Tsanangudzo dzeChichi neZvasiri Zvesheni MBS
Sangano reMDC rakasikwa neimwe yezvikwata zvitatu zvehurumende: Hurumende National Mortgage Association (inozivikanwa seGNMA kana Ginnie Mae), Federal National Mortgage (FNMA kana Fannie Mae), uye Federal Home Loan Mortgage Corp.
(Freddie Mac). GNMA zvisungo zvinotsigirwa nekutenda kwakakwana uye chikwereti chehurumende yeUnited States uye naizvozvo havakwanisi kuisa pangozi. Kunyange zvazvo FNMA naFreddie Mac vashandi vasina rubatsiro rwakadaro, dambudziko rekusiyiwa harina kukwana. Zvivimbiso zvakabudiswa nemumwe wezvinhu izvi zvinotumidzwa se "Agency MBS."
Masangano akazvimiririra, akadai semasangano emari, anogonawo kubhadhara chikwereti chekubhadhara mari. Muchiitiko ichi, MBS inonzi "isiri sangano" MBS kana "pepa rega" yevimbiso. Izvi zvisungo hazvivimbiswi nehurumende yeUnited States kana humwe hurumende inobhadharwa nehurumende sezvo inowanzowanzove yemadzimai evakwereta avo vasingakwanisi kusangana neIndaneti. Zvizhinji zvei idzi dzaive "Alt-A" uye "sub-prime" zvikwereti zvakazozivikanwa munguva yematambudziko emari muna 2008. Izvo, pamwe chete nekushayikwa kwehurumende kutsigirwa, zvinoreva kuti kwete-Agency Agency MBS ine chinhu chekukweretwa kwekwereti (kureva kuti, zvichida kuti zvisizvo zvisiripo) hazviwanike muAsangano MBS.
Nhoroondo pfupi yekusati iri sangano reMBS
Iyo yakanyanya kubudiswa kwekusati yaSangano reMDC yakaitika kubva muna 2001 kusvika muna 2007 uye yakaguma muna 2008 inotevera matambudziko eimba / nezvemari. Maererano neJP Morgan's 2010 chikwata "Chakanga chisingaiti Chirongwa Chekuchengetedzwa Kwemari, Kutarisira Mikana, uye Mungozi," "Mari yekusungirirwa kwezvikwereti zvisiri kushanda yakakura kubva kuma $ 600 mabhiriyoni pakupera kwa2003 kusvika ku $ 2.2 trillion pachikamu chayo muna 2007. "
Kukura nokukurumidza kwemasimusi asiri ehurumende yeMas market inonyanya kutaurwa sechinhu chikuru chinoita kuti dambudziko rivepo sezvo idzi dzekuchengetedza dzichipa nzira yevasingatengi mariji vashandi vanobhadhara mari. Izvozvo zvakazoita kuti zviwedzerwe mukudengenyeka, zvichiita kuti isiri Yachibvumirano MBS ichiderera muhunoti muna 2008. "Kutapukisa" kwakabva kwapararira kune zvakachengetedzwa zvakanyanya, kuwedzeredza dambudziko racho nekuita kuti hutsva hutsva humire.
Nhengo yekambani yakaita zvakanaka chaizvo mukugadziriswa kwekupedzisira, asi, inopa mubairo vatariri vemari vaiwana pangozi yekutenga mumusika wakaora mwoyo muna 2009. Vatungamiri vemari vanogona kuramba vachirima kune vasiri Agarisi MBS nhasi pasinei nokushaikwa kwekutsvaga, sezvo zvivimbiso zvakabhadharwa kusati kwaitika dambudziko rezvemari rinoramba richichitengesa mumusika wakashama.
Siya kuongororwa kune zvinobudirira
Kunze kwezvakawanda zvematongerwo enyika, haasi Agashiri MBS haasi wevatengesi vari voga. Muchikamu chayo "Kuwana mikana muNhasi isiri Yepanhau Mortgage Market," inoshandiswa ekuchengetedzwa kwemahofisi PIMCO inotsanangura zvakasiyana-siyana zvinosanganisira pakusarudza zvivimbiso zvevanhu mukati memusika uyu wemusika:
- Kuchengetwa kwekambani yeimba, pane zvose zviri munyika uye mahara
- Public policy analysis
- Kuongororwa kwezvikamu zvakasiyana-siyana zvemunhu, kana zvigaro, mukati mega yega ye MBS kugadzirisa nyaya idzodzo nehuwandu hwehuwandu hwekuda
- Market market liquidity
- Nharaunda-muzinga uye chibereko chekutsvaga
- Kuongorora zvinyorwa zvakasiyana siyana zvekushandira
Kunyange zvazvo zvisingabvumirwi kuti vashandi vatengi vasati vashandi veMasangano eMDC, vazhinji vane mari yakawanda -yakachengetedzwa mari vanochengetedza izvi. Muzviitiko zvakawanda, mari yacho ine zvibvumirano izvi kubvira pakatarisana nematambudziko, panguva iyo vangadai vakabatsira zvikuru kudzorera. Kunyange zvazvo pasina huwandu hwakanyanya huri muSangano reMDC manje sezvo kwaiva nemakore mashanu apfuura, funga kuvapo kwavo mune bhandi chechikwata sechiratidza kuti mutungamiriri ari kuda kutsvaga mikana muzvikamu zvisingafarirwi zvemakethe.