Nominal loss aversion, housing equity constraints, and household mobility: evidence from the United States
GV Engelhardt - Journal of urban Economics, 2003 - Elsevier
This paper exploits the recent variation in US house prices to examine the effect of equity
constraints and nominal loss aversion on household mobility. Detailed data from the 1985 …
constraints and nominal loss aversion on household mobility. Detailed data from the 1985 …
What's the catch? Suspicion of bank motives and sluggish refinancing
Failing to refinance a mortgage can cost a borrower thousands of dollars. Based on
administrative data from a large financial institution, we show that around 50% of borrowers …
administrative data from a large financial institution, we show that around 50% of borrowers …
Structural change in the mortgage market and the propensity to refinance
P Bennett, R Peach, S Peristiani - Journal of Money, Credit and Banking, 2001 - JSTOR
We hypothesize that the intrinsic benefit required to trigger a refinancing has become
smaller, due to a combination of technological, regulatory, and structural changes that have …
smaller, due to a combination of technological, regulatory, and structural changes that have …
Financial illiteracy and mortgage refinancing decisions
Highlights•We study the effect of a reform abolishing prepayment fees and simplifying
mortgage refinancing in Italy.•Although important gains were in place, only 13% of fixed-rate …
mortgage refinancing in Italy.•Although important gains were in place, only 13% of fixed-rate …
Foreign banks, profits and commercial credit extension in the United States
P Molyneux, R Seth - Applied Financial Economics, 1998 - Taylor & Francis
The determinants of foreign bank profitability and commercial credit extension in the United
States between 1987 and 1991 are simultaneously modelled. Overall the results indicate …
States between 1987 and 1991 are simultaneously modelled. Overall the results indicate …
Some truths about ostriches: Who doesn't prepay their mortgages and why they don't
RK Green, M LaCour-Little - Journal of Housing Economics, 1999 - Elsevier
Prepayment estimation is essential in forecasting expected mortgage cash flow patterns.
Accordingly, mortgage and mortgage-backed security prices are highly dependent on …
Accordingly, mortgage and mortgage-backed security prices are highly dependent on …
Prepayment risk in adjustable rate mortgages subject to initial year discounts: Some new evidence
BW Ambrose, M LaCour‐Little - Real estate economics, 2001 - Wiley Online Library
This paper uses microlevel data to examine recent prepayment performance of adjustable
rate mortgages (ARMs) employing the competing risk methodology developed by Deng …
rate mortgages (ARMs) employing the competing risk methodology developed by Deng …
Another look at the role of borrower characteristics in predicting mortgage prepayments
M LaCour-Little - Journal of Housing Research, 1999 - Taylor & Francis
Mortgage prepayments are made for many different reasons, and research has been
hampered by the inability to distinguish among those reasons for prepayment. In this article …
hampered by the inability to distinguish among those reasons for prepayment. In this article …
[PDF][PDF] Money left on the kitchen table: Exploring sluggish mortgage refinancing using administrative data, surveys, and field experiments
Refinancing a mortgage is an important but complicated decision. Failing to do so optimally
can cost borrowers thousands of dollars. This paper investigates a setting where the …
can cost borrowers thousands of dollars. This paper investigates a setting where the …
Third party originators and mortgage prepayment risk: an agency problem?
M LaCour-Little, G Chun - Journal of Real Estate Research, 1999 - Taylor & Francis
We focus on an agency problem encountered by mortgage lenders and investors in
mortgage-backed securities when the underlying collateral is originated by third parties …
mortgage-backed securities when the underlying collateral is originated by third parties …