US Subprime Mortgage Market (A): Financial Innovation andWelfare Effects
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Code : ECC0028
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Region : US |
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Introduction: Subprime mortgage is a relatively new and rapidly growing segment of themortgage market – extending credit to borrowerswhowould otherwise be denied credit due to their lower credit standards and higher risk of delinquency. Subprime lending provides the opportunity for homeownership to those subject to discrimination and could not qualify for amortgage. In past (in themid 1930s) practices like 'redlining' have denied credit to neighbourhoods with high concentrations of minorities and weaker economic conditions... |
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