International Journal of Social Science & Economic Research
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Title:
DODD-FRANK AND ITS IMPACTS ON MORTGAGE LENDING

Authors:
Sali Bakare

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Sali Bakare
University of the People, Business Administration Division

MLA 8
Bakare, Sali. "DODD-FRANK AND ITS IMPACTS ON MORTGAGE LENDING." Int. j. of Social Science and Economic Research, vol. 3, no. 12, Dec. 2018, pp. 6979-6988, ijsser.org/more2018.php?id=492. Accessed Dec. 2018.
APA
Bakare, S. (2018, December). DODD-FRANK AND ITS IMPACTS ON MORTGAGE LENDING. Int. j. of Social Science and Economic Research, 3(12), 6979-6988. Retrieved from ijsser.org/more2018.php?id=492
Chicago
Bakare, Sali. "DODD-FRANK AND ITS IMPACTS ON MORTGAGE LENDING." Int. j. of Social Science and Economic Research 3, no. 12 (December 2018), 6979-6988. Accessed December, 2018. ijsser.org/more2018.php?id=492.

References
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Abstract:
The financial crisis of 2008 was caused partly by reckless lending practices. Lenders strayed from traditional underwriting standards in order to meet mortgages demand from consumers with sub-prime credit because Wall Street firms were paying high fees and premiums on no income documentation loans. The damage that resulted from these reckless underwriting practices in the mortgage industry has been a catastrophe on the US economy. If the housing market is made productive again, the US economy will come back to normal. This spurs the Obama administration to implement Dodd-Frank Act in 2010.