1. The Current Financial Crisis: What is it, how do we get out of it and what does it mean to you? Sanjai Bhagat Chris Leach Ron Melicher Tom Thibodeau Monday, September 29 12:30 p.m. to 1:45 p.m. Koelbel Building, Room S125

2. Introduction

3. The Bailout (WSJ 29OCT2008)

4. The Role of the US Government The Government Sponsored Enterprises

6. The Role of the US Government Affordable Housing Goals

8. The Role of the US Government Homeownership Rates

9. Underwriting Mortgage Risk FICO and Underwriting Ratios

10. Underwriting Mortgage Risk Alt-A Borrowers: Low Doc/No Doc Loans

11. Mortgage Instruments Fixed Rate Mortgages

12. Mortgage Instruments Adjustable Rate Mortgages

13. Mortgage Instruments Hybrid Adjustable Rate Mortgages

14. Mortgage Instruments (Payment) Option Adjustable Rate Mortgages

16. Default

17. House Prices in Selected MSAs 1999:4 to 2008:2

18. MBS 101

19. MBS 101 The Anatomy of a RMBS

20. Agency and Private Label RMBS

21. Collateralized Debt Obligations (CDOs)

22. GSAMP Trust 2006-S3 Source: “House of Junk,” by Sloan (Fortune 29OCT2007)

24. The Koelbel Building - Leeds School of Business