Hung, Chih-Hsing; Chen, Ming-Chi; Tzang, Shyh-Weir - In: Emerging Markets Finance and Trade 48 (2012) S3, pp. 157-174
-rate mortgage (FRM) with embedded prepayment and non-defaultable options. We find that the value of the FRM will increase when … of prepayment penalties that may help financial institutions enact specific yield maintenance agreements and that may aid …