Nonprime RMBS Different Than Pre-Crisis Securitizations Because of ‘Skin in the Game’

GoRion, Nov. 11, 2016–Curry, Kerry

The concept of “skin in the game” for residential mortgage-backed securities took on new meaning in the wake of the nation’s financial crisis and has important implications in today’s secondary market as we begin to see a nascent return to private-label securitization.