that a mortgage modification program aimed at limiting foreclosures that fails to take into account private debt …

This paper studies the effects of mortgage subsidies and imperfect competition in the U.S. mortgage market. I exploit … relationship between mortgage subsidies, intermediary lenders' market power, and borrower's advantageous selection. The model shows … that mortgage subsidies enable advantageous selection, creating a deadweight loss of $7.90 billion. Counterfactual analysis …

amongst mortgage lenders and adds the idea of lender competition into this framework. Despite this addition, the results are … loans, selling most of their mortgages and making less profit off each mortgage while concentrated lenders do the opposite …

Do lemon problems distort trade on secondary mortgage markets? In this paper, I present new evidence that they do … document a systematic positive link between distance and the mortgage sale rate. Mortgage securitization encourages lending at … market where the GSEs are barred from purchasing mortgages). Moreover, I show that mortgage sale rates dropped following the …

.S. residential mortgage market. I explore how asymmetric information, transaction costs and aid generosity associated with granting … debt relief affect mortgage foreclosure outcomes. To disentangle these mechanisms, I introduce a structural model in which …

We ask whether the correlation between mortgage leverage and default is due to moral hazard (the causal effect of …

market as a laboratory, with processing time serving as a measure of screening effort. In line with the theory, mortgage … positive relationship between screening effort and the delay of sale. We test this theoretical prediction using the mortgage … delay of sale are negatively related to conditional mortgage default, even though mortgages with higher ex ante credit risk …