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Journal Article
Spotlight: Texas subprime mortgages: metros vary on risky loans--and delinquencies
Kumar, Anil; Di, Wenhua (2009-01)
The current financial crisis has brought a severe decline in subprime mortgage lending. Like the nation, Texas and its metros still have exposure to existing loans. Housing prices, unemployment and overall economic activity will play a significant part in determining how many of them run into trouble.
Southwest Economy , Issue Q1 , Pages 7

Journal Article
Foreclosure prevention in the 12th District: the role of community development
anonymous (2008-04)
Community Investments , Volume 20 , Issue Spr

Journal Article
Examining successful collaborations and ongoing barriers to foreclosure prevention
Kuehl, Steven (2009-11)
In November 2008, the Federal Reserve Bank of Chicago?s Consumer and Community Affairs division convened ?Examining Successful Collaborations and Ongoing Barriers to Foreclosure Prevention.? The foreclosure crisis has continued to impact the nation, including the Federal Reserve?s Seventh District; this conference was one in a series that the Chicago Fed has organized since the foreclosure crisis emerged. The conference brought together experts who addressed the issues and concerns surrounding Wisconsin?s increasing number of foreclosures. This article briefly summarizes key information ...
Profitwise , Issue Nov

Working Paper
Foreclosures in Ohio: does lender type matter?
Ergungor, O. Emre (2007)
Whether mortgages are originated mostly by depository institutions regulated by the Federal agencies or by less-regulated lenders does not seem to affect the foreclosure filing rate in Ohio?s counties. What seems to matter is whether the lenders have a physical presence in the market, in which case, foreclosure rates are lower.
Working Papers (Old Series) , Paper 0724

Journal Article
Stripdowns and bankruptcy: lessons from agricultural bankruptcy reform
Fitzpatrick, Thomas J.; Thomson, James B. (2010-08)
One type of financial reform being proposed to deal with the aftermath of the housing crisis is allowing bankruptcy judges the authority to modify residential mortgages in a way referred to as a stripdown. The reform is seen by some as a partial solution to the rise in foreclosures and as a Pandora?s box by others. But the debate is not new one. The 1980s farm foreclosure crisis sparked similar proposals and concerns. Congress decided to enact legislation that contained a stripdown provision, resulting in the creation of Chapter 12 in the bankruptcy code. The effects of Chapter 12 stripdown ...
Economic Commentary , Issue Aug

Journal Article
Repairing the damage
Steeves, Brye (2008-04)
TEN , Issue Spr , Pages 20-27

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

Journal Article
Texas foreclosure timeline
Office, Community Affairs (2007)
Texas has a rather quick foreclosure process for non-home equity loans. (Home equity loans must be foreclosed judicially.) The process is conducted by the trustee designated by the lender in the deed of trust (the mortgage instrument) without any court involvement.
Banking and Community Perspectives , Issue 2 , Pages 7

Speech
Stabilizing neighborhoods: lessons learned from the field: a speech at the Federal Reserve REO and Vacant Properties Summit, Washington, D.C., September 1, 2010
Duke, Elizabeth A. (2010)
Speech , Paper 541

Discussion Paper
Why did so many people make so many ex post bad decisions?: the causes of the foreclosure crisis
Willen, Paul S.; Gerardi, Kristopher S.; Foote, Christopher L. (2012)
This paper presents 12 facts about the mortgage market. The authors argue that the facts refute the popular story that the crisis resulted from financial industry insiders deceiving uninformed mortgage borrowers and investors. Instead, they argue that borrowers and investors made decisions that were rational and logical given their ex post overly optimistic beliefs about house prices. The authors then show that neither institutional features of the mortgage market nor financial innovations are any more likely to explain those distorted beliefs than they are to explain the Dutch tulip bubble ...
Public Policy Discussion Paper , Paper 12-2

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