Ten years after the mortgage crisis, the U.S. housing market has rebounded significantly with house prices now near the …

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

An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002 … purchase mortgages to subprime borrowers. We also document that the expansion in speculative mortgage products and underwriting …

explicitly addressing reverse causality between rising foreclosures and falling house prices. Mortgage defaults were also a key …This paper reviews recent research on mortgage default, focusing on the relationship of this research to the recent … foreclosure crisis. Research on defaults was advanced both theoretically and empirically by the time the crisis began, but …