reveals that amortization requirements may create incentives for both borrowers and lenders to borrow and lend more rather … than less. Suppose that a household plans to finance a given housing purchase through a preferred future mortgage path. If … that mortgage path violates a new amortization requirement, the household can still achieve its preferred mortgage path …

levels of outstanding mortgage debt (Dynan, 2012) - seems to be taken for granted by macroprudential authorities in several …