This paper reviews recent research on mortgage default, focusing on the relationship of this research to the recent … explicitly addressing reverse causality between rising foreclosures and falling house prices. Mortgage defaults were also a key … researchers to explore the central unsolved question in this area: why mortgage default is so rare, even for households with high …

At their peak in 2005, roughly 60 percent of all purchase mortgage loans originated in the United States contained at … house prices and non-traditional features of mortgage contracts. We apply a break-point methodology and find that in housing … findings support the view that a change in mortgage contract availability and a shift toward subprime borrowers helped to fuel …

conditions required by the banking system to grant a mortgage. The authors find that easier access to credit inflates housing …

This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit … households’ creditworthiness conditions required by banks in order to grant a mortgage. Results show that easier access to credit …