Housing is considered the basic necessity of human being and its shortage is a major problem worldwide especially in less developed countries including Pakistan. Recently the commercial banks in Pakistan have started looking for housing finance. In addition to conventional banks Islamic banks...

Non-agency mortgage-backed securities (MBS) are typically priced and traded on discounted cashflow basis where a cashflow projection is made under a prepayment and default scenario and discounted with a discount margin (DM) that supposedly measures credit risk. Whilest simple and intuitive to...

This paper investigates a special form of cooperative mortgage financing practiced in Oman. We integrate the literature of Mortgage Design with that of ROSCAs/ ASCRAs to illustrate that this mode of financing dissipates credit risk better than the formal mode of financing. It is also resilient...

In Asia, government-supported housing agencies have played a constructive role in the development of domestic residential mortgage and bond markets. Several agencies have increased their overall market presence in recent years by expanding their activities and have accepted a larger share of the...

Like the United States, Denmark relies heavily on capital markets for funding residential mortgages, and its covered bond market bears a number of similarities to U.S. agency securitization. This article describes the key features of the Danish mortgage finance system and compares and contrasts...

This paper assesses the linkages between economic activity, foreign reserve, money, credit, inflation and house prices in China over last decade. The analysis is based on a structural VAR estimated using monthly data spanning the period June 2001-December 2011. We find important responses of...

This study identifies five distinctive stages of the current global financial crisis: the meltdown of the subprime mortgage market; spillovers into broader credit market; the liquidity crisis epitomized by the fallout of Northern Rock, Bear Stearns and Lehman Brothers with counterparty risk...

This study identifies five distinctive stages of the current global financial crisis: the meltdown of the subprime mortgage market, spillovers into broader credit market, the liquidity crisis epitomized by the fallout of Northern Rock, Bear Stearns with contagion effects on other financial...

We study the impact that lower complexity in bank securitisations has on mortgage quality before and during the COVID-19 pandemic. We find that mortgages issued after the introduction of the new European regulation in 2018 that aims to reduce deal complexity are characterised by up to 0.10%...