This paper studies a household's optimal demand for a reverse mortgage. These contracts allow homeowners to tap their … home equity to finance consumption needs. In stylized frameworks, we show that the decision to enter a reverse mortgage is … reduces the risky portfolio share and is more likely to enter a reverse mortgage. On the other hand, if there is a large drop …

mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using … declines in the homeownership rates …

fluctuation and households' liquid portfolio choice. To isolate exogenous variation in homeowners' home equity and mortgage debt … elasticity of risky asset shares with respect to mortgage debt and home equity is -0.31 and 0.28 respectively in pre …-crisis period. On the other hand, whereas for the post-crisis period, the elasticity of risky asset shares with respect to mortgage …

predict the early redemption of Term Asset-Backed Securities Loan Facility (TALF) loans used to purchase commercial mortgage …

attention is paid to the challenges that the real estate market and mortgage loans have been facing during the crisis caused by …

these measures comes at a time when housing supply and mortgage lending are at historically low levels. In this paper we use … for house prices and key activity variables in the mortgage market. …

guarantee and the potential high cost for mortgage holders or the government. In addition to the creation of an explicit … adoption of mortgages—such as the “Fixed-COFI” mortgage—that build homeowner equity faster than the thirty-year fixed …-rate mortgage favored by the GSEs. With such mortgages, homeowners are better able to weather economic downturns …

This article examines the impact of regulation on lending standards during the mortgage boom. We exploit the overall … regulatory wedge between banks and independent mortgage companies (IMCs) and a variation in this regulatory wedge across states … how inconsistent regulation of mortgage lenders has resulted in risky lending being increasingly channeled through the …