Much attention has been paid to the large decreases in value of non-agency residential mortgage-backed securities (RMBS …

We characterize the large number of mortgage offers for which people qualify in the United Kingdom. Very few pick the … dispersion in the mortgage menu is consistent with banks price discriminating for borrowers who might pick poorly, while …

We study the role of brokers in selection markets. We find broker-clients in the Canadian mortgage market are … estimate a model of mortgage demand to disentangle three possible explanations for these riskier product choices: (i) selection …

asymptotically normal. Applying my estimator to the subprime mortgage crisis, I quantify what caused the foreclosure rate to triple … standards, with a 10% decline in home prices increasing subprime mortgage default rates by 50% …

Under-refinancing limits the transmission of accommodative monetary policy to the household sector and costs mortgage … likelihood mortgage holders are attentive by over 60%, from 24% to 39%. A conservative back-of-the-envelope cost …

We study links between the labor market for loan officers and access to mortgage credit. Using novel data matching the … (near) universe of mortgage applications to loan officers, we find that minorities are significantly underrepresented among … loan officers. Minority borrowers are less likely to complete mortgage applications, have completed applications approved …

We build a model of optimal fixed-rate mortgage refinancing with fixed costs and inattention and derive a new …