Purpose: The past century and a quarter can be divided into three successive eras for homeownership policy characterization. For the first four decades, the federal government pursued a laissez-faire policy that left housing issues to the individual states and private markets. For the next six...

Purpose The problem in alleviating homeowner mortgage distress through refinance is how to achieve meaningful alleviation without prospectively harming the financier. The problem revolves around two parameters from real estate finance – the probability that the distress leads to foreclosure...

Purpose – The development of standardized fixed-income securities and organized secondary markets in which to price and trade the securities is a widely recognized factor in the emergence of modern developed economies. However, the ongoing global financial crisis has exposed the existence of a...