Since the price peak in 2006, home values have fallen more than 30%, leaving millions of Americans with negative equity in their homes. Until the Supreme Court's 1993 decision in Nobelman v. American Savings Bank, the bankruptcy system would have provided many such homeowners with a remedy. They...

Las permutas de cobertura frente al riesgo de variación de los tipos de interés bancarios en préstamos hipotecarios se han convertido en área de litigio entre las entidades de crédito y sus clientes. El artículo describe el estado jurisprudencial de la cuestión, destilando los principales...

One of the biggest risks arising from financial operations is the risk of counterparty default, commonly known as a credit risk. Leaving unmanaged, the credit risk would, with a high probability, result in a crash of a bank. In our paper, we will focus on the credit risk quantification...