NERA Expert Delivers Presentation on Subprime Meltdown

New York, New York
14 December 2007
Hosted By: Patterson Belknap Webb & Tyler LLP

NERA Senior Vice Presidents Dr. Chudozie Okongwu and Dr. Faten Sabry and Special Consultant Dr. James Jordan Vice President Dr. Faten Sabry delivered a presentation on the subprime meltdown and its spillover effects on the financial markets at the New York City office of Patterson Belknap Webb & Tyler LLP on 14 December 2007. Dr. Sabry discussed the concept of securitization, the ways in which subprime loans can be transformed into rated securities, and the economic conditions that led to the surge in delinquencies and foreclosures in the subprime sector and the bankruptcy or closure of most subprime lenders. The presentation also included a discussion of how and why the subprime problems led to a liquidity crisis affecting the financial industry not just in the United States but worldwide. Finally, Dr. Sabry reviewed the types of lawsuits and allegations that have been filed to date against lenders, investors, appraisers, accounting firms, rating agencies, and others.

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