HOUSING FINANCE POLICY CENTER PUBLICATIONS AND BLOG POSTS Publications

OCTOBER–DECEMBER 2015

Delivering on the Promise of Risk-Sharing 1.December 1, 2015 Laurie Goodman, Jim Parrot, Mark Zandi

Americans’ Debt Styles by Age and over Time 2.November 16, 2015 Wei Li, Laurie Goodman

Declining Agency MBS Liquidity Is Not All 3.about Financial Regulation November 2, 2015 Karan Kaul, Laurie Goodman

The Demographics of Demand 4.October 15, 2015 Laurie Goodman

Detroit Housing Tracker: Q3 2015 5.October 5, 2015 Bing Bai, Laurie Goodman, Karan Kaul

Proposed Changes to the Federal Housing 6.Administration’s Loan-Level Certification October 1, 2015 Jim Parrott, Laurie Goodman, Mark Zandi

JULY–SEPTEMBER 2015

Single-Family Rentals: A New Approach to 7.Affordable Housing September 28, 2015 Dan Magder, Laurie Goodman

The Rebirth of Securitization: Where Is the 8.Private-Label Mortgage Market? September 10, 2015 Laurie Goodman

Fixing FHA’s Certification: Time to Turn a 9.Sword into a Plowshare September 3, 2015 Jim Parrott

FHA’s Proposed Servicing Reforms Need More 10.Thought August 28, 2015 Laurie Goodman

Principal Reduction and the GSEs 11.August 18, 2015 Laurie Goodman, Jim Parrott, Jun Zhu

The Credit Box Shows Early Signs of Loosening: 12.Evidence from the Latest HCAI Update July 21, 2015 Bing Bai, Wei Li, Laurie Goodman

Fixing the FHA’s Loan Certification: A Proposal 13.July 14, 2015 Laurie Goodman, Jim Parrott, Lewis Ranieri, Ellen Seidman, Mark Zandi

JANUARY–JUNE 2015

Use the Expanded-Data Index to Set Mortgage 14.Loan Limits June 17, 2015 Laurie Goodman

Headship and Homeownership: What Does the 15.Future Hold? June 8, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

Page 1 of 25

Privatizing Fannie and Freddie: Be Careful 16.What You Ask For May 18, 2015 Jim Parrott, Mark Zandi

TILA-RESPA Integrated Disclosure: Examining 17.the Costs and Benefits to the Real Estate Settlement Process May 14, 2015 Laurie Goodman

Wielding a Heavy Enforcement Hammer Has 18.Unintended Consequences for the FHA Mortgage Market May 7, 2015 Laurie Goodman

A Closer Look at the Data on First-Time 19.Homebuyers May 1, 2015 Bing Bai, Jun Zhu, Laurie Goodman

A Modest Recalibration of GSE Pricing 20.April 17, 2015 Jim Parrott

The GSEs’ Shrinking Role in the Multifamily 21.Market April 8, 2015 Karan Kaul

The Impact of Tight Credit Standards on 2009–22.13 Lending April 2, 2015 Laurie Goodman, Jun Zhu, Taz George

Early Steps Down the Path of GSE Reform 23.March 23, 2015 Jim Parrott

What to Make of the Dramatic Fall in GSE 24.Profits March 16, 2015 Jim Parrott

The Impact of Early Efforts to Clarify Mortgage 25.Repurchases March 12, 2015 Laurie Goodman , Jim Parrott , Jun Zhu

The US Treasury’s Credit Rating Exercise 26.February 6, 2015 Laurie Goodman, Jim Parrott

Loss Severity on Residential Mortgages 27.February 2, 2015 Laurie Goodman , Jun Zhu

The Federal Housing Finance Agency’s Federal 28.Home Loan Bank Members Proposal Overshoots the Mark January 13, 2015 Laurie Goodman, Jim Parrott, Karan Kaul

The 2014 Actuarial Report on the FHA Mutual 29.Mortgage Insurance Fund January 6, 2015 Laurie Goodman

Page 2 of 25

JULY–DECEMBER 2014

Servicing Is an Underappreciated Constraint on 30.Credit Access December 16, 2014 Laurie Goodman

A Better Measure of Mortgage Application 31.Denial Rates December 2, 2014 Wei Li, Laurie Goodman

Measuring Mortgage Credit Availability Using 32.Ex-Ante Probability of Default November 18, 2014 Wei Li, Laurie Goodman

Measuring Mortgage Credit Accessibility 33.November 3, 2014 Wei Li, Laurie Goodman, Ellen Seidman, Jim Parrott, Jun Zhu, Bing Bai

Comment Letter on the CFPB’s HMDA 34.Mortgage Data Proposal October 22, 2014 Ellen Seidman, Laurie Goodman, Wei Li, Jim Parrott, Kathryn L.S. Pettit, Carlos Martín, Peter Tatian

Assessing the Proposed Housing Goals 35.October 22, 2014 Jim Parrott, Laurie Goodman, Wei Li, Ellen Seidman, Jun Zhu

Comment Letter on the CFPB’s HMDA 36.Mortgage Data Proposal October 20, 2014 Ellen Seidman, Wei Li, Jim Parrott, Carlos Martín, Kathryn L.S. Pettit, Peter A. Tatian

Assessing the Proposed Housing Goals 37.October 20, 2014 Jim Parrott, Laurie Goodman, Wei Li, Ellen Seidman, Jun Zhu

A New View of the Housing Boom and Bust 38.September 17, 2014 Bing Bai, Taz George

HARP Significantly Reduced Mortgage Default 39.Rates September 3, 2014 Jun Zhu

Charting the Course to a Single Security 40.September 3, 2014 Laurie Goodman, Lewis Ranieri

Putting Mortgage Insurers on Solid Ground 41.August 26, 2014 Mark Zandi, Jim Parrott, Cristian deRitis

A Realistic Assessment of Housing Finance 42.Reform August 18, 2014 Laurie Goodman

Guarantee Fees - An Art, Not a Science 43.August 14, 2014 Laurie Goodman, Ellen Seidman, Jim Parrott, Jun Zhu

