The demand for mortgage debt and the income tax

JR Follain, RM Dunsky - Journal of Housing research, 1997 - JSTOR
… increase from (1 - ty)rm to rm, where ty is the marginal tax rate of the household and rm is
the interest rate on mortgage debt. The cost of equity finance would remain equal to the …

Tax‐induced portfolio reshuffling: The case of the mortgage interest deduction

RM Dunsky, JR Follain - Real Estate Economics, 2000 - Wiley Online Library
… is the cost of consumer credit, rm is the cost of mortgage debt and rc is the return on equity,
tv is the marginal tax rate on income, and т„, and т(. are the tax rates at which mortgage …

[PDF][PDF] Impacts of down payment underwriting standards on loan performance-evidence from the GSEs and FHA portfolios

K Lam, RM Dunsky, A Kelly - Federal Housing Finance Agency Working …, 2013 - fhfa.gov
Policy discussions are increasingly focused on a return to more conservative mortgage
underwriting standards. This study explores the relationship between down payment (loan-to-…

Valuing fixed rate mortgage loans with default and prepayment options

RM Dunsky, TSY Ho - The Journal of Fixed Income, 2007 - search.proquest.com
There are three integral components to value a fixed rate mortgage loan: 1) the mortgagors'
American straddle option on the underling loan,(a call option to refinance and a put option to …

Intertemporal substitution, money, and aggregate labor supply

DH Dutkowsky, RM Dunsky - Journal of Money, Credit and Banking, 1996 - JSTOR
THE INTERTEMPORAL SUBSTITUTION HYPOTHESIS (ISH) stands as one of the central
theories of labor supply. Card (1991) states that the life cycle model of hours choice has …

Pricing Credit Risk for Mortgages: Credit Risk Spreads and Heterogeneity across Housing Markets

RM Dunsky, JR Follain, SH Giertz - Real Estate Economics, 2021 - Wiley Online Library
We develop a Monte Carlo procedure to project MSA‐level house‐price paths from 2013 to
2023. These price paths are applied to a fixed portfolio of synthetic mortgages in order to …

[PDF][PDF] FHFA mortgage analytics platform

RM Dunsky, X Zhou, M Kane, M Chow… - FHFA Research …, 2014 - advisorselect.com
The Federal Housing Finance Agency (FHFA) maintains a proprietary Mortgage Analytics
Platform to support the Agency’s strategic plan. The objective of this white paper is to provide …

The demand for home mortgage debt and the income tax

JR Follain, RM Dunsky - 1996 - surface.syr.edu
… For households who currently deduct mortgage interest, the cost of debt finance would
increase from (1- t y)rm to r m , where ty is the marginal tax rate of the household and rm is the …

Liquidity constraints with endogenous income

Y Zhao, DH Dutkowsky, RM Dunsky - Economic Inquiry, 1999 - Wiley Online Library
This article examines liquidity constraints within the household's intertemporal model with
nonseparable consumption and leisure. The model includes wage income in the minimum …

Estimating the liquidity of M2 components in the post‐DIDMCA era

DH Dutkowsky, RM Dunsky - Economic Inquiry, 1998 - Wiley Online Library
… Using equation (6) within an intertemporal substitution model with money, Dutkowsky and
Dunsky [I9961 obtain estimates of the structural parameters which are significant and conform …