Harvard Joint Center for Housing Studies
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September 6, 2004
Despite job losses in the rest of the economy, housing had another record-breaking year in 2003. Home sales, single-family housing starts, residential fixed investment,…
BABC 04-23: Mortgage lenders have long used credit scores as a basis for estimating borrower risk. This risk differentiation is reflected in the coupon rate of the loan…
BABC 04-22: Debtor protection rules ought to influence debtor/creditor interaction at three points: postdefault pre-foreclosure negotiations, the rate of default, and…
Susan Wharton Gates, Cindy Waldron, Peter Zorn
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February 13, 2004
BABC 04-13: Automated underwriting (AU) systems have become a tool of choice in mortgage lending decisions. While AU provides significant benefits to mortgage…
BABC 04-10: Spending financed by home equity extraction helps smooth household consumption and bolster the economy in economic downturns, but may reduce wealth…
J. Michael Collins, Eric Belsky, Karl Case
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February 8, 2004
BABC 04-8: This paper explores the shift of residential mortgage lending from a system where credit was rationed to prime quality borrowers to a system where subprime…
BABC 04-7: Little systematic work exists to address the many and varied ways some borrowers end up with subprime mortgages and to what extent those loans serve the true…
BABC 04-6: This paper examines home purchase mortgage choice employing data from 2002. Conventional, FHA, subprime, and special programs for low-to-moderate income…
Raphael Bostic, Paul Calem, Susan Wachter
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February 5, 2004
BABC 04-5: There is a broad consensus regarding the benefits of homeownership, which include wealth accumulation and improvements along social and personal dimensions.…
Zhu Xiao Di, Yi Yang, Xiaodong Liu
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November 30, 2003
W03-5: Housing is the cornerstone of household wealth, especially for low-income households. With the growth in the U.S. homeownership rate, housing wealth is important…
