The CFPB's recently released “qualified mortgage” rules effectively discourage predatory lending but miss an equally … important source of systemic risk: low-equity clustering. Specific “volatility inducing” mortgage terms when present in a … substantial cluster of mortgage contracts exacerbate macroeconomic risk by increasing the chance that the housing and lending …

The U.S. mortgage crisis that began in 2007 generated questions about the role played by Fannie Mae and Freddie Mac … the UAG on the GSEs' whole single-family mortgage purchases during peak years for the subprime mortgage market. Under the …

attracted as much attention as the subprime mortgage.What is generally agreed is that subprime mortgages disproportionately … role of government — specifically, that of Fannie Mae and Freddie Mac — in expanding the availability of subprime mortgage … credit.Changes in the mortgage market, resulting largely from misguided monetary policy, drove a frenzy of refinancing …

In this paper, I find a charter which allows Government Sponsored Enterprises (Fannie Mae) that guarantee mortgage … backed securities (MBS) to act as liquidity providers within secondary mortgage markets is beneficial for MBS prices and … increase in the systematic risk of mortgage backed securities …

willingness of originators to initiate loans. Since the supply of loanable funds is larger, mortgage rates are lower than would …

Taken in concert with two previously written volumes on the mortgage industry that highlight the immediate post …-World War II era and the 1963-1972 period, this study accounts for nearly a century of mortgage banking progress and activity in … federally sponsored mortgage products and a single funding channel during the 1930s and in the immediate post-World War II …

We document the portfolio activity of federal housing agencies and provide evidence on its impact on mortgage markets … in agency mortgage holdings. Based on those regulatory events that we classify as unrelated to short-run cyclical or … credit market shocks, we find that an increase in mortgage purchases by the agencies boosts mortgage lending, in particular …

Technology-based (“FinTech”) lenders increased their market share of U.S. mortgage lending from 2 percent to 8 percent … from 2010 to 2016. Using market-wide, loan-level data on U.S. mortgage applications and originations, we show that FinTech … lenders process mortgage applications about 20 percent faster than other lenders, even when controlling for detailed loan …