We build a model of the mortgage market where banks attain their optimal mortgage portfolio by setting rates and … steering customers. Sophisticated households know which mortgage type is best for them; naive households are susceptible to … implications of steering. The average cost of the distortion is equivalent to 16% of the annual mortgage payment. A financial …

borrower types and provides better pricing. We test the effectiveness of a specific set of contracts in the mortgage market …: mortgage points. Points allow borrowers to exchange an upfront amount for a decrease in the mortgage rate. We document that, on … overestimate how long they will stay with the mortgage …

This paper presents a framework for estimating losses in the residential real estate mortgage portfolios of German …-trigger hypothesis of mortgage defaults. In order to analyse the possible credit losses stemming from residential mortgage lending we … to 2020 for the whole German banking sector. Our results show that loss rates in the residential mortgage portfolios of …

almost half of purchase mortgage originations were associated with investors. In part by apparently misreporting their …

This paper looks at the relation between mortgage credit and housing values. It has become conventional wisdom in … tested as of yet. The paper uses the Johansen procedure to estimate a long run relationship between mortgage credit and … different housing price variables are estimated. It is found that mortgage credit is weakly exogenous. Impulse …

are much higher than those observed at any point in the 2000s. We describe in this paper how non-bank mortgage companies …