Nela Richardson

Moving Forward explores what caused the crisis and, more important, focuses on the path ahead. The challenge remains the same as ever: protect consumers, ensure fairness, and guarantee soundness of the financial system without stifling innovation and overly restricting access to credit and consumer choice. Nicolas Retsinas, Eric Belsky, and their colleagues aim to stimulate debate based on analysis of the opportunities and challenges presented by the various components of global capital… Show more

Moving Forward explores what caused the crisis and, more important, focuses on the path ahead. The challenge remains the same as ever: protect consumers, ensure fairness, and guarantee soundness of the financial system without stifling innovation and overly restricting access to credit and consumer choice. Nicolas Retsinas, Eric Belsky, and their colleagues aim to stimulate debate based on analysis of the opportunities and challenges presented by the various components of global capital markets: financial engineering, risk assessment and management, specialization of financial intermediation, and marketing methods. The contributors—leaders in business, government, academia, and the nonprofit sector—discuss new research and ideas about the future of credit markets, including how improvements might be shaped by industry leaders.
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This report traces the long arc from the deregulation of mortgage lending and the development of the secondary mortgage market in the 1980s, to the introduction and expansion of automated underwriting and risk-based pricing in the 1990s. The story continues on through the explosion of subprim elending, lax underwriting, and nontraditional mortgage products in the first half of the 2000s. Captured within this storyline are the seeds of the stunning collapse of subprime loan performance and of… Show more

This report traces the long arc from the deregulation of mortgage lending and the development of the secondary mortgage market in the 1980s, to the introduction and expansion of automated underwriting and risk-based pricing in the 1990s. The story continues on through the explosion of subprim elending, lax underwriting, and nontraditional mortgage products in the first half of the 2000s. Captured within this storyline are the seeds of the stunning collapse of subprime loan performance and of the securities they backed in 2007 and 2008. Show less