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