This paper investigates the relationship between securitization activity and the extension of subprime credit. The … the years 2003 and 2005. Second, the securitization of subprime loans increased substantially over the same time period … securitization activity of investment banks was driven by forces exogenous to factors impacting lending decisions in the primary …

We study optimal securitization in the presence of an initial moral hazard. A financial intermediary creates and then … punishment for defaults, under which investors stop paying the intermediary after the first default. With securitization … contracts optimally designed, we find securitization improves the intermediary's screening incentives. Furthermore, the …

. Securitization strategy of lenders changed dramatically in 2007 as the crisis set in with most unwilling to retain higher …

This paper investigates whether the securitization of corporate bank loan facilities had an impact on the price of … associated with the likelihood of securitization and estimate the extent to which these characteristics are related to spreads … securitization caused a reduction in the cost of capital. …

We present a model that helps explain several past collapses of securitization markets. Originators issue too many …

-term market that provides financing for a wide range of securitization activities and financial institutions. Repo transactions … are collateralized, frequently with securitized bonds. We refer to the combination of securitization plus repo finance as …

We study the effects of securitization on renegotiation of distressed residential mortgages over the current financial … rates (3.5% in absolute terms). Our findings support the view that frictions introduced by securitization create a …