Details about Wayne Passmore
Access statistics for papers by Wayne Passmore.
Last updated 2023-02-24. Update your information in the RePEc Author Service.
Short-id: ppa1157
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Working Papers
2024
- Government-Sponsored Mortgage Securitization and Financial Crises
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
- Mitigating Too Big to Fail
FEDS Notes, Board of Governors of the Federal Reserve System (U.S.)
2020
- Investor Demands for Safety, Bank Capital, and Liquidity Measurement
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
- The Stability of Safe Asset Production
FEDS Notes, Board of Governors of the Federal Reserve System (U.S.)
2019
- The Community Reinvestment Act and the Profitability of Mortgage-Oriented Banks
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1997) View citations (8)
- The Subsidy Provided by the Federal Safety Net: Theory, Measurement, and Containment
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
Also in Proceedings, Federal Reserve Bank of Chicago (1998) View citations (8)
2018
- Financing Affordable and Sustainable Homeownership with Fixed-COFI Mortgages
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (3)
2017
- Are Basel's Capital Surcharges for Global Systemically Important Banks Too Small?
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
Also in FEDS Notes, Board of Governors of the Federal Reserve System (U.S.) (2017) View citations (1)
- Improving the 30-Year Fixed-Rate Mortgage
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
2016
- FHA, Fannie Mae, Freddie Mac, and the Great Recession
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
- Government-Backed Mortgage Insurance Promoted a Speedier Recovery from the Great Recession
FEDS Notes, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
2014
- How the Federal Reserve's Large-Scale Asset Purchases (LSAPs) Influence Mortgage-Backed Securities (MBS) Yields and U.S. Mortgage Rates
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
2012
- The Federal Reserve's portfolio and its effects on mortgage markets
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
2011
- Did the Federal Reserve's MBS purchase program lower mortgage rates?
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (123)
See also Journal Article Did the Federal Reserve's MBS purchase program lower mortgage rates?, Journal of Monetary Economics, Elsevier (2011) View citations (164) (2011)
2010
- A framework that incorporation contingent capital into the capital structure of systemically-important firms
Proceedings, Federal Reserve Bank of Chicago
- A proposal for \"financial institutions' secured asset-backed insurance fund\" or FINSAIF
Proceedings, Federal Reserve Bank of Chicago
- An analysis of government guarantees and the functioning of asset-backed securities markets
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (11)
- The bank lending channel of monetary policy and its effect on mortgage lending
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (4)
2007
- A summary of \"Federal Home Loan Bank advances and commercial bank portfolio composition\"
Proceedings, Federal Reserve Bank of Chicago View citations (4)
- Bank core deposits and the mitigation of monetary policy
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (16)
- Federal Home Loan Bank advances and commercial bank portfolio composition
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2007) View citations (4)
See also Journal Article Federal Home Loan Bank Advances and Commercial Bank Portfolio Composition, Journal of Money, Credit and Banking, Blackwell Publishing (2012) View citations (11) (2012)
2006
- Federal Reserve research on government-sponsored enterprises
Proceedings, Federal Reserve Bank of Chicago
- GSEs, mortgage rates, and secondary market activities
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2005) View citations (17)
See also Journal Article GSEs, Mortgage Rates, and Secondary Market Activities, The Journal of Real Estate Finance and Economics, Springer (2008) View citations (19) (2008)
- The competitive effects of risk-based bank capital regulation: an example from U.S. mortgage markets
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (4)
2005
- An analysis of the potential competitive impacts of Basel II capital standards on U.S. mortgage rates and mortgage securitization
Basel II White Paper, Board of Governors of the Federal Reserve System (U.S.) View citations (10)
- Basel II competitive implications
Proceedings, Federal Reserve Bank of Chicago View citations (1)
- The GSE implicit subsidy and the value of government ambiguity
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (41)
Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2003) View citations (13)
- The effect of housing government-sponsored enterprises on mortgage rates
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (43)
2004
- An update to the GSE implicit subsidy and the value of government ambiguity
Proceedings, Federal Reserve Bank of Chicago
2002
- Does the Community Reinvestment Act (CRA) cause banks to provide a subsidy to some mortgage borrowers?
