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 …

During the recent housing recession and financial crisis, mortgage modification has been heavily promoted by government …

We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making … mortgage-related risks internationally tradeable, securitization contributes considerably to better international consumption … risk sharing: we find that countries with the most highly developed markets for securitized mortgage debt have consumption …

these GSEs as mortgage market conditions deteriorated in 2007 and 2008. The analysis focuses on a key element of OFHEO …

for Fannie Mae and Freddie Mac. We study a key component of OFHEOs model - 30-year fixed-rate mortgage performance - and … in a significant underprediction of mortgage credit losses and associated capital needs at Fannie Mae and Freddie Mac …

, residential mortgage-backed securities, consumer and other unspecified loans as well as for non-frequently issuing, systemically …

is affected by a mortgage pricing convention that underestimates co-borrowers' actual creditworthiness. Specifically, we … variation across time in mortgage rates to confirm that the difference in prepayment incidence exists only during a period of … declining mortgage rates. At an aggregate level, we find that geographic areas with higher concentration of co-borrowers are …