governmental mortgage guarantee plans, and greater reliance on private mortgage markets. The analysis also considers the likely … consequences of adopting alternative roles for government in the U.S. housing and mortgage markets. We start by reviewing the … history of the GSEs and their contributions to the operation of U.S. housing and mortgage markets, including the actions that …

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 …

How much of the recent rise in foreclosures can be explained by the large number of high-leverage mortgage contracts … originated during the housing boom? We present a model where heterogeneous households select from a set of mortgage contracts and … choose whether to default on their payments given realizations of income and housing price shocks. The set of mortgage …

This paper examines how high cost mortgage lending varies by race and ethnicity. It uses a unique panel data that … loans for African-American and Hispanic borrowers even after controlling for key mortgage risk factors: they have a 7.7 and … sorting across) mortgage lenders. …

We analyze a reform of insurance companies' capital requirements for mortgage-backed securities. First, credit ratings … require minimal capital. By 2012, aggregate capital requirements for mortgage-backed securities have been reduced from $19 …