We study credit ratings on subprime and Alt-A mortgage-backed-securities (MBS) deals issued between 2001 and 2007, the … period leading up to the subprime crisis. The fraction of highly rated securities in each deal is decreasing in mortgage … underperformance (high mortgage defaults and losses and large rating downgrades) among deals with observably higher risk mortgages …

Fixed-rate mortgages (FRMs) dominate the U.S. mortgage market, with important consequences for monetary policy …

Most mortgages in the U.S. are securitized in agency mortgage-backed securities (MBS). Yield spreads on these …

of the Danish mortgage finance system and compare and contrast it to the U.S. system. We also note characteristics of the … Danish model that may be of interest as the United States considers further mortgage finance reform. In particular, the … borrowers the option to repurchase their mortgage at the market price, mitigating “lock-in” effects. Danish mortgage …

Surprisingly little is known about the importance of mortgage payment size for default, as efforts to measure the …

The 2010s saw a profound shift towards jumbo mortgage lending by large banks that are regulated under the Dodd …-Frank Act. Using data from the Home Mortgage Disclosure Act, we show that the “jumbo shift” is correlated with being subject to …

This paper reviews the mortgage-backed securities (MBS) market, with a particular emphasis on agency residential MBS in … economic effects of mortgage securitization. We also assemble descriptive statistics about market size, growth, security … the MBS market and mortgage securitization …

this model are consistent with preserving the “to-be-announced,” or TBA, market – particularly if the fixed-rate mortgage …