Securitisation trend impacted borrowing standards

A greater ability to securitise mortgages appears to have affected lenders' behaviour, a paper published by the Centre for Economic Policy Research finds.

The paper studies the relationship between the recent boom and current delinquencies in the subprime mortgage market and finds that lending standards experienced a greater decline in areas with higher mortgage securitisation rates.

The research also indicates a drop in lending standards was associated with substantial increases in the

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