage lending, as well as in the brokers and lenders involved in the distribution of mortgages. A major outcome of this shift is the emergence of subprime lenders. This paper provides commentary on the views of price revelation and efficient mortgage markets.
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