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Norway; 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Norway
International Monetary Fund (IMF); International … - 2012
Norway’s near-term macroeconomic priority is to reduce risks arising from high-household debt by tightening macroprudential standards for mortgage lending while undertaking tax reforms to gradually reduce incentives for excessive leverage. Creating a stronger institutional framework for...
Persistent link: https://www.econbiz.de/10011244493
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Sweden; Financial Sector Assessment Program Update: Technical Note on Household Indebtedness: Implications for Financial Stability
International Monetary Fund (IMF); International … - 2011
As in other advanced economies, there has been a significant run-up of household debt in Sweden during the last two decades accompanied by rising housing prices, prompting concerns about sustainability and the implications for financial stability. The rise in household debt and the banking...
Persistent link: https://www.econbiz.de/10011244923
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Denmark; Financial Sector Assessment Program: Technical Note: The Danish Mortgage Market: A Comparative Analysis
International Monetary Fund (IMF); International … - 2007
This technical note presents a comparative analysis of the Danish Mortgage Market. It discusses the particularities of the regulatory framework of the Danish mortgage system. The note compares and contrasts mortgage financing in Denmark and in other European countries, looking both at the...
Persistent link: https://www.econbiz.de/10011245042
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Foreclosure Mitigation Efforts in the United States; Approaches and Challenges
Klyuev, Vladimir; Kiff, John - International Monetary Fund (IMF) - 2009
Home foreclosure rates have risen in the United States to the highest levels since the Great Depression. With house … projected to go even higher. While most of the time a foreclosure is a suboptimal resolution of a distressed mortgage, a number …
Persistent link: https://www.econbiz.de/10011245863
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Housing Finance and Mortgage-Backed Securities in Mexico
Zanforlin, L.; Espinosa-Vega, Marco A - International Monetary Fund (IMF) - 2008
This paper reviews the Mexican experience with the securitization of residential mortgages. It highlights the key legislative and institutional reforms leading to the development of primary and secondary mortgage markets and reports the main features and valuation practices of the RMBS markets....
Persistent link: https://www.econbiz.de/10005248322
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Mortgage Defaults
Martinez, Leonardo; Hatchondo, Juan Carlos; Sanchez, Juan M. - International Monetary Fund (IMF) - 2012
This paper incorporates house price risk and mortgages into a standard incomplete market (SIM) model. The model is calibrated to match U.S. data and accounts for non-targeted features of the data such as the distribution of down payments, the life-cycle profile of home ownership, and the...
Persistent link: https://www.econbiz.de/10009650640
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A quantitative analysis of the U.S. housing and mortgage markets and the foreclosure crisis
Chatterjee, Satyajit; Eyigungor, Burcu - Federal Reserve Bank of Philadelphia - 2011
, the average foreclosure rate, and the distribution of home-equity ratios across homeowners prior to the recent boom and … show that the model can account for the observed decline in house prices and much of the increase in the foreclosure rate … if two additional forces are taken into account: (i) the lengthening of the time to complete a foreclosure (during which …
Persistent link: https://www.econbiz.de/10009216226
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Home Sweet Home; Government's Role in Reaching the American Dream
Tsounta, Evridiki - International Monetary Fund (IMF) - 2011
This paper investigates the role of government intervention in achieving the American dream of homeownership. The study analyzes the role of tax deductions in housing finance, including their impact on homeownership and housing consumption. The role of the Government Sponsored Enterprises in...
Persistent link: https://www.econbiz.de/10009293771
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What Fuels the Boom Drives the Bust; Regulation and the Mortgage Crisis
Dagher, Jihad; Fu, Ning - International Monetary Fund (IMF) - 2011
participation by these lenders is associated with increased foreclosure filing rates at the onset of the housing downturn. We …-nonparametric methods. We show that this relation between the pre-crisis market share of independents and the rise in foreclosure is more …
Persistent link: https://www.econbiz.de/10009327868
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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, … - Federal Reserve Bank of Boston - 2012
This paper presents 12 facts about the mortgage market. The authors argue that the facts refute the popular story that the crisis resulted from financial industry insiders deceiving uninformed mortgage borrowers and investors. Instead, they argue that borrowers and investors made decisions that...
Persistent link: https://www.econbiz.de/10010551264