Showing 1 - 10 of 24
To what degree has the development of alternative mortgage funding channels promoted the recent boom and bust in U.S. housing markets? Past research examined whether Alt-A and subprime market shares are correlated with the housing bubble. This paper expands the analysis to include the share of...
Persistent link: https://www.econbiz.de/10013037178
To what degree has the development of alternative mortgage funding channels promoted the recent boom and bust in U.S. housing markets? Past research examined whether Alt-A and subprime market shares are correlated with the housing bubble. This paper expands the analysis to include the share of...
Persistent link: https://www.econbiz.de/10013117232
Persistent link: https://www.econbiz.de/10009667509
Persistent link: https://www.econbiz.de/10003935790
We investigate determinants of lenders' choice to securitize loans, focusing on the quality of loans they sell to investors in the secondary mortgage market relative to ones they retain on their balance-sheets. Using several large datasets of mortgage loans originated between 2004 and 2007, we...
Persistent link: https://www.econbiz.de/10013115953
Toxic mortgage related assets in bank portfolios have tested the pervasive free market wisdom that markets can effectively discipline the risk taking behavior of financial firms. In the buildup to the current crises, banks over-leveraged themselves by investing in risky mortgage securities. In...
Persistent link: https://www.econbiz.de/10013148445
Persistent link: https://www.econbiz.de/10003637928
Persistent link: https://www.econbiz.de/10002836153
This paper examines the potential market impacts of continuous forbearance mortgages (CFM). This mortgage design embeds an insurance contract at origination that reduces the interest bearing balance to the smaller of the unpaid balance and an estimate of the current home value in exchange for an...
Persistent link: https://www.econbiz.de/10012999166
This paper evaluates the effect of payment reduction on mortgage default within the context of the Home Affordable Refinance Program (HARP). We find that mortgage default is sensitive to payment reduction using univariate, duration, and hazard modeling approaches. A relative risk Cox model of...
Persistent link: https://www.econbiz.de/10013020842