April 24, 2018
An Inquest into the Subprime Crisis
Juan Ospina and Harald Uhlig have posted Mortgage-Backed Securities and the Financial Crisis of 2008: A Post-Mortem to SSRN. Given that the market for private-label MBS pretty much died by 2008, the title is apt. The paper presents a challenge … Continue reading
April 24, 2018 in Statistical studies | Permalink | 1 Comment
March 10, 2017
Minority Homeownership During the Great Recession
Carlos Garriga et al. have posted The Homeownership Experience of Minorities During the Great Recession to SSRN. The paper concludes, The Great Recession wiped out much of the homeownership gains attained during the housing boom. However, the homeownership experience was very different … Continue reading
March 10, 2017 in Statistical studies | Permalink | No Comments
February 18, 2016
Economic Factors That Affect Housing Prices
S&P has posted a paper on Economic Factors That Affect Housing Prices. This is, of course, an important topic, albeit one that is an art as well as a science. While S&P undertook this analysis more for mortgage-backed securities investors than for … Continue reading
February 18, 2016 in Statistical studies | Permalink | No Comments
October 29, 2015
Frannie v. Private-Label Smackdown
S&P posted a report, Historical Data Show That Agency Mortgage Loans Are Likely to Perform Significantly Better Than Comparable Non-Agency Loans. The overview notes, We examined the default frequencies of both agency and non-agency mortgage loans originated from 1999-2008. As … Continue reading
October 29, 2015 in Statistical studies | Permalink | No Comments
October 9, 2015
Loose Credit. Plummeting Prices.
Christopher Palmer has posted Why Did So Many Subprime Borrowers Default During the Crisis: Loose Credit or Plummeting Prices? to SSRN. While this is a technical paper, it is clear from the title that it addresses an important question. If it … Continue reading
October 9, 2015 in Statistical studies | Permalink | No Comments
September 24, 2015
Mortgage Market, Hiding in Plain Sight
I blogged about the Center for Responsible Lending’s take on the 2014 Home Mortgage Disclosure Act (HMDA) data yesterday. The mere act of aggregating this data reveals so much about the state of the mortgage market. Today I am digging into … Continue reading
September 24, 2015 in Statistical studies | Permalink | No Comments
April 3, 2015
Seismic Shift in Lending?
Researchers at the American Enterprise Institute’s International Center on Housing Risk have posted a study that shows a “seismic shift in lending away from large banks to nonbanks.” (1) The key takeaways are The dramatic decline in agency market share … Continue reading
April 3, 2015 in Statistical studies | Permalink | No Comments
