We present a dynamic structural model of subprime adjustable-rate mortgage (ARM) borrowers making payment decisions … the model using unique data sets that contain information on borrowers' mortgage payment history, their broad balance … the delinquency rates. We find that automatic modification mortgage designs under which the monthly payment or the …

The 30-year fixed-rate fully amortizing mortgage (or "traditional fixed-rate mortgage") was a substantial innovation … accumulation, many lenders require large down payments. Second, in each monthly mortgage payment, homeowners substantially …, refinancing mortgages is often very costly. We propose a new fixed-rate mortgage, called the Fixed-Payment-COFI mortgage (or …

€“expectations about the path of future house prices – affects the size and timing of provisions for first-lien residential mortgage …

Since the housing bust and financial crisis, mortgage lenders have introduced progressively higher minimum thresholds … mortgage credit reduced delinquency on both mortgage and non-mortgage debt and increased their propensity to take out auto …

have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last … stronger capital buffers. Our results suggest that there is scope for improved measures of mortgage loan risk that could be …

We provide new evidence that credit supply shifts contributed to the U.S. subprime mortgage boom and bust. We collect … original data on both government and private mortgage insurance premiums from 1999-2016, and document that prior to 2008 …