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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

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

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

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

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

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

A preliminary assessment of the TALF

Dudley, William - Federal Reserve Bank of New York - 2009

Remarks at the Securities Industry and Financial Markets Association and Pension Real Estate Association's Public-Private Investment Program Summit, New York City.

Persistent link: https://www.econbiz.de/10010724933