September 26, 2006

Mortgage

Borrower credit and the valuation of mortgage-backed securities.
Real Estate Economics
We study the valuation of mortgage-backed securities when borrowerstraditional models. Furthermore, mortgage values can exceed par by much morethe model to an extensive sample of mortgage-backed security prices, we find that

Federal Home Loan Bank Mortgage purchases: implications for mortgage m…
Economic Review (Atlanta, Ga.)
stock of mortgages held on thethe FHLB mortgage programsthe various mortgage programsconforming mortgage market, andsecondary mortgage market orfunding for mortgage loans. Asbillion) and mortgage loans ($61Although mortgages are onlyof their

The effect of housing government-sponsored enterprises on mortgage rat…
Real Estate Economics
theoretical model of how jumbo and conforming mortgage rates are determined and how the jumbo-conforming spread might arise. We show that mortgage rates reflect the cost of funding mortgages and that this cost of funding can drive a

Delivering cheaper mortgage money.
Mortgage Banking
As mortgage bankers took over a growing share of the mortgage market during the 1980s, mortgage costs were driven down. The operating style of mortgage banking helped deliver mortgage money that increasingly tracked the cost of money in the global

The Effects of Securitization on Consumer Mortgage Costs.
Real Estate Economics
market for mortgage loans wouldnonconforming mortgages has balloonedzeropoint mortgages. An increasezero-point mortgages will likelyzero-point mortgages or otherzero-point mortgages availablecompetition among mortgage lendersand 1994, mortgage

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