I develop a structural model of mortgage demand and lender competition to study how leverage regulation affects the … leverage regulation increases the concentration of mortgage originations, as large lenders exploit a regulatory cost advantage … equilibrium in the UK mortgage market. Using variation in risk-weighted capital requirements across lenders and across mortgages …

This paper is a first attempt to connect the heterogeneity in bank efficiency with lending fluctuations and allocation …

This paper is a first attempt to connect the heterogeneity in bank efficiency with lending fluctuations and allocation …

The recent financial crisis has posed new challenges to the pricing issue of mortgage insurance premiums. By extending … mortgage defaults, the diversification effect of underlying property pools and mortgage insurers' information advantages. Our … that although the rising number of pooled mortgage loans can reduce the volatility of average default losses, the …

bank sends a letter before the annual reset containing advance information on the expected change in mortgage payments. We …

associated with the liquidation of collateralized debt. Using the mortgage market as a laboratory, we conjecture that lenders …

The relationship between the mortgage interest rate and a household's demand for mortgage debt has important … novel estimates of the interest rate elasticity of mortgage demand. Our empirical strategy exploits a discrete jump in … Freddie Mac. This discontinuity creates a large "notch" in the intertemporal budget constraint of prospective mortgage …

This paper examines the impact of refinance on mortgage default, based on an empirical investigation of Home Affordable …