Estimates of home mortgage originations, repayments, and debt on one-to-four-family residences

Alan Greenspan and James E. Kennedy

No 2005-41, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Since 1997, when the Department of Housing and Urban Development discontinued its quarterly gross mortgage flow system, there has been no systematic attempt to disaggregate the net change in outstanding home mortgage debt into its constituent gross flows. Using a different approach, we have developed a system that reconciles the change in regular home mortgage debt with mortgage flows. The latter includes home purchase and refinance originations, and mortgage purchases, sales, and repayments for five types of mortgage originators and six categories of other mortgagees. In the process, we derive the sources of equity extraction from homes financed by mortgages.

Keywords: Mortgages; Home Mortgage Disclosure Act; Housing - Finance (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-bec and nep-ure
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Citations: View citations in EconPapers (45)

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