Since the start of the financial crisis, we have seen an extraordinary lengthening of foreclosure timelines …, particularly in states that require judicial review to complete a foreclosure but also recently in nonjudicial states. Our analysis … of judicial foreclosure review. Consistent with previous studies, we find that judicial review imposes large costs with …

, the average foreclosure rate, and the distribution of home-equity ratios across homeowners prior to the recent boom and … mortgage crisis by studying the consequence of an unanticipated increase in the supply of housing (overbuilding shock). They … show that the model can account for the observed decline in house prices and much of the increase in the foreclosure rate …

negative force affecting house prices. The authors explore the possible effects of the government's foreclosure prevention …

This paper argues that the U.S. bankruptcy reform of 2005 played an important role in the mortgage crisis and the … unintended consequence of the reform was to cause mortgage default rates to rise. Using a large dataset of individual mortgages …, they estimate a hazard model to test whether the 2005 bankruptcy reform caused mortgage default rates to rise. Their major …

The state of Nevada passed legislation in 2009 that abolished deficiency judgments for purchase mortgage loans made … unique mortgage loan-level application and performance data, we find strong evidence that lenders tightened their lending … mortgages after implementation of the law. Borrowers, by contrast, did not delay their mortgage applications until after the law …

foreclosures. Foreclosure timelines — the length of time between initial mortgage delinquency and completion of foreclosure — also … serious financial stress. However, extended foreclosure timelines enable mortgage defaulters to live in their homes without … expanded significantly, averaging up to three years in some states. Most individuals undergoing foreclosure are experiencing …

In this study, we make use of a massive database of mortgage defaults to estimate REO liquidation timelines and time …-related costs resulting from the recent post-crisis interventions in the mortgage market and the freezing of foreclosures due to … be four percentage points higher in statutory foreclosure states, they are estimated to be 13 percentage points higher in …

Supersedes Working Paper 13-27. Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth …

During the housing crisis, it came to be recognized that inflated home mortgage appraisals were widespread during the … adopt the Home Valuation Code of Conduct (HVCC). Using unique data sets that contain both approved and nonapproved mortgage … applications, this study provides an empirical examination of the impact of the HVCC on appraisal and mortgage outcomes. The …