An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002 … purchase mortgages to subprime borrowers. We also document that the expansion in speculative mortgage products and underwriting …

in subprime private-label mortgage-backed securities (PLS), influenced the risk characteristics and prices of the deals … and Freddie Mac purchased securities included separate mortgage pools: one specifically created for the GSEs and one or … and Freddie Mac had similar ex-ante risk characteristics but performed much better ex-post relative to other mortgage …

done to stop it. We use an economic model to focus on two key decisions: the borrower's choice to default on the mortgage … illustrate that "unaffordableʺ loans, defined as those with high mortgage payments relative to income at origination, are …

This paper analyzes the impact of the subprime mortgage crisis on urban neighborhoods in Massachusetts. We explore the … topic using a data set that matches race and income information from Home Mortgage Disclosure Act data with property …

done to stop it. We use an economic model to focus on two key decisions: the borrower's choice to default on a mortgage and … illustrate that unaffordable loans, defined as those with high mortgage payments relative to income at origination, are unlikely …

This paper examines how Fannie Mae and Freddie Mac (the GSEs), the dominant investors in subprime mortgage …, and for issuers that were highly dependent on the GSEs and were corporate affiliates of the mortgage originators. Our …