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Refinance News | Refinance Share Statistics
News about refinancing programs, pricing and production. Stories about the H o m e
Affordable Refinance Program, H A R P 2.0 and other Making Home Affordable coverage.
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| Fed Economists Suggest Rapid Mortgage Paydown Plan
Proposal among alternatives to current process
Jan. 11, 2018
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Alternatives to the current long-term process of paying down a mortgage include one proposed by a pair of economists at the Federal Reserve Board.
Fed economists Wayne Passmore and Alexander H. von Haften discussed their alternative approach in a working paper titled Financing Affordable and Sustainable Homeownership With Fixed-COFI Mortgages.
Their central idea for encouraging more rapid equity growth is to trade off the borrower's right to refinance when interest rates fall, which imposes a heavy cost on lenders, for larger principal payments. |
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Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
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