government backing of the mortgage market. Nonetheless, the dominance of the crown corporation CMHC in the mortgage insurance … market concentrates a significant amount of risk in public finances. Improving competitive conditions in the mortgage …

We show that a contraction of mortgage supply after the Great Recession has increased housing rents. Our empirical …

We develop new measures to detect income falsification on mortgage applications during the housing bubble. We find that …

Home appraisals are produced for millions of residential mortgage transactions each year, but appraised values are … institutional framework that governs mortgage lending lead to information loss in appraisals (that is, appraisals set equal to the … incidence of mortgage default at loan-to-value boundaries (notches) above which mortgage insurance rates increase. Appraisals …

amount of home equity that is expected to be released over a 10-year period through regular monthly mortgage payments. We …

In assessing the riskiness of a mortgage loan, one of the primary underwriting criteria used by lenders and one of the …. In this paper, we address mortgage default from a new perspective: instead of focusing on the overall property value, we … the players in the mortgage industry and for policy makers is that, in order to have the same default rate, a property …

origination. In particular, the loan amount of a 30-year mortgage at a 95% LTV can be 15% greater than the collateral value of the … property, suggesting the mortgage is already deep "under water" at origination. These findings call into questions underwriting …

Long-term fixed-rate mortgage contracts protect households against interest rate risk, yet most countries have … fixation length tracks the life-cycle decline of credit risk in the mortgage market: the loan-to-value (LTV) ratio decreases … using shorter-term contracts. To quantify demand for long-term contracts, I develop a life-cycle model of optimal mortgage …

mortgage equity withdrawal (MEW) loan products were denied. Black and Hispanic homeowners' applications were denied at even … with purchase and rate/term refinance mortgage applications. Controlling for loan and borrower characteristics commonly …