Ten years after the mortgage crisis, the U.S. housing market has rebounded significantly with house prices now near the … peak achieved during the boom. Homeownership rates, on the other hand, have continued to decline. We reconcile the two … homeownership rates between 2007 and 2014. We further demonstrate that institutional investors contributed to the improvement in the …

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 …

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 …

Midwestern and Northeastern states reflected primarily a high rate of foreclosure per mortgage, not a high volume of mortgages to … as higher credit scores, but may also have weaker incentives to maintain mortgage payments when housing values fall …. During the recent housing boom, the share of mortgage borrowing by non-occupant owners was relatively high in states where …

This chapter considers the structure of mortgage finance in the United States and its role in shaping patterns of … homeownership, the nature of the housing stock, and the organization of residential activity. We start by providing some background … on the design features of mortgage contracts that distinguish them from other loans and that have important implications …