On the expansion of the subprime market.

• Author: Rees, Matthew
• Position: Real estate and mortgage markets

"In 1994, 4.5 percent of the mortgage market was subprime and 31 percent of those subprime loans were securitized. By 2006, 20.1 percent of the entire mortgage market was subprime and 81 percent of those loans were securitized."

--Wall Street Journal, February 20

Matthew Rees...