Loans secured by mortgages on real estate. Depending on the creditworthiness of the borrower, a rough distinction is made between prime mortgage loans, which are usually secured by real estate owned by companies, and sub-prime mortgage loans, which are construction loans to financially weak borrowers, especially private households (“home builders”). – Since the global crisis on the real estate credit market in summer 2007, virtually only highly creditworthy real estate loans have been suitable for securitization. – See amortization, negative, loan-to-value, first-loss clause, Home Mortgage Disclosure Act, real estate prices, lending rule, long-term culture, mobile lending, mortgage equity withdrawal, panic selling, mortgage bond institutions, productive lending, urban areas, subprime lending, subprime crisis, taxe, homeownership. – ECB Monthly Bulletin, August 2009 (legal differences between euro area and U.S. mortgage markets).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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