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (7)
- Measuring the CRA subsidy in mortgage markets
Proceedings, Federal Reserve Bank of Chicago
2001
- GSEs, mortgage rates, and the long-run effects of mortgage securitization
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
See also Journal Article GSEs, Mortgage Rates, and the Long-Run Effects of Mortgage Securitization, The Journal of Real Estate Finance and Economics, Springer (2002) View citations (31) (2002)
- The simple microeconomics of government-sponsored enterprises
Proceedings, Federal Reserve Bank of Chicago
2000
- Credit scoring and mortgage securitization: do they lower mortgage rates?
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (3)
1999
- Pricing systemic crises: monetary and fiscal policy when savers are uncertain
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (3)
- The banking industry and the safety net subsidy
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
1998
- Is mortgage lending by savings associations special?
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
See also Journal Article Is mortgage lending by savings associations special?, Economic Review, Federal Reserve Bank of San Francisco (1998) (1998)
1997
- The effect of automated underwriting on adverse selection and on the profitability of mortgage securitization
Proceedings, Federal Reserve Bank of Chicago
- The effect of automated underwriting on the profitability of mortgage securitization
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
1996
- The relative profitability of commercial banks active in lending in lower-income borrowers
Proceedings, Federal Reserve Bank of Chicago View citations (3)
1995
- Implementing CRA: what is the target?
Proceedings, Federal Reserve Bank of Chicago View citations (1)
- Putting the squeeze on a market for lemons: government-sponsored mortgage securitization
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
See also Journal Article Putting the Squeeze on a Market for Lemons: Government-Sponsored Mortgage Securitization, The Journal of Real Estate Finance and Economics, Springer (1996) View citations (8) (1996)
1994
- Optimal bank portfolios and the credit crunch
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (11)
1993
- An efficiency model of deposit pricing and rate rigidity
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
1992
- Market power and the pricing of mortgage securitization
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (10)
- The influence of risk-adjusted capital regulations on asset allocation by savings and loans
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (3)
1991
- Can banks profitably fund mortgages?
Proceedings, Federal Reserve Bank of Chicago
- Can retail depositories fund mortgages profitably?
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (7)
1988
- Loan loss reserves and stock market valuations of financial institutions
Proceedings, Federal Reserve Bank of Chicago
1986
- Strategic niche and the profitability of banking
Proceedings, Federal Reserve Bank of Chicago View citations (4)
Journal Articles
2018
- GSE guarantees, financial stability, and home equity accumulation
Economic Policy Review, 2018, (24-3), 11-27 View citations (1)
- The FHA and the GSEs as countercyclical tools in the mortgage markets
Economic Policy Review, 2018, (24-3), 28-40
2016
- Cost of funds indexed mortgage contracts with government-backed catastrophic insurance (COFI-Cats): A realistic alternative to the 30-year fixed-rate mortgage?
Journal of Economics and Business, 2016, 84, (C), 109-130 View citations (2)
2015
- How Does the Federal Reserve's Large-Scale Asset Purchases (LSAPs) Influence Mortgage-Backed Securities (MBS) Yields and U.S. Mortgage Rates?
Real Estate Economics, 2015, 43, (4), 855-890 View citations (22)
2012
- Federal Home Loan Bank Advances and Commercial Bank Portfolio Composition
Journal of Money, Credit and Banking, 2012, 44, (4), 661-684 View citations (11)
See also Working Paper Federal Home Loan Bank advances and commercial bank portfolio composition, Finance and Economics Discussion Series (2007) View citations (1) (2007)
2011
- Did the Federal Reserve's MBS purchase program lower mortgage rates?
