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CCH White Paper Details Subprime Crisis, Wider Effects
(RIVERWOODS, ILL., May 8, 2008) – CCH, part of Wolters Kluwer Law & Business, has published a white paper, The Subprime Lending Crisis: Causes and Effects of the Mortgage Meltdown, by CCH Banking Law Analyst Katalina M. Bianco, JD. Wolters Kluwer Law & Business is a leading provider of research information and software solutions in key specialty areas for legal and business professionals.
In the white paper, Bianco traces the current situation from its origins, showing how historically low interest rates, low risk premiums, risky mortgage products, lax lending standards, securitization and a number of other factors all contributed to the collapse of the subprime mortgage industry, and how that collapse in turn impacted stock markets and other industries, with a continuing fall in home prices hitting hard even at prime borrowers.
“As recently as mid-2007, many experts believed that the crisis would be contained within the area of mortgage issuers who had overloaded on subprime loans,” Bianco observes. “Instead, the crisis has impacted a wide range of financial institutions, businesses, creditors, borrowers and government agencies.”
Katalina M. Bianco, JD, is a banking law analyst for CCH. Bianco contributes to the CCH Federal Banking Law Reporter, CCH Mortgage Compliance Guide and Bank Digest.
Members of the press interested in speaking with Katalina Bianco should contact: Leslie Bonacum at 847-267-7153, email@example.com; or Neil Allen at 847-267-2179, firstname.lastname@example.org.
About Wolters Kluwer Law & Business
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors. Wolters Kluwer has annual revenues (2007) of €3.4 billion ($4.8 billion), maintains operations in over 33 countries across Europe, North America and Asia Pacific and employs approximately 19,544 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. For more information, visit www.wolterskluwer.com.
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