Nonbank Specialty Servicers: What’s the Big 44.Deal? August 4, 2014 Pamela Lee

VA Loans Outperform FHA Loans. Why? And 45.What Can We Learn? July 16, 2014 Laurie Goodman, Ellen Seidman, Jun Zhu

A Johnson-Crapo Dialogue 46.July 14, 2014 Jim Parrott, Ellen Seidman, Laurie Goodman

Page 3 of 25

JANUARY–JUNE 2014

Supplementing the Compare Ratio: An 47.Important Step toward Opening the Credit Box June 9, 2014 Laurie Goodman

Why Long-Term GSE Reform Requires 48.Congress May 22, 2014 Jim Parrott

HAMP Modifications: Is Reset Risk an Issue? 49.May 14, 2014 Laurie Goodman, Jun Zhu

A Strong Pivot from the New Director of FHFA 50.May 13, 2014 Jim Parrott

Don’t Let Fannie-Freddie Reform Fizzle 51.April 25, 2014 Mark Zandi, Jim Parrott

Johnson-Crapo GSE Discussion Draft: A Few 52.Suggestions for Improvement April 15, 2014 Laurie Goodman, Ellen Seidman

National Mortgage Settlement: Lessons 53.Learned April 14, 2014 Laurie Goodman, Maia Woluchem

OASIS: A Securitization Born from MSR 54.Transfers April 1, 2014 Laurie Goodman, Pamela Lee

Where Have All the Loans Gone? The Impact of 55.Credit Availability on Mortgage Volume March 13, 2014 Laurie Goodman, Jun Zhu, Taz George

Lifting the Fog around FHA Lending? 56.March 13, 2014 Jim Parrott

The Mortgage Forgiveness Debt Relief Act Has 57.Expired. Renewal Could Benefit Millions. February 14, 2014 Laurie Goodman, Ellen Seidman

Single-Family Securitized Financing: A 58.Blueprint for the Future January 17, 2014 Laurie Goodman

GSE Reform: Diversification Is Critical in Sizing 59.the Capital Requirement in the New Regime January 15, 2014 Laurie Goodman, Jun Zhu

FHA Loan Limits: What Areas Are the Most 60.Affected? January 15, 2014 Laurie Goodman, Ellen Seidman, Jun Zhu

FEBRUARY–DECEMBER 2013

Housing Finance Reform: Fundamentals of 61.Transferring Credit Risk in a Future Housing Finance System December 12, 2013 Laurie Goodman

Sunset Provisions on Reps and Warrants: Can 62.They Be More Flexible While Still Protecting the GSEs? November 27, 2013 Laurie Goodman, Jun Zhu

Page 4 of 25

The Impact of Mortgage Rate Increases on 63.Housing Affordability November 12, 2013 Lan Shi, Laurie Goodman

Reps and Warrants: Lessons from the GSEs 64.Experience October 24, 2013 Laurie Goodman, Jun Zhu

The GSE Reform Debate: How Much Capital Is 65.Enough? October 24, 2013 Laurie Goodman, Jun Zhu

Eminent Domain: The Debate Distracts from 66.Pressing Problems October 24, 2013 Pamela Lee

QRM Comment Letter: Credit Risk Retention 67.October 24, 2013 Laurie Goodman

Opening the Credit Box 68.September 30, 2013 Jim Parrott, Mark M. Zandi

A Pragmatic Plan for Housing Finance Reform 69.June 19, 2013 Ellen Seidman, Phillip L. Swagel, Sarah Rosen Wartell, Mark Zandi

Sustainable Housing Finance: Perspectives on 70.Reforming FHA April 10, 2013 Sarah Rosen Wartell

Addressing FHA’s Financial Condition and 71.Program Challenges Part II February 28, 2013 Sarah Rosen Wartell

Page 5 of 25

HOUSING FINANCE AT A GLANCE: A MONTHLY CHARTBOOK

December 15, 2015

November 19, 2015

October 20, 2015

September 25, 2015

August 26, 2015

July 29, 2015

June 26, 2015

May 20, 2015

April 21, 2015

March 18, 2015

February 17, 2015

January 20, 2015

December 16, 2014

November 18, 2014

October 22, 2014

September 16, 2014

August 20, 2014

July 22, 2014

June 17, 2014

May 20, 2014

April 15, 2014

March 18, 2014

February, 14, 2014

January 21, 2014

December 19, 2013

November 18, 2013

October 24, 2013

Page 6 of 25

Publications by Topic

CREDIT ACCESS

The Credit Box Shows Early Signs of Loosening: 1.Evidence from the Latest HCAI Update July 21, 2015 Bing Bai, Wei Li, Laurie Goodman

The Impact of Tight Credit Standards on 2009–2.13 Lending April 2, 2015 Laurie Goodman, Jun Zhu, Taz George

The Impact of Early Efforts to Clarify Mortgage 3.Repurchases March 12, 2015 Laurie Goodman, Jim Parrott, Jun Zhu

Servicing Is an Underappreciated Constraint on 4.Credit Access December 16, 2014 Laurie Goodman

A Better Measure of Mortgage Application 5.Denial Rates December 2, 2014 Wei Li, Laurie Goodman

Measuring Mortgage Credit Availability Using 6.Ex-Ante Probability of Default November 18, 2014 Wei Li, Laurie Goodman

Where Have All the Loans Gone? The Impact of 7.Credit Availability on Mortgage Volume March 13, 2014 Laurie Goodman, Jun Zhu, Taz George

Sunset Provisions on Reps and Warrants: Can 8.They Be More Flexible While Still Protecting the GSEs? November 27, 2013 Laurie Goodman, Jun Zhu

Reps and Warrants: Lessons from the GSEs 9.Experience October 24, 2013 Laurie Goodman, Jun Zhu

Opening the Credit Box 10.September 30, 2013 Jim Parrott, Mark Zandi

CRISIS RESOLUTION

Detroit Housing Tracker: Q3 2015 1.October 5, 2015 Bing Bai, Laurie Goodman, Karan Kaul

