Reinventing Homeownership: A Compendium of Concepts to Consider

51 Pages Posted: 29 Jun 2012

See all articles by Denise Gabel

Denise Gabel

Filene Research Institute

David J. Reiss

Brooklyn Law School

Date Written: June 2012


This policy brief presents a compendium of innovative mortgage products that challenge the dominant mortgage product of the 20th Century, the high down payment, thirty year amortization, fixed interest rate mortgage. These innovative products do not, however, go to the other extreme like the subprime and Alt-A mortgages of the early 21st Century with attributes such as low down payments, balloon payments and quick to adjust interest rates. Rather, they take into account demographic trends, changes in the workplace and existing barriers to homeownership to structure new products for contemporary households. These innovative products take on the big questions in residential mortgage finance. What is the future of the FRM? What is the fate of the low-down-payment mortgage? And what does homeownership mean today?

Keywords: credit unions, lock-in, 30 year, homeownership, ARMs, adjustable rate mortgage, fixed rate mortgage, low down payment

Suggested Citation

Gabel, Denise and Reiss, David J., Reinventing Homeownership: A Compendium of Concepts to Consider (June 2012). Brooklyn Law School, Legal Studies Paper No. 285. Available at SSRN: or

Denise Gabel (Contact Author)

Filene Research Institute ( email )

612 Main Street
suite 105
Madison, WI
United States

David J. Reiss

Brooklyn Law School ( email )

250 Joralemon Street
Brooklyn, NY 11201
United States

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