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 …

homeowner only once the loan is repaid. By effectively reducing the LTV of the mortgage, it increases the homeowner's incentives …

The mortgage default decision is part of a complex household credit management problem. We examine how factors … affecting mortgage default spill over to other credit markets. As home equity turns negative, homeowners default on mortgages … intensify the preservation of credit cards over housing debt. Although mortgage non-recourse statutes increase default on all …