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A Crisis of Missed Opportunities? Foreclosure Costs and Mortgage Modification During the Great Recession

Gabriel, Stuart A.; Iacoviello, Matteo; Lutz, Chandler - 2020

We investigate the impact of Great Recession policies in California that substantially increased lender pecuniary and time costs of foreclosure. We estimate that the California Foreclosure Prevention Laws (CFPLs) prevented 250,000 California foreclosures (a 20% reduction) and created $300...

Persistent link: https://www.econbiz.de/10014048824

Can more housing supply solve the affordability crisis? : evidence from a neighborhood choice model

Anenberg, Elliot; Kung, Edward - 2018

We estimate a neighborhood choice model using 2014 American Community Survey data to investigate the degree to which new housing supply can improve housing affordability. In the model, equilibrium rental rates are determined so that the number of households choosing each neighborhood is equal to...

Persistent link: https://www.econbiz.de/10011932213

The effect of interest rates on home buying : evidence from a discontinuity in mortgage insurance premiums

Bhutta, Neil; Ringo, Daniel - 2017

We study the effect of interest rates on the housing market by taking advantage of a sudden and unexpected price change in a large government mortgage program. The Federal Housing Administration (FHA) insures most mortgages to lower-downpayment, lower credit score borrowers, including a majority...

Persistent link: https://www.econbiz.de/10011710175

Student Loans and Homeownership

Mezza, Alvaro - 2017

We estimate the effect of student loan debt on subsequent homeownership in a uniquely constructed administrative … lowers the homeownership rate by about 1.5 percentage points for public 4-year college-goers during their mid 20s, equivalent … to an average delay of 2.5 months in attaining homeownership. Validity tests suggest that the results are not confounded …

Persistent link: https://www.econbiz.de/10012970032

What are the Perceived Barriers to Homeownership for Young Adults?

Larrimore, Jeff - 2016

declining interest in homeownership, especially among younger households. Potential reasons that have been posited include tight … homeownership for households with heads under age 40. However, it appears that young households' perceived barriers to homeownership …

Persistent link: https://www.econbiz.de/10013210378

The Determinants of Subprime Mortgage Performance Following a Loan Modification

Schmeiser, Maximilian D. - 2015

We examine the evolution of mortgage modification terms obtained by distressed subprime borrowers during the recent housing crisis, and the effect of the various types of modifications on the subsequent loan performance. Using the CoreLogic LoanPerformance dataset that contains detailed loan...

Persistent link: https://www.econbiz.de/10013028633

The Government-Sponsored Enterprises and the Mortgage Crisis : The Role of the Affordable Housing Goals

Bolotnyy, Valentin - 2012

The U.S. mortgage crisis that began in 2007 generated questions about the role played by Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSEs), in its causes. Some have claimed that the Affordable Housing Goals (AHGs), introduced by Congress through the GSE Act of 1992, and the...

Persistent link: https://www.econbiz.de/10013107370

The Government-Sponsored Enterprises and the Mortgage Crisis : The Role of the Affordable Housing Goals

Bolotnyy, Valentin - 2013

Persistent link: https://www.econbiz.de/10013091049

The impact of credit risk mispricing on mortgage lending during the subprime boom

Kahn, James A.; Kay, Benjamin S. - 2019

We provide new evidence that credit supply shifts contributed to the U.S. subprime mortgage boom and bust. We collect original data on both government and private mortgage insurance premiums from 1999-2016, and document that prior to 2008, premiums did not vary across loans with widely different...

Persistent link: https://www.econbiz.de/10012181334

Liquidity in the Mortgage Market : How Does the COVID-19 Crisis Compare with the Global Financial Crisis?

Pence, Karen M. - 2022

The liquidity strains that contributed to the meltdown of the mortgage market in the Global Financial Crisis (GFC) re-emerged in the Coronavirus 2019 (COVID-19) Crisis. Some of these strains were acute. For example, the dependence of mortgage real estate investment trusts (REITs) on short-term...

Persistent link: https://www.econbiz.de/10013404844