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Gifts, down payments, and housing affordability

Mayer, Christopher J.; Engelhardt, Gary V. - Federal Reserve Bank of Boston - 1994

Recent evidence shows that homeownership rates among young households have declined substantially since the mid 1980s. Although factors such as late household formation and the increasing user cost of housing are contributing factors, reduced affordability is also a concern. Aggregate data...

Persistent link: https://www.econbiz.de/10005379734

Can studies of application denials and mortgage defaults uncover taste-based discrimination?

Tootell, Geoffrey M. B. - Federal Reserve Bank of Boston - 1996

Several articles in the popular press have asserted that a simple comparison of average mortgage default rates for white and minority applicants is necessary and sufficient to uncover discrimination in mortgage lending. The fallacy of this assertion has been examined in Peterson (1981), Tootell...

Persistent link: https://www.econbiz.de/10005379797

Mortgage lending in Boston: interpreting HMDA data

Munnell, Alicia H. - Federal Reserve Bank of Boston - 1992

The results of this study indicate that minority applicants, on average, do have greater debt burdens, higher loan-to-value ratios, and weaker credit histories and they are less likely to buy single-family homes than white applicants, and that these disadvantages do account for a large portion...

Persistent link: https://www.econbiz.de/10005379802

Discrimination, redlining, and private mortgage insurance

Tootell, Geoffrey M.B. - Federal Reserve Bank of Boston - 1995

The existence of discrimination and/or redlining in mortgage lending has been debated intensively for years. Traditionally, the lender's role in credit availability has been scrutinized. Yet other institutions, specifically mortgage insurers, often help determine whether a mortgage is granted; if...

Persistent link: https://www.econbiz.de/10005713299

Reverse mortgages and the liquidity of housing wealth

Mayer, Christopher J.; Simons, Katerina - Federal Reserve Bank of Boston - 1993

The article is organized as follows: Section I briefly describes the features of various types of reverse mortgages … the Survey of Income and Program Participation (SIPP). Section IV analyzes the potential demand for reverse mortgages on … in developing an established market for reverse mortgages, including legal and regulatory barriers, as well as issues of …

Persistent link: https://www.econbiz.de/10005713326

Reviving mortgage securitization: lessons from the Brady Plan and duration analysis

Gumbau-Brisa, Fabià; Mann, Catherine L. - Federal Reserve Bank of Boston - 2009

We review the period of the Latin American debt crisis in order to draw policy analogies from that experience for current U.S. credit securitization markets. During the earlier episode the Brady Plan used a zero-coupon U.S. Treasury security to provide a credit enhancement for the troubled...

Persistent link: https://www.econbiz.de/10005065496

Why don't lenders renegotiate more home mortgages?: redefaults, self-cures, and securitization

Adelino, Manuel; Gerardi, Kristopher; Willen, Paul S. - Federal Reserve Bank of Boston - 2009

We document the fact that servicers have been reluctant to renegotiate mortgages since the foreclosure crisis started …

Persistent link: https://www.econbiz.de/10005065497

What explains differences in foreclosure rates?: a response to Piskorski, Seru, and Vig

Adelino, Manuel; Gerardi, Kristopher; Willen, Paul S. - Federal Reserve Bank of Boston - 2010

foreclosure rates as a measure of renegotiation and argue that explicitly using modification rates of delinquent mortgages is a …

Persistent link: https://www.econbiz.de/10008489234

$1.25 Trillion is still real money : some facts about the effects of the Federal Reserve’s mortgage market investments

Fuster, Andreas; Willen, Paul S. - Federal Reserve Bank of Boston - 2010

originations for refinance mortgages, but not purchase mortgages. Finally, we show that more creditworthy borrowers were …

Persistent link: https://www.econbiz.de/10008643741

Early lessons from recent financial turmoil.

Rosengren, Eric S. - Federal Reserve Bank of Boston - 2008

Presented by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for the South Shore Chamber of Commerce, Quincy, MA, March 6, 2008

Persistent link: https://www.econbiz.de/10010726527