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We study the effects of securitization on renegotiation of distressed residential mortgages over the current financial …-modification default rates by 9% (3.5% in absolute terms). Our findings support the view that frictions introduced by securitization create …
Persistent link: https://www.econbiz.de/10010292147
by differences in borrower population. Consistent with the idea that securitization induces agency conflicts, we confirm …
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We assess the credit market impact of allowing mortgage "strip-down" as a foreclosure-prevention measure, where strip-down reduces the principal of underwater residential mortgages to the current market value of the property for homeowners in Chapter 13 bankruptcy. Our identification is provided...
Persistent link: https://www.econbiz.de/10010337629
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We study the effects of securitization on renegotiation of distressed residential mortgages over the current financial …-modification default rate by 9% (3.5% in absolute terms). Our findings support the view that frictions introduced by securitization create …
Persistent link: https://www.econbiz.de/10013131514
We assess the credit market impact of allowing mortgage “strip-down” as a foreclosure-prevention measure, where strip-down reduces the principal of underwater residential mortgages to the current market value of the property for homeowners in Chapter 13 bankruptcy. Our identification is...
Persistent link: https://www.econbiz.de/10013054958