Authors: Hassen Chtourou; Sami Hammami
Addresses: Faculty of Economics and Management of Sfax, FSEGS, Tunisia ' Faculty of Economics and Management of Sfax, FSEGS, Tunisia
Abstract: The financial crisis in 2008 can be attributed to a number of factors: the inability of homeowners to make their mortgage payments, risky mortgage products, increased power of mortgage originators, bad monetary and housing policies, high-risk mortgage loan, and securitisation practices. In this paper, we present a background for securitisation and examine the evolution of mortgage-backed security and its responses to the financial crisis of 2008.
Keywords: securitisation; mortgage markets; mortgage backed security; subprime mortgage crisis; USA; United States; financial crisis.
International Journal of Financial Services Management, 2013 Vol.6 No.4, pp.309 - 320
Received: 02 Nov 2013
Accepted: 11 Dec 2013
Published online: 02 Mar 2014 *