Participation Mortgages and the Efficiency of Financial Intermediation
(2011)
Journal Article
Ebrahim, M., Shackleton, M. B., & Wojakowski, R. M. (2011). Participation Mortgages and the Efficiency of Financial Intermediation. Journal of Banking and Finance, 35(11), 3042-3054. https://doi.org/10.1016/j.jbankfin.2011.04.008
This paper establishes a basic framework to study three different variants of Participating Mortgages (PMs). We obtain results for Shared Appreciation Mortgages (SAMs), Shared Income Mortgages (SIMs) and Shared Equity Mortgages (SEMs) in closed-form.... Read More about Participation Mortgages and the Efficiency of Financial Intermediation.