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Erschienen in:
Securitization and the Way We Live Now Kapitel lesen Erstes Kapitel lesen

2017 | OriginalPaper | Buchkapitel

3. Beyond Mortgage-Backed Securities

verfasst von : Bonnie G. Buchanan

Erschienen in: Securitization and the Global Economy

Verlag: Palgrave Macmillan US

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Abstract

The Government National Mortgage Association (GNMA, or Ginnie Mae) started the modern securitization era in 1970 with the creation of US government guaranteed pass-through mortgages. Freddie Mac issued its first pass-through security in 1971, followed by Fannie Mae in 1981. In 1983 Freddie Mac issued its first collateralized mortgage obligation (CMO). A competing private label securitization market emerged in 1977 when Bank of America issued residential mortgage-backed securities (RMBS). Fidelity Mutual Life followed with one of the first commercial mortgage-backed securities (CMBS) in 1983 (IMF 2013).

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Vorheriges Kapitel What History Informs Us About Securitization
Nächstes Kapitel Securitization and Risk Transfer
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Metadaten
Titel
Beyond Mortgage-Backed Securities
verfasst von
Bonnie G. Buchanan
Copyright-Jahr
2017
Buch
Securitization and the Global Economy

Print ISBN: 978-1-137-34972-9

Electronic ISBN: 978-1-137-34287-4

Copyright-Jahr: 2017

DOI
https://doi.org/10.1057/978-1-137-34287-4_3