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Hurst, Erik (contributor); Willen, Paul (contributor) - 2004

Most young households simultaneously hold both unsecured debt on which they pay an average of 10 percent interest and social security wealth on which they earn less than 2 percent. We document this fact using data from the Panel Study of Income Dynamics. We then consider a life-cycle model with...

Persistent link: https://www.econbiz.de/10002560061

Real estate and the credit crunch : proceedings of a conference held at Melvin Village, New Hampshire, September 1992

Browne, Lynn Elaine (ed.); Rosengren, Eric S. (contributor) - 1992

Persistent link: https://www.econbiz.de/10013452323

Securitization and moral hazard: evidence from credit score cutoff rules

Bubb, Ryan; Kaufman, Alex - Federal Reserve Bank of Boston - 2011

Mortgage originators use credit score cutoff rules to determine how carefully to screen loan applicants. Recent …

Persistent link: https://www.econbiz.de/10009321067

Further investigations into the origin of credit score cutoff rules

Bubb, Ryan; Kaufman, Alex - Federal Reserve Bank of Boston - 2011

Keys, Mukherjee, and Vig (2010a) argue that the evidence presented in Bubb and Kaufman (2009) is based on an inappropriate pooling of loans sold to private-label securitizers with loans sold to the government sponsored enterprises (GSEs). In this paper we investigate the issues raised by the...

Persistent link: https://www.econbiz.de/10009366945

Why did so many people make so many ex post bad decisions?: the causes of the foreclosure crisis

Foote, Christopher L.; Gerardi, Kristopher S.; Willen, … - Federal Reserve Bank of Boston - 2012

This paper presents 12 facts about the mortgage market. The authors argue that the facts refute the popular story that … the crisis resulted from financial industry insiders deceiving uninformed mortgage borrowers and investors. Instead, they … beliefs about house prices. The authors then show that neither institutional features of the mortgage market nor financial …

Persistent link: https://www.econbiz.de/10010551264

The mortgage meltdown: implications for credit availability.

Rosengren, Eric S. - Federal Reserve Bank of Boston - 2008

Discussion by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the U.S. Monetary Policy Forum, New York, NY, February 29, 2008

Persistent link: https://www.econbiz.de/10010726551

Housing and the economy: perspectives and possibilities.

Rosengren, Eric S. - Federal Reserve Bank of Boston - 2009

Massachusetts Mortgage Bankers Association 2009 Annual Dinner, January 8, 2009 …

Persistent link: https://www.econbiz.de/10010726558

Monetary policy and the mortgage market

Rosengren, Eric S. - Federal Reserve Bank of Boston - 2012

between Primary and Secondary Mortgage Rates: Recent Trends and Prospects workshop, New York, New York, December 3, 2012. …

Persistent link: https://www.econbiz.de/10010726581

Your house or your credit card, which would you choose?: personal delinquency tradeoffs and precautionary liquidity motives

Cohen-Cole, Ethan; Morse, Jonathan - Federal Reserve Bank of Boston - 2009

This paper finds strong evidence that many individuals choose to pay credit card bills even at the cost of mortgage … decision. That is, choosing credit cards over housing suggests a precautionary liquidity preference. ; By linking the mortgage … the predicted probability of mortgage default that is similar in both direction and magnitude to a one standard deviation …

Persistent link: https://www.econbiz.de/10008627102

What explains differences in foreclosure rates?: a response to Piskorski, Seru, and Vig

Adelino, Manuel; Gerardi, Kristopher; Willen, Paul S. - Federal Reserve Bank of Boston - 2010

In this note we discuss the findings in Piskorski, Seru, and Vig (2010), as well as the authors' interpretation of their results. First, we find that small changes to the set of covariates used by PSV significantly reduce the magnitude of the differences in foreclosure rates between securitized...

Persistent link: https://www.econbiz.de/10008489234