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Newsletter
Responding to the foreclosure crisis - a conference summary
Berry, Michael; Newberger, Robin G.
(2010-04)
On December 9?10, 2009, the Federal Reserve Bank of Chicago hosted a conference on mortgage foreclosure policy with the help of the Chicago Community Trust, Neighborhood Housing Services of Chicago, the MacArthur Foundation, and the Woodstock Institute.
Chicago Fed Letter
, Issue Apr
Journal Article
The impact of foreclosures on the housing market
Hartley, Daniel
(2010-10)
A record number of mortgage loans are either in default or in danger of being defaulted upon. Many of the properties that back these loans will end up going through the foreclosure process. A growing body of research shows that foreclosed homes sell at a discount and that foreclosures have a negative impact on the value of other homes that are nearby. The effect on nearby property values happens for two different reasons, but my recent work suggests that one or the other predominates depending on certain characteristics of the neighborhood where the foreclosures are occurring. This finding ...
Economic Commentary
, Issue Oct
Working Paper
Designing loan modifications to address the mortgage crisis and the making home affordable program
Mauskopf, Eileen; Liang, J. Nellie; Lehnert, Andreas; Cordell, Lawrence R.; Dynan, Karen E.
(2009)
Delinquencies on residential mortgages and home foreclosures have risen dramatically in the past couple of years. The mortgage losses triggered a broad-based financial crisis and severe recession, which, in turn, exacerbated the initial financial distress faced by homeowners. Although servicers increased their loss mitigation efforts as defaults began to mount, foreclosures continued to occur in cases where both the borrower and investor would be better off if such an outcome were avoided. The U.S. government has engaged in a number of initiatives to reduce such foreclosures. This paper ...
Finance and Economics Discussion Series
, Paper 2009-43
Speech
Mitigating the impact of foreclosures on neighborhoods: a speech at the NeighborWorks America Symposium on Stabilizing Communities in the Wake of Foreclosure, Cincinnati, Ohio, May 7, 2008
Kroszner, Randall S.
(2008)
Speech
, Paper 397
Working Paper
Subprime mortgages, foreclosures, and urban neighborhoods
Willen, Paul S.; Gerardi, Kristopher
(2009)
This paper analyzes the impact of the subprime mortgage crisis on urban neighborhoods in Massachusetts. We explore the topic using a data set that matches race and income information from Home Mortgage Disclosure Act data with property-level, transaction data from Massachusetts Registry of Deeds offices. With these data, we show that much of the subprime lending in the state was concentrated in urban neighborhoods and that minority homeownerships created with subprime mortgages have proved exceptionally unstable in the face of rapid price declines. The evidence in Massachusetts suggests that ...
FRB Atlanta Working Paper
, Paper 2009-01
Journal Article
The foreclosure crisis in 2008: predatory lending or household overreaching?
Fogel, Kathy; Yeager, Timothy J.; Ma, Liping; Lee, Wayne Y.; Emmons, William R.; Rorie, Deena
(2011-07)
At least early in the financial crisis, the high rate of foreclosures seemed to be due more to households' overreaching than to predatory lending. A disproportionate number of those being foreclosed on were well-educated, well-off and relatively young people.
The Regional Economist
, Issue July
, Pages 12-14
Speech
The national and regional economic outlook
Dudley, William
(2011)
Remarks at Fordham University's Gabelli School of Business, Bronx, New York.
Speech
, Paper 69
Journal Article
Nobody's home : weighing the prospects for neighborhoods hit hard by foreclosure
Courtois, Renee
(2010-01)
Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2010/q1/feature3_weblinks.cfm
Econ Focus
, Volume 14
, Issue 1Q
, Pages 22-26
Journal Article
Policy update: Lenders remain slow to modify problem loans
Van Den Berg, David
(2009-07)
Related link(s): https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2009/summer/policy_update_weblinks.cfm
Econ Focus
, Volume 13
, Issue Sum
Journal Article
Experiments in education: what's working in your town?
anonymous
(2012-10)
Forefront
, Issue Fall
, Pages 1
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