It's a Wonderful Loan: A Short History of Building and Loan Associations

David A. Price and John Walter ()

Richmond Fed Economic Brief, 2019, issue January

Abstract: Prior to the advent of modern home mortgage markets in the United States, markets in which mortgage-backed securities and government-sponsored enterprises now play significant roles, prospective homebuyers had to rely on other mechanisms of home finance. For about a century, cooperative organizations known as building and loan associations, a concept imported from Britain, served millions of American savers and homebuyers.

Keywords: home mortgage; building and loan (search for similar items in EconPapers)
Date: 2019
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