lending constraints in the mortgage market. This view on the fundamental drivers of the boom is consistent with four empirical …, and the fall in mortgage rates. These facts are difficult to reconcile with the popular view that attributes the housing …

lending constraints in the mortgage market. This view on the fundamental drivers of the boom is consistent with four empirical …, and the fall in mortgage rates. These facts are difficult to reconcile with the popular view that attributes the housing …

lending constraints in the mortgage market. This view on the fundamental drivers of the boom is consistent with four empirical …, and the fall in mortgage rates. These facts are difficult to reconcile with the popular view that attributes the housing …

From 1999 to 2013, U.S. mortgage debt doubled and then contracted sharply. Our understanding of the factors driving … this volatility in the stock of debt is hampered by a lack of data on mortgage flows. Using comprehensive, individual …-level panel data on consumer liabilities, I estimate detailed mortgage inflows and outflows. During the boom, inflows from real …

mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using …

The late 1990s through the mid-2000s was a period of historic growth in mortgage lending and house prices and there is … with the view that the house price boom was caused by an expansion in the supply of mortgage credit, primarily benefiting … borrowers and neighborhoods which previously had the most limited access to mortgage credit. In particular, the evidence can be …

An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002 … purchase mortgages to subprime borrowers. We also document that the expansion in speculative mortgage products and underwriting …

This article examines the impact of regulation on lending standards during the mortgage boom. We exploit the overall … regulatory wedge between banks and independent mortgage companies (IMCs) and a variation in this regulatory wedge across states … how inconsistent regulation of mortgage lenders has resulted in risky lending being increasingly channeled through the …