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Responding to the housing and financial crises: mortgage lending, mortgage products and government policies

Scanlon, Kathleen; Lunde, Jens; Whitehead, Christine M. E. - London School of Economics (LSE) - 2011

The long period of house price growth in markets across the world ended with the US and global financial crisis of 2007/08. The crisis and the consequent recession had profound effects on mortgage market actors – including households, institutions and governments – in most advanced...

Persistent link: https://www.econbiz.de/10010744864

WP 2008-4 Recession and rebalancing – An analysis of the credit crunch and global imbalances using a simple global model of the real side

Armin, Rudiger von - Bernard Schwartz Center for Economic Policy Analysis … - 2008

Persistent link: https://www.econbiz.de/10005795525

Resolving Residential Mortgage Distress: Time to Modify?

Andritzky, Jochen R. - International Monetary Fund (IMF) - 2014

In housing crises, high mortgage debt can feed a vicious circle of falling housing prices and declining consumption and incomes, leading to higher mortgage defaults and deeper recessions. In such situations, resolution policies may need to be adapted to help contain negative feedback loops while...

Persistent link: https://www.econbiz.de/10011105399

Foreclosure spillovers within broad neighborhoods

Huang, Weiran; Ross, Stephen L.; Nelson, Ashlyn Aiko - 2018

Persistent link: https://www.econbiz.de/10011965246

Banks' Liability Structure and Mortgage Lending During the Financial Crisis

Dagher, Jihad; Kazimov, Kazim - International Monetary Fund (IMF) - 2012

We examine the impact of banksâ€™ exposure to market liquidity shocks through wholesale funding on their supply of credit during the financial crisis in the United States. We focus on mortgage lending to minimize the impact of confounding demand factors that could potentially be large when...

Persistent link: https://www.econbiz.de/10011142090

How to Manage the Mortgage Credit Risk in Turkey? Can Dual-indexed Mortgages be a Remedy?

Alp, Ali; Doganay, M. Mete - In: Istanbul Stock Exchange Review 9 (2007) 35, pp. 1-10

different types of mortgages that have been used in developed and developing countries to select the one that is most …

Persistent link: https://www.econbiz.de/10010764137

Global Housing Cycles

Igan, Deniz; Loungani, Prakash - International Monetary Fund (IMF) - 2012

Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements....

Persistent link: https://www.econbiz.de/10010790415

Mortgage product innovation in advanced economies: more choice, more risk

Scanlon, Kathleen; Lunde, Jens; Whitehead, Christine M. E. - London School of Economics (LSE) - 2008

has worsened. It is in this context that the standard annuity mortgage is increasingly being supplanted by mortgages with … a standard product. Moreover, such mortgages can also be more risky: the interest-only borrower does not accumulate … market share of mortgages with these new features. It analyses trends over the last ten years and discusses the risks of …

Persistent link: https://www.econbiz.de/10010745801

Boom-Bust Cycles in Housing; The Changing Role of Financial Structure

Schnure, Calvin - International Monetary Fund (IMF) - 2005

Why are housing markets so prone to boom-bust cycles? The mortgage market structure prior to the Savings and Loan crisis contributed to the volatility in real housing activity which, in turn, amplified the volatility in housing prices. The subsequent development of a national, market-based...

Persistent link: https://www.econbiz.de/10005768726

Credit Booms and Lending Standards; Evidence From the Subprime Mortgage Market

Dell'Ariccia, Giovanni; Laeven, Luc; Igan, Deniz - International Monetary Fund (IMF) - 2008

This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying...

Persistent link: https://www.econbiz.de/10005769083