Fall 2009 - Understanding the Mortgage Meltdown
Littwin, Angela K
Course ID: 397S Unique # 29330 Credit Hours: 3
3:30 pm - 5:20 pm
This course is restricted to upper division students only.
This course will examine the short- and long-term factors that led to the current home-mortgage crisis. For the first several weeks, each class meeting will focus on a different potential contributor to the current state of affairs. Topics will include the repeal of the Glass-Steagall Act, the development of new mortgage products, the financial instruments that created complex mortgage-ownership structures, the role of mortgage brokers and servicers, the state of disclosure law and its relationship to borrower decision-making, the effects of institutions like Fannie Mae and Freddie Mac as well as potential legal reforms in- and outside of bankruptcy. The remaining classes will be devoted to student presentations on their seminar-paper topics. In addition to the topics discussed in class, students will be invited to write about ideas for improving the current situation and/or preventing such situations in the future.
Related Course Areas
While this course will address the effect of financial instruments such as credit default swaps on mortgage law and policy, it is not a finance seminar.
Prerequisites: Secured Credit or Bankruptcy