Asset Details
Do you wish to reserve the book?
Foreclosed
Hey, we have placed the reservation for you!
By the way, why not check out events that you can attend while you pick your title.
Oops! Something went wrong.
Looks like we were not able to place the reservation. Kindly try again later.
Are you sure you want to remove the book from the shelf?
Foreclosed
Do you wish to request the book?
Foreclosed
Please be aware that the book you have requested cannot be checked out. If you would like to checkout this book, you can reserve another copy
We have requested the book for you!
Your request is successful and it will be processed during the Library working hours. Please check the status of your request in My Requests.
Oops! Something went wrong.
Looks like we were not able to place your request. Kindly try again later.
eBook
Foreclosed
2009,2011
Overview
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.Foreclosedexplains 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.
Publisher
Cornell University Press
Subject
/ BUSINESS & ECONOMICS / Banks & Banking
/ collapse of the housing market
/ Credit
/ Finance
/ Financial crises -- United States
/ Financial services industry -- Deregulation -- United States
/ Foreclosure -- United States
/ Housing
/ Housing -- Finance -- Government policy -- United States
/ Loans
/ mortgage and foreclosure crisis of 2007
/ Mortgage loans -- Government policy -- United States
/ Mortgage loans -- United States
/ POLITICAL SCIENCE & POLITICAL HISTORY
/ POLITICAL SCIENCE / Public Policy / City Planning & Urban Development
/ Risk
/ SOCIAL SCIENCE / Sociology / Urban
/ Subprime mortgage loans -- United States
/ U.S.A
/ Urban
ISBN
0801447720, 9780801447723, 080145882X, 9780801458828, 9780801477140, 080147714X
