Complex mortgages became a popular borrowing instrument during the bullish housing market of the early 2000s but … mortgages) enable households to postpone loan repayment compared to traditional mortgages and hence relax borrowing constraints … contract terms. We document that complex mortgages were chosen by prime borrowers with high income levels seeking to purchase …

We study the effects of securitization on renegotiation of distressed residential mortgages over the current financial …–36% more likely to be renegotiated than comparable securitized mortgages (4.2–5.7% in absolute terms). Also, modifications of …

show that the majority of delinquent mortgages do not enter any loss mitigation program or become a part of foreclosure …

We study the effects of securitization on renegotiation of distressed residential mortgages over the current financial … 36% more likely to be renegotiated than comparable securitized mortgages (4.2 to 5.7% in absolute terms). Also …

We study the effects of securitization on renegotiation of distressed residential mortgages over the current financial … 36% more likely to be renegotiated than comparable securitized mortgages (4.2 to 5.7% in absolute terms). Also …

show that the majority of delinquent mortgages do not enter any loss mitigation program or become a part of foreclosure …