emergence of mortgage-backed securities. We also document that this relationship changed sign, from negative to positive, in the …

such financial development: the emergence of mortgage-backed securities. We also document that the relationship between the … volatility of aggregate economy activity and the development of mortgage-backed-securities markets changes sign, from negative to …

"This paper analyzes the performance of the commercial mortgage-backed security (CMBS) market before and during the … mortgage market) the loans underlying CMBS did not significantly change their characteristics during this period, commercial …

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 …

Securitized mortgage appraisals routinely target pre-specified valuations, 45% of purchase loan appraisals exactly … officers, mortgage brokers, and appraisers; and high appraisals are associated with more repeat business for appraisers …