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The role of securitization in mortgage renegotiation

Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2011

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 …

Persistent link: https://www.econbiz.de/10010292147

Market-Based loss mitigation practices for troubled mortgages following the financial crisis

Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2010

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

Persistent link: https://www.econbiz.de/10010292190

Equilibrium mortgage choice and housing tenure decisions with refinancing

Chambers, Matthew S.; Garriga, Carlos; Schlagenhauf, Don - 2007

The last decade has brought about substantial mortgage innovation and increased refinancing. The objective of this paper is to understand the determinants and implications of mortgage choice in the context of a general equilibrium model with incomplete markets. The equilibrium characterization...

Persistent link: https://www.econbiz.de/10010292368

Labour market praticipation and mortage related borrowing constraints

Bottazzi, Renata - 2004

This paper analyses the relationship between female labour market participation and mortgage commitments in life-cycle set up. In particular it examines whether a mortgage qualification constraint has any effect on female labour market participation. This is done by conditioning on the mortgage...

Persistent link: https://www.econbiz.de/10010293082

House Prices, Second Mortgages and Household Savings; An Empirical Investigation for the Netherlands, 1987-1994

Rouwendal, Jan; Alessie, Rob - 2002

paper we study the effect of this developmenton the demand for second mortgages and on the savings of Dutch households. We … investigatethe effect of house prices on (i) the number and size of second mortgages, (ii) the savingsof owner-occupiers and (iii … for second mortgages.Savings of homeowners decrease when house prices accelerate. We find no evidence that inc …

Persistent link: https://www.econbiz.de/10010325002

Household leveraging and deleveraging

Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2013

U.S. households' debt skyrocketed between 2000 and 2007, but has since been falling. This leveraging and deleveraging cycle cannot be accounted for by the liberalization and subsequent tightening of mortgage credit standards that occurred during the period. We base this conclusion on a...

Persistent link: https://www.econbiz.de/10010333598

Consumption and initial mortgage conditions: evidence from survey data

Masier, Giacomo; Villanueva, Ernesto - 2011

Economic theory predicts that the consumption path of unconstrained homeowners responds to the interest rate, while the consumption path of credit constrained homeowners is determined by the size and timing of payments (mortgage maturity). We exploit the rapid expansion of mortgage markets...

Persistent link: https://www.econbiz.de/10011605343

Property Prices and Real Estate Financing in a Turbulent World

Balling, Morten; Bentzen, Christian Sinding; Berg, Jesper; … - 2013

On 15th November 2012 in Copenhagen, SUERF and Nykredit in association with Danmarks Nationalbank organised a conference on “Property prices and real estate financing in a turbulent world.” The papers included in this SUERF Study are based on contributions to the conference.

Persistent link: https://www.econbiz.de/10011689960

Reversion to the Racial Mean and Mortgate Discrimination

Sanandaji, Tino - 2009

Studies of mortgage approvals find that minority borrowers are more likely to be denied loans, even when background variables such as current-year income are held constant. This article demonstrates that relying on current year income when comparing racial outcomes leads to an overestimation of...

Persistent link: https://www.econbiz.de/10010320339

Lessons from the subprime meltdown

Wray, L. Randall - 2007

trend toward securitization of home mortgages. This paper identifies the causes and consequences of the financial …

Persistent link: https://www.econbiz.de/10010266599