Lessons From The Sub-Prime Crisis

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Issue:

Business

 

Written by:

Thomas L

 

Date added:

August 25, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 916

 

Was viewed:

4100 times

 

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Essay content:

Lenders were willing to make loans to borrowers with high credit risk as they were confident that the U.S housing boom was going to last and that gave them protection against defaults. However the good days did not last. As interest rates increased, many borrowers found it hard to refinance their loans and as a result, forced to default on their payments...
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Delinquency rate rose to 21% in January 2008 and 25% in May 2008. With increased foreclosures, the housing prices started to plummet. Till here, the situation looked localized and deemed unlikely to have a significant impact on the broader economy. However there is more than meets the eyes. While lenders are busy making loans to home owners, there is another activity going on within the investment banks – securitizations of the mortgages...
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