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2. PSA prepayment model - Wikipedia

   en.wikipedia.org/wiki/PSA_prepayment_model

   The standard model (also called "100% PSA") works as follows: Starting with an annualized prepayment rate of 0.2% in month 1, the rate increases by 0.2% each month, until it reaches 6% in month 30. From the 30th month onward, the model assumes an annualized prepayment rate of 6% of the remaining balance. [ 2 ]

3. Loan-to-value ratio - Wikipedia

   en.wikipedia.org/wiki/Loan-to-value_ratio

   A similar property with a value of $100,000 with a first mortgage of $50,000 and a second mortgage of $25,000 has an aggregate mortgage balance of $75,000. The CLTV is 75%. The CLTV is 75%. Combined loan to value is an amount in addition to the Loan to Value, which simply represents the first position mortgage or loan as a percentage of the ...

4. Mortgage industry of the United States - Wikipedia

   en.wikipedia.org/wiki/Mortgage_industry_of_the...

   The growth of lightly regulated derivative instruments based on mortgage-backed securities, such as collateralized debt obligations and credit default swaps, is widely reported as a major causative factor behind the 2007 subprime mortgage financial crisis. As a result of the housing bubble, many banks, including Fannie Mae, established tighter ...

5. Loan modification in the United States - Wikipedia

   en.wikipedia.org/wiki/Loan_modification_in_the...

   The tightening in mortgage credit has placed further downward pressure on home sales and home prices, a situation that now could derail the U.S. economic expansion. [5] Chart 3. Residential mortgage credit quality continues to weaken, with both delinquencies and charge-offs on the rise at FDIC-insured institutions. [6]

6. Fannie Mae - Wikipedia

   en.wikipedia.org/wiki/Fannie_Mae

   The growth of private-label securitization and lack of regulation in this part of the market resulted in the oversupply of underpriced housing finance [35] that led, in 2006, to an increasing number of borrowers, often with poor credit, who were unable to pay their mortgages – particularly with adjustable rate mortgage loans , caused a ...

7. Toxic asset - Wikipedia

   en.wikipedia.org/wiki/Toxic_asset

   "[The 100% loan-to-value subprime loan is] the most dangerous product in existence and there can be nothing more toxic..." (March 28, 2006) Regarding Countrywide's subprime 80/20 loans: "In all my years in the business I have never seen a more toxic product [sic]. It's not only subordinated to the first, but the first is subprime.