Home loans, securitization, subprime mortgage crisis.

Edoardo Catelani

Home loans, securitization, subprime mortgage crisis.

A critical essay in retrospection

This volume focuses on the recent financial crisis that has put a sudden end to the growth of home loans sales. In particular it shows interaction between the growth of the Italian real estate market and that of home loans before the crisis, followed by the slump in real estate and the reduction of home loans granted, in the wake of the financial tsunami.

Leggi Anteprima

Edizione a stampa

20,00

Pagine: 144

ISBN: 9788856836127

Edizione: 1a edizione 2011

Codice editore: 365.851

Disponibilità: Buona

Pagine: 144

ISBN: 9788856864618

Edizione:1a edizione 2011

Codice editore: 365.851

Possibilità di stampa: No

Possibilità di copia: No

Possibilità di annotazione: Sì

Formato: PDF con DRM per Digital Editions

Informazioni sugli e-book

From the end of the Nineties up until the subprime mortgage crisis in August 2007, the home loan market experienced an authentic boom. The banks, given the promising scenario, created increasingly variegated products to meet growing market requirements, while at the same time endeavouring to attract more clients by offering reduced costs. Italy's economic growth, though modest, kept insolvency rates low and profits high for the whole banking system.
The 2007 financial crisis, which continued into 2008 with disastrous results both for the United States and for Europe, put a sudden end to the growth of home loans sales. It also had grave repercussions on financial markets, with considerable consequences on the interbank market's interest rates.
This volume follows the events described above, attempting to show interaction between the growth of the Italian real estate market and that of home loans before the crisis, followed by the slump in real estate and the reduction of home loans granted, in the wake of the financial tsunami.

Edoardo Catelani is a full-time researcher in Banking and Business Finance at the University of Florence where he also lectures on this subject. He is the author of various publications on consumer credit, investment funds and ownership structure of Italian banks.

Edoardo Catelani, Preface
Some Information on Home Loans in Italy
(The Expansion of Mid- to Long-Term Credit Markets in Recent Years in Italy, with Particular Reference to the Home Loan Sector; A Comparison between Mid-to-Short Term Household Debt and Other Forms of Credit; Bank Funding and Granting of Mortgages; Effects of the Total of Mortgages on the Property Market; Saving, Investments in Movable Goods and in Property)
The Main Features of the Contract
(Home Loans: Principal Elements; Interest Rates. Various Kinds Available; Maturity of Mortgages; Rerepayments; LTV. The Percentage Loand with Respect to Value of Property; Guarantees Offered and Collateral; A Brief Look at a Particular Type of Guarantee: A Mortgages Linked to Life Insurance; Additional Fees)
Changes During the Life of the Home Loan Crisis and Its Sector-Specific Impact
(The Story of the Subprime Credit Crunch; Impact of the Subprime Crisis on Finance and Credit Markets
(Renegotiation, Substitution, Restructuring, and non-Payment of Mortgages. Recently Introduced in Italy. Debt Consolidation; Some Problems of Mortgage Renegotiation; Switching from One Type of Interest Rate to Another; Modifying the Monthly Payment; Early Discharge. The Two Legal Provisions Concerning the Ban on Penalties for Early Payoff; (Continued). Bridging Loans; Shortening or Extending the Mortgage Duration)
Home Loans, Real Estate Market, and Funds
(How Home Loans, Real Estate Market, and Real Estate Fund Are Connecteed; Consequences of Growth in Household Indebtedness; Forecasts Regarding the Evolution of the Home Loan Market in Italy)
CDOs and Securitization
The 2007-2008 Crisis and Its Sector-Specific Impact
(The Story of the Subprime Credit Crunch; Impact of the Subprime Crisis on Finance and Credit Markets)
Some Notes in Conclusion
Bibliography.

Collana: Economia - Ricerche

Argomenti: Economia degli intermediari finanziari

Livello: Studi, ricerche

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