We document the emergence of a disconnect between mortgage and Treasury interest rates in the summer of 2003. Following … the end of the Federal Reserve's expansionary cycle in June 2003, mortgage rates failed to rise according to their … historical relationship with Treasury yields, leading to significantly and persistently easier mortgage credit conditions. We …

separately considers mortgage and non-mortgage securitization, conducts a discrete analysis of regulatory changes in … recommendations to help support the positive dynamics of mortgage lending and securitization development in the Russian Federation. …Purpose: The study is aimed not only at determining the current state of the bank asset securitization market but also …

investments. Consequently, the interbank market for mortgage securities becomes more liquid. This increases funding liquidity and … trends in a causal way. In the model, exogenous downward pressure on real interest rates increases the share of mortgage … shadow banks gain comparative advantage over regulated banks with respect to the supply of mortgage loans. In relative terms …

. -- mortgage finance ; securitization ; regression discontinuity design ; difference-in-differences …Fixed-rate mortgages (FRMs) dominate the U.S. mortgage market, with important consequences for household risk … management, monetary policy, and systemic risk. In this paper, we show that securitization is a key driver of FRM supply. Our …

Fixed-rate mortgages (FRMs) dominate the U.S. mortgage market, with important consequences for monetary policy … mortgages are difficult to securitize. Our analysis exploits plausibly exogenous variation in access to liquid securitization … markets generated by a regulatory cutoff and time variation in private securitization activity. We interpret our findings as …

government backing of the mortgage market. Nonetheless, the dominance of the crown corporation CMHC in the mortgage insurance … market concentrates a significant amount of risk in public finances. Improving competitive conditions in the mortgage …

) shocks: an increased inow of global savings into the United States, and innovations in the securitization of mortgage credit … spreads. Only innovation in securitization (direct relaxation of the securitizers' financial constraint) matches mortgage …From 2000-2006 U.S. house prices and mortgage credit grew while the relative cost of mortgage credit fell …

predict the early redemption of Term Asset-Backed Securities Loan Facility (TALF) loans used to purchase commercial mortgage …

We document the emergence of a disconnect between mortgage and Treasury interest rates in the summer of 2003. Following … the end of the Federal Reserve's expansionary cycle in June 2003, mortgage rates failed to rise according to their … historical relationship with Treasury yields, leading to significantly and persistently easier mortgage credit conditions. We …

We build a market equilibrium model of loan securitization as an alternative explanation of the cause of the recent … Financial Crisis where there was initially deteriorating loan quality but coupled with aggressive securitization, and later … information (in)accuracy. We show that securitization enhances banks' optimism in the loan market, and being optimistic is …