TY - JOUR
T1 - The downs and ups of FHA lending
T2 - The government mortgage roller coaster ride
AU - Courchane, Marsha J.
AU - Darolia, Rajeev
AU - Zorn, Peter M.
PY - 2014/6
Y1 - 2014/6
N2 - Throughout the last decade, mortgage markets experienced both a considerable decline and a considerable increase in the share served by the FHA. Concerns have grown about the solvency of the program and about the access to credit of the borrowers served by the FHA market. These concerns are due, at least in part, to the evolving distribution of loans in the FHA portfolio and uncertainty about future patterns of lending. This paper attempts to explain FHA lending patterns over the past decade, particularly the dramatic downs and ups of FHA lending. We pay particular attention to the drivers of these changes, and the implications of these changes for FHA lending, mortgage markets, and associated public policy initiatives.
AB - Throughout the last decade, mortgage markets experienced both a considerable decline and a considerable increase in the share served by the FHA. Concerns have grown about the solvency of the program and about the access to credit of the borrowers served by the FHA market. These concerns are due, at least in part, to the evolving distribution of loans in the FHA portfolio and uncertainty about future patterns of lending. This paper attempts to explain FHA lending patterns over the past decade, particularly the dramatic downs and ups of FHA lending. We pay particular attention to the drivers of these changes, and the implications of these changes for FHA lending, mortgage markets, and associated public policy initiatives.
KW - FHA lending
KW - Mortgage markets
UR - http://www.scopus.com/inward/record.url?scp=84901627743&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84901627743&partnerID=8YFLogxK
U2 - 10.1016/j.jhe.2014.01.002
DO - 10.1016/j.jhe.2014.01.002
M3 - Article
AN - SCOPUS:84901627743
SN - 1051-1377
VL - 24
SP - 39
EP - 56
JO - Journal of Housing Economics
JF - Journal of Housing Economics
ER -