The Rebirth of Securitization: Where Is the 2.Private-Label Mortgage Market? September 10, 2015 Laurie Goodman

HAMP Modifications: Is Reset Risk an Issue? 3.May 14, 2014 Laurie Goodman, Jun Zhu

National Mortgage Settlement 4.April 15, 2014 Maia Woluchem

The Mortgage Forgiveness Debt Relief Act Has 5.Expired. Renewal Could Benefit Millions. February 14, 2014 Laurie Goodman, Ellen Seidman

QRM Comment Letter: Credit Risk Retention 6.October 24, 2013 Laurie Goodman

Page 7 of 25

FHA/VA/GNMA

Proposed Changes to the Federal Housing 1.Administration’s Loan-Level Certification October 1, 2015 Jim Parrott, Laurie Goodman, Mark Zandi

Fixing FHA’s Certification: Time to Turn a 2.Sword into a Plowshare September 3, 2015 Jim Parrott

FHA’s Proposed Servicing Reforms Need More 3.Thought August 28, 2015 Laurie Goodman

Fixing the FHA’s Loan Certification: A Proposal 4.July 14, 2015 Laurie Goodman, Jim Parrott, Lewis Ranieri, Ellen Seidman, Mark Zandi

Wielding a Heavy Enforcement Hammer Has 5.Unintended Consequences for the FHA Mortgage Market May 7, 2015 Laurie Goodman

TILA-RESPA Integrated Disclosure: Examining 6.the Costs and Benefits to the Real Estate Settlement Process May 14, 2015 Laurie Goodman

The 2014 Actuarial Report on the FHA Mutual 7.Mortgage Insurance Fund January 6, 2015 Laurie Goodman

VA Loans Outperform FHA Loans. Why? And 8.What Can We Learn? July 16, 2014 Laurie Goodman, Ellen Seidman, Jun Zhu

Supplementing the Compare Ratio 9.June 9, 2014 Laurie Goodman

Lifting the Fog around FHA Lending? 10.March 13, 2014 Jim Parrott

FHA Loan Limits: What Areas Are the Most 11.Affected? January 15, 2014 Laurie Goodman, Ellen Seidman, Jun Zhu

Sustainable Housing Finance: Perspectives on 12.Reforming FHA April 10, 2013 Sarah Rosen Wartell

Addressing FHA’s Financial Condition and 13.Program Challenges Part II February 28, 2013 Sarah Rosen Wartell

FUTURE TRENDS

The Demographics of Demand 1.October 15, 2015 Laurie Goodman

Headship and Homeownership: What Does the 2.Future Hold? June 8, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

Single-Family Securitized Financing: A 3.Blueprint for the Future? January 17, 2014 Laurie Goodman

Page 8 of 25

GSES

Delivering on the Promise of Risk-Sharing 1.December 1, 2015 Laurie Goodman, Jim Parrot, Mark Zandi

Principal Reduction and the GSEs 2.August 18, 2015 Laurie Goodman, Jim Parrott, Jun Zhu

Use the Expanded-Data Index to Set Mortgage 3.Loan Limits June 17, 2015 Laurie Goodman

Privatizing Fannie and Freddie: Be Careful 4.What You Ask For May 18, 2015 Jim Parrott, Mark Zandi

A Modest Recalibration of GSE Pricing 5.April 17, 2015 Jim Parrott

The GSEs’ Shrinking Role in the Multifamily 6.Market April 8, 2015 Karan Kaul

Early Steps Down the Path of GSE Reform 7.March 23, 2015 Jim Parrott

What to Make of the Dramatic Fall in GSE 8.Profits March 16, 2015 Jim Parrott

The Impact of Early Efforts to Clarify Mortgage 9.Repurchases March 12, 2015 Laurie Goodman, Jim Parrott , Jun Zhu

The US Treasury’s Credit Rating Exercise 10.February 6, 2015 Laurie Goodman, Jim Parrott

The Federal Housing Finance Agency’s Federal 11.Home Loan Bank Members Proposal Overshoots the Mark January 13, 2015 Laurie Goodman, Jim Parrott, Karan Kaul

Assessing the Proposed Housing Goals 12.October 20, 2014 Jim Parrott, Laurie Goodman, Wei Li, Ellen Seidman, Jun Zhu

HARP Significantly Reduced Mortgage Default 13.Rates September 3, 2014 Jun Zhu

Charting the Course to a Single Security 14.September 3, 2014 Laurie Goodman, Lewis Ranieri

Putting Mortgage Insurers on Solid Ground 15.August 26, 2014 Mark Zandi, Jim Parrott, Cristian deRitis

A Realistic Assessment of Housing Finance 16.Reform August 18, 2014 Laurie Goodman

Guarantee Fees - An Art, Not a Science 17.August 14, 2014 Laurie Goodman, Ellen Seidman, Jim Parrott , Jun Zhu

A Johnson-Crapo Dialogue 18.July 14, 2014 Jim Parrott, Ellen Seidman, Laurie Goodman

Why Long Term GSE Reform Requires Congress 19.May 22, 2014 Jim Parrott

A Strong Pivot from the New Director of FHFA 20.May 13, 2014 Jim Parrott

Page 9 of 25

Don’t Let Fannie-Freddie Reform Fizzle 21.April 25, 2014 Mark Zandi, Jim Parrott

Johnson-Crapo GSE Discussion Draft: A Few 22.Suggestions for Improvement April 15, 2014 Laurie Goodman, Ellen Seidman

GSE Reform: Diversification is Critical in Sizing 23.the Capital Requirement in the New Regime January 15, 2014 Laurie Goodman, Jun Zhu

Housing Finance Reform: Fundamentals of 24.Transferring Credit Risk in a Future Housing Finance System December 12, 2013 Laurie Goodman

Sunset Provisions on Reps and Warrants: Can 25.They Be More Flexible While Still Protecting the GSEs? November 27, 2013 Laurie Goodman, Jun Zhu

Reps and Warrants: Lessons from the GSEs 26.Experience October 24, 2013 Laurie Goodman, Jun Zhu

