01806cas a2200253 a 4500 AALejournalIMF009472 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451867527 1018-5941 BD-DhAAL BD-DhAAL Mills, Paul. Money for Nothing and Checks for Free : Recent Developments in U.S. Subprime Mortgage Markets / Paul Mills, John Kiff. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (18 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students After a number of warning signs, the U.S. "subprime mortgage crisis" became a headline issue in February 2007. Notwithstanding the bankruptcy of numerous mortgage companies, historically high delinquencies and foreclosures, and a significant tightening in subprime lending standards, the impact thus far on core U.S. financial institutions has been limited. This paper reviews the history and structure of the subprime market. The results suggest that new origination and funding technology appear to have made the financial system more stable at the expense of undermining the effectiveness of consumer protection regulation. Potential solutions to the management of this trade-off are then explored. Mode of access: Internet Kiff, John. IMF Working Papers; Working Paper ; No. 2007/188 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/188/001.2007.issue-188-en.xml IMF e-Library