mortgage interest payments were not tax deductible. Temporarily higher inflation might have lowered the foreclosure rate as …

mortgage crisis by studying the consequence of an unanticipated increase in the supply of housing (overbuilding shock). They …

An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002 … purchase mortgages to subprime borrowers. We also document that the expansion in speculative mortgage products and underwriting …

done to stop it. We use an economic model to focus on two key decisions: the borrower's choice to default on the mortgage … illustrate that "unaffordableʺ loans, defined as those with high mortgage payments relative to income at origination, are … for the low number of modifications than contract frictions related to securitization agreements between servicers and …

mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using …

covered bond market bears a number of similarities to U.S. agency securitization. In this paper we describe the key features … of the Danish mortgage finance system and compare and contrast it to the U.S. system. We also note characteristics of the … Danish model that may be of interest as the United States considers further mortgage finance reform. In particular, the …

We analyze link between mortgage-related regulatory penalties levied on banks and the level of systemic risk in the U …

) shocks: an increased inow of global savings into the United States, and innovations in the securitization of mortgage credit … spreads. Only innovation in securitization (direct relaxation of the securitizers' financial constraint) matches mortgage …From 2000-2006 U.S. house prices and mortgage credit grew while the relative cost of mortgage credit fell …

We analyze link between mortgage-related regulatory penalties levied on banks and the level of systemic risk in the U …