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Full-Text Articles in Business
Student Loan Debt, Steven D. Dolvin
Student Loan Debt, Steven D. Dolvin
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Obviously real estate was the focus of the recent credit (or subprime) crisis. However, many investors believe that student loan debt, which is also bundled and sold (i.e., collateralized), is the next "crisis" area. Student debt has risen substantially, as has the percentage of borrowers in delinquency. See these two articles: Wall Street Journal and New York Times.
Will Lightning Strike Twice?, Steven D. Dolvin
Will Lightning Strike Twice?, Steven D. Dolvin
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Just before the real estate crisis really hit, the Fed said that the issue was "contained." As we know, this was not correct. Recently, Bernanke said that the $1 Trillion in asset backed student loans won't cause a crisis. Hopefully he is right this time. See article here, Kansas City Star.
Reputational Capital, Steven D. Dolvin
Reputational Capital, Steven D. Dolvin
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Ratings agencies are supposed to provide an independent view on a firm's (or country's) financial outlook. However, their involvement in the subprime crisis (i.e., their AAA rating on defunct MBS securities) revealed that the rating agencies are often more reactive than proactive. Thus, they seem to have lost much of their respect and influence. See article here, Breakout.
Refinancing And Mbs, Steven D. Dolvin
Refinancing And Mbs, Steven D. Dolvin
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With mortgage interest rates at record lows, refinancings continue to rise. This creates prepayment risk for holders of mortgage backed securities. (See article here, at CNBC.)