We study the effect of mortgage prepayment penalties on borrowers' prepayments and delinquencies by exploiting a 2007 … reform in Italy that reduced penalties on outstanding mortgages and banned penalties on newly-issued mortgages. Using a … unique dataset of mortgages issued by a large Italian lender before and after the reform, we provide evidence that: 1) before …

, investors who decide whether to rent or buy a house by simply comparing monthly rent and mortgage payments do not take into … account that inflation lowers future real mortgage costs. We decompose the price-rent ratio in a rational component — meant to …

This paper studies the relationship between the recent boom and current delinquencies in the subprime mortgage market … mortgage industry mattered, with larger declines in lending standards being associated with increases in the number of … competing lenders. Finally, increased ability to securitize mortgages appears to have affected lender behaviour, with lending …

financial institutions other than banks increased their holdings in mortgages. Once can question the desirability of such strong … empirical evidence supporting the view that innovation in consumer credit and home mortgages reduced cyclical variations of key … economic variables. We find that especially the behaviour of aggregate home mortgages changed less during the great moderation …

, and mortgages among households aged fifty or more in thirteen countries, using new and comparable survey data. We employ … smaller ones in homes, and to have larger mortgages in older age, even controlling for characteristics. This is consistent …

paper describes how specialization of banks can lead to such feedback effects, which work through the cost of financial … intermediation. In the empirical part of the paper we use US cross-state data from banks' income statements to show that the cost of …

This paper examines funding modes of German banks and its implications for lending and profitability over the period … important. Third, the decreasing ability of banks to mobilize deposits from customers and the substitution of deposits by … interbank liabilities unfavourably affects the net interest results of savings banks. …

We develop a dynamic model to assess the effects of liquidity and leverage requirements on banks' insolvency risk. The … model features endogenous capital structure, liquid asset holdings, payout, and default decisions. In the model, banks face …