policies could increase the cost of credit in the mortgage market. We explore this using historical variation in federal …

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 …

The sharp fall of property prices after the Asian financial crisis has led many residential mortgage holders in Hong … probability of default on mortgage loans, which is an important issue in view of the fact that residential mortgage lending …) as a major determinant for mortgage default decisions. It also finds that the default probability is positively …