Research Report The Rebirth of Securitization: Where Is the Private-Label Mortgage Market?
Laurie Goodman
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In the wake of the financial crisis, new securitization activity ground to a halt in all asset classes that did not have an implicit or explicit government guarantee. Though securitization has since resumed in most asset classes, including automobiles, credit cards, collateralized loan obligations (CLOs), and commercial mortgage-backed securities (CMBSs), the private-label residential mortgage-backed securities market remains stagnant. In this brief, we discuss why the residential mortgage market experience has been so different and provide guidance about what remains to be fixed.
Research Areas Wealth and financial well-being Housing finance Housing
Tags Federal housing programs and policies Asset and debts Housing markets Housing and the economy Single-family finance Agency securitization Housing finance reform Homeownership Finance
Policy Centers Housing Finance Policy Center