At one time, prime and subprime RMBS were traded in separate markets. Why?
What will be an ideal response?
The nonagency RMBS market is divided into the private-label RMBS market and subprime RMBS market. Private-label RMBS, also referred to as prime or residential deals, are backed by prime mortgage loans; subprime RMBS are backed by subprime loans and prior to 2007 commonly classified as part of the asset-backed securities sector and referred to as mortgage-related
asset-backed securities. Due to this (pre-2007) classification, prime and subprime RBS were traded in separate markets.
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An accord is a compromise reached between two parties to settle a claim
Indicate whether the statement is true or false