financial crisis - the mortgage credit cycle and the home price cycle. In the viewpoint of mortgage lending, the main demand … (UCC) for owning between 2002-2006. UCC was, in turn, influenced by three key factors - the record low mortgage interest … as a significant shift factor in the demand side. In the supply-side, the main drivers for the boom-bust of mortgage …

young, low net-worth households are able to get a mortgage and buy a house, and current (old) home-owners benefit from the …

-friendly procedure, such as a deed in lieu. We find no evidence that mortgage interest rates are lower in recourse states …

This paper looks at the relation between mortgage credit and housing values. It has become conventional wisdom in … tested as of yet. The paper uses the Johansen procedure to estimate a long run relationship between mortgage credit and … different housing price variables are estimated. It is found that mortgage credit is weakly exogenous. Impulse …

, mortgage credit constraints and a price-toprice feedback loop affects house price volatility. Considering 247 Metropolitan …

From 2000-2006 U.S. house prices and mortgage credit grew while the relative cost of mortgage credit fell …) shocks: an increased inow of global savings into the United States, and innovations in the securitization of mortgage credit …. I model the interaction of financially constrained commercial banks and mortgage securitizers, generating a novel …

This paper provides evidence for the propagation of idiosyncratic mortgage supply shocks to the macroeconomy. Based on … micro-level data from the Home Mortgage Disclosure Act for the 1990-2016 period, our results suggest that lender …-specific mortgage supply shocks affect aggregate mortgage, house price, and employment dynamics at the regional level. The larger the …

risk in the mortgage market raises the default rate and spreads to the rest of the economy, creating a recession. In our … model two shocks are well suited to replicate the subprime crisis and the Great Recession: the mortgage risk shock and the …. This policy is successful in stabilizing the mortgage market and makes all agents better off. …

This paper provides evidence for the propagation of idiosyncratic mortgage supply shocks to the macroeconomy. Based on … micro-level data from the Home Mortgage Disclosure Act for the 1990-2016 period, our results suggest that lender …-specific mortgage supply shocks affect aggregate mortgage, house price, and employment dynamics at the regional level. The larger the …