Second Chances: Subprime Mortgage Modification and Re-Default

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Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program (2016, background): “As we will show, this makes the treatment and control groups formed based on owneroccupancy status very comparable in our data (see Haughwout et al. (2011) who show differences between owneroccupied and investor loans when they investigate the sample of largely non-agency securitized mortgages).”
Mortgage Rates, Household Balance Sheets, and the Real Economy (2014, unknown): “Haughwout et al. (2010), Agarwal et al. (2011, 2012), and Zhu (2012) explore the reduction in foreclosure rates due to modifications made by private lenders and through government modification and refinancing programs.”
Solving the present crisis and managing the leverage cycle (2010, background): “15 See Ferreira et al. (forthcoming). λ 108 Solving the Present Crisis and Managing the Leverage Cycle Chart 1 Housing Leverage Cycle Margins Offered (Down Payments Required) and Home Prices Sources: First American CoreLogic LoanPerformance Data Base; Ellington Capital Management.”
Mortgage Market Design (2012, background): “Das (2011) argues that principal reduction is most e¤ective in this regard, and Doviak and MacDonald (2011) and Haughwout et al. (2010) provide supporting empirical evidence for this claim.12 There is also room for policy to reduce the externalities created by those foreclosures that do occur.”