Journal of Monetary Economics, 2011, 58, (5), 498-514 View citations (164)
See also Working Paper Did the Federal Reserve's MBS purchase program lower mortgage rates?, Finance and Economics Discussion Series (2011) View citations (123) (2011)
2009
- Strategic Trading in Multiple Assets and the Effects on Market Volatiliy
International Journal of Central Banking, 2009, 5, (4), 143-172 View citations (10)
- Three Initiatives Enhancing the Mortgage Market and Promoting Financial Stability
The B.E. Journal of Economic Analysis & Policy, 2009, 9, (3), 25 View citations (5)
2008
- GSEs, Mortgage Rates, and Secondary Market Activities
The Journal of Real Estate Finance and Economics, 2008, 36, (3), 343-363 View citations (19)
See also Working Paper GSEs, mortgage rates, and secondary market activities, Finance and Economics Discussion Series (2006) (2006)
2006
- Comment on: "An options-based approach to evaluating the risk of Fannie Mae and Freddie Mac"
Journal of Monetary Economics, 2006, 53, (1), 177-182 View citations (4)
2002
- GSEs, Mortgage Rates, and the Long-Run Effects of Mortgage Securitization
The Journal of Real Estate Finance and Economics, 2002, 25, (2-3), 215-42 View citations (31)
See also Working Paper GSEs, mortgage rates, and the long-run effects of mortgage securitization, Finance and Economics Discussion Series (2001) View citations (1) (2001)
- Mortgage refinancing in 2001 and early 2002
Federal Reserve Bulletin, 2002, 88, (Dec), 469-481 View citations (59)
2001
- Credit Scoring and Mortgage Securitization: Implications for Mortgage Rates and Credit Availability
The Journal of Real Estate Finance and Economics, 2001, 23, (3), 337-63 View citations (36)
2000
- Do Savings Associations Have a Special Commitment to Housing?
Journal of Financial Services Research, 2000, 17, (1), 41-68 View citations (2)
1999
- The role of specialized lenders in extending mortgages to lower-income and minority homebuyers
Federal Reserve Bulletin, 1999, 85, (Nov), 709-726 View citations (11)
1998
- Is mortgage lending by savings associations special?
Economic Review, 1998, 30-46
See also Working Paper Is mortgage lending by savings associations special?, Finance and Economics Discussion Series (1998) View citations (1) (1998)
- The subsidy provided by the federal safety net: theory and measurement
Proceedings, 1998, (Sep) View citations (4)
1996
- Distribution of Credit Risk Among Providers of Mortgages to Lower-Income and Minority Homebuyers
Federal Reserve Bulletin, 1996, 82, (12), pp. 1077-1102 View citations (7)
Also in Federal Reserve Bulletin, 1996, (Dec), 1077-1102 (1996) View citations (11)
- Putting the Squeeze on a Market for Lemons: Government-Sponsored Mortgage Securitization
The Journal of Real Estate Finance and Economics, 1996, 13, (1), 27-43 View citations (8)
See also Working Paper Putting the squeeze on a market for lemons: government-sponsored mortgage securitization, Finance and Economics Discussion Series (1995) View citations (1) (1995)
1995
- Credit risk and the provision of mortgages to lower-income and minority homebuyers
Federal Reserve Bulletin, 1995, (Nov), 989-1016 View citations (4)
- Home purchase lending in low-income neighborhoods and to low-income borrowers
Federal Reserve Bulletin, 1995, (Feb), 71-103 View citations (9)
1994
- Correction of a table appearing in the February 1994 issue in " Residential lending to low-income and minority families: evidence from the 1992 HMDA data."
Federal Reserve Bulletin, 1994, (Mar), 239
- Private mortgage insurance
Federal Reserve Bulletin, 1994, (Oct), 883-899 View citations (8)
- Residential lending to low-income and minority families: evidence from the 1992 HMDA data
Federal Reserve Bulletin, 1994, (Feb), 79-108 View citations (12)
1993
- Econometric Models of the Eleventh District Cost of Funds Index
The Journal of Real Estate Finance and Economics, 1993, 6, (2), 175-88 View citations (6)
Chapters
2001
- Pragmatic monitoring of financial stability
A chapter in Marrying the macro- and micro-prudential dimensions of financial stability, 2001, vol. 01, pp 367-384
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