Since the 2007 financial crisis, the mortgage market has been renovating its tools and instruments in order to avoid a new crisis. One such innovative instrument is the participating mortgage, in which the lender gains part of the net operating income and/or future appreciation. In this paper,...

We use a linked housing transaction dataset and a personal bankruptcy dataset to study the impact of housing credit on personal bankruptcy in Singapore. Using a difference-in-differences (DD) approach, we find that an increase in housing credit increases the monthly instalment by 560-900...

We document that banking deregulation leads banks to offer lower initial rates on adjustable-rate mortgages to attract borrowers, but banks also shroud these contracts by increasing back-loaded resetting rates. More shrouding can be explained by higher proportion of naïve borrowers following...

The servicer comments are proprietary and hardly accessible; however, they can offer the single best source for real-time information of the mortgages. We utilize these comments to shed light on borrower responses to the mortgage forbearance program contained in the Coronavirus Aid, Relief, and...