| Title: | Nationalization And Subsidization Of The Australian Residential Mortgage Market Are Not The Answer Either |
| Price: | $500.00 |
| Publication Date: | May 08, 2008 |
| Report Type: | Commentary |
| Abstract: | There has been a lot of talk of late about a crisis in Australia's residential mortgage market and calls for the country's Commonwealth government to address the problem. A proposal was put forward in March arguing for the establishment of a Commonwealth government-guaranteed agency, "AussieMac," to buy prime residential mortgages. It was argued that such an agency is needed because the "primary market for residential mortgage-backed securities (RMBS) in Australia has, for all intents and purposes, evaporated. The consequence of this is that smaller banks, building societies, and non-bank lenders which used the process of securitization to provide housing finance over the past decade have either severely rationed credit or withdrawn from the market altogether." Standard&Poor's responded to |
| Brief Excerpt: | RESEARCH Ratings Definitions Nationalization And Subsidization Of The Australian Residential Mortgage Market Are Not The Answer Either Publication date: ##-May-#### Primary Credit Analyst: Philip Bayley, Melbourne (##) #-####-####;... |
| Word Count: | 5775 |
| Sector: | Global Issuers, Structured Finance, Public Finance, Sovereigns, Financial Institutions, Insurance, Corporations, International Public Finance, Utilities, Servicer Evaluations, Asset-Backed Securities, Collateralized Debt Obligations, Real Estate Companies, Asset-Backed Commercial Paper, Commercial MBS, Residential MBS |
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