Evaluating the Benefits of a Streamlined Refinance Program

Kristopher Gerardi, Lara Loewenstein and Paul Willen

Policy Hub, 2020, vol. 2020, issue 8, 22

Abstract: Mortgage borrowers who have experienced employment disruptions as a result of the COVID-19 pandemic are unable to refinance their loans to take advantage of historically low market rates. In this article, we analyze the effects of a streamlined refinance ("refi") program for government-insured loans that would allow borrowers to refinance without needing to document employment or income. In addition, we consider a cash-out component that would allow borrowers to extract some of the substantial amount of housing equity that many have accumulated in recent years.

Keywords: mortgage; refinance; cash-out; COVID-19 (search for similar items in EconPapers)
JEL-codes: G28 G51 R38 (search for similar items in EconPapers)
Date: 2020
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Related works:
Journal Article: Evaluating the Benefits of a Streamlined Refinance Program (2021)
Working Paper: Evaluating the Benefits of a Streamlined Refinance Program (2020)
Working Paper: Evaluating the Benefits of a Streamlined Refinance Program (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:a00068:99140

DOI: 10.29338/ph2020-08

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