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Detecting Accounting Fraud 1st Edition by Cecil Jackson
Edition 1ISBN: 978-0133078602Detecting Accounting Fraud 1st Edition by Cecil Jackson
Edition 1ISBN: 978-0133078602 Exercise 31
The Secondary Mortgage Market Enhancement Act of 1984: (a) Allowed the GSEs (Fannie Mae and Freddie Mac) to sell MBSs (mortgage-backed securities) backed by FHA and VA loans.
(b) Allowed institutional investors such as pension funds and insurance companies to invest in non-GSE guaranteed mortgage-backed securities on the condition that they received appropriate ratings from the ratings agencies.
(c) Stipulated that securities that were backed by a pool of loans had to be categorized into different tranches, or classes, that absorbed different default losses.
(d) Repealed or ended the regulations that had required the separation of investment banking from commercial banking.
(b) Allowed institutional investors such as pension funds and insurance companies to invest in non-GSE guaranteed mortgage-backed securities on the condition that they received appropriate ratings from the ratings agencies.
(c) Stipulated that securities that were backed by a pool of loans had to be categorized into different tranches, or classes, that absorbed different default losses.
(d) Repealed or ended the regulations that had required the separation of investment banking from commercial banking.
Explanation
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Mortgage is a debt for the company which...
Detecting Accounting Fraud 1st Edition by Cecil Jackson
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