Estimates of Home Mortgage Originations, Repayments, and Debt on One-to-Four-Family Residences
84 Pages Posted: 11 Jan 2006
Date Written: September 2005
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: Mortgage originations, mortgage repayments, refinance originations, home equity extraction
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