Home appraisals are produced for millions of residential mortgage transactions each year, but appraised values are … institutional framework that governs mortgage lending lead to information loss in appraisals (that is, appraisals set equal to the … incidence of mortgage default at loan-to-value boundaries (notches) above which mortgage insurance rates increase. Appraisals …

mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using … declines in the homeownership rates …

The Great Recession led to widespread mortgage defaults, with borrowers resorting to both foreclosures and short sales …

This paper assesses the relative importance of two key drivers of mortgage default: negative equity and illiquidity. To … do so, the authors combine loan-level mortgage data with detailed credit bureau information about the borrower's broader … authors find that both negative equity and illiquidity are significantly associated with mortgage default, with comparably …

individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …

Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth without moving. Despite growth in …

Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth without moving. In spite of …

Ten years after the mortgage crisis, the U.S. housing market has rebounded significantly with house prices now near the … peak achieved during the boom. Homeownership rates, on the other hand, have continued to decline. We reconcile the two … homeownership rates between 2007 and 2014. We further demonstrate that institutional investors contributed to the improvement in the …