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Home foreclosure rates have risen in the United States to the highest levels since the Great Depression. With house … projected to go even higher. While most of the time a foreclosure is a suboptimal resolution of a distressed mortgage, a number … that the key problem is a combination of negative housing equity and unaffordable debt service, and a successful loan …
Persistent link: https://www.econbiz.de/10011245863
This paper reviews the Mexican experience with the securitization of residential mortgages. It highlights the key legislative and institutional reforms leading to the development of primary and secondary mortgage markets and reports the main features and valuation practices of the RMBS markets....
Persistent link: https://www.econbiz.de/10005248322
This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying...
Persistent link: https://www.econbiz.de/10005769083
We implement a three-step procedure to assess the extent of exposure to real estate in commercial banks. First, we demonstrate interest rates and income to be the major determinants of delinquency. Then, we adopt a stress testing approach to calculate the impact of any adverse changes in these...
Persistent link: https://www.econbiz.de/10008541450
Klyuev (2008) concluded that the Canadian market for housing finance is highly advanced and sophisticated, but …
Persistent link: https://www.econbiz.de/10008528667
Despite some of the positive news in housing markets, the rate of mortgage foreclosures and delinquencies in Texas is … on a sharp incline. This issue of e-Perspectives provides a list of foreclosure resources. …
Persistent link: https://www.econbiz.de/10008616975
Problems in the housing sector have prompted research into the causes of default by borrowers. The terms of the loans …
Persistent link: https://www.econbiz.de/10008764403
Spain’s housing boom was supported by rapid economic expansion, strong employment growth, an immigration boom, and … 2010, employment and value added in construction are projected to halve as peak housing starts are completed. The …, housing market cyclicality could be reduced by fading out generous home ownership incentives. …
Persistent link: https://www.econbiz.de/10011243185
This paper studies the impact of housing market cycles on loss given default (LGD). Previous studies have shown that …
Persistent link: https://www.econbiz.de/10008560443
Using detailed information on lobbying and mortgage lending activities, we find that lenders lobbying more on issues related to mortgage lending (i) had higher loan-to-income ratios, (ii) securitized more intensively, and (iii) had faster growing portfolios. Ex-post, delinquency rates are higher...
Persistent link: https://www.econbiz.de/10008561076