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    block this user Jason E. Thomas

    Associate Professor

    Concordia University, Grand Canyon University, University of Phoenix, Austin, TX
    Concordia University Texas
    Grand Canyon University
    University of Phoenix

    Lessons Learned in Management, Marketing, Sales, and Finance Incentive Practices a Decade after the Subprime Mortgage Crisis

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    The subprime mortgage crisis was the most devastating financial crisis since the Great Depression. The steady rise of housing purchases and seemingly limitless increase in home values drew many investors to the United States real estate market. The business growth in this sector was so compelling that financial firms created new secondary markets that were perceived as diversifying risk, which in turn prompted lenders to create innovative funding vehicles and loose and fast loan qualification processes. The federal government was ill prepared to deal with this shift in the financial world to market-based demand, and the results were disastrous. Lenders embraced predatory lending practices, borrowers with bad credit overextended themselves beyond their means, and foreclosures occurred at startling rates as home values plummeted, resulting in a world-wide economic depression. Ten years later, we reflect on the events that led up to and caused the subprime mortgage crisis for lessons learned to improve management, marketing, and finance incentive practices.

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    Title : Lessons Learned in Management, Marketing, Sales, and Finance Incentive Practices a Decade after the Subprime Mortgage Crisis
    Author(s) : Jason E. Thomas
    Abstract : The subprime mortgage crisis was the most devastating financial crisis since the Great Depression. The steady rise of housing purchases and seemingly limitless increase in home values drew many investors to the United States real estate market. The business growth in this sector was so compelling that financial firms created new secondary markets that were perceived as diversifying risk, which in turn prompted lenders to create innovative funding vehicles and loose and fast loan qualification processes. The federal government was ill prepared to deal with this shift in the financial world to market-based demand, and the results were disastrous. Lenders embraced predatory lending practices, borrowers with bad credit overextended themselves beyond their means, and foreclosures occurred at startling rates as home values plummeted, resulting in a world-wide economic depression. Ten years later, we reflect on the events that led up to and caused the subprime mortgage crisis for lessons learned to improve management, marketing, and finance incentive practices.
    Keywords : Finance, business, marketing, management, sales, incentives, management incentives, marketing incentives, finance incentives, subprime mortgage crisis

    Subject : Subprime Mortgate Crisis
    Area : Business administration
    Language : English
    Year : 2017

    Affiliations Concordia University Texas
    Editors : Allison Humphries
    Department : School of Business Communications
    University : Concordia UniversityTexas
    Journal : International Journal of Business and Management
    Volume : 12
    Issue : 3
    Publisher : Canadian Center of Science and Education
    City : Toronto
    Pages : 19-26
    Doi : :10.5539/ijbm.v12n3p19
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