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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 …. We document that Agency mortgage REITs: [i] equity prices reacted to QE announcements and in a manner consistent with …
Persistent link: https://www.econbiz.de/10011895590
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Unconventional Monetary Policy and Risk-Taking : Evidence from Agency Mortgage REITs
Frame, W. Scott - 2018
We study how the Federal Reserve's quantitative easing (QE) influenced the behavior of Agency mortgage REITs – a set of … institutions identified by the Financial Stability Oversight Council as posing systemic risk. We document that Agency mortgage …
Persistent link: https://www.econbiz.de/10012917272
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Fussing and Fuming over Fannie and Freddie: How Much Smoke, How Much Fire?
Frame, W. Scott; White, Lawrence J. - 2004
mortgage finance. We describe the special features of these two companies and their roles in the mortgage markets. We then …
Persistent link: https://www.econbiz.de/10005846884
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Emerging Competition and Risk-Taking Incentives at Fannie Mae and Freddie Mac
White, Lawrence J.; Frame, W. Scott - Federal Reserve Bank <Atlanta, Ga.> - 2004
This paper examines two major forces that may soon increase competition in the U.S. secondary conforming mortgage … market: 1) the expansion of Federal Home Loan Bank mortgage purchase programs, and 2) the adoption of revised risk …
Persistent link: https://www.econbiz.de/10005846886
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The Federal Home Loan Bank System and U.S. housing finance
Frame, W. Scott - 2016
This paper examines the role of the Federal Home Loan Bank (FHLB) System in the U.S. housing finance system. This cooperatively owned government-sponsored enterprise has changed markedly over the past 25 years as a result of membership liberalization and the demise of thrift institutions. Today,...
Persistent link: https://www.econbiz.de/10011417743
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Agency conflicts in residential mortgage securitization : what does the empirical literature tell us?
Frame, W. Scott - 2016
research for the U.S. home mortgage market suggests that securitization itself may not have been a problem, but rather the …
Persistent link: https://www.econbiz.de/10011623267
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The failure of supervisory stress testing : Fannie Mae, Freddie Mac, and OFHEO
Frame, W. Scott; Gerardi, Kristopher; Willen, Paul - 2015 - This version: March 2015
these GSEs as mortgage market conditions deteriorated in 2007 and 2008. The analysis focuses on a key element of OFHEO …
Persistent link: https://www.econbiz.de/10010510096
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The failure of supervisory stress testing : Fannie Mae, Freddie Mac, and OFHEO
Frame, W. Scott; Gerardi, Kristopher; Willen, Paul - 2015
for Fannie Mae and Freddie Mac. We study a key component of OFHEOs model - 30-year fixed-rate mortgage performance - and … in a significant underprediction of mortgage credit losses and associated capital needs at Fannie Mae and Freddie Mac …
Persistent link: https://www.econbiz.de/10010499577
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Estimating the effect of mortgage foreclosures on nearby property values : a critical review of the literature
Frame, W. Scott - 2010
In response to the wave of residential mortgage foreclosures in the past few years, federal, state and local government … seeks to estimate the negative effects of residential mortgage foreclosures. This review suggests that foreclosed properties …
Persistent link: https://www.econbiz.de/10009419423
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The Federal Home Loan Bank System and U.S. Housing Finance
Frame, W. Scott - 2017
This paper examines the role of the Federal Home Loan Bank (FHLB) System in the U.S. housing finance system. This cooperatively owned government-sponsored enterprise has changed markedly over the past 25 years as a result of membership liberalization and the demise of thrift institutions. Today,...
Persistent link: https://www.econbiz.de/10012970146