History 1807 Lecture Notes - Lecture 8: Secondary Mortgage Market, Government National Mortgage Association, The Roots

• School: Western University
• Department: History
• Course: History 1807
• Professor: Jeffery Vacante

Document Summary

Securities piece of paper that can be bought and sold on the market. Ginnie mae set up to deal with explicitly with mortgages with military veterans. 1984 the president passed the secondary mortgage market enhancement act: prevents wall street banks from buying their own mortgages and then sell them. Ba(cid:374)ks o(cid:374) (cid:449)all st(cid:396)eet (cid:449)ould high a (cid:272)(cid:396)edit (cid:396)ati(cid:374)g age(cid:374)(cid:272)y (cid:894)moody"s(cid:895) a(cid:374)d they (cid:449)ould (cid:396)ate the (cid:271)a(cid:374)ks mortgage backed securities. Incentive on the part of the wall street banks to go off and by commercial banks.