Kau, James; Keenan, Donald; Lyubimov, Constantine - In: The Journal of Real Estate Finance and Economics 48 (2014) 4, pp. 561-588
Using 35,437 pairs of first and second mortgages matched from within a much larger set of subprime mortgages, this paper tracks and describes the tendency for either one of the mortgages to enter default, as well as the tendency for either the one or the other mortgage to ever return to being...