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Category Archives: Housing

Federal Reserve issues FOMC statement April 27 2016

“Information received since the Federal Open Market Committee met in March indicates that labor market conditions have improved further even as growth in economic activity appears to have slowed. Growth in household spending has moderated, although households’ real income has risen at a solid rate and consumer sentiment remains high. Since the beginning of theContinue Reading

Atlantic article calls out the financial fragility of America’s majority

The Secret Shame of Middle-Class Americans, Neal Gabler: “Since 2013, the Federal Reserve Board has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their currentContinue Reading

Six of the Government’s Best Mobile Apps

“There’s an app for everything in this digital age, including hundreds developed by the federal government. Here are six apps that we found especially useful. Smart Traveler – Planning a trip out of the country this year? Smart Traveler by the State Department is great for all your trips abroad. Get the latest travel alertsContinue Reading

Goldman Sachs Agrees to Pay More than $5B in Connection with Sale of Residential Mortgage Backed Securities

DOJ news release, April 11, 2016: “The Justice Department, along with federal and state partners, announced today a $5.06 billion settlement with Goldman Sachs related to Goldman’s conduct in the packaging, securitization, marketing, sale and issuance of residential mortgage-backed securities (RMBS) between 2005 and 2007.  The resolution announced today requires Goldman to pay $2.385 billionContinue Reading

GAO Reports – FEMA, Federal Real Property, IRS InfoSec and ID Theft, Resolution Plans, Presidential Drawdowns, Terrorism Risk Insurance

Federal Emergency Management Agency: Progress and Continuing Challenges in National Preparedness Efforts, GAO-16-560T: Published: Apr 12, 2016. Publicly Released: Apr 12, 2016. Federal Real Property: Improving Data Transparency and Expanding the National Strategy Could Help Address Long-standing Challenges, GAO-16-275: Published: Mar 31, 2015. Publicly Released: Apr 12, 2016. Information Security: IRS Needs to Further ImproveContinue Reading

Searching for Fair Housing

Fennell, Lee Anne, Searching for Fair Housing (April 10, 2016). Boston University Law Review, Forthcoming. Available for download at SSRN: http://ssrn.com/abstract=2762026 “There is a blind spot in the scholarly and legal treatment of housing discrimination: the racial biases of home seekers. Search strategies routinely incorporate information about neighborhood racial composition, either as a proxy orContinue Reading

GAO Report – Nonbank Mortgage Servicers

Nonbank Mortgage Servicers: Existing Regulatory Oversight Could Be Strengthened, GAO-16-278: Published: Mar 10, 2016. Publicly Released: Apr 11, 2016: “The share of home mortgages serviced by nonbanks increased from approximately 6.8 percent in 2012 to approximately 24.2 percent in 2015 (as measured by unpaid principal balance). However, banks continued to service the remainder (about 75.8Continue Reading

Survey of Market Absorption 2015 Annual Report

“The 2015 Survey of Market Absorption of New Multifamily Units annual report provides absorption details for units constructed in 2014. The Survey of Market Absorption of New Multifamily Units is conducted by the U.S. Census Bureau on behalf of the Department of Housing and Urban Development. This survey measures how soon privately financed, nonsubsidized, unfurnishedContinue Reading

The causal effect of house prices on mortgage demand and mortgage supply: evidence from Switzerland

The causal effect of house prices on mortgage demand and mortgage supply: evidence from Switzerland by Christoph Basten and Catherine Koch. Working Papers No 555, March 2016. “We identify the causal effect of house prices on mortgage demand and supply in Switzerland by exploiting exogenous shocks to immigration and thereby to house prices. Detailed microContinue Reading

Changes in Neighborhood Inequality, 2000-2010

Weinberg, Daniel H., Changes in Neighborhood Inequality, 2000-2010 (March 1, 2016). US Census Bureau Center for Economic Studies Paper No. CES-WP- 16-18. Available for download at SSRN: http://ssrn.com/abstract=2754332 “Recent work has suggested that higher income inequality may be a desirable attribute of a neighborhood in that it represents diversity, even though high (and rising) inequalityContinue Reading

Comparing Credit Profiles of American Renters and Owners

Urban Institute’s Housing Finance Policy Center Research Report – March 2016 – Comparing Credit Profiles of American Renters and Owners: “This research report, the second in a series, reviews 2015 consumer credit data from a major credit bureau and 2015 public property record data, supplemented with 2014 American Community Survey’s (ACS) Public Use Microdata SampleContinue Reading

Housing, Housing Policy, and Housing Finance: Time for a Re-Assessment

White, Lawrence J., Housing, Housing Policy, and Housing Finance: Time for a Re-Assessment (March 24, 2016). Available for download at SSRN: http://ssrn.com/abstract=2754311 “The shapers of the American mortgage finance system hoped to achieve the security of government ownership, the integrity of local banking and the ingenuity of Wall Street. Instead they got the ingenuity ofContinue Reading