Study Finds Differences Between 1998, 2007 Subprime Meltdowns.

The article discusses the differences between 1998 and 2007 subprime delinquencies as inflicted in paper entitled "The Subprime Meltdown, A Primer," issued by NERA Economic Consulting in New York. The paper was written by NERA vice president Faten Sabry and consultant Thomas Schopflocher which depicts the 1998 crisis caused by debt default of Russia aided by lower interest rates and mortgage loan prepayments and refinancings. It was discussed the litigation including homeowners vs. conduits.