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作者

Kristopher Gerardi;Lara Loewenstein;Paul S. Willen

来源

来源 HOUSING POLICY DEBATE,Vol.31,Issue.1

语言

英文

关键字

作者单位

a Research Department, Federal Reserve Bank of Atlanta, GA, USA;b Research Department, Federal Reserve Bank of Cleveland, OH, USA;c Research Department, Federal Reserve Bank of Boston, MA, USA

摘要

Mortgage borrowers who have experienced employment disruptions as a result of the COVID-19 pandemic are unable to refinance their loans to take advantage of historically low market rates. In this article, we analyze the effects of a streamlined refinance program for government-insured loans that would allow borrowers to refinance without needing to document employment or income. In addition, we consider a cash-out component that would allow borrowers to extract some of the substantial housing equity that many have accumulated in recent years.