The Role of SCH in the Mortgage Market in Spain, 1981-76

1999 ◽  
Keyword(s):  
Mortgage Market

scholarly journals Refinancing, Monetary Policy, and the Credit Cycle

2020 ◽  
Vol 12 (1) ◽  
pp. 67-93 ◽  
Author(s):  
Gene Amromin ◽  
Neil Bhutta ◽  
Benjamin J. Keys
Keyword(s):  
Monetary Policy ◽  
Policy Implementation ◽  
Lessons Learned ◽  
Mortgage Market ◽  
Transmission Mechanism ◽  
Mortgage Markets ◽  
Policy Transmission ◽  
The Usa ◽  
Credit Cycle

We assess the complicated reality of monetary policy transmission through mortgage markets by synthesizing the existing literature on the role of refinancing in policy implementation. After briefly reviewing mortgage market institutions in the USA and documenting refinance activity over time, we summarize the links between refinancing and consumption and describe the frictions impeding the refinancing channel. The review draws heavily on research emerging from the experience of the financial crisis of 2008–2009, as it highlights a combination of market, institutional, and policy-making factors that dulled the transmission mechanism. We conclude with a discussion of potential mortgage market innovations and the applicability of lessons learned to the ongoing stresses induced by the COVID-19 pandemic.

ACCOUNTING FOR LIFE-CYCLE WEALTH ACCUMULATION: THE ROLE OF HOUSING INSTITUTION

2011 ◽  
Vol 16 (4) ◽  
pp. 493-517 ◽  
Author(s):  
Sang-Wook (Stanley) Cho
Keyword(s):  
Life Cycle ◽  
The United States ◽  
Mortgage Market ◽  
Wealth Accumulation ◽  
Labor Income ◽  
Life Cycle Model ◽  
Cycle Model ◽  
Policy Experiments ◽  
Cross Country

This paper constructs a quantitative general equilibrium life-cycle model with uninsurable labor income to account for the differences in wealth accumulation and homeownership between Korea and the United States. The model incorporates different structures in the housing market in the two countries, namely, the mortgage market and the rental arrangements. The results from the calibrated model quantitatively explain some empirical findings in the aggregate and life-cycle profiles of wealth and homeownership. Quantitative policy experiments show that the mortgage market alone can account for more than 40% of the differences in the aggregate homeownership ratios. When coupled with the rental arrangements, both institutions can account for approximately 52% of the differences in the cross-country homeownership ratios.

scholarly journals Banki spółdzielcze na rynku kredytu na nieruchomości w Polsce

2015 ◽  
Vol 2 (3) ◽  
pp. 163-176
Author(s):  
Renata Papież
Keyword(s):  
Commercial Banks ◽  
Banking Sector ◽  
Mortgage Market ◽  
Know How

The main aim of the article is defining the role of co-operative banks – bothin quantitative and qualitative aspects – on the mortgage market in Poland.Residential and commercial mortgage financing in the Polish banking sector isdominated by a big commercial banks. Both the co-operative banks and specializedmortgage banks have a marginal importance in this market. However, cooperativebanks using their attributes, i.e. better knowledge of the local marketand gradually accumulated know how and experience, increase very slowly theirmarket share.

scholarly journals Requirements for Intermediaries and Advisors in the Area of Mortgages Resulting from Mortgage Credit Directive– Implications for Poland

e-Finanse ◽  
2015 ◽  
Vol 11 (2) ◽  
pp. 18-31
Author(s):  
Krzysztof Waliszewski
Keyword(s):  
Consumer Credit ◽  
Credit Market ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Legislative Process ◽  
Mortgage Credit ◽  
Current Financial Crisis ◽  
Polish Law ◽  
Mortgage Credit Directive

Abstract The dynamic development of the mortgage market, especially in the period before the current financial crisis, revealed that within the EU there are local mortgage credit markets and that it is necessary to harmonize the rules of the system and consumer protection within the Community. The intention of the creators of the Mortgage Credit Directive was to organize the mortgage lending market for residential purposes and make it transparent, as well as increase the safety of the consumer credit market, along the lines of what took place earlier in the consumer credit market regulations (The Consumer Credit Directives no. 2008/48/EC and earlier no. 87/102/EEC). The Mortgage Credit Directive implies for lenders - credit institutions to act at every stage of the lending process with respect to the consumer’s interest and to provide them with adequate services for their needs. Due to the large role of indirect distribution channels of mortgages by banks there are certain requirements for intermediaries, brokers and credit advisors. The implementation term of the Directive, appointed for March 2016, implies action to be taken in order to implement the provisions of this Directive into Polish law. The legislative process is being conducted by the Ministry of Finance and supported by the Group on implementation of the Mortgage Credit Directive operating with the Council of Financial Market Development.

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