- The Federal Reserve Bank of NY’s Center for Microeconomic Data has released its 3rd quarter Household Debt and Credit Report which shows that Mortgage debt, the largest component of household debt, increased in by $144 billion since the 2nd quarter of 2015. Balances on Home Equity Lines of Credit decreased by $7 billion.
- The Mortgage Bankers Association (MBA) sent a letter to the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, proposing that advocating upfront risk sharing targets be set for 2016. This proposal is prompted by FHFA’s near doubling of insurance fees, which are necessary to reduce the risks borne by the taxpayer when debtors default. The MBA is advocating for private opportunity to compete in the insurance of these loans – which they say will lead to lower fees for borrowers as well.
- The National Association of Realtors (NAR) has released its Pending Home Sales Index for October which inches up .2% to sustain 14 consecutive months of increase. NAR also is predicting another housing boom for 2016.
Tag Archives: household debt
Wednesday’s Academic Roundup
- Foiled by the Banks? How a Lender’s Decision May Support or Undermine a Jurisdiction’s Environmental Policies that Promote Green Buildings, Darren A. Prum, Michigan Journal of Environmental & Administrative Law, 2015, Forthcoming.
- The Numerus Clausus Principle, Property Customs, and the Emergence of New Property Forms, Yun-chien Chang & Henry E. Smith, Iowa Law Review, Vol. 100, 2015.
- Building Self-Sufficiency for Housing Voucher Recipients: Interim Findings from the Work Rewards Demonstration in New York City, Stephen Nunez, Nandita Verma & Edith Yang, New York: MDRC, June 2015.
- Size Signals Success: Evidence from Real Estate Private Equity, Sebastian Krautz & Franz Fuerst, Journal of Portfolio Management, Vol. 41, No. 5, 2015.
- Debt, Poverty, and Personal ‘Financial Distress’, Stephen J. Ware, 89 American Bankruptcy Law Journal 493 (2015).
- Household Debt and Crises of Confidence, Thomas Hintermaier & Winfried Koeniger, CEPR Discussion Paper No. DP10865.
- Trend-Spotting in the Housing Market, Nikos Askitas, IZA Discussion Paper No. 9427.
- Large-Scale Buy-to-Rent Investors in the Single-Family Housing Market: The Emergence of a New Asset Class?, James Mills, Raven Molloy & Rebecca Zarutskie, FEDS Working Paper No. FEDGFE2015-84.
- How House Price Dynamics and Credit Constraints Affect the Equity Extraction of Senior Homeowners, Stephanie Moulton, Samuel Dodini, Donald R. Haurin & Maximilian D. Schmeiser, FEDS Working Paper No. FEDGFE2015-70.
- Real Estate Fund Openings and Cannibalization, David H. Downs, Steffen P. Sebastian & Rene-Ojas Woltering.
Wednesday’s Academic Roundup
- The Role of Prepayment Penalties in Mortgage Loans, by Andrea Beltratti, Matteo Benetton & Alessandro Gavazza, CEPR Discussion Paper No. DP10504.
- Inclusion by Design, Thinking Beyond a Civil Rights Paradigm, by Robin Paul Malloy, Land Use Law and Disability: Planning and Zoning for Accessible Communities, Cambridge University Press, 2015.
- Cancer Diagnoses and Household Debt Overhang, by Arpit Gupta, Edward R. Morrison, Catherine Fedorenko & Scott D. Ramsey, Columbia Law and Economics Working Paper No. 514.
- Zoning and Land Use Planning: How Real is Gentrification, by Michael Lewyn, 43 Real Est. L.J. 344 (Winter 2014).
- Maximizing Inclusionary Zoning’s Contributions to Both Affordable Housing and Residential Integration, by Tim Iglesias, Washburn Law Journal, Vol. 54, No. 4, 2015.
- Securitization and Mortgage Default, by Ronel Elul, FRB of Philadelphia Working Paper No. 15-15.
- The Effect of Large Investors on Asset Quality: Evidence from Subprime Mortgage Securities, by Manuel Adelino, W. Scott Frame, & Kristopher Gerardi, FRB Atlanta Working Paper No. 2014-4.
