positive relationship between screening effort and the delay of sale. We test this theoretical prediction using the mortgage … market as a laboratory, with processing time serving as a measure of screening effort. In line with the theory, mortgage … delay of sale are negatively related to conditional mortgage default, even though mortgages with higher ex ante credit risk …

probability that banks securitize mortgage loans. This result is driven by an 11 basis point increase in deposit costs and …

placement of mortgage-backed securities (MBS) with mutual funds. We do so by capitalizing on a unique testing platform … deal's underwriter/issuer and vertical integration in securitization …

placement of mortgage-backed securities (MBS) with mutual funds. We do so by capitalizing on a unique testing platform … deal's underwriter/issuer and vertical integration in securitization …

document a systematic positive link between distance and the mortgage sale rate. Mortgage securitization encourages lending at … removal of barriers to physical bank entry in the 1990s. The welfare implications are ambiguous: mortgage securitization …Do lemon problems distort trade on secondary mortgage markets? In this paper, I present new evidence that they do …

A commercial mortgage-backed security (CMBS) is a claim on future returns to a bundle of loans. Empirically, loans that …

We explore the capital structure and governance of a mortgage-insuring securitization utility operating with government … for appropriate pricing and transfer of mortgage risks across the private sector and between the private sector and the … mortgage guarantee fee, whose size we find is most sensitive to the required capital ratio and the expected return on that …

securitization and mortgage credit markets. An endogenous securitization market efficiently reallocates illiquid assets, increases … risk induce expansion and contractions of mortgage credit through the securitization liquidity channel. Adverse selection … liquidity to fund mortgage lending, and lowers mortgage rates for households. However, its benefits are hindered by originators …

This study examines the relationship between securitization and loan performance using proprietary loan-level data from … retained on the bank's balance sheet, suggesting no adverse selection or moral hazard within the Chinese securitization market … alters banks' business model and eliminates other options of credit risk transfer except for securitization, we show worse …