Mortgage Finance Markets: Lessons from the Past and Keys to the Future

This special section of the journal provides an empirical examination of the mortgage market to help identify key market participants, how incentives affected behavior, and how participation in the market changed over time. The findings will help to identify lessons that can be applied to the regulation and structure of the mortgage finance industry in the future. In particular the research examines loan product choice in the subprime market under different regulatory regimes, mortgage broker compensation market penetration, and the changing role of the Federal Housing Authority (FHA). Copyright International Atlantic Economic Society 2012