the Federal Home Ownership and Equity Protection Act (HOEPA) by including home purchase and open end mortgage credit, by …

played changes in demographic factors and innovations in the mortgage market which lessened downpayment requirements. To … generation model with housing. We find that the long-run importance of the introduction of new mortgage products for the …

The last decade has brought about substantial mortgage innovation and increased refinancing. The objective of the paper … is to understand the determinants and implications of mortgage choice in the context of general equilibrium model with … incomplete markets. The equilibrium characterization allows us to study the impact of mortgage financing decisions in the …