We investigate an unexplored link between the US mortgage spread and business cycle and house price fluctuations in … emerging market economies (EMEs). An increase in the US mortgage spread leads to substantially lower output, investment … financial channel is the main transmission mechanism through which US mortgage spread shocks affect business and house price …

purchase as posing a significant risk to mortgage lenders. In response, developed countries have adopted mortgage insurance as … mechanism is depository-based, which lacks the mortgage insurance option. This paper provides a comprehensive review of the … literature on formal mortgage tools in both developed and emerging economies and concludes that it would appear to be more …

, the unfolding sub-prime mortgage crisis highlights the risks and potential turbulence that this sector can introduce into … -- Macroeconomic Factors -- Financial Liberalization -- Technological Change -- Concerns and Opportunities -- The Effect of Mortgage … Finance on Savings -- The Effect of Mortgage Finance on Investment -- Mortgage Finance and Growth -- Housing Finance, Business …

This chapter considers the structure of mortgage finance in the U.S., and its role in shaping patterns of homeownership … the design features of mortgage contracts that distinguish them from other loans, and that have important implications for … issues presented in the rest of the chapter. We then explain how mortgage finance interacts with public policy, particularly …