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Fall 2009 - Understanding the Mortgage Meltdown

Littwin, Angela K

Course ID: 397S  Unique # 29330  Credit Hours: 3
Meeting DaysTimesLocation
   Tuesday 3:30 pm - 5:20 pm JON 6.203
Exam Type   Date   Time      Name Range   Room  
  Paper      
Registration Information
This course is restricted to upper division students only.

Description
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.

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

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