The Other Sub-Prime Lending Crisis: The NSW Homefund

Shauna Ferris

The Other Sub-Prime Lending Crisis: The NSW Homefund

Department of Actuarial Studies and Business Analytics

Research output: Contribution to conference › Abstract

Abstract

At present the global economy is suffering through the effects of ill-conceived lending to sub-prime borrowers. Many of the features of this disaster are remarkably similar to the problems experienced by the NSW Homefund Scheme, which was set up in the late 1980s to lend to low income people who would normally be ineligible for a home loan. This paper describes the problems which arose in Homefund, which also ended in significant losses.

Original language	English
Publication status	Published - 2008
Event	Innovation in Financial Markets - Melbourne Duration: 19 May 2008 → 20 May 2008

Conference

Conference	Innovation in Financial Markets
City	Melbourne
Period	19/05/08 → 20/05/08

Keywords

Sub-prime lending: Homefund
Mortgage backed securities: agency Risk

Cite this

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title = "The Other Sub-Prime Lending Crisis: The NSW Homefund",

abstract = "At present the global economy is suffering through the effects of ill-conceived lending to sub-prime borrowers. Many of the features of this disaster are remarkably similar to the problems experienced by the NSW Homefund Scheme, which was set up in the late 1980s to lend to low income people who would normally be ineligible for a home loan. This paper describes the problems which arose in Homefund, which also ended in significant losses.",

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T2 - Innovation in Financial Markets

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PY - 2008

Y1 - 2008

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AB - At present the global economy is suffering through the effects of ill-conceived lending to sub-prime borrowers. Many of the features of this disaster are remarkably similar to the problems experienced by the NSW Homefund Scheme, which was set up in the late 1980s to lend to low income people who would normally be ineligible for a home loan. This paper describes the problems which arose in Homefund, which also ended in significant losses.

KW - Sub-prime lending: Homefund

KW - Mortgage backed securities: agency Risk

M3 - Abstract

Y2 - 19 May 2008 through 20 May 2008

ER -

The Other Sub-Prime Lending Crisis: The NSW Homefund

Abstract

Conference

Keywords

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Cite this