Have community banks reduced home foreclosure rates?
Compared with mortgage brokers and universal banks, community banks have stronger incentives to originate high-quality residential home loans. Using the RealtyTrac database on residential foreclosures between 2005 and 2008, we show that county-level foreclosure rates are lower in counties with greater community bank presence. This finding is robust to a host of county-level economic and demographic control variables and after controlling for possible endogeneity of community bank presence.
Year of publication: |
2011
|
---|---|
Authors: | Fogel, Kathy ; Kali, Raja ; Yeager, Tim |
Published in: |
Journal of Banking & Finance. - Elsevier, ISSN 0378-4266. - Vol. 35.2011, 9, p. 2498-2509
|
Publisher: |
Elsevier |
Keywords: | Subprime mortgage loans Community banks Foreclosures Relationship lending Mortgage brokers |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Have community banks reduced home foreclosure rates?
Fogel, Kathy, (2011)
-
Have community banks reduced home foreclosure rates?
Fogel, Kathy, (2011)
-
Yeager, Tim, (1998)
- More ...