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Intermediation frictions in debt relief : evidence from CARES Act forbearance

Kim, You Suk; Lee, Donghoon; Scharlemann, Tess; … - 2022

We study how intermediaries-mortgage servicers-shaped the implementation of mortgage forbearance during the COVID-19 … increased mortgage nonpayment but also reduced delinquencies outside of forbearance. Part of the liquidity from forbearance was …

Persistent link: https://www.econbiz.de/10013401863

Policies in support of lending following the coronavirus (COVID-19) pandemic

Budnik, Katarzyna; Dimitrov, Ivan; Groß, Johannes; … - 2021

well as national governments in the euro area during the coronavirus (COVID-19) pandemic to support lending to the real …

Persistent link: https://www.econbiz.de/10012520884

Inequality in the Time of COVID-19 : Evidence from Mortgage Delinquency and Forbearance

An, Xudong; Cordell, Larry; Geng, Liang; Lee, Keyoung - 2021

Using a novel database that combines mortgage servicing records, credit-bureau data and loan application information … higher rates. Finally, we examine longer-term solutions for identifying and resolving an estimated 2.8 million mortgage loans …

Persistent link: https://www.econbiz.de/10013236186

Liquidity in the Mortgage Market : How Does the COVID-19 Crisis Compare with the Global Financial Crisis?

Pence, Karen M. - 2022

-emerged in the Coronavirus 2019 (COVID-19) Crisis. Some of these strains were acute. For example, the dependence of mortgage real …The liquidity strains that contributed to the meltdown of the mortgage market in the Global Financial Crisis (GFC) re … pressures had only minor repercussions for the overall mortgage market because of reforms since the GFC, a heavy government …

Persistent link: https://www.econbiz.de/10013404844

Heterogeneity in the Effect of COVID-19 Mortgage Forbearance : Evidence from Large Bank Servicers

Shi, Lan - 2021

Mortgage forbearance, where monthly scheduled payments are paused, was widely activated in response to the COVID-19 … forbearance performance of residential mortgage loans held or serviced by largest national banks. We find that the forbearance …

Persistent link: https://www.econbiz.de/10013311718

Consumption Effects of Mortgage Payment Holidays : Evidence During the COVID-19 Pandemic

Albuquerque, Bruno; Varadi, Alexandra - 2022

We use UK transaction-level data during the Covid-19 pandemic to study whether mortgage payment holidays (PH) can act … as a mechanism for smoothing household consumption following negative aggregate shocks. Our results suggest that mortgage … mortgage PH led to higher saving rates for more financially-stable households …

Persistent link: https://www.econbiz.de/10013294802

Did Mortgage Forbearance Reach the Right Homeowners? Income and Liquid Assets Trends for Homeowners during the COVID-19 Pandemic

Farrell, Diana; Greig, Fiona; Zhao, Chen - 2020

COVID-19 devastated the US labor market threatening homeowners’ ability to stay current on their mortgage. During the … Great Recession, payment relief was more difficult to come by whereas the Coronavirus Aid, Relief, and Economic Security …-related hardship. However, the CARES Act did not cover everyone—it was silent on non-federally backed mortgage holders and those …

Persistent link: https://www.econbiz.de/10014351996

Inequality During the COVID-19 Pandemic : The Case of Savings from Mortgage Refinancing

Agarwal, Sumit; Chomsisengphet, Souphala; Kiefer, Hua; … - 2021

We study the distribution of savings from mortgage refinancing across income groups during the COVID-19 pandemic …

Persistent link: https://www.econbiz.de/10013227277

Public health and government preparations for future pandemics

Longworth, David J.; Milne, Frank - 2021

Substantial weaknesses in the preparation by public health authorities and governments increased the health and economic costs of the Covid-19 pandemic relative to what they would have been if pre-existing recommendations had been followed and a wider set of plans had been put into place....

Persistent link: https://www.econbiz.de/10012417553

Covid-19 and the Lack of Public Health and Government Preparation

Milne, Frank; Longworth, David J. - 2020

Much has been revealed recently regarding the relative unpreparedness of Public Health Authorities and their governments in many countries. We show that a lack of preparedness for the Covid-19 pandemic resulted from four major types of shortcomings. First, even when there were problems noted in...

Persistent link: https://www.econbiz.de/10012286509