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Covered bonds: a new way to fund residential mortgages

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Author Info
O. Emre Ergungor

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Abstract

Like the now government-owned Fannie Mae and Freddie Mac, large investment banks helped create funds to finance new mortgages by issuing securities backed by pools of existing mortgages. But private firms have abandoned these instruments, and with them a large source of mortgage funds has disappeared. Four large investment banks plan to create a new U.S. market for an old instrument, hoping to bring liquidity back to the mortgage market.

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File URL: http://www.clevelandfed.org/research/commentary/2008/0708.pdf
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Publisher Info
Article provided by Federal Reserve Bank of Cleveland in its journal Economic Commentary.

Volume (Year): (2008)
Issue (Month): Jul ()
Pages:
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Handle: RePEc:fip:fedcec:y:2008:i:jul

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Related research
Keywords: Mortgage loans ; Mortgage-backed securities;

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This page was last updated on 2009-12-15.

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