this model are consistent with preserving the “to-be-announced,” or TBA, market – particularly if the fixed-rate mortgage …

year while remaining seriously delinquent on their first mortgage. By comparison, about 40 percent of credit card borrowers … and 70 percent of auto loan borrowers will continue making payments a year after defaulting on their first mortgage …

Fixed-rate mortgages (FRMs) dominate the U.S. mortgage market, with important consequences for monetary policy …

We explore the capital structure and governance of a mortgage-insuring securitization utility operating with government … for appropriate pricing and transfer of mortgage risks across the private sector and between the private sector and the … mortgage guarantee fee, whose size we find is most sensitive to the required capital ratio and the expected return on that …

from renting to owning using an FHA-insured mortgage. In addition to calculating the fraction of these borrowers whose FHA … their homeownership without the need for an FHA mortgage. Another 20 percent are either in their original home or have moved … but continue to use an FHA mortgage …

Technology-based (“FinTech”) lenders increased their market share of U.S. mortgage lending from 2 percent to 8 percent … from 2010 to 2016. Using market-wide, loan-level data on U.S. mortgage applications and originations, we show that FinTech … lenders process mortgage applications about 20 percent faster than other lenders, even when controlling for detailed loan …

I study the effects of an increase in the supply of local mortgage credit on local house prices and employment by … dissatisfied retail customers from a large, universal bank, UBS, to homogeneous local mortgage lenders. Mortgage lenders located … in the geographic distance between UBS branches and local mortgage lenders as an instrument for deposit growth, I find …

into a lower-rate mortgage on borrower balance sheet outcomes. Refinancing substantially reduces borrower default rates on …

monetary policy through its effects on mortgage refinancing. Using detailed loan-level data, we show that regional differences … refinancing with both mortgage borrowers and lenders and use it to explore the aggregate implications for monetary policy arising …

This chapter considers the structure of mortgage finance in the U.S., and its role in shaping patterns of homeownership … the design features of mortgage contracts that distinguish them from other loans, and that have important implications for … issues presented in the rest of the chapter. We then explain how mortgage finance interacts with public policy, particularly …