Origins and expansion of mortgage crisis

The article reviews origins and expansion of mortgage crisis. The latter financial crisis found out to be unique as to losses, scale of recession, global coverage. Although the crisis had financial origins it becomes truly crisis of the global economy. The paper covers the following reasons and origins of the crisis: risk assessment problems in banks, underestimation of credit risk, realty owner failed to pay mortgage payments, the regulator failed to sustain interbank credit market. The possibilities of the new mortgage crisis pointed out in the paper