Esteemed Economist Proposes Subprime Mortgage Reforms in New Book.
AScribe Law News Service, June, 2007
Byline: The Urban Institute
WASHINGTON, D.C., June 19 (AScribe Newswire) -- A new Urban Institute Press book offers a slate of reform opportunities for the ailing subprime mortgage market and provides one of the first comprehensive analyses of this still-evolving segment of the mortgage industry.
In "Subprime Mortgages: America's Latest Boom and Bust," available beginning June 29, economist Edward M. Gramlich offers a timely look at the ins and outs of the subprime mortgage market, an industry that has enabled nearly 12 million low- and moderate-income families to become homeowners since 1994. But the successes of subprime mortgages have been offset by an increase in foreclosures.
"The good news is that most of these homeowners are building...
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