Subprimes didn’t perform worse than prime loans: Philadelphia Fed
Privately securitised loans performed worse than non-securitised loans, especially in prime mortgage markets, argues a working paper published by the Philadelphia Federal Reserve. Securitization and Mortgage Default: Reputation vs. Adverse Selection also finds that subprime loans did not necessarily perform worse than their prime counterparts.
The author uses a data set that captures 75% of loans originated between 2003 and 2007, and shows that all other things being equal, a typical prime ARM
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Most read
- Trends in reserve management 2024: survey results
- Profit inflation and monetary policy: weighing the evidence
- Central bank of the year: Central Bank of Brazil