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Prepayment Penalties : Efficiency and Predation
Rose, Morgan J. - 2012
This paper presents evidence that reductions in mortgage interest rates associated with prepayment penalties are … greater for riskier borrowers, as measured by mortgage type, credit scores, and local incomes and education levels. This is …
Persistent link: https://www.econbiz.de/10013113897
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Origination Channel, Prepayment Penalties, and Default
Rose, Morgan J. - 2011
This paper presents evidence that non-bank-originated sub-prime mortgages have a higher probability of default than bank-originated sub-prime mortgages, but only for loans with prepayment penalties. Evidence also indicates that non-banks price prepayment penalties less favorably to borrowers...
Persistent link: https://www.econbiz.de/10013121606
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Origination Channel, Prepayment Penalties, and Default
Rose, Morgan J. - 2011
This paper presents evidence that non-bank-originated subprime mortgages have a higher probability of default than bank-originated subprime mortgages, but only for loans with prepayment penalties. Evidence also indicates that non-banks price prepayment penalties less favorably to borrowers than...
Persistent link: https://www.econbiz.de/10013122292
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AVM versus Appraisal-Based Underwriting in Refinance Mortgages : The Trade-off Between Noise and Bias
Krivorotov, George - 2020
Extensive research has confirmed that there is significant anchoring bias in purchase mortgage appraisals, with …
Persistent link: https://www.econbiz.de/10012833790
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Agency and Incentives : Vertical Integration in the Mortgage Foreclosure Industry
Lambie-Hanson, Lauren - 2015
mortgage foreclosure auction process compared with law firms that contract with independent auction companies. They find that …
Persistent link: https://www.econbiz.de/10013013531
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Mortgage Markets with Lender Competition and Asymmetric Information
Bandeh-Ahmadi, Ayeh - 2015
amongst mortgage lenders and adds the idea of lender competition into this framework. Despite this addition, the results are … loans, selling most of their mortgages and making less profit off each mortgage while concentrated lenders do the opposite …
Persistent link: https://www.econbiz.de/10013027213
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Mortgages, Developers and Property Prices
Chui, Michael K.F. - 2018
This special feature studies the risks posed by the rapid rise in property developer debt in several Asian economies in recent years. Gradually, the firms involved are shifting away from traditional bank loans and choosing to issue debt securities, often in foreign currency. So far indebtedness...
Persistent link: https://www.econbiz.de/10012925137
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State-aided price coordination in the dutch mortgage market
Dijkstra, Mark A.; Schinkel, Maarten-Pieter - 2019 - Revision: July 2019
mortgage providers but the largest bank shifted the Dutch mortgage market from a competitive to a collusive price leadership … equilibrium. In May 2009, mortgage rates in The Netherlands suddenly rose against the decreasing funding cost trend to almost a …, and estimate response adjustments in cointegrating equations on a large data set of daily mortgage rates 2004 …
Persistent link: https://www.econbiz.de/10011979609
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Real estate brokers and commission: Theory and calibrations
Shy, Oz - 2009
The author constructs a theoretical model to examine the effects of an inherent conflict of interest between a seller of a house and the real estate broker hired by the seller. The model is then used to calibrate the broker's commission rates that would maximize the seller's expected gain. The...
Persistent link: https://www.econbiz.de/10010280960
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A note on the pricing of real estate index linked swaps
Björk, Tomas; Clapham, Eric - 2002
In this paper we discuss the pricing of commercial real estate index linked swaps (CREILS). This particular pricing problem has been studied by Buttimer et al. (1997) in a previous paper. We show that their results are only approximately correct and that the true theoretical price of the swap is...
Persistent link: https://www.econbiz.de/10010281429