Image of Securitization and Loan Performance: Ex Ante and Ex Post Relations in the Mortgage

Securitization and Loan Performance: Ex Ante and Ex Post Relations in the Mortgage

This study examines the relation between securitization and loan performance using a comprehensive dataset from a major national mortgage lender. Loans remaining on the bank's balance sheet ex post incurred higher delinquency rates than sold loans, contrasting the negative relation between screening efforts and ex ante probability of loan sale explored by prior studies. Moreover, the performance gap between sold and retained loans was wider among the subsample of loans that were perceived as easier to resell. The investors' seeming advantage over the originating bank can mostly be explained by information revealed during the time between loan origination and sale.

Ketersediaan
Call NumberLocationAvailable
RFS2702PSB lt.dasar - Pascasarjana1
Informasi Detail
Judul Seri
The Review of Financial Studies
No. Panggil
RFS2702
Penerbit
Oxford : Oxford University Press.,
Deskripsi Fisik
661 p.
Bahasa
English
ISBN/ISSN
1465-7368
Klasifikasi
NONE
Tipe Isi
text
Tipe Media
-
Tipe Pembawa
-
Edisi
Vol. 27 No. 2, Feb 2014
Subjek
Finance
Info Detail Spesifik
The Review of Financial Studies
Pernyataan Tanggungjawab
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Tidak tersedia versi lain

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