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Did Capital Requirements and Fair Value Accounting Spark Fire Sales in Distressed Mortgage-Backed Securities?
Merrill, Craig B. - 2012
Much attention has been paid to the large decreases in value of non-agency residential mortgage-backed securities (RMBS …
Persistent link: https://www.econbiz.de/10012460390
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How Monetary Policy Shaped the Housing Boom
Drechsler, Itamar - 2019
housing boom accelerated, fueled by rapid growth in mortgage lending. There is deep disagreement about how, or even if …-prone, which made the mortgage market fragile. Consistent with our theory, the re-emergence of privately-securitized mortgages has …
Persistent link: https://www.econbiz.de/10012479600
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How Do Foreclosures Exacerbate Housing Downturns?
Guren, Adam M. - 2019
This paper uses a structural model to show that foreclosures played a crucial role in exacerbating the recent housing bust and to analyze foreclosure mitigation policy. We consider a dynamic search model in which foreclosures freeze the market for non-foreclosures and reduce price and sales...
Persistent link: https://www.econbiz.de/10012480160
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Neglected No More : Housing Markets, Mortgage Lending, and Sea Level Rise
Keys, Benjamin J. - 2020
In this paper, we explore dynamic changes in the capitalization of sea level rise (SLR) risk in housing and mortgage … reconcile these patterns, as we show that both all-cash and mortgage-financed purchases have similarly contracted, with little …
Persistent link: https://www.econbiz.de/10012482150
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Repairing a Mortgage Crisis : HOLC Lending and its Impact on Local Housing Markets
Courtemanche, Charles - 2010
The Home Owners' Loan Corporation purchased more than a million delinquent mortgages from private lenders between 1933 and 1936 and refinanced the loans for the borrowers. Its primary goal was to break the cycle of foreclosure, forced property sales and decreases in home values that was...
Persistent link: https://www.econbiz.de/10012462410
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Can Cheap Credit Explain the Housing Boom?
Glaeser, Edward L. - 2010
-to-value levels and permissive mortgage approvals. We revisit the standard user cost model of housing prices and conclude that the …
Persistent link: https://www.econbiz.de/10012462425
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Mortgage Default, Foreclosure, and Bankruptcy
Li, Wenli - 2009
In this paper we examine the relationship between homeowners' bankruptcy decisions and their mortgage default decisions …
Persistent link: https://www.econbiz.de/10012463177
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The Subprime Crisis and House Price Appreciation
Goetzmann, William N. - 2009
substantiates both supply and demand effects of past price trends in housing markets, particularly with respect to subprime mortgage …
Persistent link: https://www.econbiz.de/10012463316
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House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis
Mian, Atif R. - 2009
Using individual-level data on homeowner debt and defaults from 1997 to 2008, we show that borrowing against the increase in home equity by existing homeowners is responsible for a significant fraction of both the sharp rise in U.S. household leverage from 2002 to 2006 and the increase in...
Persistent link: https://www.econbiz.de/10012463368
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The Political Economy of the U.S. Mortgage Default Crisis
Mian, Atif - 2008
during the crisis. Representatives from districts experiencing an increase in mortgage default rates are significantly more … likely to vote in favor of the AHRFPA. They are precise in responding only to mortgage related constituent defaults, and are …
Persistent link: https://www.econbiz.de/10012464179