Asset Securitization and Optimal Retention

Asset Securitization and Optimal Retention
This paper builds on recent research by Fender and Mitchell (2009) who show that if financial institutions securitize loans, retaining an interest in the equity tranche does not always induce the securitizer to diligently screen borrowers ex ante. We first determine the conditions under which this scenario becomes binding and further illustrate... READ MORE...

Publication date: March 2010
ISBN 9781451982176
$18.00

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