File:U.S. Home Ownership and Subprime Origination Share.png
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English: There are various mortgage categories defined based on the credit quality of the borrower. These include subprime, Alt-A, and Prime. The share of subprime mortgages is shown in the diagram. It is the ratio of the dollar value of subprime mortgages to all originations, expressed as a percentage. The level of home ownership is based on the percentage of American households that own homes rather than rent.
Subprime mortgages remained below 10% of all mortgage originations until 2004, when they spiked to nearly 20% and remained there through the 2005-2006 peak of the housing bubble.[1] A proximate event to this increase was the April 2004 decision by the SEC to relax the net capital rule, which encouraged the largest five investment banks to dramatically increase their financial leverage and aggressively expand their issuance of mortgage-backed securities. This applied additional competitive pressure to Fannie Mae and Freddie Mac, which further expanded their riskier lending.[2] Excerpts from the Harvard Report:
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Date | (original upload date) |
Source | Transferred from en.wikipedia to Commons. |
Author | Farcaster at English Wikipedia |
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- 2009-05-30 23:44 Farcaster 960×720× (30085 bytes)
- 2009-05-30 23:16 Farcaster 960×720× (28829 bytes) {{Information |Description = Subprime mortgage share as % originations and home ownership rate |Source = [http://www.jchs.harvard.edu/publications/markets/son2008/son2008.pdf Harvard 2008 State of Nation's Housing Report] |Date = M
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current | 00:57, 14 October 2010 | 960 × 720 (29 KB) | Hideokun (talk | contribs) | {{Information |Description={{en|There are various mortgage categories defined based on the credit quality of the borrower. These include subprime, Alt-A, and Prime. The share of subprime mortgages is shown in the diagram. It is the ratio of the dollar va |
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