The value of federal sponsorship: The case of Freddie Mac

Real Estate Economics

Volumn 25, Issue 3, 1997, Pages 453-485

  Gatti, James F ^a   Spahr, Ronald W ^b  

^a UNIVERSITY OF VERMONT   (United States)

^b UNIVERSITY OF WYOMING   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0031286982     PISSN: 10808620     EISSN: None     Source Type: Journal    
DOI: 10.1111/1540-6229.00723     Document Type: Article

References (29)

1. Ambrose, B.W., R.J. Buttimer, Jr. and C.A. Capone. 1995. The Impact of the Delay Between Default and Foreclosure on the Value of Mortgage Default. Working paper presented at the American Real Estate Society Conference: Hilton Head, SC.
2. Caso, E.S. Jr. 1990. Fannie Mae Freddie Mac. Goldman Sachs: New York, NY.
3. Cook, D.O. and L.J. Spellman. 1992. Taxpayer Resistance, Guarantee Uncertainty, and Housing Finance Subsidies. Journal of Real Estate Finance and Economics 5(2): 181-195.
4. Crawford, G.W. and E. Rosenblatt. 1995. Efficient Mortgage Default Option Exercise: Evidence from Loan Loss Severity. Working paper presented at the American Real Estate Society Conference: Hilton Head, SC.
5. Financial Institutions Reform Recovery and Enforcement Act, 1989, Public Law 101-101-73: 431.
6. Foster, C.C. and R. Van Order. 1984. An Options-Based Model of Mortgage Default. Housing Finance Review 4(4): 351-372.
7. Gatti, J.F. and R.W. Spahr. 1992. The Burden of Government Sponsored Enterprises: The Case of Freddie Mac. Cato Public Policy Studies. Cato Institute: Washington, DC.
8. Goodman, L. 1960. On the Exact Variance of Products. Journal of the American Statistical Association 55(4): 708-713.
9. Hemel, E. 1990. Fannie Mae and Freddie Mac: How Large are the Risks of Higher Capital Requirements? First Boston Equity Research: Boston, MA.
10. Hendershott, P.H. and R. Van Order. 1987. Pricing Mortgages: An Interpretation of the Model and Results. Journal of Financial Services Research 1(1): 77-111.
11. Housing and Community Development Act of 1992, Public Law102-550. Title XIII, Government Sponsored Enterprises.
12. HUD. 1992. Report to Congress on the Federal Home Loan Mortgage Corporation. Information Statement. Federal Home Loan Mortgage Corporation. March 30, 1990: 3, 5 and 30.
13. _. April 9, 1993.
14. Kau, J.B. and D.C. Keenan. 1994. An Overview of the Option-Theoretic Pricing of Mortgages. Journal of Housing Research 6(2): 217-244.
15. Marcus, A.J. and I. Snaked. 1984. The Valuation of FDIC Insurance Using Option-Pricing Estimates. Journal of Money Credit and Banking 16(4): 446-460.
16. Merton, R.C. 1987. An Analytical Derivation of the Cost of Deposit Insurance and Loan Guarantees. Journal of Banking and Finance 1: 3-11.
17. Omnibus Budget Reconciliation Act of 1990, Public Law 101-508. November 5, 1990.
18. Quigley, J.M. and R. Van Order. 1991. Defaults on Mortgage Obligations and Capital Requirements for U.S. Savings Institutions. Journal of Public Economics 44(3): 353-369.
19. Ronn, E.I. and A.K. Verma. 1986. Pricing Risk-Adjusted Deposit Insurance: An Option-Based Model. Journal of Finance 41(4): 871-895.
20. Shilling, J.D. Rates of Return on Mortgage-Backed Securities and Option-Theoretic Models of Mortgage Pricing. Journal of Housing Research 6(2): 265-284.
21. Spahr, R.W. and E.L. Escolas. 1986. Mortgage Guaranty Insurance: A Unique Style of Insurance. Journal of Risk and Insurance 57(2): 308-319.
22. Spahr, R.W., M.A. Sunderman and C.D. Amalu. 1991. Corporate Bond Insurance: Feasibility and Insurer Risk Assessment. Journal of Risk and Insurance 58: 418-437.
23. Spahr, R.W. and M.A. Sunderman. 1992. The Effect of Prepayment Modeling in Pricing Mortgage-Backed Securities. Journal of Housing Research 3(2): 381-400.
24. Stanton, T.H. 1991. A State of Risk. Harper Business: New York, NY.
25. United States Code: Congressional and Administrative News, 91st Congress-Second Session, Volume 2. Laws and Legislative History. West Publishing: Washington, DC.
26. United States General Accounting Office. 1988. Housing Finance: Agency Issuance of Real Estate Mortgage Investment Conduits. Washington, DC.
27. _. 1990. Government Sponsored Enterprises: The Government's Exposure to Risks. Washington, DC
28. United States Treasury, Report of the Secretary of the Treasury on Government Sponsored Enterprises. May 31, 1990. Washington, DC
29. Vandell, K.D. 1995. How Ruthless is Mortgage Default? A Review and Synthesis of the Evidence. Journal of Housing Research 6(2): 245-264.