payments. Consistent with the theory that lenders are pricing in the risk of principal modification, interest rate increases …

This article compares default patterns among prime and subprime mortgages, analyzes the factors correlated with default … that were closer to the actual default experience for loans originated in 2006 and 2007. However, for prime loans one would …

-level loan data and estimated default likelihood for listed companies. We find that, with the progress of market …-oriented financial reforms, banks generally require compensation for their exposure to borrowers' default risks. More so if the borrower …, bank lending rates are less sensitive to the default risks of state-owned enterprises (SOEs). Our results also reveal that …