reasons, anticipating the possibility of income declines and the need to make mortgage payments in future periods. Mortgage …

mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using …

This paper explores the implications of a housing market bubble for three critical elements of mortgage contract design … reduction benefits of shorter term to contract maturity at origination for lenders of long amortization mortgage contracts. In … addition, the risks of underpricing prepayment and no recourse default options in the mortgage contract when compared with full …

have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last … stronger capital buffers. Our results suggest that there is scope for improved measures of mortgage loan risk that could be …