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Mortgage Finance Markets: Lessons from the Past and Keys to the Future


  • A. Pennington-Cross



This special section of the journal provides an empirical examination of the mortgage market to help identify key market participants, how incentives affected behavior, and how participation in the market changed over time. The findings will help to identify lessons that can be applied to the regulation and structure of the mortgage finance industry in the future. In particular the research examines loan product choice in the subprime market under different regulatory regimes, mortgage broker compensation market penetration, and the changing role of the Federal Housing Authority (FHA). Copyright International Atlantic Economic Society 2012

Suggested Citation

  • A. Pennington-Cross, 2012. "Mortgage Finance Markets: Lessons from the Past and Keys to the Future," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 40(3), pages 225-227, September.
  • Handle: RePEc:kap:atlecj:v:40:y:2012:i:3:p:225-227
    DOI: 10.1007/s11293-012-9324-4

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    References listed on IDEAS

    1. Fudenberg, Drew & Tirole, Jean, 1991. "Perfect Bayesian equilibrium and sequential equilibrium," Journal of Economic Theory, Elsevier, vol. 53(2), pages 236-260, April.
    2. Joseph Farrell & Suzanne Scotchmer, 1988. "Partnerships," The Quarterly Journal of Economics, Oxford University Press, vol. 103(2), pages 279-297.
    3. Bengt Holmstrom, 1982. "Moral Hazard in Teams," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 324-340, Autumn.
    4. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
    5. Jeon, Seonghoon, 1996. "Moral hazard and reputational concerns in teams: Implications for organizational choice," International Journal of Industrial Organization, Elsevier, vol. 14(3), pages 297-315, May.
    6. Michael Spence, 1973. "Job Market Signaling," The Quarterly Journal of Economics, Oxford University Press, vol. 87(3), pages 355-374.
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