The GSE Reform Debate: How Much Capital Is 27.Enough? October 24, 2013 Laurie Goodman, Jun Zhu

A Pragmatic Plan for Housing Finance Reform 28.June 19, 2013 Ellen Seidman, Phillip L. Swagel, Sarah Rosen Wartell, Mark Zandi

MULTIFAMILY

Single-Family Rentals: A New Approach to 1.Affordable Housing September 28, 2015 Dan Magder, Laurie Goodman

The GSEs’ Shrinking Role in the Multifamily 2.Market April 8, 2015 Karan Kaul

Single-Family Securitized Financing: A 3.Blueprint for the Future? January 17, 2014 Laurie Goodman

SERVICING

Servicing Is an Underappreciated Constraint on 1.Credit Access December 16, 2014 Laurie Goodman

Nonbank Specialty Servicers: What’s the Big 2.Deal? August 4, 2014 Pamela Lee

OASIS: A Securitization Born from MSR 3.Transfers April 1, 2014 Pamela Lee

Page 10 of 25

OTHER

Declining Agency MBS Liquidity Is Not All 1.about Financial Regulation November 2, 2015 Karan Kaul, Laurie Goodman

Americans’ Debt Styles by Age and over Time 2.November 16, 2015 Wei Li, Laurie Goodman

A Closer Look at the Data on First-Time 3.Homebuyers May 1, 2015 Bing Bai, Jun Zhu, Laurie Goodman

Loss Severity on Residential Mortgages 4.February 2, 2015 Laurie Goodman, Jun Zhu

Comment Letter on the CFPB’s HMDA 5.Mortgage Data Proposal October 20, 2014 Ellen Seidman, Wei Li, Jim Parrott , Carlos Martín, Kathryn L.S. Pettit, Peter A. Tatian

The Impact of Mortgage Rate Increases on 6.Housing Affordability November 12, 2013 Lan Shi, Laurie Goodman

Eminent Domain: The Debate Distracts from 7.Pressing Problems October 24, 2013 Pamela Lee

Page 11 of 25

Blog Posts

OCTOBER–DECEMBER 2015

Making sure the FHFA’s duty to serve 1.regulations help underserved housing markets December 31, 2015 Ellen Seidman, Barry Zigas

Why the housing market can’t ignore US 2.demographic changes December 22, 2015 Sheryl Pardo

We’re not accurately assessing the Federal 3.Housing Administration’s solvency November 30, 2015 Laurie Goodman

The link between land-use restriction and 4.growing inequality Leigh Franke November 23, 2015

Six new insights about Americans’ borrowing 5.habits October 16, 2015 Wei Li, Laurie Goodman

How FHA’s new program could help keep rental 6.housing affordable October 23, 2015 Ellen Seidman

Despite progress, minority borrowers still lag 7.behind in the housing recovery October 15, 2015 Bing Bai, Sheryl Pardo, Karan Kaul

Why you should care that private investors 8.don’t want to buy your mortgage anymore October 9, 2015 Laurie Goodman

Is Detroit’s “Rehabbed and Ready” program the 9.answer to the city’s appraisal problem? October 5, 2015 Laurie Goodman, Karan Kaul

JULY–SEPTEMBER 2015

Heavy rent burdens + strong renter growth = 10.tough times ahead for US households September 29, 2015 Rolf Pendall, Laurie Goodman, Jun Zhu

Single-family homes can help address the 11.affordable rental-housing crisis September 28, 2015 Dan Magder, Laurie Goodman

FHA’s new performance metric could open the 12.credit box September 14, 2015 Karan Kaul

A mortgage program to better serve the next 13.generation of borrowers September 11, 2015 Laurie Goodman, Eva Wingren

Is principal reduction an effective way to 14.modify troubled mortgages? August 17, 2015 Yami Payano

How will we know when the mortgage market 15.has fully recovered? August 10, 2015 Karan Kaul

Page 12 of 25

It’s still too hard for most Americans to get a 16.mortgage July 30, 2015 Laurie Goodman, Wei Li, Bing Bai

Five benefits of government mortgage 17.programs July 20, 2015 Sheryl Pardo, Karan Kaul

Three GSE risk-sharing innovations that could 18.change housing finance reform July 9, 2015 Laurie Goodman, Karan Kaul

Can the mortgage market handle the surge in 19.minority homeownership? July 1, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

JANUARY–JUNE 2015

We are not prepared for the growth in rental 20.demand June 24, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

Explosion in senior households by 2030 21.demands housing and community adaptations June 15, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

A lower homeownership rate is the new normal 22.June 9, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

The weak housing market recovery in 23.Baltimore has hurt African Americans the most May 21, 2015 Taz George, Bing Bai

FHA premium cut pushes refinance activity to 24.highest level in 20 months May 29, 2015 Karan Kaul, Bing Bai

Ginnie Mae should correct the glitch in first-25.time homebuyer data May 14, 2015 Bing Bai, Jun Zhu

Give lenders more time to implement new 26.borrower disclosure rules May 15, 2015 Laurie Goodman

Broken mortgage servicing regulations limiting 27.access to credit May 12, 2015 Karan Kaul

The cheapest homes fared better in the housing 28.crisis, but only in certain regions May 4, 2015 Bing Bai, Jun Zhu

What’s behind the decline in first-time 29.homebuyers? May 1, 2015 Bing Bai, Jun Zhu, Laurie Goodman

Home equity is outpacing mortgage debt, but 30.it’s not all good news April 21, 2015 Karan Kaul

Should policymakers address Fannie Mae and 31.Freddie Mac’s shrinking role in multifamily housing? April 16, 2015 Karan Kaul

Six things that might surprise you about 32.alternative credit scores April 13, 2015 Karan Kaul

Tight credit has hurt minority borrowers the 33.most April 8, 2015 Laurie Goodman, Jun Zhu, Taz George

Page 13 of 25

Four million mortgage loans missing from 2009 34.to 2013 due to tight credit standards April 2, 2015 Laurie Goodman, Jun Zhu, Taz George

