We study credit ratings on subprime and Alt-A mortgage-backed-securities (MBS) deals issued between 2001 and 2007, the … period leading up to the subprime crisis. The fraction of highly rated securities in each deal is decreasing in mortgage … underperformance (high mortgage defaults and losses and large rating downgrades) among deals with observably higher risk mortgages …

We provide an empirical analysis of the effects of the Federal Reserve's asset holdings on MBS yields and mortgage … rates. We argue that understanding the particulars of the U.S. mortgage markets, particularly the linkages between the … secondary and primary mortgage markets, is important. We find evidence that the Federal Reserve's portfolio holdings influence …

(DTI) thresholds. We conclude that binding DTI constraints are an important feature of the mortgage market that amplify the …

In this paper, we explore the impact of current household repayment capacity on mortgage default using household …

to holders of commercial mortgage-backed securities (CMBS). Using detailed micro data, we show that cash flow shocks … during the COVID-19 pandemic predict CRE mortgage delinquency, especially those stemming from lease expiration of offices …

to holders of commercial mortgage-backed securities (CMBS). Using detailed micro data, we show that cash flow shocks … during the COVID-19 pandemic predict CRE mortgage delinquency, especially those stemming from lease expiration of offices …

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

Federal Housing Administration (FHA) mortgage insurance program. The suits led to more than $5 billion in settlements and … exit has significantly reduced low-income households' overall access to mortgage credit. …