𝔖 Bobbio Scriptorium
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Borrower attributes and the risk of default of conventional mortgages

✍ Scribed by Sam R. Hakim; Mahmoud Haddad

Book ID
105530692
Publisher
Springer US
Year
1999
Tongue
English
Weight
638 KB
Volume
27
Category
Article
ISSN
0197-4254

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The value of mortgage prepayment and def
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## Abstract We use an implicit alternating direction numerical procedure to estimate the value of a fixed‐rate mortgage (FRM) with embedded default and prepayment options. The value of FRMs depends on interest rates, the house value, and mortgage maturity. Our numerical results suggest that the joi