To understand mortgage default rates, ask 35.these three questions March 30, 2015 Laurie Goodman, Ellen Seidman, Taz George, Jun Zhu

What’s behind the growing share of bank 36.portfolio lending? March 18, 2015 Karan Kaul

The mortgage market can tolerate twice as 37.much credit risk March 2, 2015 Wei Li, Laurie Goodman

Three charts that explain the renters next door 38.February 26, 2015 Taz George

New interactive tool shows impact of various 39.changes on FHA refinance volume February 25, 2015 Karan Kaul, Laurie Goodman, Jun Zhu

More than one in three FHA borrowers could 40.save money by refinancing today February 16, 2015 Karan Kaul, Laurie Goodman, Jun Zhu

The five major forces driving down mortgage 41.interest rates February 12, 2015 Ellen Seidman, Wei Li

Private mortgage insurance is better than 42.expected at protecting taxpayer from losses February 3, 2015 Laurie Goodman, Jun Zhu

Three predictions for mortgage affordability in 43.2015 February 2, 2015 Karan Kaul

What a new measure of mortgage denials 44.reveals about mortgage credit access January 30, 2015 Ellen Seidman, Wei Li

Is the homeownership safety net unraveling for 45.seniors? January 28, 2015 Taz George, Ellen Seidman

Four impacts of the Federal Housing 46.Administration’s premium cut January 21, 2015 Karan Kaul, Bing Bai

Obtaining a mortgage loan: How do we know if 47.it’s too hard, too easy, or just about right? January 12, 2015 Maia Woluchem, Taz George

FHA: Time to stop overcharging borrowers for 48.yesterday’s mistakes January 6, 2015 Laurie Goodman, Bing Bai, Jun Zhu

JULY–DECEMBER 2014

The 2015 slash to VA loan limits will have little 49.impact on veterans even in hardest-hit DC suburbs December 29, 2014 Laurie Goodman, Jun Zhu

Should you rent or buy? What to consider in 50.housing decisions December 19, 2014 Ellen Seidman

Page 14 of 25

New measure shows mortgage denial rate is 51.triple traditional estimates December 16, 2014 Wei Li, Laurie Goodman

The biggest obstacle to a mortgage market 52.recovery that nobody is talking about December 16, 2014 Laurie Goodman, Taz George

New credit availability measure shows product 53.risk, not borrower risk, fueled by the housing crisis December 9, 2014 Wei Li, Laurie Goodman

Risk sharing deals support reduction in Freddie 54.and Fannie guarantee fees December 3, 2014 Laurie Goodman

Three trends that signal hard times for renters 55.in 2015 November 18, 2014 Ellen Seidman

The 15-year mortgage is not a silver bullet for 56.low-income borrowers November 13, 2014 Ellen Seidman, Laurie Goodman, Jun Zhu

Uncertainty ahead for housing finance reform 57.with Republican surge November 5, 2014 Zach McDade, Sheryl Pardo

Why the government-sponsored enterprises’ 58.support of low–down payment loans again is no big deal November 4, 2014 Taz George, Laurie Goodman, Jun Zhu

Six reasons to celebrate the Housing Finance 59.Policy Center’s one-year anniversary October 24, 2014 Laurie Goodman

The six things we like most in the CFPB’s new 60.mortgage data proposal October 20, 2014 Ellen Seidman

Is there a ticking time bomb in the housing 61.market? October 16, 2014 Maia Woluchem

Incomplete OIG report overstates the risks of 62.FHFA sunset plan October 10, 2014 Laurie Goodman, Jun Zhu

Five cities with the most racially uneven 63.housing market recoveries October 6, 2014 Bing Bai, Taz George

Ten things I like about the $17 billion BOA 64.settlement September 30, 2014 Ellen Seidman

A surprising disparity in the newest mortgage 65.data September 25, 2014 Bing Bai, Taz George

The single-family rental securitization market 66.won’t exceed $20 billion September 24, 2014 Laurie Goodman

Interactive map shows 12 years and more than 67.100 million new mortgages in 24 seconds September 17, 2014 Bing Bai, Taz George

The $400 million case for a single GSE security 68.September 5, 2014 Laurie Goodman

Data show surprisingly little impact of new 69.mortgage rules August 21, 2014 Laurie Goodman, Ellen Seidman, Jim Parrott, Bing Bai

Page 15 of 25

Why it’s no easy task to determine what the 70.GSEs should charge for their guarantee August 14, 2014 Laurie Goodman, Ellen Seidman, Jim Parrott, Bing Bai

Toward a better Bank of America settlement 71.August 8, 2014 HFPC Staff

Specialty mortgage servicers: What’s the big 72.deal? August 7, 2014 Pamela Lee

Dodd-Frank: Can we really calculate the cost? 73.July 25, 2014 Ellen Seidman

Is student debt hindering homeownership? 74.July 17, 2014 Maia Woluchem, Taz George

Is residual income the key to the superior 75.performance of VA loans? July 16, 2014 Laurie Goodman, Ellen Seidman, Jun Zhu

Senate GSE reform: What we learned from 76.Johnson-Crapo July 15, 2014 Laurie Goodman, Jim Parrott, Ellen Seidman

Move over, Freddie Mac: Ginnie Mae will be 77.number 2 soon July 2, 2014 Laurie Goodman

JANUARY–JUNE 2014

Small investors spurred spike in cash sales. So 78.what happens next? June 30, 2014 Taz George, Maia Woluchem

Weaker credit or racial discrimination: The data 79.are unclear June 6, 2014 Wei Li

How well do the GSEs serve minority 80.borrowers? June 5, 2014 Wei Li

Why the GSEs need Congress to exit 81.conservatorship May 30, 2014 Jim Parrott

It’s time for administrative reform to end the 82.GSE conservatorships May 29, 2014 Jim Millstein (guest post)

Will modification resets cause massive re-83.defaults? May 16, 2014 Laurie Goodman, Jun Zhu

Risk sharing: High-LTV mortgages are the next 84.frontier May 15, 2014 Pamela Lee, Bing Bai

