Revisiting the origins of the subprime crisis -- The costs of foreclosure and the racialized shape of the crisis -- The Federal government to the rescue? -- Regulating the mortgage market -- The housing finance debate -- The housing finance debate

The purpose of this paper is to lay out the range of responses to the foreclosure crisis in which local organizations have been engaged in recent years, providing a scheme for thinking about local responses to the crisis and the actors and organizations involved. It is also intended to help...

Foreclosed explains the rise of high-risk lending in the 1990s and early 200s and why these newer types of loans--and their associated regulatory infrastructure--failed in substantial ways, leading to the economic collapse of 2008.

The context for foreclosure prevention and mitigation hinges critically upon whether a state operates in a judicial or nonjudicial regime. Nonjudicial foreclosure regimes allow mortgage lenders to foreclose on homes without substantial court supervision. In these states, the time from the...

At various points in its history, the Federal Housing Administration (FHA) has had particularly large impacts on mortgage and housing markets in the U.S. During the early to middle 2000s, FHA lending dwindled to historically low shares of the mortgage market as subprime lending boomed, with some...

A key concern among policymakers and community developers in recent years has been the extent to which lender-owned homes, often called real estate owned or “REO” properties accumulate in different local housing markets during the mortgage crisis. This paper describes the accumulation of REO...