We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using …

.5 trillion over the next five. Despite clear signs of strain in the FHA's Mutual Mortgage Insurance Fund, a recent actuarial … available from mortgage delinquency; and it ignores potential risks associated with recent down-payment assistant programs …

This paper explores the practice of mortgage refinancing in a dynamic competitive lending model with risky borrowers … prevents the mortgage pools from becoming disproportionately composed of the riskiest borrowers over time. Mortgages with … prepayment penalties allow lenders to lower mortgage rates and extend credit to the least creditworthy, with the largest benefits …

We assess the credit market impact of allowing mortgage "strip-down"--that is, reducing the principal of underwater … provided by a series of U.S. Circuit Court of Appeals decisions in the early 1990's that introduced mortgage strip-down in … Court decision led to a short-term reduction of 3% in mortgage interest rates and a short-term increase of 1% in mortgage …

This paper argues that the U.S. bankruptcy reform of 2005 played an important role in the mortgage crisis and the … consequence of the reform was to cause mortgage default rates to rise. We estimate a hazard model to test whether the 2005 … bankruptcy reform caused mortgage defaults to rise, using a large dataset of individual mortgages. Our major result is that prime …