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 …

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 …

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 of the modified mortgage re … through principal forgiveness as opposed to lower interest rates. -- Mortgage modifications ; subprime …

almost half of purchase mortgage originations were associated with investors. In part by apparently misreporting their …

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. …

a mortgage on borrower balance sheet outcomes. We find that on average, refinancing into a lower-rate mortgage reduced … the savings on mortgage payments. This number combines increases (new debts) of about 60 percent of the mortgage savings …

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