Risk Recoil, Industry Turmoil Lead to Sharp Drop In Higher-Priced Mortgage Originations in 2007
September 18, 2008
Originations of higher priced mortgages fell dramatically last year as lenders tuned their production engines to lower-risk products and a number of companies fell out of the market altogether, according to a Federal Reserve Board analysis of newly available Home Mortgage Disclosure Act data. The share of closed loans that met the Fed’s higher priced mortgage reporting trigger... [Includes two charts]