2007 | OriginalPaper | Buchkapitel
Default and Prepayment Risk in Residential Mortgage Loans: A Review and Synthesis
verfasst von : Michael LaCour-Little
Erschienen in: Household Credit Usage
Verlag: Palgrave Macmillan US
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How long will payments under a residential mortgage loan continue? This question is central to pricing mortgages and mortgage-backed securities, now one of the largest sectors of the bond market. In this chapter, I review the research, identify major themes, and attempt a synthesis: what do we know and what do we not know?