Editor: David Reiss
Brooklyn Law School

October 29, 2015

Frannie v. Private-Label Smackdown

By David Reiss

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 9, 2015

Loose Credit. Plummeting Prices.

By David Reiss

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

September 24, 2015

Mortgage Market, Hiding in Plain Sight

By David Reiss

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

April 3, 2015

Seismic Shift in Lending?

By David Reiss

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

January 22, 2015

Kroll on Mortgage Performance

By David Reiss

The Kroll Bond Rating Agency has issued an update of its residential mortgage-backed securities model methodology, Residential Mortgage Default and Loss Model. Before the financial crisis, ratings models seemed to be very reliable, data-driven models of probity and caution. We … Continue reading

September 30, 2014

Cool Mortgage Tool

By David Reiss

The Urban Institute has created a cool interactive tool to map mortgages in the United States. Enterprise describes the tool as follows: it maps 12 years of data on more than 100 million mortgage originations throughout the U.S. by race … Continue reading

July 23, 2013

Shadowed by the Shadow Inventory

By David Reiss

My former colleague at Seton Hall, Linda Fisher, has posted Shadowed by the Shadow Inventory:  A Newark, New Jersey Case Study of Stalled Foreclosures & Their Consequences on SSRN. The paper presents the findings of a small, but interesting empirical … Continue reading