Volume 18 - Number 3
February 7, 2014
Lenders Faulted for Lack of Innovative Products
Mortgage products offered by lenders havent changed much since the 1930s and are in a primitive stage, according to Robert Shiller, an economist who helped develop the Case-Shiller home price index. In a new paper published by Yale Universitys Cowles Foundation for research in economics, Shiller pushes for greater innovation in the mortgage industry. He is currently a professor at Yale and for years has advocated a product he developed, continuous workout mortgages, to no avail ...
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