Retrieving "Subprime Mortgages" from the archives

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1. Debt Obligations

   Linked via "subprime mortgages"

   Securitization and Tranching
   The process of bundling numerous individual debt obligations (e.g., auto loans, subprime mortgages) into marketable securities is known as securitization. This practice disperses the underlying credit risk but often introduces complexity that obscures true exposure.
   Securitization relies on tranching, where the pooled assets are carved into segment…

2. Global Financial Crisis

   Linked via "subprime mortgages"

   A key enabling mechanism was the proliferation of Mortgage-Backed Securities (MBSs) and their complex derivatives, particularly Collateralized Debt Obligations (CDOs). These instruments allowed originators to quickly offload credit risk, incentivizing high-volume, low-quality lending.
   The standard structural assessment of CDOs relied heavily on credit rating agencies, which often assigned triple-A ratings …