60% of US mortgage market. Exploiting within-servicer variation in this data, we find that bank-held loans are 26% to 36 …

repayment and interest-only CWMs; (b) closed form formulae for mortgage payment and mortgage balance of a repayment CWM; (c) a … closed form formula for the actuarially fair mortgage rate of an interest-only CWM. For repayment CWMs we extend our analysis …

The meltdown in residential real-estate prices that commenced in 2006 resulted in unprecedented mortgage delinquency … study these methods-liquidation, repayment plans, loan modification, and refinancing — and analyze their effectiveness. We … following modifications. While modification terms are more favorable for weaker borrowers, greater reductions in mortgage …

Refinancing a mortgage is often one of the biggest and most important financial decisions that people make. Borrowers … borrowers make smaller mistakes, refinancing at rates closer to the optimal rate and waiting less after mortgage rates reach the … take the steps to refinance before rates change again. The optimal differential is where the interest saved by refinancing …

Limbo loans are defined as delinquent mortgage loans that have not progressed to resolution. We utilize a unique legal … impairment of property rights explains both the likelihood and longevity of delay. We find that the presence of the Mortgage …

refinancing have not done so. We investigate the rates at which, relative to prime borrowers, subprime borrowers seek and take out … refinance loans, conditional on not experiencing mortgage default. We find that starting in 2009, subprime borrowers are about … half as likely as prime borrowers to refinance, although they still shop for mortgage credit, indicating their interest in …

-linked mortgage-market data, we document that there is a “flypaper effect” of LSAPs, where the transmission of unconventional monetary …-eligible mortgage originations significantly more than the origination of GSE-ineligible mortgages. In contrast, QE2's focus on … Treasuries) during QE1 resulted in an additional $600 billion of refinancing, substantially reducing interest payments for …

monetary policy through its effects on mortgage refinancing. Using detailed loan-level data, we show that regional differences … refinancing with both mortgage borrowers and lenders and use it to explore the aggregate implications for monetary policy arising … in housing equity affect refinancing and spending responses to interest rate cuts but that these effects vary over time …