Background Note | HBS Case Collection | February 1997

Savings and Loans and the Mortgage Markets

by Robert C. Merton and Alberto Moel


Provides a brief overview of the history of the savings and loans, the savings and loans crisis of the 1980s and 1990s, and the creation of the mortgage markets in the United States. Also explains briefly the most common types of mortgage-backed securities available.

Keywords: History; Debt Securities; Markets; Mortgages; United States;


Merton, Robert C., and Alberto Moel. "Savings and Loans and the Mortgage Markets." Harvard Business School Background Note 297-090, February 1997.