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Estimates of Home Mortgage Originations, Repayments, and Debt on One-to-Four-Family Residences

84 Pages Posted: 11 Jan 2006  

Alan Greenspan

Federal Reserve Board - Division of Research and Statistics

James E. Kennedy

Federal Reserve Board - Macroeconomic Analysis Section

Date Written: September 2005

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: Mortgage originations, mortgage repayments, refinance originations, home equity extraction

Suggested Citation

Greenspan, Alan and Kennedy, James E., Estimates of Home Mortgage Originations, Repayments, and Debt on One-to-Four-Family Residences (September 2005). FEDS Paper No. 2005-41. Available at SSRN: https://ssrn.com/abstract=874821 or http://dx.doi.org/10.2139/ssrn.874821

Alan Greenspan

Federal Reserve Board - Division of Research and Statistics

20th and C Streets, NW
Washington, DC 20551
United States

James Kennedy (Contact Author)

Federal Reserve Board - Macroeconomic Analysis Section ( email )

20th & C. St., N.W.
Mailstop 80
Washington, DC 20551
United States
202-452-2449 (Phone)
202-452-5296 (Fax)

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