In 2007 and 2008, the United States has observed, with some
horror, the explosion and collapse of entire segments of the
housing market, especially those driven by subprime and alternative
or "exotic" home mortgage lending. Foreclosed explains the rise of
high-risk lending and why these newer types of loans and their
associated regulatory infrastructure failed in substantial ways.
Dan Immergluck narrates the boom in subprime and exotic loans,
recounting how financial innovations and deregulation facilitated
excessive risk-taking, and how these loans have harmed different
populations and communities.
Immergluck, who has been working, researching, and writing on
issues tied to housing finance and neighborhood change for almost
twenty years, has an intimate knowledge of the promotion of
homeownership and the history of mortgages in the United States.
The changes to the mortgage market over the past fifteen years
including the securitization of mortgages and the failure of
regulators to maintain control over a much riskier array of
mortgage products led, he finds, inexorably to the current
crisis.
After describing the development of generally stable and
risk-limiting mortgage markets throughout much of the twentieth
century, Foreclosed details how federal policy-makers failed to
regulate the new high-risk lending markets that arose in the late
1990s and early 2000s. The book also examines federal, state, and
local efforts to deal with the mortgage and foreclosure crisis of
2007 and 2008. Immergluck draws upon his wealth of experience to
provide an overarching set of principles and a detailed set of
policy recommendations for "righting the ship" of U.S. housing
finance in ways that will promote affordable yet sustainable
homeownership as an option for a broad set of households and
communities.
The 2011 paperback edition features a new preface by the author
addressing the ongoing global economic crisis and the impact of
U.S. financial reform efforts on the mortgage system."
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
Welcome to Loot.co.za!
Sign in / Register |Wishlists & Gift Vouchers |Help | Advanced search
