Narrow search
Showing 1 - 6 of 6
Cover Image
Does the Community Reinvestment Act influence lending? an analysis of changes in bank low-income mortgage activity
Dahl, Drew; Evanoff, Douglas D.; Spivey, Michael F. - Federal Reserve Bank of Chicago - 2000
Anecdotal evidence that the Community Reinvestment Act (CRA) influences the lending behavior of financial institutions has not been uniformly supported by empirical research. We revisit this issue by evaluating changes in low-income mortgage lending at commercial banks over the 1992-96 period....
Persistent link: https://www.econbiz.de/10005420033
Cover Image
First-time home buyers and residential investment volatility
Fisher, Jonas D. M.; Gervais, Martin - Federal Reserve Bank of Chicago - 2007
Like other macroeconomic variables, residential investment has become much less volatile since the mid-1980s (recent experience notwithstanding.) This paper explores the role of structural change in this decline. Since the early 1980s there have been many changes in the underlying structure of...
Persistent link: https://www.econbiz.de/10005420035
Cover Image
Complex mortgages
Amromin, Gene; Huang, Jennifer; Sialm, Clemens; Zhong, … - Federal Reserve Bank of Chicago - 2010
Complex mortgages became a popular borrowing instrument during the bullish housing market of the early 2000s but … mortgages) enable households to postpone loan repayment compared to traditional mortgages and hence relax borrowing constraints … contract terms. We document that complex mortgages were chosen by prime borrowers with high income levels seeking to purchase …
Persistent link: https://www.econbiz.de/10008764399
Cover Image
Market-based loss mitigation practices for troubled mortgages following the financial crisis
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - Federal Reserve Bank of Chicago - 2011
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/10008852882
Cover Image
The role of securitization in mortgage renegotiation
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - Federal Reserve Bank of Chicago - 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/10008852883
Cover Image
Credit Supply and the Housing Boom
Justiniano, Alejandro; Primiceri, Giorgio E.; … - Federal Reserve Bank of Chicago - 2014
The housing boom that preceded the Great Recession was due to an increase in credit supply driven by looser lending constraints in the mortgage market. This view on the fundamental drivers of the boom is consistent with four empirical observations: the unprecedented rise in home prices and...
Persistent link: https://www.econbiz.de/10011099908