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It's a Wonderful Loan : A Short History of Building and Loan Associations, No. 19-01

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It's a Wonderful Loan : A Short History of Building and Loan Associations, No. 19-01

DATE: January 2019

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ABSTRACT: Prior to the advent of modern home mortgage markets in the United States, markets in which mortgage-backed securities and government-sponsored enterprises now play significant roles, prospective homebuyers had to rely on other mechanisms of home finance. For about a century, cooperative organizations known as building and loan associations, a concept imported from Britain, served millions of American savers and homebuyers.

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Price, David A. , Walter, John R. and Federal Reserve Bank of Richmond. "It's a Wonderful Loan : A Short History of Building and Loan Associations, No. 19-01," Economic Brief (January 2019). https://fraser.stlouisfed.org/title/6034/item/583980, accessed on September 22, 2023.

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