Subordination is designed to provide credit risk protection for senior commercial mortgage-backed securities (CMBS …

for housing, low interest rates, innovations in mortgage lending and securitization, and a breakdown in credit quality …The US financial system is undergoing a painful restructuring as credit losses originating in the mortgage finance …

lending" and describing the process of securitization, it argues that securitizing subprime loans has many dangers. While some … have claimed that securitizing loans lowers loan costs to borrowers, the reverse might be true and securitization may … actually increase the costs of loans to borrowers. This testimony states that securitization undermines loan underwriting. As …

We study whether and how corporate loan securitization through collateralized loan obligations (CLOs) has changed the … business from the same borrower. The new loans from this securitization-funded relationship lender, when compared to loans from … securitized. Our results suggest that lending relationship is impaired as securitization weakens monitoring efforts and reduces …

We study whether and how corporate loan securitization through collateralized loan obligations (CLOs) has changed the … business from the same borrower. The new loans from this securitization-funded relationship lender, when compared to loans from … securitized. Our results suggest that lending relationship is impaired as securitization weakens monitoring efforts and reduces …

Did private mortgage securitization contribute causally to the recent subprime lending boom, or was it simply a … in total originations of affected mortgage types following the change, suggesting that securitization played a causal … role in fueling mortgage expansion. We also, however, find suggestive evidence for an increase in mortgages held on books …

This study analyses the level of systematic risk for US mortgage portfolio securitisationsbased on the variation of …

We estimate a competing risk model of mortgage terminations on samples of UK securitised subprime mortgages. Given the … issues involving initial mortgage choices and dynamic selection over time. We estimate the characteristics of the unobserved …

This paper examines the contrasting influence of portfolio lending and securitization in the resolution of distressed … commercial mortgage market …