conditions required by the banking system to grant a mortgage. The authors find that easier access to credit inflates housing …

This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit … households’ creditworthiness conditions required by banks in order to grant a mortgage. Results show that easier access to credit …

This paper studies the Continuous Workout Mortgage (CWM), a two in one product: a fixed rate home loan coupled with … that mortgage values and payments should be linked to housing prices and adjusted downward to prevent negative equity. We … within amortizing mortgage context. We derive new closed-form and new analytical approximation methodologies which apply both …

, and its relationship with mortgage default. We find that lender effort to collect soft information is intertwined with … adversely select. The development and expansion of securitization has diminished soft information while increasing borrower …

Credit score cutoff rules result in very similar potential borrowers being treated differently by mortgage lenders …. Recent research has used variation induced by these rules to investigate the connection between securitization and lender … interpret the cutoff rule evidence and conclude that mortgage securitizers were in fact aware of and attempted to mitigate the …

Mortgage originators use credit score cutoff rules to determine how carefully to screen loan applicants. Recent … research has hypothesized that these cutoff rules result from a securitization rule of thumb. Under this theory, an observed … jump in defaults at the cutoff would imply that securitization led to lax screening. We argue instead that originators …

Due to the significant share of mortgage loans in the portfolio structure of a large number of commercial banks … that deals with the causes of non-performance of mortgage loans and the impact of lending standards on reducing systemic …

vintage effects and parameter instability in mortgage credit risk models. We develop a model of mortgage choice and default …