that entered foreclosure. The CFPLs had minimal adverse side effects on the availability of mortgage credit for new … time costs of foreclosure. We estimate that the California Foreclosure Prevention Laws (CFPLs) prevented 250,000 California … foreclosures (a 20% reduction) and created $300 billion in housing wealth. The CFPLs boosted mortgage modifications and reduced …

their households after their mortgage has been foreclosed. We study the post-foreclosure experience of U.S. households using … a unique dataset based on the credit reports of a large panel of individuals to from 1999 to 2010. Although foreclosure … considerably raises the probability of moving, the majority of post-foreclosure migrants do not end up in substantially less …

We employ empirical pricing models for mortgage-backed security (MBS) yields and for mortgage rates to measure … announced on November 25, 2008 and completed on March 31, 2010 -- affected risk premiums that were embedded in mortgage and swap … backing for mortgage markets in particular and for the financial system more generally, reduced mortgage rates by about 85 …

policy. We look for this special role by examining the business strategies of banks as it relates to mortgage funding and … mortgage lending. "Traditional banks" have a large supply of excess core deposits and specialize in information …-intensive lending to borrowers (which is proxied here using mortgage lending in subprime communities), whereas "market-based banks" are …

Past research argues that changes in adjustable-rate mortgage (ARM) payments may lead households to cut back on … constrained. Although the demographic and financial characteristics of ARM and fixed-rate mortgage (FRM) borrowers are quite …

equilibrium mortgage loan terms in the period from 2003 to 2007. The technique is designed to eliminate sources of bias that may …

equilibrium mortgage loan terms in the period from 2003 to 2007. The technique is designed to eliminate sources of bias that may …

We provide an empirical analysis of the effects of the Federal Reserve's asset holdings on MBS yields and mortgage … rates. We argue that understanding the particulars of the U.S. mortgage markets, particularly the linkages between the … secondary and primary mortgage markets, is important. We find evidence that the Federal Reserve's portfolio holdings influence …

. From 2009:Q3 to 2011:Q3, aggregate household debt declined by about $1.5 trillion in real terms, with mortgage debt falling … individual credit records to better understand why mortgage debt has declined. I decompose changes in aggregate mortgage debt … over two-year periods spanning the past decade into inflows (from individuals whose mortgage debt increases during a given …

The U.S. mortgage crisis that began in 2007 generated questions about the role played by Fannie Mae and Freddie Mac … the UAG on the GSEs' whole single-family mortgage purchases during peak years for the subprime mortgage market. Under the …