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This chapter considers the structure of mortgage finance in the United States and its role in shaping patterns of … on the design features of mortgage contracts that distinguish them from other loans and that have important implications … for issues presented in the rest of the chapter. We then explain how mortgage finance interacts with public policy …
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"The Home Owners' Loan Corporation purchased more than a million delinquent mortgages from private lenders between 1933 and 1936 and refinanced the loans for the borrowers. Its primary goal was to break the cycle of foreclosure, forced property sales and decreases in home values that was...
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