Evaluating the Benefits of a Streamlined Refinance Program

Kristopher Gerardi, Lara Loewenstein and Paul Willen

Current Policy Perspectives from Federal Reserve Bank of Boston

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 housing equity that many have accumulated in recent years.

Keywords: refinancing; mortgage markets; GSEs (search for similar items in EconPapers)
Pages: 24
Date: 2020-12-28
New Economics Papers: this item is included in nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.bostonfed.org/publications/current-pol ... finance-program.aspx Summary (text/html)
https://www.bostonfed.org/-/media/Documents/Workin ... 2020/cpp20201228.pdf Full text (application/pdf)

Related works:
Journal Article: Evaluating the Benefits of a Streamlined Refinance Program (2021)
Journal Article: Evaluating the Benefits of a Streamlined Refinance Program (2020)
Working Paper: Evaluating the Benefits of a Streamlined Refinance Program (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedbcq:89267

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Current Policy Perspectives from Federal Reserve Bank of Boston Contact information at EDIRC.
Bibliographic data for series maintained by Catherine Spozio ().