It seems like only yesterday that virtually everyone thought mortgage-backed securities were evil. After all, the securities – backed by mortgages including subprime home loans – helped put the country’s largest banks on the brink and the global economy into a dizzying downward spiral after the housing bust started. In the years leading up to the financial crisis, as credit boomed in tandem with home sales, Wall Street shored up on mortgage-backed securities. At the time, at least, it was almost easy to see the appeal of betting on securities whose values depended on mortgage payments and housing prices. But when things went awry, these securities were akin to the plague – not just for Wall Street who reported big losses, but the folks on Main Street who linked the complex financial instruments with their economic woes.
What’s hot for 2011: Mortgage-backed securities?
Most Popular Articles
Latest Articles
Home sales are tepid, but mortgage fraud is becoming more common
New data shows that mortgage fraud is on the rise — an eye-opening trend as loan application volumes remain relatively quiet.
-
Utah-based Realtor association no longer enforcing NAR’s Clear Cooperation
-
Citadel agrees to pay $6.5M to settle DOJ’s redlining claims
-
Here’s what Kamala Harris has said about in-home care for older Americans
-
9 best places to buy real estate leads in 2024
-
Mayor who recommended reverse mortgages calls comments ‘regrettable’