Svenstrup, Mikkel; Willemann, Soren - In: Journal of Real Estate Research 28 (2006) 2, pp. 105-130
This paper investigates the effect of adding a distinct feature of the Danish mortgage market to the market in the United States. This feature, a buyback option, enables mortgagors to buy back their share of the mortgage-backed security at market price. Extending a standard referenced pricing...