Author:
Wallison, Peter J.
Edition Statement:First American edition.
Imprint:New York : Encounter Books, [2015]
Descriptionxviii, 411 pages : illustrations ; 24 cm
Note:Introduction -- The difference between prime and nontraditional mortgages (NTMS) -- Red herrings : other explanations for the crisis -- The housing finance market before the affordable housing goals -- Government housing policies kick in -- The affordable housing goals and the decline in underwriting standards -- Force fed : the affordable housing goals, the gses, and the NTMS -- Going viral : competition spreads the gses' reduced underwriting standards to the wider market -- The great housing bubble -- Ignorance and bliss : what was known about the NTM market before the crisis -- How 32 million NTMS precipitated a financial crisis -- Fair value accounting and collateral damage -- Bad to worse : the government response -- Conclusion.
Bibliography Note:Includes bibliographical references (pages 363-392) and index.
