This article reviews the dramatic growth of nonbank mortgage lending after the Global
Financial Crisis, especially to borrowers with lower credit scores, and the related importance …

This review develops a theoretical framework that highlights the principles governing
economically meaningful estimates of the cost of bailouts. Drawing selectively on existing …

We argue that the time-varying regional distribution of housing equity influences the
aggregate consequences of monetary policy through its effects on mortgage refinancing …

Using the government-sponsored enterprises' sharp securitization rules, this paper provides
evidence that, in the aftermath of natural disasters, lenders are more likely to approve …

In the early 21st century, five rising powers (Brazil, Russia, India, China, and South Africa)
formed an exclusive international club, the BRICS. Although not extreme revisionists, the …

This paper identifies the impact of borrowing constraints on homeownership in the US in the
aftermath of the 2008 financial crisis. While homeownership declines and tightened credit …

With increasing natural disaster risk and declining flood insurance take-up, homeowners in
coastal areas may be at increasing risk of mortgage default. Banks have the ability to screen …

We argue that the time-varying regional distribution of housing equity influences the
aggregate consequences of monetary policy through its effects on mortgage refinancing …

We use quasi-random access to the Home Affordable Refinance Program (HARP) to identify
the causal effect of refinancing into a lower-rate mortgage on borrower balance sheet …

This article synthesizes the large literature regarding the role of various players in residential
mortgage-backed securities (RMBS) securitization at the center of the 2008–09 US housing …