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GSEs, mortgage rates, and the long-run effects of mortgage securitization

Passmore, Wayne; Sparks, Roger; Ingpen, Jamie - Federal Reserve Board (Board of Governors of the … - 2001

illustrating that market structure, government sponsorship, and the characteristics of the mortgages securitized are all important … enhancements needed in the private sector. Using our simulation model, we demonstrate that when mortgages eligible for purchase by … the GSEs have characteristics similar to other mortgages, then implicit government backing generates differences in …

Persistent link: https://www.econbiz.de/10005394027

Credit scoring and mortgage securitization: do they lower mortgage rates?

Heuson, Andrea; Passmore, Wayne; Sparks, Roger - Federal Reserve Board (Board of Governors of the … - 2000

originators. The securitizer sets the price at which it will purchase mortgages and the credit score standard that qualifies a …

Persistent link: https://www.econbiz.de/10005721145

How the Federal Reserve's Large-Scale Asset Purchases (LSAPs) Influence Mortgage-Backed Securities (MBS) Yields and U.S. Mortgage Rates

Hancock, Diana; Passmore, Wayne - Federal Reserve Board (Board of Governors of the … - 2014

We conduct an empirical analysis of the Federal Reserve's large-scale asset purchases (LSAPs) on MBS yields and mortgage rates. The Federal Reserve's accumulation of MBS and Treasury securities lowered MBS yields and mortgage rates by more than what would have been suggested by changes in market...

Persistent link: https://www.econbiz.de/10010784167

Which Way to Recovery? Housing Market Outcomes and the Neighborhood Stabilization Program

Schuetz, Jenny; Spader, Jonathan; Buell, Jennifer Lewis; … - Federal Reserve Board (Board of Governors of the … - 2015

To help communities recover from the foreclosure crisis, Congress enacted a set of policies known as the Neighborhood Stabilization Program (NSP). NSP's objective was to mitigate the impact of foreclosures on neighboring properties, through reducing the stock of distressed properties and...

Persistent link: https://www.econbiz.de/10011273696

Regression discontinuity estimates of the effects of the GSE act of 1992

Bhutta, Neil - Federal Reserve Board (Board of Governors of the … - 2009

In this paper I estimate the effect of the Underserved Areas Goal (UAG) established under the “GSE Act”, a 1992 law mandating that the housing government-sponsored enterprises Fannie Mae and Freddie Mac help promote credit access and homeownership opportunities for low-income households and...

Persistent link: https://www.econbiz.de/10004965405

The role of race in mortgage lending: revisiting the Boston Fed study

Bostic, Raphael W. - Federal Reserve Board (Board of Governors of the … - 1997

This paper reexamines claims that non-economic discrimination persists in mortgage loan origination decisions. I find that racial differences in outcomes do exist, as minorities fare worse regarding debt-to-income requirements but better for loan-to-value requirements. Overall, significant...

Persistent link: https://www.econbiz.de/10005514147

Is mortgage lending by savings associations special?

Laderman, Elizabeth; Passmore, Wayne - Federal Reserve Board (Board of Governors of the … - 1998

In this paper, we investigate whether elimination of the savings association charter might reduce lending to nontraditional mortgage borrowers. We present a theoretical model of lender portfolio choice, in which nontraditional lenders have some market power and traditional lenders are...

Persistent link: https://www.econbiz.de/10005514164

Putting the squeeze on a market for lemons: government-sponsored mortgage securitization

Passmore, Wayne; Sparks, Roger - Federal Reserve Board (Board of Governors of the … - 1995

Persistent link: https://www.econbiz.de/10005393636

Estimates of home mortgage originations, repayments, and debt on one-to-four-family residences

Greenspan, Alan; Kennedy, James - Federal Reserve Board (Board of Governors of the … - 2005

of equity extraction from homes financed by mortgages. …

Persistent link: https://www.econbiz.de/10005393663

Clearance and settlement of mortgage-backed securities through the Participants Trust Company

Stehm, Jeff - Federal Reserve Board (Board of Governors of the … - 1992

Persistent link: https://www.econbiz.de/10005393735

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