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Author:Goodman, Laurie 

Report
Interest rate swaps: an alternative explanation

Research Paper , Paper 8811

Working Paper
The cost of delay

In this study, we make use of a massive database of mortgage defaults to estimate REO liquidation timelines and time-related costs resulting from the recent post-crisis interventions in the mortgage market and the freezing of foreclosures due to ?robo-signing? revelations. The cost of delay, estimated by comparing today?s time-related costs to those before the start of the financial crisis, is eight percentage points, with enormous variation among states. While costs are estimated to be four percentage points higher in statutory foreclosure states, they are estimated to be 13 percentage ...
Working Papers , Paper 13-15

Journal Article
The rising gap between primary and secondary mortgage rates

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 potentially affected mortgage originator costs and profits and restrained the pass-through from lower secondary rates to borrowers? funding costs. This article describes the mortgage origination and securitization process and the way in which originator profits are determined. The authors calculate a series of originator profits and unmeasured costs (OPUCs) for the period 1994 to 2012, and show that these OPUCs increased ...
Economic Policy Review , Issue Dec , Pages 17-39

Conference Paper
Credit-lines for new instruments: swaps. over-the-counter options, forwards and floor-ceiling agreements

Proceedings , Paper 121

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