Explaining Mortgage Defaults Using SHAP and LASSO
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DOI: 10.1007/s10614-024-10763-6
Abstract: We utilize machine learning methods to model the credit risk of mortgages in a significant emerging market. For this purpose, we investigate a multitude of variables that explain the characteristics of the loans, the demographics… read more here.
Keywords: mortgage defaults; explaining mortgage; defaults using; mortgage ... See more keywords
On security of collateral in Danish mortgage finance: a formula of property rights, incentives and market mechanisms
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DOI: 10.1007/s10657-014-9448-x
Abstract: Specialized mortgage intermediaries in Denmark have for over 200 years provided owners and buyers of real property wide access to credit. The present paper sets out to explore the safeguards that nurtured development of a robust,… read more here.
Keywords: market; finance; mortgage; property rights ... See more keywords
Unintended Consequences of Risk Based Pricing: Racial Differences in Mortgage Costs
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DOI: 10.1007/s10693-017-0274-5
Abstract: The following analysis focuses on the role that risk pricing has had in the allocation and access to mortgage funds, specifically how it results in cost differences by race. Using a sample of fixed-rate first… read more here.
Keywords: risk; based pricing; consequences risk; risk based ... See more keywords
Methodologic Strategies for Quantifying Associations of Historical and Contemporary Mortgage Discrimination on Population Health Equity: A Systematic Review
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DOI: 10.1007/s40615-024-02137-3
Abstract: Mortgage discrimination refers to the systematic withholding of home mortgages from minoritized groups. In recent years, there has been an increase in empirical research investigating associations of historical and contemporary mortgage discrimination on contemporary outcomes.… read more here.
Keywords: mortgage discrimination; associations historical; mortgage; historical contemporary ... See more keywords
Mortgage payments and household consumption in urban China☆
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DOI: 10.1016/j.econmod.2020.07.008
Abstract: Abstract By exploiting variation both in mortgage payoffs and mortgage interest-rate resets, we find that a decline in mortgage payments induces a significant increase in nondurable goods spending, even when households have substantial amounts of… read more here.
Keywords: consumption urban; mortgage payments; mortgage; consumption ... See more keywords
Financial Literacy, Present Bias and Alternative Mortgage Products
Sign Up to like & getrecommendations! Published in 2017 at "Journal of Banking and Finance"
DOI: 10.1016/j.jbankfin.2017.01.022
Abstract: Choosing a mortgage is one of the most important financial decisions made by a household. Financial innovation has given rise to more complex mortgage products with back-loaded payments, known as ‘Alternative Mortgage Products’ (AMPs), or… read more here.
Keywords: mortgage; literacy present; present bias; mortgage products ... See more keywords
Effects of government bailouts on mortgage modification
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Banking and Finance"
DOI: 10.1016/j.jbankfin.2018.05.010
Abstract: This paper shows how liquidity infusions affect loan modification in the mortgage market. The design of pooling and servicing agreements leads mortgage servicers to prefer foreclosure over modification when they are liquidity constrained. Therefore, a… read more here.
Keywords: effects government; government bailouts; bailouts mortgage; mortgage ... See more keywords
Should I default on my mortgage even if I can pay? Experimental evidence
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DOI: 10.1016/j.jedc.2019.103733
Abstract: We study strategic default in the laboratory, i.e. in a controlled experiment. Subjects are initially endowed with a house and a mortgage (we use neutral wording in the experiment), and must decide at each period… read more here.
Keywords: default; mortgage even; default mortgage; mortgage ... See more keywords
Securitization and optimal foreclosure
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DOI: 10.1016/j.jfi.2020.100885
Abstract: Abstract Does securitization distort the foreclosure decisions of non-performing mortgages? In a model of mortgage-backed securitization with an endogenous foreclosure policy, we find that the securitizing bank adopts a tougher foreclosure policy than the first-best,… read more here.
Keywords: mortgage; foreclosure; securitization; optimal foreclosure ... See more keywords
Managerial Myopia and the Mortgage Meltdown
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DOI: 10.1016/j.jfineco.2017.03.010
Abstract: Prominent policy makers assert that managerial short-termism was at the root of the subprime mortgage crisis of 2007-2009. Prior scholarly research, however, largely rejects this assertion. Using a more comprehensive measure of CEO incentives for… read more here.
Keywords: managerial myopia; myopia mortgage; short termism; mortgage meltdown ... See more keywords
Financially constrained mortgage servicers
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DOI: 10.1016/j.jfineco.2021.09.026
Abstract: Abstract Financially constrained mortgage servicers destroyed substantial MBS investor value during the financial crisis through their management of delinquent mortgages. Servicers advance to investors monthly payments missed by borrowers. In order to minimize this obligation… read more here.
Keywords: financially constrained; mortgage; constrained mortgage; investor ... See more keywords