Showing 1 - 10 of 307
Persistent link: https://www.econbiz.de/10009242233
Persistent link: https://www.econbiz.de/10003848938
Persistent link: https://www.econbiz.de/10003545144
We demonstrate that asymmetric information between sellers (loan originators) and purchasers (investors and securities issuers) of commercial mortgages gives rise to a standard “lemons problem”, whereby portfolio lenders use private information to liquidate lower quality loans in CMBS...
Persistent link: https://www.econbiz.de/10013133403
We document changes in borrowers' sensitivity to negative equity and show heightened borrower default propensity as a fundamental driver of crisis period mortgage defaults. Estimates of a time-varying coefficient competing risk hazard model reveal a marked run-up in the default option beta from...
Persistent link: https://www.econbiz.de/10012855582
Persistent link: https://www.econbiz.de/10012434689
We provide new evidence of cyclical variation in mortgage default option exercise. For a given level of negative equity, borrower propensity to default rose markedly during the financial crisis and in hard-hit metropolitan areas. Analysis of time-series and panel data indicates the importance of...
Persistent link: https://www.econbiz.de/10013047148
We investigate the impact of 2020 COVID-19 rental eviction moratoria on household well-being. Analysis of new panel data indicates that eviction moratoria reduced evictions and resulted in redirection of scarce household financial resources to immediate consumption needs, notably including food...
Persistent link: https://www.econbiz.de/10013235025
Persistent link: https://www.econbiz.de/10012601588
Persistent link: https://www.econbiz.de/10014445470