Hints and tips:
...The Paces were among 10,507 borrowers whose home loans Countrywide packed into a set of securities called the CWABS Asset-Backed Certificates Trust 2005-11....
...Mortgages, packaged into asset-backed securities, were sold to off-balance sheet bank SIVs financed by short-term loans from money market funds....
...But the strategy proved destabilising in 2008, when lenders in the repo market lost confidence in mortgage-backed collateral and pulled back on funding....
...The funds were in- vested heavily in U.S. home-mortgage-backed securities that had become nearly impossible to value....
...completed buildings, as opposed to loans for “off-plan” property investments....
...supported the market for asset-backed securities, such as those backed by auto loans, credit card loans, small business loans, and student loans....
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