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Do borrower rights improve borrower outcomes? Evidence from the foreclosure process
Gerardi, Kristopher; Lambie-Hanson, Lauren; Willen, Paul S. - 2012
We evaluate the effects of laws designed to protect borrowers from foreclosure. We find that these laws delay but do …. We find that the right-to-cure law lengthens the foreclosure timeline but does not lead to better outcomes for borrowers. …
Persistent link: https://www.econbiz.de/10010292272
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Reducing foreclosures: No easy answers
Foote, Christopher L.; Gerardi, Kristopher; Goette, Lorenz - 2009
This paper takes a skeptical look at a leading argument about what is causing the foreclosure crisis and what should be … empirical evidence supporting the hypothesis that the efficiency of foreclosure for investors is a more plausible explanation …
Persistent link: https://www.econbiz.de/10010292331
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Why did so many people make so many ex post bad decisions? The causes of the foreclosure crisis
Foote, Christopher L.; Gerardi, Kristopher S.; Willen, … - 2012
We present 12 facts about the mortgage crisis. We argue that the facts refute the popular story that the crisis resulted from finance industry insiders deceiving uninformed mortgage borrowers and investors. Instead, we argue that borrowers and investors made decisions that were rational and...
Persistent link: https://www.econbiz.de/10010292274
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Why don’t lenders renegotiate more home mortgages? The effect of securitization
Adelino, Manuel; Gerardi, Kristopher; Willen, Paul - 2010
Securitization does not explain the reluctance among lenders to renegotiate home mortgages. We focus on seriously delinquent borrowers from 2005 through the third quarter of 2008 and show that servicers renegotiate similarly small fractions of securitized and portfolio loans. The results are...
Persistent link: https://www.econbiz.de/10010292339
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Decomposing the foreclosure crisis: House price depreciation versus vad underwriting
Gerardi, Kristopher; Shapiro, Adam Hale; Willen, Paul S. - 2009
We estimate a model of foreclosure using a data set that includes every residential mortgage, purchase-and-sale, and … foreclosure transaction in Massachusetts from 1989 to 2008. We address the identification issues related to the estimation of the … occurred in Massachusetts between 2005 and 2008 and conclude that the foreclosure crisis was primarily driven by the severe …
Persistent link: https://www.econbiz.de/10010292310
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Subprime mortgages, foreclosures, and urban neighborhoods
Gerardi, Kristopher S.; Willen, Paul S. - 2009
owned by minority residents. Furthermore, we argue that the particularly dire foreclosure situation in urban neighborhoods …
Persistent link: https://www.econbiz.de/10010292355
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Las instituciones del financiamiento de la vivienda en Argentina
Cristini, Marcela; Moya, Ramiro - 2004
En este trabajo se analiza el caso de la profundización del crédito hipotecario en Argentina durante los años 90 y se lo compara con el fracaso de los años 80. Se muestra que la estabilidad macroeconómica condiciona el desarrollo del mercado y que con las instituciones legales y de mercado...
Persistent link: https://www.econbiz.de/10010327112
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Los efectos del sector público en el financiamiento de la vivienda: El mercado hipotecario de Uruguay
Gandelman, Eduardo; Gandelman, Nestor - 2004
El presente trabajo estudia el mercado hipotecario de viviendas en Uruguay. El principal operador del mercado es el Banco Hipotecario del Uruguay (BHU), una institución estatal que concentra más de 80% del total de los créditos. Esta institución se ha visto en dificultades financieras, lo...
Persistent link: https://www.econbiz.de/10010327113
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Housing finance and monetary policy
Calza, Alessandro; Stracca, Livio; Monacelli, Tommaso - 2009
We study how the structure of housing finance affects the transmission of monetary policy shocks. We document three main facts: first, the features of residential mortgage markets differ markedly across industrialized countries; second, and ac- cording to a wide range of indicators, the...
Persistent link: https://www.econbiz.de/10011605115
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Using Bankruptcy to Reduce Foreclosures
Li, Wenli; Tewari, Ishani; White, Michelle - In: CESifo DICE Report 12 (2014) 3, pp. 31-38
Persistent link: https://www.econbiz.de/10011696880