Agarwal, Sumit; Chang, Yan; Yavas, Abdullah - In: Journal of Financial Economics 105 (2012) 3, pp. 640-660
market, banks generally sold low-default-risk loans into the secondary market while retaining higher-default-risk loans in …. Securitization strategy of lenders changed dramatically in 2007 as the crisis set in with most unwilling to retain higher-default …