done to stop it. We use an economic model to focus on two key decisions: the borrower's choice to default on the mortgage … illustrate that "unaffordableʺ loans, defined as those with high mortgage payments relative to income at origination, are … for the low number of modifications than contract frictions related to securitization agreements between servicers and …

mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using …

covered bond market bears a number of similarities to U.S. agency securitization. In this paper we describe the key features … of the Danish mortgage finance system and compare and contrast it to the U.S. system. We also note characteristics of the … Danish model that may be of interest as the United States considers further mortgage finance reform. In particular, the …

We analyze link between mortgage-related regulatory penalties levied on banks and the level of systemic risk in the U …

) 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 …

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 …

We analyze link between mortgage-related regulatory penalties levied on banks and the level of systemic risk in the U …

asymptotically normal. Applying my estimator to the subprime mortgage crisis, I quantify what caused the foreclosure rate to triple … standards, with a 10% decline in home prices increasing subprime mortgage default rates by 50% …

financial crisis - the mortgage credit cycle and the home price cycle. In the viewpoint of mortgage lending, the main demand … (UCC) for owning between 2002-2006. UCC was, in turn, influenced by three key factors - the record low mortgage interest … as a significant shift factor in the demand side. In the supply-side, the main drivers for the boom-bust of mortgage …