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Favara, Giovanni; Imbs, Jean - National Centre of Competence in Research - Financial … - 2010

We show that since 1994, branching deregulations in the U.S have signicantly af-fected the supply of mortgage credit …, and ultimately house prices. With deregulation,the number and volume of originated mortgage loans increase, while denial … rates fall.But the deregulation has no effect on a placebo sample, formed of independent mort-gage companies that should not …

Persistent link: https://www.econbiz.de/10009522189

Are Home Prices the Next “Bubble”?

MacCarthy, Jonathan; Peach, Richard W. - Federal Reserve Bank <New York, NY> - 2004

[...]In this article, we assess the evidence in support of a bubblein U.S. home prices and discuss whether a severe decline inthese prices is likely. We also examine the effects of a steep dropin home prices on the broader national economy. Examining the possible effects of a severe decline in...

Persistent link: https://www.econbiz.de/10005869742

Government Regulation and Changes in the Affordable Housing Stock

Somerville, Craig Tsuriel; Mayer, Christopher J. - University of British Columbia <Vancouver, British …; … - 2003

[...]In this paper, we look at the relationship between these twoissues to examine how government regulation affects thedynamics of the low-income housing stock. We find that,consistent with theoretical models of housing, restrictions onthe supply of new units lower the supply of affordable...

Persistent link: https://www.econbiz.de/10005869787

The Twenty-Fifth Anniversary of the Community Reinvestment Act: Past Accomplishments and Future Regulatory Challenges

Apgar, William C.; Duda, Mark - Joint Center for Housing Studies <Cambridge, Mass.> - 2003

banks and mortgage lenders as wellas the impact on the relationship between mortgage lendersand community-based advocacy … providing a brief review of the evolution of CRAregulations, we document the impact that the CRA has hadon home mortgage lending …

Persistent link: https://www.econbiz.de/10005869799

The Building Blocks for Private Investment in New York City’s Underserved Communities

Roberts, Richard - 2003

[...]There are, of course, more traditional sources of privatesectorcapital for these markets. First among them is theCommunity Reinvestment Act. As we heard earlier, and asmany of us know firsthand, the act has had a dramatic effect interms of directing private-sector resources into urban...

Persistent link: https://www.econbiz.de/10005869800

Discussion Paper ResponseFSA DP09/3: Mortgage Market Review

Chartered Insurance Institute - 2010

and employers” in insurance and financial services. Our membership includes 4,158 members1 of the CII Society of Mortgage … Professionals (SMP) which is the UK’s largest society of mortgage broking, adviser and related roles.[...] …

Persistent link: https://www.econbiz.de/10005870177

Credit, Equity, and Mortgage Refinancings

Peristiani, Stavros; Bennett, Paul; Monsen, Gordon; … - Federal Reserve Bank <New York, NY>; London School of … - 1997

[...]This article significantly advances the literature onmortgage prepayments by introducing quantitative measuresof individual homeowner credit histories to the loan-levelanalysis of the factors influencing the probability that a homeownerwill refinance. In addition to credit histories, we...

Persistent link: https://www.econbiz.de/10005870272

The risk of relying on reputational capital: a case study of the 2007 failure of New Century Financial

Frankel, Allen B. - Bank for International Settlements / Monetary and … - 2009

losses on defective loans that had been sold to securitisers of pooled loan packages (ie, mortgage-backed securities). It …

Persistent link: https://www.econbiz.de/10009138458

Risk Heterogeneity and Credit Supply: Evidence from the Mortgage Market

Besley, Timothy; Meads, Neil; Surico, Paolo - London School of Economics and Political Science - 2010

This paper uses a unique data set on more than 600,000 mortgagecontracts to estimate a credit supply function which allows for risk-heterogeneity. Non-linearity is modeled using quantile regressions. Wepropose an instrumental variable approach in which changes in the taxtreatment of housing...

Persistent link: https://www.econbiz.de/10009248804

The housing meltdown: Why did it happen in the United States?

Ellis, Luci - Bank für Internationalen Zahlungsausgleich <Basel> - 2008

The crisis enveloping global financial markets since August 2007 was triggered by actual and prospective credit losses on US mortgages. Was the United States just unlucky to have been the first to experience a housing crisis? Or was it inherently more susceptible to one? I examine the limited...

Persistent link: https://www.econbiz.de/10009305060