This paper studies the treatment effect of monthly payment size on mortgage default, using a
sample of adjustable-rate loans that experienced large payment reductions thanks to the …

Using a unique nationwide mortgage servicing dataset, this paper investigates the
underreporting of second liens in portfolio mortgages and compares underreporting in …

We use data from credit report and deeds records to better understand the extent to which
second liens contributed to the housing crisis by allowing buyers to purchase homes with …

Strategic default behavior suggests that the default process is not only a matter of inability to
pay. Economic costs and benefits affect the incidence and timing of defaults. As with prior …

In June 2010, 4.6 percent of all loans outstanding on one-to four-family homes were in the
foreclosure process, and another 9.9 percent were at least one payment past due (Mortgage …

A Brookings Institution Press and Harvard University Joint Center for Housing Studies
publication The ups and downs in housing markets over the past two decades are without …

Before the 1930s Building and Loan Associations (B&Ls) were the leading residential
mortgage leaders in the US When severely distressed during the housing crisis of the …

Abstract The Dodd–Frank Act tasks regulators with defining a Qualified Residential
Mortgage (QRM) as an exemption from risk retention for residential mortgage-backed …

An estimated 12.6% of primary mortgage loans were simultaneously originated with a
second loan from 2004 until 2008, although relatively little is known about how the presence …

Point/Counterpoint/380 economists who were uncertain only acknowledged the possibility of
bubble-like behavior in certain regional housing markets. The small number of economists …