in a large government mortgage program. The Federal Housing Administration (FHA) insures most mortgages to lower …-downpayment, lower credit score borrowers, including a majority of first-time homebuyers. The FHA charges borrowers an annual mortgage …

a significant, negative effect on mortgage credit risk. Controlling for potential endogeneity bias by utilizing the …, consistent with the double trigger hypothesis of mortgage default. The results also suggest that increased fracking activity …

We construct a new measure of mortgage credit availability that describes the maximum amount obtainable by a borrower … of given characteristics. We estimate this "loan frontier" using mortgage originations data from 2001 to 2014 and show … that it reflects a binding borrowing constraint. Our estimates reveal that the expansion of mortgage credit during the …

this mechanism, which explains the greater housing price volatility in these areas over the course of a boom-bust cycle …

) using the quarterly U.S. residential mortgage loan-level data observed from Q2 2005 to Q1 2015. We define defaulted loans … separate cure and non-cure loans in mortgage loss risk models …

Analyzing the period 1988--2006, we document that banks that are active in strong housing markets increase mortgage … profitable opportunities in mortgage lending, rather than with a demand-based interpretation. The results suggest that housing …

) using the quarterly U.S. residential mortgage loan-level data observed from Q2 2005 to Q1 2015. We define defaulted loans … separate cure and non-cure loans in mortgage loss risk models …