Rural homeownership is promoted in the United States by mortgage insurance programs administered by the federal … Rural Housing Service. We find applicants are sensitive to the relative annual mortgage insurance premiums and guarantee … mortgage choice …

Mortgage insurance compensates lenders for losses in the event of default by borrowers. Whether offered by private … mortgage insurance companies or the Federal Housing Administration (FHA), mortgage insurance is often required for borrowers … with insufficient wealth for a large downpayment in order to purchase a home. Consequently, mortgage insurance is …

The Economic Stimulus Act of 2008 dramatically but temporarily increased the mortgage loan amount eligible for … source of exogenous variation in the availability of FHA insurance to measure the impact on the overall mortgage market and … between loan products and small net impact on the overall mortgage market when the ESA loan limits expired may be explained by …

We study how deposit competition affects a bank’s decision to securitize mortgages. Exploiting the state …-specific removal of deposit market caps across the US as a source of competition, we find a 7.1 percentage point increase in the … probability that banks securitize mortgage loans. This result is driven by an 11 basis point increase in deposit costs and …

. Although competition reduces firm revenues and benefits consumers initially, shrouding helps banks offset the vast majority of …

Bank competition can induce excessive risk taking due to risk shifting. This paper tests this hypothesis using micro …-level U.S. mortgage data by exploiting the exogenous variation in local house price volatility. The paper finds that, in … response to high expected house price volatility, banks in U.S. counties with a competitive mortgage market lowered lending …

Administration (FHA) in the primary mortgage market. Utilizing a sample of loan originations aggregated at the zip code level, the … potential conclusion is that FHA was forced to accept lower quality loans as competition from more nimble private lenders with …