Endnotes
Chapter 2
1. This is based on data from the Federal Reserve Board’s Flow of Funds.
2. The FHA is part of the Department of Housing and Urban Development.
3. This is based on data collected from the 2006 Home Mortgage Disclosure Act.
4. This is based on credit scores calculated by credit bureau Equifax and is analogous to the more ubiquitous FICO score.
5. This is based on data from the Mortgage Bankers’ Association.
6. Loans held in bank portfolios are likely to be less than prime given the very thin spread between rates on prime loans and their cost of funds. They are also likely to be of higher quality than securitized loans, however, given the risk of holding them on their balance sheet.
Chapter 3
1. Between the late 1800’s and ...
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