distortions in the supply of mortgage credit, evidenced by a decoupling of credit flow from income growth, may have caused the … rise in house prices and the subsequent housing market collapse. This paper shows that the increase in mortgage … to earlier years. We show that the relation between individual mortgage size and income growth during the housing boom …

bust and to analyze foreclosure mitigation policy. We consider a dynamic search model in which foreclosures freeze the … the model fit both national and cross-sectional moments better than a model without foreclosure. When calibrated to the …

In this paper we examine the relationship between homeowners' bankruptcy decisions and their mortgage default decisions … mortgages. Bankruptcy and foreclosure similarly may be either substitutes or complements. In fact we show that both … foreclosure rates raise homeowners' probability of foreclosure. We provide estimates of the size of these effects …

We develop and estimate a unified model of house prices, loan-to-value ratios (LTVs), and trade and foreclosure … property and produce selection-corrected estimates of historical LTVs and foreclosure behavior, both showing large … finance (e.g., pricing mortgage-backed securities) …

exposed to the 2003 acceleration of the private label mortgage securitization (PLS) market witnessed a sudden and large … increase in mortgage originations and house prices from 2003 to 2006, followed by a collapse in house prices from 2006 to 2010 … volume from 2003 to 2006, and helped trigger the mortgage default crisis in 2007 …

(not overvalued), by about 30% in 2019q4. Due to rising mortgage rates, they are less undervalued in 2023q2, but still …The PTI ratio disregards mortgage rates and other housing costs and lacks scientific support. According to a large …