Editor: David Reiss
Brooklyn Law School

January 25, 2018

Credit Risk Transfer and Financial Crises

By David Reiss

Susan Wachter posted Credit Risk Transfer, Informed Markets, and Securitization to SSRN. It opens, Across countries and over time, credit expansions have led to episodes of real estate booms and busts. Ten years ago, the Global Financial Crisis (GFC), the … Continue reading

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January 25, 2018 in MBS industry | Permalink | No Comments

December 7, 2017

Preparing for the Next Housing Tsunami

By David Reiss

Greg Kaplan et al. posted The Housing Boom and Bust: Model Meets Evidence to SSRN. The abstract reads, We build a model of the U.S. economy with multiple aggregate shocks (income, housing finance conditions, and beliefs about future housing demand) … Continue reading

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December 7, 2017 in MBS industry | Permalink | No Comments

November 30, 2017

Storm-Induced Delinquencies

By David Reiss

The Urban Institute’s Housing Finance Policy Center has released its November 2017 Housing Finance at a Glance Chartbook. The Introduction looks out how this summer’s big storms have pushed up delinquency rates: The Mortgage Bankers Association recently released the results … Continue reading

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November 30, 2017 in MBS industry | Permalink | No Comments

November 9, 2017

Your Lender, The Federal Reserve Board

By David Reiss

Laurie Goodman and Bing Bai at the Urban Institute have posted Normalizing the Federal Reserve’s Balance Sheet The Impact on the Mortgage-Backed Securities Market. It is quite extraordinary to realize that the Federal Reserve owns nearly a third of outstanding residential … Continue reading

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November 9, 2017 in MBS industry | Permalink | No Comments

October 26, 2017

Mortgage Servicing Since The Financial Crisis

By David Reiss

Standard & Poors issued a report, A Decade After The Financial Crisis, What’s The New Normal For Residential Mortgage Servicing? It provides a good overview of how this hidden infrastructure of the mortgage market is functioning after it emerged from … Continue reading

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October 26, 2017 in MBS industry | Permalink | No Comments

May 3, 2017

Hope for the Securitization Market

By David Reiss

The Structured Finance Industry Group has issued a white paper, Regulatory Reform: Securitization Industry Proposals to Support Growth in the Real Economy. While the paper is a useful summary of the industry’s needs, it would benefit from looking at the … Continue reading

March 10, 2017

Minority Homeownership During the Great Recession

By David Reiss

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