Mortgage loans are a striking example of a persistent nominal rigidity. As a result, under incomplete markets, monetary … policy affects decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. Observed …

attributes of Congressional Representatives were associated with access to and pricing of subprime mortgage credit. Research … findings indicate higher likelihoods of subprime loan origination and lower mortgage pricing among borrowers represented by the … same districts. Also, borrowers received mortgage interest rate discounts in districts where New Century donated to the …

of recent U.S. house price appreciation and subsequent mortgage defaults. We identify the effect of shifts in the supply … of mortgage credit by exploiting within-county variation across zip codes that differed in latent demand for mortgages in … which we refer to as "disintermediation." The increase in disintermediation-driven mortgage supply to high latent demand zip …

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 …

This paper examines how high cost mortgage lending varies by race and ethnicity. It uses a unique panel data that … loans for African-American and Hispanic borrowers even after controlling for key mortgage risk factors: they have a 7.7 and … sorting across) mortgage lenders. …

This paper explores the causes and consequences of cross-country variation in mortgage market structure. It draws on …. It discusses lessons from the credit boom, the challenges of mortgage modification in the aftermath of the boom, consumer … financial protection, and alternative mortgage forms and funding models. The paper argues that the US has much to learn from …

mortgage choices to finance the acquisition of a house. The government also provides special programs through provisions of the … policies have significant importance. For example, the expansion in maturity of the fixed-rate mortgage to 30 years can account … for 12 percent of the increase. Housing policies, such as the introduction of the mortgage interest deduction or the …