We explore the capital structure and governance of a mortgage-insuring securitization utility operating with government … for appropriate pricing and transfer of mortgage risks across the private sector and between the private sector and the … mortgage guarantee fee, whose size we find is most sensitive to the required capital ratio and the expected return on that …

the CRT programs have been successful in reducing the exposure of the federal government to mortgage credit risk without … disrupting the liquidity or stability of mortgage secondary markets. In the process, the programs have created a new financial … market for pricing and trading mortgage credit risk, which has grown in size and liquidity over time. The CRT programs …

' residential mortgage lending activities. Our theoretical model shows that using mortgage-related membership criteria or requiring … mortgage-related collateral does not ensure that FHLB advances will be put to use for stabilizing members' financing of housing …

deriving more accurate estimators of time-varying forecast confidence intervals. On the basis of CDO, MBS and Pfandbrief …

Agency mortgage backed securities (MBS) with diverse characteristics are traded in parallel with individualized … this unique parallel trading environment significantly affects MBS returns: (1) Greater heterogeneity in MBS values … increases the yields of all MBS, because it exacerbates the cheapest-to-deliver concerns for TBA buyers and reduces the value of …