A model of mortgage defaults is built into the standard incomplete markets model. Households face income and house … the risk of default. The model accounts for the observed patterns of housing consumption, mortgage borrowing, and defaults …. Default-prevention policies are evaluated. The mortgage default rate, housing demand, households' ability to self-insure, and …

individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …

financial institution foreclosure activities. This is one of many proposed directives for addressing the current mortgage …

This paper investigates the impact of recourse on the workout process of portfolio commercial mortgage loans. A … generalized model of mortgage workout with stochastic property value appreciation is developed and closed form expressions are …

Some homeowners might intentionally skip mortgage payments that they can afford to be eligible for mortgage … modification programs, such as Home Affordable Mortgage Program (HAMP). We use a natural experiment to investigate such strategic …

The existing literature on mortgage default and foreclosure largely examines the development of mortgage problems (the … incomplete picture of the development and possible resolution of mortgage problems. This paper uses the proprietary geo … transitional probability equations are estimated: the likelihood of homeowners developing mortgage payment problems, the likelihood …

The Dodd-Frank Act tasks regulators with defining a Qualified Residential Mortgage (QRM) as an exemption from risk … retention for residential mortgage-backed securities. Congress instructs regulators to consider factors that result in lower … implications for current and future policy on residential mortgage securitization, risk retention, and disclosure …