economic effects of mortgage securitization. We also assemble descriptive statistics about market size, growth, security … the MBS market and mortgage securitization. …

economic effects of mortgage securitization. We also assemble descriptive statistics about market size, growth, security … the MBS market and mortgage securitization …

We solve the problem of optimal securitization for an issuer facing heterogeneous investorswith arbitrary time and risk … portfolio of thesetranches. In particular, when all agents have CARA utilities, the linear tranching is optimal,with the number …

The application, or to be more precise, the misapplication of securitization in the mortgage market had fatal … consequences for the financial sector worldwide. More over securitization techniques enabled single banks to reduce their … financial system. In particular, securitization and related credit risk transfer products were adequately treated neither in …

Does securitization distort the foreclosure decisions of non-performing mortgages? In a model of mortgage …-backed securitization with an endogenous foreclosure policy, we find that the securitizing bank adopts a tougher foreclosure policy than the … problem in securitization by making the optimal security, a risky debt, less information-sensitive. We further show that …