A strong pivot for the new director of FHFA 85.May 13, 2014 Jim Parrott

Is mortgage credit finally starting to loosen? 86.Afraid not. May 2, 2014 Jun Zhu, Laurie Goodman, Bing Bai

Suggestions for housing finance reform 87.April 21, 2014 Laurie Goodman, Ellen Seidman

The re-emerging dominance of private 88.mortgage insurers March 18, 2014 Bing Bai, Laurie Goodman

Page 16 of 25

Serious movement on housing finance reform 89.March 16, 2014 Ellen Seidman

The housing bust disproportionately hurt 90.minorities March 14, 2014 Laurie Goodman, Jun Zhu, Taz George

Strategic default: How big an issue? 91.March 12, 2014 Maia Woluchem

Where have all the mortgages gone? 92.March 6, 2014 Laurie Goodman, Jun Zhu, Taz George

Does the mortgage market really need private 93.capital? February 21, 2014 Maia Woluchem

Mortgage debt forgiveness act renewal could 94.benefit millions February 18, 2014 Laurie Goodman, Ellen Seidman

Fast pay-off, low–down payment loans perform 95.well January 30, 2014 Laurie Goodman, Ellen Seidman, Jun Zhu

Extending the HARP cutoff date is no silver 96.bullet January 28, 2014 Bing Bai, Taz George

GSE reform legislation? Yes, sir. 97.January 22, 2014 Ellen Seidman

Are new FHA loan limits a cause for concern? 98.January 17, 2014 Ellen Seidman

Are we in another housing bubble? 99.January 10, 2014 Taz George, Bing Bai

Senators and researchers agree: Now is the 100.time for housing finance reform January 9, 2014 Zach McDade

AUGUST–DECEMBER 2013

Diversification is critical to protecting the 101.government in housing finance reform December 13, 2013 Laurie Goodman, Ellen Seidman, Jun Zhu

President’s chief economic advisor calls for 102.comprehensive housing finance reform November 20, 2013 Zach McDade

Let’s rethink housing affordability 103.November 13, 2013 Taz George, Lan Shi

Ten reasons housing finance policy might keep 104.you up at night October 31, 2013 Lionel Foster

Seizing homes to save communities 105.October 30, 2013 Pamela Lee

QRM, alternative QRM: Loan default rates 106.October 7, 2013 Laurie Goodman, Ellen Seidman, Jun Zhu

QRM vs. alternative QRM: Quantifying the 107.comparison October 7, 2013 Laurie Goodman, Ellen Seidman, Jun Zhu

What HDMA data say about the state of the 108.mortgage market October 1, 2013 Ellen Seidman

Page 17 of 25

Fannie Mae reduces its max LTV to 95: Does 109.the data support the move? September 24, 2013 Laurie Goodman, Taz George

HARP has been a huge success; further action 110.on the refinancing front is unlikely August 12, 2013 Laurie Goodman

The president’s speech in Phoenix: What it 111.means and why it matters August 8, 2013 Jim Parrott

Blog Posts by Topic

CREDIT ACCESS

FHA’s new performance metric could open the 1.credit box September 14, 2015 Karan Kaul

A mortgage program to better serve the next 2.generation of borrowers September 11, 2015 Laurie Goodman, Eva Wingren

How will we know when the mortgage market 3.has fully recovered? August 10, 2015 Karan Kaul

It’s still too hard for most Americans to get a 4.mortgage July 30, 2015 Laurie Goodman, Wei Li, Bing Bai

Can the mortgage market handle the surge in 5.minority homeownership? July 1, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

The weak housing market recovery in 6.Baltimore has hurt African Americans the most May 21, 2015 Taz George, Bing Bai

What’s behind the decline in first-time 7.homebuyers? May 1, 2015 Bing Bai, Jun Zhu, Laurie Goodman

Six things that might surprise you about 8.alternative credit scores April 13, 2015 Karan Kaul

Tight credit has hurt minority borrowers the 9.most April 8, 2015 Laurie Goodman, Jun Zhu, Taz George

Four million mortgage loans missing from 2009 10.to 2013 due to tight credit standards April 2, 2015 Laurie Goodman, Jun Zhu, Taz George

The mortgage market can tolerate twice as 11.much credit risk March 2, 2015 Wei Li, Laurie Goodman

Three predictions for mortgage affordability in 12.2015 February 2, 2015 Karan Kaul

What a new measure of mortgage denials 13.reveals about mortgage credit access January 30, 2015 Ellen Seidman, Wei Li

Four impacts of the Federal Housing 14.Administration’s premium cut January 21, 2015 Karan Kaul, Bing Bai

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Obtaining a mortgage loan: How do we know if 15.it’s too hard, too easy, or just about right? January 12, 2015 Maia Woluchem, Taz George

New measure shows mortgage denial rate is 16.triple traditional estimates December 16, 2014 Wei Li, Laurie Goodman

New credit availability measure shows product 17.risk, not borrower risk, fueled the housing crisis December 9, 2014 Wei Li, Laurie Goodman

The 15-year mortgage is not a silver bullet for 18.low-income borrowers November 13, 2014 Ellen Seidman, Laurie Goodman, Jun Zhu

Five cities with the most racially uneven 19.housing market recoveries October 6, 2014 Bing Bai, Taz George

A surprising disparity in the newest mortgage 20.data September 25, 2014 Bing Bai, Taz George

Interactive map shows 12 years and more than 21.100 million new mortgages in 24 seconds September 17, 2014 Bing Bai, Taz George

Weaker credit or racial discrimination: The data 22.are unclear June 6, 2014 Wei Li

Is mortgage credit finally starting to loosen? 23.Afraid not. May 2, 2014 Jun Zhu, Laurie Goodman, Bing Bai

The housing bust disproportionately hurt 24.minorities March 14, 2014 Laurie Goodman, Jun Zhu, Taz George

Where have all the mortgages gone? 25.March 6, 2014 Laurie Goodman, Jun Zhu, Taz George

