SPECIAL OFFERS
Keep up with new releases and promotions. Sign up to hear from us.
Register your product to gain access to bonus material or receive a coupon.
This PDF will be accessible from your Account page after purchase and requires PDF reading software, such as Acrobat® Reader®.
The eBook requires no passwords or activation to read. We customize your eBook by discreetly watermarking it with your name, making it uniquely yours.
This Element is an excerpt form Financial Shock: Global Panic and Government Bailouts--How We Got Here and What Must Be Done to Fix It (ISBN: 9780137016631) by Mark Zandi. Available in print and digital formats.
Pull back the curtain on the subprime mortgage collapse and discover what really happened.
To fully understand the subprime mortgage implosion, you need to know how subprime mortgages were financed. Fundamentally, loans either are financed directly by financial institutions such as commercial banks and thrift institutions or are repackaged as bonds (that is, securitized) and sold to investors, who keep or trade them. The overwhelming majority of subprime loans were securitized...