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Keywords:Mortgages 

Speech
Testimony on housing finance reform: essential elements of a government guarantee for mortgage-backed securities

Testimony before the U.S. Senate Committee on Banking, Housing and Urban Affairs, Washington, D.C.
Speech , Paper 122

Newsletter
Interest-only mortgages and speculation in hot housing markets

Even as housing markets have temporarily shut down across the U.S. during the Covid-19 pandemic, housing remains a key sector that contributes disproportionately to fluctuations in overall economic activity and that will likely play an important role as the economy reopens. Interest in this market among research economists and policymakers intensified after the exceptional boom and bust in housing between 2003 and 2008. In this Chicago Fed Letter, we describe research in Barlevy and Fisher (2020)1 that examined patterns in the kinds of mortgages homebuyers took out in different cities during ...
Chicago Fed Letter , Issue 439 , Pages 6

Journal Article
The securitization of housing finance

Since 1970, housing finance has undergone a radical transformation due to the securitization of mortgage loans. As the market for mortgage securities continues to grow and develop, this transformation raises a number of important public policy issues.
Economic Review , Volume 73 , Issue Jul , Pages 3-20

Working Paper
An analysis of the potential competitive impacts of Basel II capital standards on U.S. mortgage rates and mortgage securitization

Basel II White Paper , Paper 3

Journal Article
Miscommunication shook up mortgage, bond markets

What the Fed said last year it could do if deflation surfaced was one thing. What the markets heard was another. The result was mania in the bond and mortgage markets.
The Regional Economist , Issue Apr , Pages 4-9

Journal Article
The evolving role of the Federal Home Loan Banks in mortgage markets

The Federal Home Loan Banks are part of a system created by the federal government to promote home ownership. This Commentary looks at new initiatives undertaken by these government-sponsored enterprises to expand their role in financial markets-and the attendant implications for their balance sheets.
Economic Commentary , Issue Jun

Working Paper
The role of race in mortgage lending: revisiting the Boston Fed study

This paper reexamines claims that non-economic discrimination persists in mortgage loan origination decisions. I find that racial differences in outcomes do exist, as minorities fare worse regarding debt-to-income requirements but better for loan-to-value requirements. Overall, significant racial differentials exist only for ``marginal'' applicants and are not present for those with higher incomes or those with no credit problems. Thus, the claim that non-economic discrimination is a general phenomenon is refuted. Further, I can say little regarding the existence of discrimination among ...
Finance and Economics Discussion Series , Paper 1997-2

Journal Article
Choosing between an adjustable rate and a fixed rate mortgage

Cross Sections , Issue Sum , Pages 6-8

Journal Article
Statement to Congress, February 4, 1993(credit availability problems in low-income communities)

Federal Reserve Bulletin , Issue Apr , Pages 279-281

Journal Article
Construction and mortgage credit

Federal Reserve Bulletin , Issue Sep , Pages 1091-1096

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