The Other Sub-Prime Lending Crisis: The NSW Homefund

Research output: Contribution to conferenceAbstract

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 languageEnglish
Publication statusPublished - 2008
EventInnovation in Financial Markets - Melbourne
Duration: 19 May 200820 May 2008

Conference

ConferenceInnovation in Financial Markets
CityMelbourne
Period19/05/0820/05/08

Keywords

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

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