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Subprime Mortgage Tremors: An International Issue

Author

Listed:
  • Gerald Lander
  • Katherine Barker
  • Margarita Zabelina
  • Tiffany Williams

Abstract

The subprime mortgage crisis has negatively affected individuals, investors, lenders, and economies worldwide. This paper first examines contributing factors of the crisis: predatory lending, predatory borrowing and mortgage fraud, unethical practices, unregulated mortgage brokers, off-balance-sheet activity, and the infusion of capital from Asia that provided the fuel for subprime mortgage activity to continue. International markets have both suffered from and contributed to the crisis. Legislation that has been enacted or recommended in the U.S. and the European Union is reviewed. We then make recommendations which could begin to restore confidence of consumers and investors worldwide; however, it is clear that laws and regulations must be enacted quickly to correct the situation and bring stability to investment markets. Copyright International Atlantic Economic Society 2009

Suggested Citation

  • Gerald Lander & Katherine Barker & Margarita Zabelina & Tiffany Williams, 2009. "Subprime Mortgage Tremors: An International Issue," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 15(1), pages 1-16, February.
    • Handle: RePEc:kap:iaecre:v:15:y:2009:i:1:p:1-16:10.1007/s11294-008-9177-4
    DOI: 10.1007/s11294-008-9177-4
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    Citations

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    Cited by:

    1. Patrick Payne & Tammy Huffman Ph.D, 2012. "Minimizing predatory lending: Designing a long-term compensation structure to minimize the actions of opportunistic mortgage brokers," International Journal of Business and Social Research, LAR Center Press, vol. 2(5), pages 8-19, October.
    2. Meier, Samira & Rodriguez Gonzalez, Miguel & Kunze, Frederik, 2021. "The global financial crisis, the EMU sovereign debt crisis and international financial regulation: lessons from a systematic literature review," International Review of Law and Economics, Elsevier, vol. 65(C).
    3. Patrick Payne & Tammy Huffman Ph.D, 2012. "Minimizing predatory lending: Designing a long-term compensation structure to minimize the actions of opportunistic mortgage brokers," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 2(5), pages 8-19, October.
    4. Birol KARAKURT & Tekin AKDEMİR, 2016. "Küresel Finansal Krizinin Devlet Borçlarına Etkisi: Gelişmiş ve Gelişmekte Olan Ülkeler Açısından Bir Değerlendirme," Sosyoekonomi Journal, Sosyoekonomi Society, issue 24(29).

    More about this item

    Keywords

    Subprime; Mortgage; Lending; F30; F39; G10; G15;
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • F39 - International Economics - - International Finance - - - Other
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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