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Mortgages

Bar-Gill Oren

in Seduction by Contract: Law, Economics, and Psychology in Consumer Markets

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199663361
eISBN:
9780191751660
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199663361.003.0004
Subject:
Law, Company and Commercial Law

This chapter examines the subprime mortgage contract and its central design features. It shows that for many borrowers these contractual design features were not welfare maximizing. In fact, to the ... More


Mortgage Financing in the Housing Boom and Bust

Benjamin J. Keys, Tomasz Piskorski, Amit Seru, and Vikrant Vig

in Housing and the Financial Crisis

Published in print:
2013
Published Online:
January 2014
ISBN:
9780226030586
eISBN:
9780226030616
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226030616.003.0005
Subject:
Economics and Finance, Financial Economics

This chapter traces the rapid evolution of mortgage financing from boom to bust and explores two crucial questions surrounding the market's rise and fall. First, why did the lending boom occur in the ... More


America’s Financial Crisis: The End of an Era

Barry Bosworth and Aaron Flaaen

in The Global Financial Crisis and Asia: Implications and Challenges

Published in print:
2012
Published Online:
January 2013
ISBN:
9780199660957
eISBN:
9780191748981
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199660957.003.0002
Subject:
Economics and Finance, Financial Economics, South and East Asia

This chapter reviews research on the origins of the financial crisis of 2008–2009, highlights the key events that triggered a financial panic in September 2008, and summarizes the extraordinary ... More


Housing Policy, Mortgage Policy, and the Federal Housing Administration

Dwight M. Jaffee and John M. Quigley

in Measuring and Managing Federal Financial Risk

Published in print:
2010
Published Online:
February 2013
ISBN:
9780226496580
eISBN:
9780226496597
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226496597.003.0006
Subject:
Economics and Finance, Econometrics

To further the goal of increasing homeownership, federal housing policy makes extensive use of credit and tax incentives. These activities involve substantial federal cost and risk. This chapter ... More


The Emergence of the Subprime Market

Kathleen C. Engel and Patricia A. McCoy

in The Subprime Virus: Reckless Credit, Regulatory Failure, and Next Steps

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195388824
eISBN:
9780190258535
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195388824.003.0002
Subject:
Business and Management, Political Economy

This chapter traces the emergence of subprime lending. Starting from the home mortgage market in the 1970s, when mortgage lending was the sleepy province of community thrifts and banks; it moves on ... More


Democratic Liberty

Joseph William Singer

in No Freedom without Regulation: The Hidden Lesson of the Subprime Crisis

Published in print:
2015
Published Online:
January 2016
ISBN:
9780300211672
eISBN:
9780300216578
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300211672.003.0006
Subject:
Political Science, Public Policy

Democracies promote liberty by outlawing subprime practices and setting minimum standards for market relationships and for property rights. What we should be against is not “the free market” but ... More


Risk Allocation in Home Ownership: Revisiting the Role of Mortgage Contract Terms

Katherine Porter and Tara Twomey

in Shared Responsibility, Shared Risk: Government, Markets and Social Policy in the Twenty-First Century

Published in print:
2012
Published Online:
February 2015
ISBN:
9780199781911
eISBN:
9780190252519
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199781911.003.0008
Subject:
Political Science, American Politics

This chapter examines risk allocation in home ownership. After providing a historical background on home ownership in the United States, it explains the role of government in mortgage risk management ... More


Prologue

Kathleen C. Engel and Patricia A. McCoy

in The Subprime Virus: Reckless Credit, Regulatory Failure, and Next Steps

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195388824
eISBN:
9780190258535
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195388824.003.0001
Subject:
Business and Management, Political Economy

This chapter traces the development of the subprime crisis, detailing how consumer abuses in an obscure corner of the home mortgage market spawned a virus that led to the near meltdown of the world's ... More


Lessons From Recent Financial Crises

Gilles Bénéplanc and Jean-Charles Rochet

in Risk Management in Turbulent Times

Published in print:
2011
Published Online:
April 2015
ISBN:
9780199774081
eISBN:
9780190258474
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199774081.003.0002
Subject:
Business and Management, Finance, Accounting, and Banking

This chapter explains the objectives of risk management and presents some of the failures revealed by recent crises. In the last decades, large bank and insurance companies have developed ... More


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