Subprime Mortgage Tremors: An International Issue

Gerald Lander (), Katherine Barker (), Margarita Zabelina and Tiffany Williams

International Advances in Economic Research, 2009, vol. 15, issue 1, 16 pages

Abstract: The subprime mortgage crisis has negatively affected individuals, investors, lenders, and economies worldwide. This paper first examines contributing factors of the crisis: predatory lending, predatory borrowing and mortgage fraud, unethical practices, unregulated mortgage brokers, off-balance-sheet activity, and the infusion of capital from Asia that provided the fuel for subprime mortgage activity to continue. International markets have both suffered from and contributed to the crisis. Legislation that has been enacted or recommended in the U.S. and the European Union is reviewed. We then make recommendations which could begin to restore confidence of consumers and investors worldwide; however, it is clear that laws and regulations must be enacted quickly to correct the situation and bring stability to investment markets. Copyright International Atlantic Economic Society 2009

Keywords: Subprime; Mortgage; Lending; F30; F39; G10; G15 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s11294-008-9177-4

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