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The pricing of subprime mortgage risk in good times and bad: evidence from the ABX.HE indices
Fender, Ingo; Scheicher, Martin - 2009
This paper investigates the market pricing of subprime mortgage risk on the basis of data for the ABX.HE family of … introduction into ABX index mechanics and a discussion of historical pricing patterns, we use regression analysis to establish the … for the inappropriateness of pricing models that do not sufficiently account for factors such as risk appetite and …
Persistent link: https://www.econbiz.de/10011605102
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Do financial counseling mandates improve mortgage choice and performance? Evidence from a legislative experiment
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2009
We explore the effects of mandatory third-party review of mortgage contracts on the terms, availability, and performance of mortgage credit. Our study is based on a legislative experiment in which the State of Illinois required 'high-risk' mortgage applicants acquiring or refinancing properties...
Persistent link: https://www.econbiz.de/10010292159
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Do financial counseling mandates improve mortgage choice and performance? : evidence from a legislative experiment
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2009
We explore the effects of mandatory third-party review of mortgage contracts on the terms, availability, and performance of mortgage credit. Our study is based on a legislative experiment in which the State of Illinois required “high-risk” mortgage applicants acquiring or refinancing...
Persistent link: https://www.econbiz.de/10003892591
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The U.S. Precedent of the Spanish SOCIMI : The Real Investment Trusts (REITs) (In Spanish)
Marcos, Francisco - 2011
This article reviews the origins, evolution and legal discipline of U.S. Real Estate Investment Trusts (REITs) as a way of comparative contextualization of the new real state market investment listed corporations, set up by Act 1/2009, of October 26
Persistent link: https://www.econbiz.de/10013132907
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Information Failure and the U.S. Mortgage Crisis
Levitin, Adam J. - 2012
This paper argues that during the housing bubble, housing finance markets failed to price risk correctly because of information failure caused by the complexity and heterogeneity of private-label mortgage-backed securities and structured finance products. Addressing the informational problems...
Persistent link: https://www.econbiz.de/10013115637
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Global Financial Crisis and Mortgage Finance and Valuation Problems : An Assessment of the U.S. and Turkish Mortgage Systems
Coskun, Yener - 2011
After emerging from the U.S. real estate and financial markets, financial crisis has gradually become global. Due to both primary and secondary mortgage market problems in the U.S. are accepted as the essential reasons of the current crisis, it is believed that financial markets and real estate...
Persistent link: https://www.econbiz.de/10013117652
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Dynamic Effects of Financial Stress on the U.S. Real Estate Market Performance
Sum, Vichet - 2014
Based on the theoretical framework of financial amplification, this study is set up to investigate the dynamic effects of financial stress on the performance of the U.S. real estate market proxied by Real Estate Investment Trust (REIT) returns in the United States using vector autoregressive...
Persistent link: https://www.econbiz.de/10013064793
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To Sleep, Perchance to Dream : Prices for Funeral Homes in US States
Canofari, Paolo - 2016
The need for a proper burial is widely felt. This paper makes use of an original data set to explore the relationship between the prices of cemetery plots and the prices of housing. It considers a simple model where the services from both real estate and funeral homes enter individuals' utility...
Persistent link: https://www.econbiz.de/10012979108
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A Structural Model for the Demand for Lease Renewals in the U.S. Leasing Industry
Gomez-Sorzano, Gustavo A. - 2008
I estimate a theoretically and statistically satisfying model to account for the demand for lease renewals for one of the largest Real Estate Investment Trust companies (REIT) in the U.S. The variables that together account for ninety eight percent of the variation in the demand for lease...
Persistent link: https://www.econbiz.de/10014215507
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When Is Depreciation Meaningful in Valuation? Changing Valuation Weights for U.S. REITs and Non-REITs
Begley, Joy; Chamberlain, Sandra; Joo, Jeong Hwan - 2022
This article regresses the market value of equity on pre-depreciation income and on depreciation expense for capital-intensive firms, referring to the coefficients from our model as valuation weights. The valuation weight on depreciation expense versus the weight on pre-depreciation income are...
Persistent link: https://www.econbiz.de/10014235671