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The demand for long-term mortgage contracts and the role of collateral
Liu, Lu - 2023
fixation length tracks the life-cycle decline of credit risk in the mortgage market: the loan-to-value (LTV) ratio decreases …-LTV borrowers, who pay large initial credit spreads, trade off their insurance motive against reducing credit spreads over time …
Persistent link: https://www.econbiz.de/10014309040
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2003 Testimony on Securitization and Predatory Lending in a Hearing on 'Protecting Homeowners : Preventing Abusive Lending While Preserving Access to Credit'
Eggert, Kurt - 2009
This 2003 Congressional Testimony warns of the dangers of securitizing subprime loans. After defining "predatory lending" and describing the process of securitization, it argues that securitizing subprime loans has many dangers. While some have claimed that securitizing loans lowers loan costs...
Persistent link: https://www.econbiz.de/10013155644
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Fed liftoff and subprime loan interest rates : evidence from the peer-to-peer lending market
Bertsch, Christoph; Hull, Isaiah; Zhang, Xin - 2016
inclusion of a broad set of loan-level controls and fixed effects. We also find that the spread between high and low credit …
Persistent link: https://www.econbiz.de/10011457389
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Financialisation of the Maltese household? : household debt dynamics, the mortgage market, and housing in Malta
Cassar, Dylan - 2023
This paper provides a comprehensive assessment of household debt dynamics in Malta between 2010 and 2020. Drawing on the Household Finance and Consumption Survey, it argues that a process of financialisation of the household is underway on the Maltese islands, primarily via the mortgage market....
Persistent link: https://www.econbiz.de/10014427487
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The Value of Intermediaries for GSE Loans
Bosshardt, Joshua; Kakhbod, Ali; Kermani, Amir - National Bureau of Economic Research - 2023
counterfactual in which the GSEs' underwriting criteria are implemented passively. Finally, the observed differences between banks …
Persistent link: https://www.econbiz.de/10014337808
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Searching for Approval
Agarwal, Sumit - 2020
We study the interaction of search and application approval in credit markets. We combine a unique dataset, which … credit markets from other search markets. Based on these insights, we build a model that combines search and screening in … application rejections, and highlights the tight link between credit standards and pricing. We estimate the parameters of the …
Persistent link: https://www.econbiz.de/10012832000
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Mortgage amortization and wealth accumulation
Bernstein, Asaf; Koudijs, Peter - 2020
Standard mortgage contracts include periodic debt repayment plans (amortization schedules) designed to build-up illiquid savings in the form of home equity, which can be substantial even from a macroeconomic standpoint. For example, U.S. households contribute hundreds of ($) billions each year...
Persistent link: https://www.econbiz.de/10012244519
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Mortgage Securitization Dynamics in the Aftermath of Natural Disasters : A Reply
Ouazad, Amine; Kahn, Matthew E. - 2023
Climate change poses new risks for real estate assets. Given that the majority of home buyers use a loan to pay for their homes and the majority of these loans are purchased by the Government Sponsored Enterprises (GSEs), it is important to understand how rising natural disaster risk affects the...
Persistent link: https://www.econbiz.de/10014362193
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Simplifying Complex Disclosures : Evidence from Disclosure Regulation in the Mortgage Markets
Kielty, Patrick; Wang, K. Philip; Weng, Diana - 2021
Complex disclosures have been recognized as a major source of borrowers’ poor understanding of mortgages. We examine the effect of simplifying mortgage disclosures on loan outcomes in a difference-in-differences design by exploiting a significant regulatory change of mortgage disclosures in...
Persistent link: https://www.econbiz.de/10013246041
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Mortgage pricing and monetary policy
Benetton, Matteo; Gavazza, Alessandro; Surico, Paolo - 2021
This paper provides novel evidence on lenders’ mortgage pricing and on how central bank operations affected it. Using the universe of mortgages originated in the UK, we show that lenders seek to segment the market by offering two-part tariffs composed of interest rates and origination fees,...
Persistent link: https://www.econbiz.de/10013214651