#2186. Do investors value frequent issuers in securitization?

July 2026publication date
Proposal available till 30-05-2025
5 total number of authors per manuscript5020 $

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Journal’s subject area:
Economics, Econometrics and Finance (all);
Finance;
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Abstract:
We assess the value of frequent issuers to investors in securitization markets by examining the initial yield spread of European mortgage-backed securities (MBS), covering a 20-year period between 1999 and 20XX. We find that frequent issuers have certification value. We find that after the great financial crisis (GFC), investors began to attribute more value to frequent issuers, regardless of MBS credit quality.
Keywords:
Bank-borrower distance; MBS pricing; Rating shopping; Securitization

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