Fast pay-off, low–down payment loans perform 26.well January 30, 2014 Laurie Goodman, Ellen Seidman, Jun Zhu

Ten reasons housing finance policy might keep 27.you up at night October 31, 2013 Lionel Foster

What HDMA data say about the state of the 28.mortgage market October 1, 2013 Ellen Seidman

The president’s speech in Phoenix: What it 29.means and why it matters August 8, 2013 Jim Parrott

CRISIS RESOLUTION

Is principal reduction an effective way to 1.modify troubled mortgages? August 17, 2015 Yami Payano

How will we know when the mortgage market 2.has fully recovered? August 10, 2015 Karan Kaul

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The cheapest homes fared better in the housing 3.crisis, but only in certain regions May 4, 2015 Bing Bai, Jun Zhu

Ten things I like about the $17 billion BOA 4.settlement September 30, 2014 Ellen Seidman

Data show surprisingly little impact of new 5.mortgage rules August 21, 2014 Laurie Goodman, Ellen Seidman, Jim Parrott, Bing Bai

Toward a better Bank of America settlement 6.August 8, 2014 HFPC Staff

Dodd-Frank: Can we really calculate the cost? 7.July 25, 2014 Ellen Seidman

Will modification resets cause massive re-8.defaults? May 16, 2014 Laurie Goodman, Jun Zhu

Is mortgage credit finally starting to loosen? 9.Afraid not. May 2, 2014 Jun Zhu, Laurie Goodman, Bing Bai

The re-emerging dominance of private 10.mortgage insurers March 18, 2014 Bing Bai, Laurie Goodman

The housing bust disproportionately hurt 11.minorities March 14, 2014 Laurie Goodman, Jun Zhu, Taz George

Strategic default: How big an issue? 12.March 12, 2014 Maia Woluchem

Does the mortgage market really need private 13.capital? February 21, 2014 Maia Woluchem

Mortgage debt forgiveness act renewal could 14.benefit millions February 18, 2014 Laurie Goodman, Ellen Seidman

Extending the HARP cutoff date is no silver 15.bullet January 28, 2014 Bing Bai, Taz George

Seizing homes to save communities 16.October 30, 2013 Pamela Lee

QRM, alternative QRM: Loan default rates 17.October 7, 2013 Laurie Goodman, Ellen Seidman, Jun Zhu

QRM vs. alternative QRM: Quantifying the 18.comparison October 7, 2013 Laurie Goodman, Ellen Seidman, Jun Zhu

HARP has been a huge success; further action 19.on the refinancing front is unlikely August 12, 2013 Laurie Goodman

FHA/VA/GNMA

We’re not accurately assessing the Federal 1.Housing Administration’s solvency November 30, 2015 Laurie Goodman

How FHA’s new program could help keep rental 2.housing affordable October 23, 2015 Ellen Seidman

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FHA’s new performance metric could open the 3.credit box September 14, 2015 Karan Kaul

Five benefits of government mortgage 4.programs July 20, 2015 Sheryl Pardo, Karan Kaul

FHA premium cut pushes refinance activity to 5.highest level in 20 months May 29, 2015 Karan Kaul, Bing Bai

Ginnie Mae should correct the glitch in first-6.time homebuyer data May 14, 2015 Bing Bai, Jun Zhu

What’s behind the decline in first-time 7.homebuyers? May 1, 2015 Bing Bai, Jun Zhu, Laurie Goodman

New interactive tool shows impact of various 8.changes on FHA refinance volume February 25, 2015 Karan Kaul, Laurie Goodman, Jun Zhu

More than one in three FHA borrowers could 9.save money by refinancing today February 16, 2015 Karan Kaul, Laurie Goodman, Jun Zhu

Four impacts of the Federal Housing 10.Administration’s premium cut January 21, 2015 Karan Kaul, Bing Bai

Is residual income the key to the superior 11.performance of VA loans? July 16, 2014 Laurie Goodman, Ellen Seidman, Jun Zhu

Move over, Freddie Mac: Ginnie Mae will be 12.number 2 soon July 2, 2014 Laurie Goodman

Are new FHA loan limits a cause for concern? 13.January 17, 2014 Ellen Seidman

FUTURE TRENDS

Why the housing market can’t ignore US 1.demographic changes December 22, 2015 Sheryl Pardo

Heavy rent burdens + strong renter growth = 2.tough times ahead for US households September 29, 2015 Rolf Pendall, Laurie Goodman, Jun Zhu

Can the mortgage market handle the surge in 3.minority homeownership? July 1, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

We are not prepared for the growth in rental 4.demand June 24, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

Explosion in senior households by 2030 5.demands housing and community adaptations June 15, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

A lower homeownership rate is the new normal 6.June 9, 2015 Laurie Goodman, Rolf Pendall, Jun Zhu

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Three trends that signal hard times for renters 7.in 2015 November 18, 2014 Ellen Seidman

The 15-year mortgage is not a silver bullet for 8.low-income borrowers November 13, 2014 Ellen Seidman, Laurie Goodman, Jun Zhu

Uncertainty ahead for housing finance reform 9.with Republican surge November 5, 2014 Zach McDade, Sheryl Pardo

Is there a ticking time bomb in the housing 10.market? October 16, 2014 Maia Woluchem

The single-family rental securitization market 11.won’t exceed $20 billion September 24, 2014 Laurie Goodman

Risk sharing: High-LTV mortgages are the next 12.frontier May 15, 2014 Pamela Lee, Bing Bai

Does the mortgage market really need private 13.capital? February 21, 2014 Maia Woluchem

GSES

Making sure the FHFA’s duty to serve 1.regulations help underserved housing markets December 31, 2015 Ellen Seidman, Barry Zigas

A mortgage program to better serve the next 2.generation of borrowers September 11, 2015 Laurie Goodman, Eva Wingren

Three GSE risk-sharing innovations that could 3.change housing finance reform July 9, 2015 Laurie Goodman, Karan Kaul

Should policymakers address Fannie Mae and 4.Freddie Mac’s shrinking role in multifamily housing? April 16, 2015 Karan Kaul

