Wednesday’s Academic Roundup

Clustered Housing Cycles, Ruben Hernandez-Murillo, Michael Owyang & Margarita Rubio, FRB St. Louis Paper No. FEDLWP2-13-021.
Crowding Out Effects of Refinancing on New Purchase Mortgages, Steven A. Sharpe & Shane M. Sherlund, FEDS Working Paper No. FEDGFE2015-17.
The Determinants of Subprime Mortgage Performance Following a Loan Modification, Maximillian D. Schmeiser & Matthew B. Gross, FEDS Working Paper No. FEDGFE2015-06.
Which Way to Recovery? Housing Market Outcomes and the Neighborhood Stabilization Program, Jenny Schuetz et al., FEDS Working Paper No. FEDGFE2015-04.
Metropolitan Area Home Prices and the Mortgage Interest Deduction: Estimates and Simulations from Policy Change, Hal Martin & Andrew Hanson, FRB of Cleveland Working Paper No. FEDCWP1516.
Regional Redistribution Through the U.S. Mortgage Market, Erik Hurst, Benjamin J. Keys, Amit Seru & Joseph Vavra, Kreisman Working Papers Series in Housing Law and Policy No. 25.
Fewer Vacants, Fewer Crimes? Impacts of Neighborhood Revitalization Policies on Crime, Jonathan S. Spader, Jenny Schuetz & Alvaro Cortes, FEDS Working Paper No. 2015-088.
Fundamental Drivers of Dependence in REIT Returns, Jamie Alcock & Eva Steiner.

Beyond Disparate Impact: How the Fair Housing Movement Can Move On, by Rigel Christine Oliveri, Washburn Law Journal, Forthcoming,
Crowding Out Effects of Refinancing on New Purchase Mortgages, by Steven A. Sharpe & Shane M. Sherlund, FEDS Working Paper No. 2015-017.
Have Distressed Neighborhoods Recovered? Evidence from the Neighborhood Stabilization Program, by Jenny Schuetz, Jonathan S. Spader & Alvaro Cortes, FEDS Working Paper No. 2015-016.
A Standing Question: Mortgages, Assignment, and Foreclosure, by Eric A. Zacks & Dustin A. Zacks, Journal of Corporation Law, Vol. 40, 2015, Forthcoming.
Socioeconomic and Racial Disparities in the Financing Returns to Homeownership, by Tom Mayock & Rachel Spritzer.
REIT Spinoffs: Passive REITs, Active Businesses, by Richard Nugent, Tax Notes, pg. 1513 & 1635, March 23 & 30, 2015.
Asset-Level Risk and Return in Real Estate Investments, by Jacob S. Sagi, April 19, 2015.

Tuesday’s Regulatory & Legislative Round-Up

The Department of Housing and Urban Development Recently Released an Evaluation of the Neighborhood Stabilization Program (NSP) which finds that NSP was too modestly funded to consistently arrest the declines in property values or achieve the impacts that were hoped for.