We develop a tractable general equilibrium framework of housing and mortgage markets with aggregate and idiosyncratic … risks, costly liquidity and strategic defaults, empirically relevant informational asymmetries, and endogenous mortgage … takes the form of a home equity insurance mortgage (HEIM) that eliminates the strategic default option and insures the …

financial institution foreclosure activities. This is one of many proposed directives for addressing the current mortgage …

The US financial system is undergoing a painful restructuring as credit losses originating in the mortgage finance … for housing, low interest rates, innovations in mortgage lending and securitization, and a breakdown in credit quality …

context of the current debates about re-engineering the mortgage markets in the wake of the 2008 financial crisis. In … particular, the Article is the first scholarly work to introduce the concept of “smart mortgages” - loans and mortgage securities … with more rich and dynamically updated information than traditional mortgage products. The Article considers recent …

-called “steering.” Using data for 2005, I estimate probabilistic models of loan approvals jointly for two non-prime mortgage products … of subprime mortgage lending across these neighborhoods. Several of these cities have experienced tremendous increases in … subprime lending, and subsequently have had high mortgage delinquencies and home foreclosures in predominantly minority …

varies with the mortgage cycle …

Extensive research has confirmed that there is significant anchoring bias in purchase mortgage appraisals, with …

We test for racial discrimination in the prices charged by mortgage lenders. We construct a unique dataset where we … observe all three dimensions of a mortgage's price: the interest rate, discount points, and fees. While we find statistically …

the overall mortgage market has grown handedly. In 2014, non-banks accounted for over 40 percent of total origination in … active in mortgage servicing than ever before; and 3) using technology to transform the mortgage market. Without non …-banks, today's sluggish mortgage market would be much less vibrant, and our analysis reveals positive impacts of non-banks on …