What’s behind the growing share of bank 5.portfolio lending? March 18, 2015 Karan Kaul

Private mortgage insurance is better than 6.expected at protecting taxpayer from losses February 3, 2015 Laurie Goodman, Jun Zhu

Risk sharing deals support reduction in Freddie 7.and Fannie guarantee fees December 3, 2014 Laurie Goodman

Uncertainty ahead for housing finance reform 8.with Republican surge November 5, 2014 Zach McDade, Sheryl Pardo

Why the government sponsored enterprises’ 9.support of low–down payment loans again is no big deal November 4, 2014 Taz George, Laurie Goodman, Jun Zhu

Incomplete OIG report overstates the risks of 10.FHFA sunset plan October 10, 2014 Laurie Goodman, Jun Zhu

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The $400 million case for a single GSE security 11.September 5, 2014 Laurie Goodman

Data show surprisingly little impact of new 12.mortgage rules August 21, 2014 Laurie Goodman, Ellen Seidman, Jim Parrott, Bing Bai

Why it’s no easy task to determine what the 13.GSEs should charge for their guarantee August 14, 2014 Jun Zhu

Senate GSE reform: What we learned from 14.Johnson-Crapo July 15, 2014 Laurie Goodman, Jim Parrott, Ellen Seidman

Move over, Freddie Mac: Ginnie Mae will be 15.number 2 soon July 2, 2014 Laurie Goodman

How well do the GSEs serve minority 16.borrowers? June 5, 2014 Wei Li

Why the GSEs need Congress to exit 17.conservatorship May 30, 2014 Jim Parrott

It’s time for administrative reform to end the 18.GSE conservatorships May 29, 2014 Jim Millstein (guest post)

Risk sharing: High-LTV mortgages are the next 19.frontier May 15, 2014 Pamela Lee, Bing Bai

A strong pivot for the new director of FHFA 20.May 13, 2014 Jim Parrott

Suggestions for housing finance reform 21.April 21, 2014 Laurie Goodman, Ellen Seidman

Serious movement on housing finance reform 22.March 16, 2014 Ellen Seidman

GSE reform legislation? Yes, sir. 23.January 22, 2014 Ellen Seidman

Senators and researchers agree: Now is the 24.time for housing finance reform January 9, 2014 Zach McDade

Diversification is critical to protecting the 25.government in housing finance reform December 13, 2013 Laurie Goodman, Ellen Seidman Jun Zhu

President’s chief economic advisor calls for 26.comprehensive housing finance reform November 20, 2013 Zach McDade

Ten reasons housing finance policy might keep 27.you up at night October 31, 2013 Lionel Foster

Fannie Mae reduces its max LTV to 95: Does the 28.data support the move? September 24, 2013 Laurie Goodman, Taz George

HARP has been a huge success; further action 29.on the refinancing front is unlikely August 12, 2013 Laurie Goodman

The president’s speech in Phoenix: What it 30.means and why it matters August 8, 2013 Jim Parrott

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MULTIFAMILY

Single-family homes can help address the 1.affordable rental-housing crisis September 28, 2015 Dan Magder, Laurie Goodman

Should policymakers address Fannie Mae and 2.Freddie Mac’s shrinking role in multifamily housing? April 16, 2015 Karan Kaul

Three charts that explain the renters next door 3.February 26, 2015 Taz George

The single-family rental securitization market 4.won’t exceed $20 billion September 24, 2014 Laurie Goodman

Small investors spurred spike in cash sales. So 5.what happens next? June 30, 2014 Taz George, Maia Woluchem

Let’s rethink housing affordability 6.November 13, 2013 Taz George, Lan Shi

SERVICING

Why you should care that private investors 1.don’t want to buy your mortgage anymore October 9, 2015 Laurie Goodman

Broken mortgage servicing regulations limiting 2.access to credit May 12, 2015 Karan Kaul

The biggest obstacle to a mortgage market 3.recovery that nobody is talking about December 16, 2014 Laurie Goodman, Taz George

Specialty mortgage servicers: What’s the big 4.deal? August 7, 2014 Pamela Lee

OTHER

The link between land-use restriction and 1.growing inequality Leigh Franke November 23, 2015

Six new insights about Americans’ borrowing 2.habits October 16, 2015 Wei Li, Laurie Goodman

Despite progress, minority borrowers still lag 3.behind in the housing recovery October 15, 2015 Bing Bai, Sheryl Pardo, Karan Kaul

Is Detroit’s “Rehabbed and Ready” program the 4.answer to the city’s appraisal problem? October 5, 2015 Laurie Goodman, Karan Kaul

Give lenders more time to implement new 5.borrower disclosure rules May 15, 2015 Laurie Goodman

The cheapest homes fared better in the housing 6.crisis, but only in certain regions May 4, 2015 Bing Bai, Jun Zhu

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To understand mortgage default rates, ask 7.these three questions March 30, 2015 Laurie Goodman, Ellen Seidman, Taz George, Jun Zhu

Home equity is outpacing mortgage debt, but 8.it’s not all good news April 21, 2015 Karan Kaul

The five major forces driving down mortgage 9.interest rates February 12, 2015 Ellen Seidman, Wei Li

Three predictions for mortgage affordability in 10.2015 February 2, 2015 Karan Kaul

Is the homeownership safety net unraveling for 11.seniors? January 28, 2015 Taz George, Ellen Seidman

The 2015 slash to VA loan limits will have little 12.impact on veterans even in hardest-hit DC suburbs December 29, 2014 Laurie Goodman, Jun Zhu

Should you rent or buy? What to consider in 13.housing decisions December 19, 2014 Ellen Seidman

Six reasons to celebrate the Housing Finance 14.Policy Center’s one-year anniversary October 24, 2014 Laurie Goodman

The six things we like most in the CFPB’s new 15.mortgage data proposal October 20, 2014 Ellen Seidman

Is student debt hindering homeownership? 16.July 17, 2014 Maia Woluchem, Taz George

Are we in another housing bubble? 17.January 10, 2014 Taz George, Bing Bai

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