TY - JOUR T1 - The “New” Housing and Mortgage Market JF - The Journal of Structured Finance SP - 20 LP - 34 DO - 10.3905/jsf.2016.22.1.020 VL - 22 IS - 1 AU - Douglas Duncan Y1 - 2016/04/30 UR - https://pm-research.com/content/22/1/20.abstract N2 - This article focuses on the production, delivery of, and investment in mortgage-related assets, including what has changed and what the future looks like in this market. The number and volume of those assets are derivative of the underlying real estate, so the article briefly describes the U.S. demographic profile, which drives demand for places to live—rentals and owned property, and offers a view on what this means for mortgage asset volumes. There follows a review of the organization of firms that make mortgage loans to consumers in the primary market. The author discusses how a number of post-crisis economic and policy forces have been acting on these firms and changing the opportunities and constraints they face as well as how the environment has altered the product set these firms offer. The author provides perspective on how the demographic factors and the implied potential mortgage-related asset volumes might look going forward and how they are likely to affect the number and type of firms operating in the primary market.TOPICS: MBS and residential mortgage loans, legal/regulatory/public policy ER -