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Neglected Risks in the Communication of Residential Mortgage-Backed Securities Offerings

Zhang, Harold H.; Zhao, Feng; Zhao, Xiaofei - 2023

Examining the contractual disclosures during the sale of private-label residential mortgage-backed securities (RMBS …

Persistent link: https://www.econbiz.de/10014254467

Certainty of Title : Perspectives after the Mortgage Foreclosure Crisis on the Essential Role of Effective Recording Systems

Kochan, Donald J. - 2013

of such systems in providing certainty of title, and takes a tour through the mortgage foreclosure crisis to see where …

Persistent link: https://www.econbiz.de/10013084577

Breakeven Determination of Loan Limits for Reverse Mortgages Under Information Asymmetry

Pu, Ming - 2014

Since the loan limit of a reverse mortgage is a major concern for the borrower as well as the lender, this paper … crucial determinants for reverse mortgage loan limits, such as initial housing price, expected housing price growth, house … mortgage lenders' informational advantage over reverse mortgage borrowers concerning housing market risk. In reverse mortgage …

Persistent link: https://www.econbiz.de/10013056559

Reverse Mortgage Demographics and Collateral Performance

Davidoff, Thomas - 2014

Home Equity Conversion Mortgage (HECM) data seem to confirm two concerns about these federally insured loans offered to …

Persistent link: https://www.econbiz.de/10013058286

Do Reverse Mortgage Borrowers Use Credit Ruthlessly?

Davidoff, Thomas - 2014

Home Equity Conversion Mortgages ("HECMs") offer older US homeowners liquidity and implicit home price insurance. If borrowers' homes are worth less than their loan balance when they move or die, their liability is limited to collateral value. The Federal Housing Administration ("FHA") absorbs...

Persistent link: https://www.econbiz.de/10013063691

Loan Modifications and the Commercial Real Estate Market

Glancy, David; Kurtzman, Robert J.; Loewenstein, Lara - 2022

Banks modify more CRE loans than CMBS, contributing to better loan performance when property incomes decline. However, banks have higher delinquency rates for less-stressed loans, consistent with modification policies encouraging strategic default. Motivated by these facts, we develop a tradeoff...

Persistent link: https://www.econbiz.de/10013293010

Recourse as Shadow Equity : Evidence from Commercial Real Estate Loans

Glancy, David; Kurtzman, Robert J.; Loewenstein, Lara; … - 2021

We study the role that recourse plays in the commercial real estate loan contracts of the largest U.S. banks. We find that recourse is valued by lenders and is treated as a substitute for conventional equity. At origination, recourse loans have rate spreads that are at least 20 basis points...

Persistent link: https://www.econbiz.de/10013309919

Recourse as Shadow Equity : Evidence from Commercial Real Estate Loans

Loewenstein, Lara; Glancy, David; Kurtzman, Robert J.; … - 2021

We study the role that recourse plays the in commercial real estate loan contracts in the portfolios of the largest US banks. We find that recourse is valued by lenders and is treated as a substitute for conventional equity. At origination, recourse loans receive loan rate spreads that are at...

Persistent link: https://www.econbiz.de/10013211571

The demand for long-term mortgage contracts and the role of collateral

Liu, Lu - 2023

Long-term fixed-rate mortgage contracts protect households against interest rate risk, yet most countries have … fixation length tracks the life-cycle decline of credit risk in the mortgage market: the loan-to-value (LTV) ratio decreases … using shorter-term contracts. To quantify demand for long-term contracts, I develop a life-cycle model of optimal mortgage …

Persistent link: https://www.econbiz.de/10014309040

Loan Modifications and the Commercial Real Estate Market

Glancy, David; Kurtzman, Robert J.; Loewenstein, Lara - 2022

Persistent link: https://www.econbiz.de/10013403067