For decades, it was taken as a given that an increased homeownership rate was a desirable
goal. But after the financial crises and Great Recession, in which roughly eight million …

While mortgage rates reached historic lows during 2012, the spread between primary and
secondary rates rose to very high levels. This trend reflected a number of factors that …

Since first edition's publication, the CDO market has seen tremendous growth. As of 2005,
$1.1 trillion of CDOs were outstanding--making them the fastest-growing investment vehicle of …

This Article quantifies the dramatic tightening of mortgage credit that has occurred in the post-crisis
period. It then describes the policy actions to loosen the credit box taken to date by …

We measure the cost of foreclosure delay by estimating time‐related foreclosure costs using
a large national sample of residential mortgages before, during, and after the recent US …

Between the 1940s and the 1960s, the US homeownership rate increased by nearly 20
percentage points, from mid-40 to mid-60 percent. The self-amortizing 30-year, fixed-rate …

Mortgage credit derivatives are a risky business, especially of late. Written by an expert
author team of UBS practitioners-Laurie Goodman, Shumin Li, Douglas Lucas, and Thomas …

Several studies have reported how new credit risk transfer vehicles have made it easier to
reallocate large amounts of credit risk from the financial sector to the non-financial sector of …

In this article, the authors show that negative equity alone is a more important predictor of
defaults than unemployment. They also establish that when the borrower is significantly …

Credit availability for mortgage purchases has been very tight in the post-crisis period. In fact,
over the past decade, the number of mortgages originated to purchase a home has …