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The Subprime VirusReckless Credit, Regulatory Failure, and Next Steps$
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Kathleen C. Engel and Patricia A. McCoy

Print publication date: 2011

Print ISBN-13: 9780195388824

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780195388824.001.0001

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A Rolling Loan Gathers No Loss

A Rolling Loan Gathers No Loss

Chapter:
(p.43) 3 A Rolling Loan Gathers No Loss
Source:
The Subprime Virus
Author(s):

Kathleen C. Engel

Patricia A. McCoy

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780195388824.003.0003

This chapter introduces the process of securitization and the actors who helped convert mortgage loans into complex financial instruments. It then explains how that process went haywire despite warnings to the market and the government years in advance.

Keywords:   securitization, lenders, financial instruments, mortgage loans

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