This chapter considers the structure of mortgage finance in the U.S., and its role in shaping patterns of homeownership … the design features of mortgage contracts that distinguish them from other loans, and that have important implications for … issues presented in the rest of the chapter. We then explain how mortgage finance interacts with public policy, particularly …

Home appraisals are produced for millions of residential mortgage transactions each year, but appraised values are … institutional framework that governs mortgage lending lead to information loss in appraisals (that is, appraisals set equal to the … incidence of mortgage default at loan-to-value boundaries (notches) above which mortgage insurance rates increase. Appraisals …

of the Danish mortgage finance system and compare and contrast it to the U.S. system. We also note characteristics of the … Danish model that may be of interest as the United States considers further mortgage finance reform. In particular, the … borrowers the option to repurchase their mortgage at the market price, mitigating "lock-in" effects. Danish mortgage …

Technology-based ("FinTech") lenders increased their market share of U.S. mortgage lending from 2 percent to 8 percent … from 2010 to 2016. Using market-wide, loan-level data on U.S. mortgage applications and originations, we show that FinTech … lenders process mortgage applications about 20 percent faster than other lenders, even when controlling for detailed loan …

mortgage equity withdrawal (MEW) loan products were denied. Black and Hispanic homeowners' applications were denied at even … with purchase and rate/term refinance mortgage applications. Controlling for loan and borrower characteristics commonly …

lending guidelines, and demand in housing construction and mortgage lending has plummeted. Against this background, the paper …

The U.S. mortgage market has experienced phenomenal change over the last 35 years. Most observers believe that the … for assessing the impact of changes in the mortgage market on individuals and households. Our analysis is based on an … of the relationship between housing spending and future income as a measure of the imperfectnessʺ of mortgage markets …

determinants of access to mortgage finance. It also examines whether mortgage holders were more likely to suffer financial distress … compared with non-mortgage holders in the period before the global financial crisis. The analysis does not find any systematic … evidence that mortgage holders are financially more vulnerable than renters or outright owners; in fact, the incidence of …

this model are consistent with preserving the “to-be-announced,” or TBA, market – particularly if the fixed-rate mortgage … remains a focus of public policy. -- GSE ; MBS ; mortgage …

homeowner only once the loan is repaid. By effectively reducing the LTV of the mortgage, it increases the homeowner's incentives …