Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Speech
Remarks at the launch of the Mortgage Relief Fund.
Rosengren, Eric S. (2007)
Presented by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for the Mortgage Relief Fund Press Conference, December 20, 2007
Speech , Paper 6

Journal Article
Alt-A: the forgotten segment of the mortgage market
Sengupta, Rajdeep (2010-01)
This study presents a brief overview of the Alt-A mortgage market with the goal of outlining broad trends in the different borrower and mortgage characteristics of Alt-A market originations between 2000 and 2006. The paper also documents the default patterns of Alt-A mortgages in terms of the various borrower and mortgage characteristics over this period.
Review , Volume 92 , Issue Jan , Pages 55-72

Working Paper
Where's the smoking gun? a study of underwriting standards for US subprime mortgages
Sengupta, Rajdeep; Bhardwaj, Geetesh (2008)
The dominant explanation for the meltdown in the US subprime mortgage market is that lending standards dramatically weakened after 2004. Using loan-level data, we examine underwriting standards on the subprime mortgage originations from 1998 to 2007. Contrary to popular belief, we find no evidence of a dramatic weakening of lending standards within the subprime market. We show that while underwriting may have weakened along some dimensions, it certainly strengthened along others. Our results indicate that (average) observable risk characteristics on mortgages underwritten post-2004 would have ...
Working Papers , Paper 2008-036

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

Working Paper
Financial crises and bank failures: a review of prediction methods
Demyanyk, Yuliya; Hasan, Iftekhar (2009)
In this article we analyze financial and economic circumstances associated with the U.S. subprime mortgage crisis and the global financial turmoil that has led to severe crises in many countries. We suggest that the level of cross-border holdings of long-term securities between the United States and the rest of the world may indicate a direct link between the turmoil in the securitized market originated in the United States and that in other countries. We provide a summary of empirical results obtained in several Economics and Operations Research papers that attempt to explain, predict, or ...
Working Papers (Old Series) , Paper 0904

Journal Article
Subprime Mortgage Performance by Metro Area
Di, Wenhua (2008)
Dallas-Fort Worth-Arlington and Houston-Sugar Land-Baytown lead the state with the most securitized, owner-occupied subprime mortgages. These two metros also have a much larger number of problematic loans compared with other Texas metros.
e-Perspectives , Volume 8 , Issue 2

Journal Article
The subprime meltdown: who knew what when?
McCoy, Patricia A.; Engel, Kathleen C. (2010-10)
Today there is a frequent refrain that the subprime collapse came as a surprise. We contend that, on the contrary, many saw it coming. Starting in the 1990s, there were white papers by consumer organizations and articles in newspapers about abuses in the subprime market. Consumer advocates repeatedly testified before House and Senate committees, citing evidence that, for example, home foreclosures had tripled between 1982 and 1997, high-cost subprime loans accounted for 22 percent of all foreclosures in 1998, and many subprime loans were simply unaffordable.
Communities and Banking , Issue Fall , Pages 16-18

Working Paper
Did affordable housing legislation contribute to the subprime securities boom?
Hernandez-Murillo, Ruben; Owyang, Michael T.; Ghent, Andra C. (2012)
No. In this paper we use a regression discontinuity approach to investigate whether affordable housing policies influenced origination or affected prices of subprime mortgages. We use merged loan-level data on non-prime securitized mortgages with individual- and neighborhood-level data for California and Florida. We find no evidence that lenders increased subprime originations or altered pricing around the discrete eligibility cutoffs for the Government Sponsored Enterprises (GSEs) affordable housing goals or the Community Reinvestment Act. Our results indicate that the extensive purchases of ...
Working Papers , Paper 2012-005

Report
MBS ratings and the mortgage credit boom
Ashcraft, Adam B.; Vickery, James; Goldsmith-Pinkham, Paul (2010)
We study credit ratings on subprime and Alt-A mortgage-backed-securities (MBS) deals issued between 2001 and 2007, the period leading up to the subprime crisis. The fraction of highly rated securities in each deal is decreasing in mortgage credit risk (measured either ex ante or ex post), suggesting that ratings contain useful information for investors. However, we also find evidence of significant time variation in risk-adjusted credit ratings, including a progressive decline in standards around the MBS market peak between the start of 2005 and mid-2007. Conditional on initial ratings, we ...
Staff Reports , Paper 449

Speech
What the Fed did and why
Tracy, Joseph (2010)
Remarks at the Westchester County Bankers Association, Tarrytown, New York.
Speech , Paper 27

show more (3)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Keywords