December 4, 2014
Strip-Downs Are Good
The Philadelphia Fed has posted a Working Paper, Using Bankruptcy to Reduce Foreclosures: Does Strip-Down Of Mortgages Affect The Supply of Mortgage Credit? The paper’s abstract reads, We assess the credit market impact of mortgage “strip-down” — reducing the principal … Continue reading
December 4, 2014 in Regulation | Permalink | No Comments
December 2, 2014
Romano’s Iron Law of Financial Regulation
Roberta Romano has posted an essay, Further Assessment of the the Iron Law of Financial Regulation: A Postscript to Regulating in the Dark, to SSRN. The abstract reads, In an earlier companion essay, Regulating in the Dark, I contended that … Continue reading
December 2, 2014 in Regulation | Permalink | No Comments
November 28, 2014
Accurately Measuring Mortgage Availability
The Urban Institute’s Housing Finance Policy Center has posted a research report, Measuring Mortgage Credit Availability Using Ex-Ante Probability of Default. This report tackles an important subject: How to strike a balance between credit availability and risk to achieve a … Continue reading
November 28, 2014 in Regulation | Permalink | No Comments
November 26, 2014
Manufacturing Jobs in NYC
The New York City Council released a report, Engines of Opportunity: Reinvigorating New York City’s Manufacturing Zones for the 21st Century. I am always worried that discussions of increasing manufacturing jobs, especially in a city as expensive as New York, … Continue reading
November 26, 2014 in Regulation | Permalink | No Comments
November 25, 2014
Housing Finance Reform at a Glance
The Urban Institute has posted its November Housing Finance At A Glance. This is a really valuable resource. The introduction provides a nice overview of recent developments in the area: With a sweeping midterm election victory for the GOP, the … Continue reading
November 25, 2014 in Regulation | Permalink | No Comments
November 21, 2014
Does Morningstar Speak with Forked Tongue?
Morningstar Credit Ratings, a small Nationally Recognized Statistical Rating Organization (albeit a subsidiary of Morningstar, the large investment research firm), has issued a Structured Credit Ratings Commentary on Rating Shopping in Asset Securitization Markets. It finds that Rating shopping is … Continue reading
November 21, 2014 in Regulation | Permalink | No Comments
November 20, 2014
Reiss on GSE Privatization
GlobeSt.com quoted me in Waiting to Say Goodbye to the GSEs. It reads in part, US HUD Secretary Julian Castro added another “to do” item to the lame duck Congress’ list of things they should get done before they adjourn … Continue reading
November 20, 2014 in Regulation | Permalink | No Comments
