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Credit Cycle and Adverse Selection Effects in Consumer Credit Markets - Evidence from the HELOC Market
Calem, Paul S. - 2011
The authors empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, they use county-level aggregates of these loans to estimate panel...
Persistent link: https://www.econbiz.de/10013128765
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Consumer Bankruptcy, Mortgage Default and Labor Supply
Li, Wenli; Meghir, Costas; Oswald, Florian - 2022
individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …
Persistent link: https://www.econbiz.de/10013492266
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Appraising home purchase appraisals
Calem, Paul Seth; Lambie-Hanson, Lauren; Nakamura, … - 2018
Home appraisals are produced for millions of residential mortgage transactions each year, but appraised values are … institutional framework that governs mortgage lending lead to information loss in appraisals (that is, appraisals set equal to the … incidence of mortgage default at loan-to-value boundaries (notches) above which mortgage insurance rates increase. Appraisals …
Persistent link: https://www.econbiz.de/10011971156
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How big is the wealth effect? : decomposing the response of consumption to house prices
Aruoba, S. Borağan; Elul, Ronel; Kalemli-Ozcan, Sebnem - 2018
We investigate the effect of declining house prices on household consumption behavior during 2006-2009. We use an individual-level dataset that has detailed information on borrower characteristics, mortgages and credit risk. Proxying consumption by individual-level auto loan originations, we...
Persistent link: https://www.econbiz.de/10011971339
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Subprime Mortgages and the Housing Bubble
Brueckner, Jan K. - 2015
This paper explores the link between the house-price expectations of mortgage lenders and the extent of subprime …
Persistent link: https://www.econbiz.de/10013038223
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A shortage of short sales : explaining the underutilization of a foreclosure alternative
Zhang, Calvin - 2019
The Great Recession led to widespread mortgage defaults, with borrowers resorting to both foreclosures and short sales …
Persistent link: https://www.econbiz.de/10012058841
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Leaving households behind : institutional investors and the U.S. housing recovery
Lambie-Hanson, Lauren; Li, Wenli; Slonkosky, Michael - 2018
Ten years after the mortgage crisis, the U.S. housing market has rebounded significantly with house prices now near the …
Persistent link: https://www.econbiz.de/10011971271
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Institutional investors and the U.S. housing recovery
Lambie-Hanson, Lauren; Li, Wenli; Slonkosky, Michael - 2019
mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using …
Persistent link: https://www.econbiz.de/10012197788
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Foreclosures and House Price Dynamics : A Quantitative Analysis of the Mortgage Crisis and the Foreclosure Prevention Policy
Chatterjee, Satyajit; Eyigungor, Burcu - 2019
The authors construct a quantitative equilibrium model of the housing market in which an unanticipated increase in the supply of housing triggers default mortgages via its effect on house prices. The decline in house prices creates an incentive to increase the consumption of housing space, but...
Persistent link: https://www.econbiz.de/10014203109
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Financial consequences of identity theft : evidence from Consumer Credit Bureau records
Blascak, Nathan; Cheney, Julia; Hunt, Robert M.; … - 2018
This paper examines how a negative shock to the security of personal finances due to severe identity theft changes consumer credit behavior. Using a unique data set of consumer credit records and alerts indicating identity theft and the exogenous timing of victimization, we show that the...
Persistent link: https://www.econbiz.de/10011971286