research for the U.S. home mortgage market suggests that securitization itself may not have been a problem, but rather the …The agency conflicts inherent in securitization are viewed by many as having been a key contributor to the recent …

securitization activity, weak supervision for bank capital and too low for too long monetary policy rates. Conversely, low long …

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 …

covered bond market bears a number of similarities to U.S. agency securitization. In this paper we describe the key features … of the Danish mortgage finance system and compare and contrast it to the U.S. system. We also note characteristics of the … Danish model that may be of interest as the United States considers further mortgage finance reform. In particular, the …

Two factors have proven to be strongly relevant for the subprime mortgage crisis. The first is the lack of screening … securitization or if they choose vertical slice retention instead of retaining the equity tranche. Moreover, the relevance of credit …. This suggests that investors have learned their lesson from the subprime mortgage crisis. …

positive relationship between screening effort and the delay of sale. We test this theoretical prediction using the mortgage … market as a laboratory, with processing time serving as a measure of screening effort. In line with the theory, mortgage … delay of sale are negatively related to conditional mortgage default, even though mortgages with higher ex ante credit risk …