| 来源类型 | Working Paper |
| 规范类型 | 论文 |
| A quarter century of mortgage risk | |
| Morris A. Davis; Stephen D. Oliner; Will Larson; Benjamin R. Smith | |
| 发表日期 | 2019-02-11 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Editor’s note: This paper has been updated from the original version posted in February 2019. Earlier versions of this paper were posted under the title “Mortgage Risk Since 1990.” Abstract This paper provides a comprehensive account of the evolution of default risk for newly originated home purchase loans over the past quarter century. We bring together several data sources to produce this history, including loan-level data for the entire Enterprise (Fannie Mae and Freddie Mac) book. We use these data to track a large number of loan characteristics and a summary measure of risk, the stressed default rate. Among the many results in the paper, we show that mortgage risk had already risen in the 1990s, planting seeds of the financial crisis well before the actual event. Our results also cast doubt on explanations of the crisis that focus on low-credit-score borrowers. The aggregate series we present in this paper are available for download at https:/www.fhfa.gov/papers/wp1902.aspx. Read the full PDF. |
| 主题 | Economics ; Housing Center |
| 标签 | 2008 financial crisis ; Department of Veterans Affairs (VA) ; Federal Housing Administration (FHA) ; GSEs (Fannie Mae and Freddie Mac) ; Housing Center: Mortgage Risk Index ; Housing Center: Research ; mortgage |
| URL | https://www.aei.org/research-products/working-paper/mortgage-risk-since-1990/ |
| 来源智库 | American Enterprise Institute (United States) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/207397 |
| 推荐引用方式 GB/T 7714 | Morris A. Davis,Stephen D. Oliner,Will Larson,et al. A quarter century of mortgage risk. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| Mortgage-Risk-WP.pdf（1255KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
