We develop a unified model of mortgage and servicer contracts. Renegotiating mortgage
contracts following default is strictly Pareto improving, if the lender gathers updated …

The SPV (special purpose vehicle) is one of the key components of the securitization in both
Islamic and conventional finance; however the details of how the transactions are …

The real estate investment management industry has been undergoing a process of change
over the last two decades. The market is far more transparent than it once was due to the …

Though securitization of microloans started in 2009, it has been growing in size and
numbers. It is an innovative way of supporting microfinance which has come under pressure …

China's financial system is significantly affected by official credit supply restrictions and
credit allocation incentive structures. Both aspects distort the market mechanism for credit …

The financial crisis of 2007–2009 was triggered by declining housing prices and propagated
by securitisation. Combined with high mortgage loan balances, falling housing prices in the …

This paper examines the risk retention issue of security design in the context of commercial
mortgage backed security (CMBS) markets. Focusing on the role of the B-piece investor, we …

There is evidence of irrationality and repeated errors in judgement by individual investors,
corporate investors and corporate agents in their quest to invest and access external …

Mortgage securitization markets emerged as an extension of the primary mortgage lending
markets. This created the need for standardization of information across these two contexts …

In Vietnam, the international economic integration has led to an increase in demand for
capital. The capital market of Vietnam is considered modest in terms of size and liquidity in …