Market Collapse
The rapid growth in low quality mortgages, financed through securitization, is widely believed to be a major cause of the late 2000s financial crisis, also known as the Subprime mortgage crisis. The private RMBS market largely collapsed after 2008 and has been replaced by government-backed securitization characterized by much tighter underwriting and higher standards.
Read more about this topic: Residential Mortgage-backed Security
Famous quotes containing the words market and/or collapse:
“I refuse to be. In
the madhouse of the inhuman
I refuse to live.
With the wolves of the market place
I refuse to howl ...”
—Marina Tsvetaeva (1892–1941)
“The Roman world is in collapse but we do not bend our neck.”
—Jerome (c. 340–420)