Download or read book Expanding Refinancing Opportunities to Improve the Housing Market written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2013 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Expanding Refinancing Opportunities to Improve the Housing Market written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2013 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Expanding Refinancing Opportunities to Improve the Housing Market written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2013 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book S Hrg 112 677 written by U.S. Government Printing Office (Gpo) and published by BiblioGov. This book was released on 2013-08 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States Government Printing Office (GPO) was created in June 1860, and is an agency of the U.S. federal government based in Washington D.C. The office prints documents produced by and for the federal government, including Congress, the Supreme Court, the Executive Office of the President and other executive departments, and independent agencies. A hearing is a meeting of the Senate, House, joint or certain Government committee that is open to the public so that they can listen in on the opinions of the legislation. Hearings can also be held to explore certain topics or a current issue. It typically takes between two months up to two years to be published. This is one of those hearings.
Download or read book Equilibrium Mortgage Choice and Housing Tenure Decisions with Refinancing written by Matthew Chambers and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "The last decade has brought about substantial mortgage innovation and increased refinancing. The objective of the paper is to understand the determinants and implications of mortgage choice in the context of general equilibrium model with incomplete markets. The equilibrium characterization allows us to study the impact of mortgage financing = decisions in the productive economy. We show the influence of different contract characteristics such as the downpayment requirement, repayment structure, and the amortization schedule for mortgage choice. We find that loan products that allow for low or no downpayment or an increasing repayment schedule increase the participation of young and lower income households. We find evidence that the volume of housing transactions increase when the payment profile is increasing and households have little housing equity. In contrast, we show that loans that allow for a rapid accumulation of home equity can still have positive participation effects without increasing the volatility of the housing market. The model predicts that the expansion of mortgage contracts and refinancing improves risk sharing opportunities for homeowners but the magnitude varies with each contract"--Federal Reserve Bank of St. Louis web site.
Download or read book Fixing the Housing Market written by Franklin Allen and published by Pearson Prentice Hall. This book was released on 2012 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains the financial history leading to the mortgage meltdown and assesses today's housing finance systems in the United States and abroad.
Download or read book Equilibrium Mortgage Choice and Housing Tenure Decisions With Refinancing written by Matthew Chambers and published by . This book was released on 2015 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last decade has brought about substantial mortgage innovation and increased refinancing. The objective of the paper is to understand the determinants and implications of mortgage choice in the context of general equilibrium model with incomplete markets. The equilibrium characterization allows us to study the impact of mortgage financing = decisions in the productive economy. We show the influence of different contract characteristics such as the downpayment requirement, repayment structure, and the amortization schedule for mortgage choice. We find that loan products that allow for low or no downpayment or an increasing repayment schedule increase the participation of young and lower income households. We find evidence that the volume of housing transactions increase when the payment profile is increasing and households have little housing equity. In contrast, we show that loans that allow for a rapid accumulation of home equity can still have positive participation effects without increasing the volatility of the housing market. The model predicts that the expansion of mortgage contracts and refinancing improves risk sharing opportunities for homeowners but the magnitude varies with each contract.
Download or read book New Ideas for Refinancing and Restructuring Mortgage Loans written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Housing, Transportation, and Community Development and published by . This book was released on 2012 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Systemic risk and the refinancing ratchet effect written by Amir E. Khandani and published by . This book was released on 2009 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: The confluence of three trends in the U.S. residential housing market---rising home prices, declining interest rates, and near-frictionless refinancing opportunities---led to vastly increased systemic risk in the financial system. Individually, each of these trends is benign, but when they occur simultaneously, as they did over the past decade, they impose an unintentional synchronization of homeowner leverage. This synchronization, coupled with the indivisibility of residential real estate that prevents homeowners from deleveraging when property values decline and homeowner equity deteriorates, conspire to create a "ratchet" effect in which homeowner leverage is maintained or increased during good times without the ability to decrease leverage during bad times. If refinancing-facilitated homeowner-equity extraction is sufficiently widespread---as it was during the years leading up to the peak of the U.S. residential real-estate market---the inadvertent coordination of leverage during a market rise implies higher correlation of defaults during a market drop. To measure the systemic impact of this ratchet effect, we simulate the U.S. housing market with and without equity extractions, and estimate the losses absorbed by mortgage lenders by valuing the embedded put-option in non-recourse mortgages. Our simulations generate loss estimates of $1.5 trillion from June 2006 to December 2008 under historical market conditions, compared to simulated losses of $280 billion in the absence of equity extractions.
Download or read book Daily Digest written by and published by Government Printing Office. This book was released on with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Year 2016 Analytical Perspectives Budget of the U S Government written by and published by Government Printing Office. This book was released on 2015-02-02 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains analyses that are designed to highlight specified subject areas or provide other significant presentations of budget data that place the budget in perspective. This volume includes economic and accounting analyses; information on Federal receipts and collections; analyses of Federal spending; detailed information on Federal borrowing and debt; baseline or current services estimates; and other technical presentations.
Download or read book Budget of the United States Government written by United States. Office of Management and Budget and published by . This book was released on 2008 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Legislative Calendar written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs and published by . This book was released on 1992 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Evidence Matters written by and published by . This book was released on 2016 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Congressional Record written by United States. Congress and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)
Download or read book The Adaptive Markets Hypothesis written by Andrew W. Lo and published by Oxford University Press. This book was released on 2024-02-22 with total page 801 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Adaptive Markets Hypothesis (AMH) presents a formal and systematic exposition of a new narrative about financial markets that reconciles rational investor behaviour with periods of temporary financial insanity. In this narrative, intelligent but fallible investors learn from and adapt to randomly shifting environments. Financial markets may not always be efficient, but they are highly competitive, innovative, and adaptive, varying in their degree of efficiency as investor populations and the financial landscape change over time. Andrew Lo and Ruixun Zhang develop the mathematical foundations of the AMH—a simple yet surprisingly powerful set of evolutionary models of behaviour—and then apply these foundations to show how the most fundamental economic behaviours that we take for granted can arise solely through natural selection. Drawing on recent advances in cognitive neuroscience and artificial intelligence, the book also explores how our brain affects economic and financial decision making. The AMH can be applied in many contexts, ranging from designing trading strategies, to managing risk and understanding financial crises, to formulating macroprudential policies to promote financial stability. This volume is a must read for anyone who has ever been puzzled and concerned by the behaviour of financial markets and the implications for their personal wealth, and seeks to learn how best to respond to such behaviour.
Download or read book World Economic Outlook October 2012 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2012-10-08 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: The October 2012 World Economic Outlook (WEO) assesses the prospects for the global recovery in light of such risks as the ongoing euro area crisis and the "fiscal cliff" facing U.S. policymakers. Reducing the risks to the medium-term outlook implies reducing public debt in the major advanced economies, and Chapter 3 explores 100 years of history of dealing with public debt overhangs. In emerging market and developing economies, activity has been slowed by policy tightening in response to capacity constraints, weaker demand from advanced economies, and country-specific factors, but policy improvements have raised these economies' resilience to shocks, an issue explored in depth in Chapter 4.
