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The devil's in the tail: Residential mortgage finance and the U.S. Treasury
Frame, W. Scott; Wall, Larry D.; White, Lawrence J. - 2012
This paper seeks to contribute to the U.S. housing finance reform conversation by providing a critical assessment of the various types of policy proposals that have been offered. There appears to be a broad consensus to maintain explicit government guarantees for certain narrowly defined...
Persistent link: https://www.econbiz.de/10010292239
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The devil's in the tail : residential mortgage finance and the U.S. Treasury
Frame, W. Scott; Wall, Larry D.; White, Lawrence J. - 2012
This paper seeks to contribute to the U.S. housing finance reform conversation by providing a critical assessment of the various types of policy proposals that have been offered. There appears to be a broad consensus to maintain explicit government guarantees for certain narrowly defined...
Persistent link: https://www.econbiz.de/10009581785
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The rescue of Fannie Mae and Freddie Mac
Frame, W. Scott; Fuster, Andreas; Tracy, Joseph; … - 2015
We describe and evaluate the measures taken by the U.S. government to rescue Fannie Mae and Freddie Mac in September 2008. We begin by outlining the business model of these two firms and their role in the U.S. housing finance system. Our focus then turns to the sources of financial distress that...
Persistent link: https://www.econbiz.de/10011310200
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The rescue of Fannie Mae and Freddie Mac
Frame, W. Scott; Fuster, Andreas; Tracy, Joseph; … - 2015
We describe and evaluate the measures taken by the U.S. government to rescue Fannie Mae and Freddie Mac in September 2008. We begin by outlining the business model of these two firms and their role in the U.S. housing finance system. Our focus then turns to the sources of financial distress that...
Persistent link: https://www.econbiz.de/10011341013
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Why do borrowers pledge collateral? New empirical evidence on the role of asymmetric information
Berger, Allen N.; Espinosa-Vega, Marco A.; Frame, W. Scott - 2007
An important theoretical literature motivates collateral as a mechanism that mitigates adverse selection, credit rationing, and other inefficiencies that arise when borrowers hold ex ante private information. There is no clear empirical evidence regarding the central implication of this...
Persistent link: https://www.econbiz.de/10010292292
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Technological change, financial innovation, and diffusion in banking
Frame, W. Scott; White, Lawrence J. - 2009
This paper discusses the technological change and financial innovation that commercial banking has experienced during the past twenty-five years. The paper first describes the role of the financial system in economies and how technological change and financial innovation can improve social...
Persistent link: https://www.econbiz.de/10010292293
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The information revolution and small business lending: The missing evidence
DeYoung, Robert; Frame, W. Scott; Glennon, Dennis; … - 2010
This paper provides empirical confirmation for Petersen and Rajan's (2002) widely accepted conjecture that information technology was the primary driver of the observed increase in small business borrower-lender distances in the United States in recent years. Using a different data source for...
Persistent link: https://www.econbiz.de/10010292309
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Federal home loan bank advances and commercial bank portfolio composition
Frame, W. Scott; Hancock, Diana; Passmore, Wayne - 2007
This paper considers the role of Federal Home Loan Bank (FHLB) advances in stabilizing their commercial bank members …. Using panel vector autoregression (VAR) techniques, we estimate recent dynamic responses of U.S. bank portfolios to FHLB … advance shocks, bank lending shocks, and macroeconomic shocks. Our empirical findings suggest that FHLB advances are just as …
Persistent link: https://www.econbiz.de/10010292320
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Villains or scapegoats? The role of subprime borrowers in driving the U.S. housing boom
Conklin, James; Frame, W. Scott; Gerardi, Kristopher; … - 2018
An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002-06 U.S. house price boom. Contrary to this belief, we show that the house price and subprime booms occurred in different places. Counties with the largest home price appreciation...
Persistent link: https://www.econbiz.de/10012030276
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Technological change and financial innovation in banking: Some implications for fintech
Frame, W. Scott; Wall, Larry D.; White, Lawrence J. - 2018
Financial intermediation has changed dramatically over the past 30 years, due in large part to technological change. The paper first describes the role of the financial system in a modern economy and how technological change and financial innovation can affect social welfare. We then survey the...
Persistent link: https://www.econbiz.de/10012030277