Fixed-rate mortgages (FRMs) dominate the U.S. mortgage market, with important consequences for monetary policy … mortgages are difficult to securitize. Our analysis exploits plausibly exogenous variation in access to liquid securitization … markets generated by a regulatory cutoff and time variation in private securitization activity. We interpret our findings as …

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 …

economic effects of mortgage securitization. We also assemble descriptive statistics about market size, growth, security … the MBS market and mortgage securitization …This paper reviews the mortgage-backed securities (MBS) market, with a particular emphasis on agency residential MBS in …

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 …

attention to the role of recent innovations such as non-prime mortgage securitization and reverse mortgages. The extent of …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 …

Mortgage modifications have become an important component of public interventions designed to reduce foreclosures. In … this paper, we examine how the structure of a mortgage modification affects the likelihood that the modified mortgage re …

This paper provides updated estimates of the impact of three financial frictions — negative equity, mortgage lock … percent, and $1,000 of additional mortgage or property tax costs reduces household mobility by 10 to 16 percent. Schulhofer …

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 …