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Among the important catalysts of the subprime crisis were the influx of money from the private sector, the banks entering into the mortgage bond market, government policies aimed at expanding homeownership, speculation by many home buyers, and the predatory lending practices of the mortgage lenders, specifically the adjustable-rate mortgage, 2 ...
The Financial Crisis Inquiry Commission (majority report) concluded in January 2011 that: "...the CRA was not a significant factor in subprime lending or the crisis. Many subprime lenders were not subject to the CRA. Research indicates only 6% of high-cost loans—a proxy for subprime loans—had any connection to the law.
The majority of these were prime loans. Sub-prime loans made by CRA-covered institutions constituted a 3% market share of LMI loans in 1998, [279] but in the run-up to the crisis, fully 25% of all subprime lending occurred at CRA-covered institutions and another 25% of subprime loans had some connection with CRA. [280]
Fannie Mae's involvement in the subprime market was "minimal," he said, consisting primarily of purchasing AAA-rated private-label securities backed by subprime loans, which contributed to its ...
Andrews (right), an economics reporter for the New York Times, was covering the market meltdown as a journalist -- and, to his dismay, living the meltdown at home. Turns out all the economic ...
October 15–17: A consortium of U.S. banks backed by the U.S. government announces a "super fund" of $100 billion to purchase mortgage-backed securities whose mark-to-market value plummeted in the subprime collapse. [183]
Office is the most prominent sign of a struggling commercial real estate market. The commercial real estate collapse has been most evident in the office sector, with vacancy rates at nearly 1.5 ...
The government interventions during the subprime mortgage crisis were a response to the 2007–2009 subprime mortgage crisis and resulted in a variety of government bailouts that were implemented to stabilize the financial system during late 2007 and early 2008.