Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - In: Journal of Financial Economics 102 (2011) 3, pp. 559-578
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 …
