, but not mortgagees who can mitigate financial distress by reducing expenditure during furlough by deferring mortgage … payments though the Mortgage Holiday Scheme. Furloughed individuals significantly reduce expenditure and spend their savings to …

recent subprime mortgage crisis. Why did the financial markets fail to anticipate the recent debt crisis, despite the large …

We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making … mortgage-related risks internationally tradeable, securitization contributes considerably to better international consumption … risk sharing: we find that countries with the most highly developed markets for securitized mortgage debt have consumption …

This paper explores the importance of housing and mortgage market heterogeneity in 12 European countries for the …

In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since … when house prices rise and mortgage rates are low, homeowners have an incentive to withdraw housing equity and this may … withdrawal and interest rates and find that indeed mortgage equity withdrawal is a key determinant of the observed saving pattern. …

We assess the credit market impact of allowing mortgage “strip-down” as a foreclosure-prevention measure, where strip …-term reduction in mortgage interest rates and a small, short-term increase in mortgage approval rates, but no long-term effects, and … the circuit court decisions did not consistently affect mortgage terms. These results suggest that strip-down would be an …