) explicit modelling of repayment and interest-only CWMs; (b) closed form formulae for mortgage payment and mortgage balance of a … repayment CWM; (c) a closed form formula for the actuarially fair mortgage rate of an interest-only CWM. For repayment CWMs we …

) explicit modelling of repayment and interest-only CWMs; (b) closed form formulae for mortgage payment and mortgage balance of a … repayment CWM; (c) a closed form formula for the actuarially fair mortgage rate of an interest-only CWM. For repayment CWMs we …

conditions required by the banking system to grant a mortgage. The authors find that easier access to credit inflates housing …

This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit … households’ creditworthiness conditions required by banks in order to grant a mortgage. Results show that easier access to credit …

The late 1990s through the mid-2000s was a period of historic growth in mortgage lending and house prices and there is … with the view that the house price boom was caused by an expansion in the supply of mortgage credit, primarily benefiting … borrowers and neighborhoods which previously had the most limited access to mortgage credit. In particular, the evidence can be …

How did pricing for mortgage credit risk change during the years prior to the 2008 financial crisis? Using a database … from a major American bank that served as trustee for private-label mortgage-backed securitized (PLS) loans, this paper … risk factors, FICO score and loan-to-value ratios, have less of an impact on mortgage pricing over time. As the volume of …

This paper reviews recent research on mortgage default, focusing on the relationship of this research to the recent … explicitly addressing reverse causality between rising foreclosures and falling house prices. Mortgage defaults were also a key … researchers to explore the central unsolved question in this area: why mortgage default is so rare, even for households with high …

An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002 … purchase mortgages to subprime borrowers. We also document that the expansion in speculative mortgage products and underwriting …

The dramatic expansion in subprime mortgage credit fueled a remarkable boom and bust in the US housing market and … created a global financial crisis. Even though considerable research examines the housing and mortgage markets during the … previous decade, how the expansion in mortgage credit affected the rental market remains unclear; and yet, over 30 percent of …