We provide new evidence that credit supply shifts contributed to the U.S. subprime mortgage boom and bust. We collect … original data on both government and private mortgage insurance premiums from 1999-2016, and document that prior to 2008 … flat premium structure, which necessarily resulted in safer mortgages cross-subsidizing riskier ones, produced substantial …

A PowerPoint presentation, Mortgage Crisis led to Credit and Illiquidity Crisis, delineates the key factors which the … author believes enabled the contagious-but-confinable risks of the mortgage crisis to spread to the entire financial market … system was a catalyst to the credit and illiquidity crisis. This presentation was designed as a sequel to "The Mortgage …

underperformance (high mortgage defaults and losses and large rating downgrades) among deals with observably higher risk mortgages …We study credit ratings on subprime and Alt-A mortgage-backed-securities (MBS) deals issued between 2001 and 2007, the … period leading up to the subprime crisis. The fraction of highly rated securities in each deal is decreasing in mortgage …

underperformance (high mortgage defaults and losses and large rating downgrades) among deals with observably higher risk mortgages …We study credit ratings on subprime and Alt-A mortgage-backed-securities (MBS) deals issued between 2001 and 2007, the … period leading up to the subprime crisis. The fraction of highly rated securities in each deal is decreasing in mortgage …

We analyze the determinants of real estate and credit bubbles using a unique borrower-lender matched dataset on … mortgage loans in Spain. The dataset contain real estate credit and price conditions (loan principal and spread, and the … appraisal and market price) at the mortgage level, matched with borrower characteristics (such as income, labor status and …