repayment and interest-only CWMs; (b) closed form formulae for mortgage payment and mortgage balance of a repayment CWM; (c) a … closed form formula for the actuarially fair mortgage rate of an interest-only CWM. For repayment CWMs we extend our analysis …

leverage, precautionary saving in liquid assets and illiquid home equity, debt repayment, mortgage refinancing, and default …

Mortgage refinancing activity associated with extraction of home equity contains a strongly counter-cyclical component … empirically evaluate its predictions for the households' choices of leverage, liquid assets, and mortgage refinancing using micro …

mortgage refinancing activity and spur consumption by focusing on the Home Affordable Refinance Program (HARP). The policy …Using loan-level mortgage data merged with consumer credit records, we examine the ability of the government to impact … in refinancing activity by HARP. More than three million eligible borrowers with primarily fixed-rate mortgages …