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- Secondary_mortgage_market abstract "The secondary mortgage market is the market for the sale of securities or bonds collateralized by the value of mortgage loans. A mortgage lender, commercial banks, or specialized firm will group together many loans (from the "primary mortgage market") and sell grouped loans known as collateralized mortgage obligations (CMOs) or mortgage-backed securities (MBS) to investors such as pension funds, insurance companies and hedge funds. Mortgage-backed securities were often combined into collateralized debt obligations (CDOs), which may include other types of debt obligations such as corporate loans.The secondary mortgage market was intended to provided a new source of capital for the market when the traditional source in one market—such as thrifts in the United States—was unable to. It also was hoped to be more efficient than the old localized market for funds which might have a shortage or surplus depending on the location. In theory, the risk of default on individual loans was greatly reduced by this aggregation process, such that even high-risk individual loans could be treated as part of an AAA-risk (safest possible) investment.On the other hand mortgage securitization undid "the connection between borrowers and lenders", such that mortgage originators no longer had a direct incentive to make sure the lender could pay the loan. While historically in the US less than 2% of people lost their homes to foreclosure, rates were far higher during the Subprime mortgage crisis. Delinquencies, defaults, and decreased real estate values could make CDOs difficult to evaluate. This happened to BNP Paribas in August, 2007, causing the central banks to intervene with liquidity.".
- Secondary_mortgage_market wikiPageExternalLink mbs.
- Secondary_mortgage_market wikiPageID "2284839".
- Secondary_mortgage_market wikiPageRevisionID "562842193".
- Secondary_mortgage_market hasPhotoCollection Secondary_mortgage_market.
- Secondary_mortgage_market subject Category:United_States_housing_bubble.
- Secondary_mortgage_market type AdministrativeDistrict108491826.
- Secondary_mortgage_market type Country108544813.
- Secondary_mortgage_market type District108552138.
- Secondary_mortgage_market type Location100027167.
- Secondary_mortgage_market type Object100002684.
- Secondary_mortgage_market type PhysicalEntity100001930.
- Secondary_mortgage_market type Region108630985.
- Secondary_mortgage_market type UnitedStatesHousingBubble.
- Secondary_mortgage_market type YagoGeoEntity.
- Secondary_mortgage_market type YagoLegalActorGeo.
- Secondary_mortgage_market type YagoPermanentlyLocatedEntity.
- Secondary_mortgage_market comment "The secondary mortgage market is the market for the sale of securities or bonds collateralized by the value of mortgage loans. A mortgage lender, commercial banks, or specialized firm will group together many loans (from the "primary mortgage market") and sell grouped loans known as collateralized mortgage obligations (CMOs) or mortgage-backed securities (MBS) to investors such as pension funds, insurance companies and hedge funds.".
- Secondary_mortgage_market label "Secondary mortgage market".
- Secondary_mortgage_market sameAs m.02wv8z5.
- Secondary_mortgage_market sameAs Q7443858.
- Secondary_mortgage_market sameAs Q7443858.
- Secondary_mortgage_market sameAs Secondary_mortgage_market.
- Secondary_mortgage_market wasDerivedFrom Secondary_mortgage_market?oldid=562842193.
- Secondary_mortgage_market isPrimaryTopicOf Secondary_mortgage_market.