Narrow search
Showing 1 - 10 of 153
Cover Image
Securitization and the fixed-rate mortgage
Fuster, Andreas; Vickery, James - Federal Reserve Bank of New York - 2013
Fixed-rate mortgages (FRMs) dominate the U.S. mortgage market, with important consequences for household risk … freezes, the share of FRMs is sharply higher among mortgages eligible to be securitized through the still-liquid agency MBS … rate risk embedded in these loans. We highlight policy implications for ongoing reform of the U.S. mortgage finance system. …
Persistent link: https://www.econbiz.de/10010604287
Cover Image
Opening remarks at The Spread between Primary and Secondary Mortgage Rates: Recent Trends and Prospects Workshop
Dudley, William C. - Federal Reserve Bank of New York - 2012
Remarks at The Spread between Primary and Secondary Mortgage Rates: Recent Trends and Prospects Workshop, New York City.
Persistent link: https://www.econbiz.de/10010724956
Cover Image
Testimony on housing finance reform: essential elements of a government guarantee for mortgage-backed securities
Tracy, Joseph S. - Federal Reserve Bank of New York - 2013
Testimony before the U.S. Senate Committee on Banking, Housing and Urban Affairs, Washington, D.C.
Persistent link: https://www.econbiz.de/10010725003
Cover Image
MBS ratings and the mortgage credit boom
Ashcraft, Adam; Goldsmith-Pinkham, Paul; Vickery, James - Federal Reserve Bank of New York - 2010
underperformance (high mortgage defaults and losses and large rating downgrades) among deals with observably higher risk mortgages …
Persistent link: https://www.econbiz.de/10008493882
Cover Image
The capital structure and governance of a mortgage securitization utility
Mosser, Patricia C.; Tracy, Joseph; Wright, Joshua - Federal Reserve Bank of New York - 2013
We explore the capital structure and governance of a mortgage-insuring securitization utility operating with government reinsurance for systemic or “tail” risk. The structure we propose for the replacement of the GSEs focuses on aligning incentives for appropriate pricing and transfer of...
Persistent link: https://www.econbiz.de/10011027203
Cover Image
TBA trading and liquidity in the agency MBS market
Vickery, James; Wright, Joshua - Federal Reserve Bank of New York - 2010
Most mortgages in the United States are securitized through the agency mortgage-backed-securities (MBS) market. These … liquidity, leading to lower borrowing costs for households. Evaluation of potential reforms to the U.S. housing finance system …
Persistent link: https://www.econbiz.de/10008643781
Cover Image
Predatory lending laws and the cost of credit
Ho, Giang; Pennington-Cross, Anthony - Federal Reserve Bank of St. Louis - 2006
Persistent link: https://www.econbiz.de/10005360550
Cover Image
The duration of foreclosures in the subprime mortgage market: a competing risks model with mixing
Pennington-Cross, Anthony - Federal Reserve Bank of St. Louis - 2006
This paper examines what happens to mortgages in the subprime mortgage market once foreclosure proceeding are initiated …
Persistent link: https://www.econbiz.de/10005352764
Cover Image
The efficiency of residential mortgage guarantee insurance markets
Allen, Donald S.; Chan, Thomas S. - Federal Reserve Bank of St. Louis - 1997
Mortgage Guarantee Insurance (MGI) provides protection to lenders against default by borrowers who have less than 20 percent equity interest in the mortgaged property. The existence of this form of insurance helps to stimulate home ownership by allowing consumers with less than twenty percent...
Persistent link: https://www.econbiz.de/10005352802
Cover Image
Conjectural guarantees loom large: evidence from the stock returns of Fannie Mae and Freddie Mac
Schmid, Frank A. - Federal Reserve Bank of St. Louis - 2003
Fannie Mae and Freddie Mac are government sponsored enterprises (GSEs) with publicly traded equity. Although these companies hold government issued charters, their securities are not legally backed by the full faith and credit of the United States government. Yet, investors and rating agencies...
Persistent link: https://www.econbiz.de/10005352899