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Mortgage Markets

Working Paper

Mortgage Loss Severities: What Keeps Them So High?

WP 20-37 - Mortgage loss-given-default (LGD) increased significantly when house prices plummeted during the financial crisis, but it has remained over 40 percent in recent years, despite a strong housing recovery.

Featured Work

Mortgage Markets

Discussion Paper

Reverse Mortgage Retrospective: How Recent Policy Changes Affected Government-Insured Reverse Mortgage Originations and Performance

DP 20-06 — This discussion paper analyzes the outcomes of recent policy reforms to the federally insured reverse mortgage program.

Residential Mortgage Refinancing During the COVID-19 Pandemic

Historically low interest rates have spurred a refinance wave among American homeowners, particularly those with higher credit scores and greater home equity. However, millions of borrowers may still benefit from refinancing, and industry forecasts suggest interest rates will remain low over the next 12 months.

Consumer Credit

Working Paper

Important Factors Determining Fintech Loan Default: Evidence from the LendingClub Consumer Platform

WP 20-15 - This study examines key default determinants of fintech loans, using loan-level data from the LendingClub consumer platform during 2007–2018.