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The role of securitization in mortgage renegotiation

Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2011

We study the effects of securitization on renegotiation of distressed residential mortgages over the current financial … 36% more likely to be renegotiated than comparable securitized mortgages (4.2 to 5.7% in absolute terms). Also …

Persistent link: https://www.econbiz.de/10010292147

Market-Based loss mitigation practices for troubled mortgages following the financial crisis

Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2010

show that the majority of delinquent mortgages do not enter any loss mitigation program or become a part of foreclosure …

Persistent link: https://www.econbiz.de/10010292190

The 2008 federal intervention to stabilize Fannie Mae and Freddie Mac

Frame, W. Scott - 2009

the reliability of residential mortgage finance in the wake of the subprime mortgage crisis. This paper describes the …

Persistent link: https://www.econbiz.de/10010292336

Equilibrium mortgage choice and housing tenure decisions with refinancing

Chambers, Matthew S.; Garriga, Carlos; Schlagenhauf, Don - 2007

The last decade has brought about substantial mortgage innovation and increased refinancing. The objective of this paper is to understand the determinants and implications of mortgage choice in the context of a general equilibrium model with incomplete markets. The equilibrium characterization...

Persistent link: https://www.econbiz.de/10010292368

Mortgages and monetary policy

Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2015

Mortgages are prime examples of long-term nominal loans. As a result, under incomplete asset markets, monetary policy …, have larger real effects than transitory shocks. The transmission is stronger under adjustable- than fixed-rate mortgages …

Persistent link: https://www.econbiz.de/10011381008

Spatial Lock-in: Do Falling House Prices Constrain Residential Mobility?

Chan, Sewin - 1998

down payment. A data set of mortgages is used to examine the magnitude of these constraints. Estimates show that average …

Persistent link: https://www.econbiz.de/10010334368

Why do borrowers make mortgage refinancing mistakes?

Agarwal, Sumit; Rosen, Richard J.; Yao, Vincent - 2013

Refinancing a mortgage is often one of the biggest and most important financial decisions that people make. Borrowers need to choose the interest rate differential at which to refinance and, when that differential is reached, they need to take the steps to refinance before rates change again....

Persistent link: https://www.econbiz.de/10010352189

Unconventional monetary policy and risk-taking: Evidence from agency mortgage REITs

Frame, W. Scott; Steiner, Eva - 2018

We study how the Federal Reserve's quantitative easing (QE) influenced the behavior of Agency mortgage real estate investment trusts (REITs) - a set of institutions identified by the Financial Stability Oversight Council as posing systemic risk. We document that Agency mortgage REITs: [i] equity...

Persistent link: https://www.econbiz.de/10012030274

Villains or scapegoats? The role of subprime borrowers in driving the U.S. housing boom

Conklin, James; Frame, W. Scott; Gerardi, Kristopher; … - 2018

purchase mortgages to subprime borrowers. We also document that the expansion in speculative mortgage products and underwriting …

Persistent link: https://www.econbiz.de/10012030276

The long-run effects of the 1930s redlining maps on children

Aaronson, Daniel; Mazumder, Bhashkar; Hartley, Daniel; … - 2022

We estimate the long-run effects of the 1930s Home Owners Loan Corporation (HOLC) redlining maps by linking children in the full count 1940 Census to 1) the universe of IRS tax data in 1974 and 1979 and 2) the long form 2000 Census. We use two identification strategies to estimate the potential...

Persistent link: https://www.econbiz.de/10013364534