Academic research, government inquiries, and press accounts show extensive mortgage fraud during the housing boom of … the mid-2000s. We explore a particular type of mortgage fraud: the overstatement of income on mortgage applications. We … define “income overstatement” in a zip code as the growth in income reported on home-purchase mortgage applications minus the …

This paper examines mortgage outcomes for a large, representative sample of individual home purchases and refinances …

mortgage credit risk by Fannie Mae and Freddie Mac. We find that lenders charge Latinx/African-American borrowers 7.9 and 3 …

This paper examines how high cost mortgage lending varies by race and ethnicity. It uses a unique panel data that … loans for African-American and Hispanic borrowers even after controlling for key mortgage risk factors: they have a 7.7 and … sorting across) mortgage lenders …

This paper explores the practice of mortgage refinancing in a dynamic competitive lending model with risky borrowers … prevents the mortgage pools from becoming disproportionately composed of the riskiest borrowers over time. Mortgages with … prepayment penalties allow lenders to lower mortgage rates and extend credit to the least creditworthy, with the largest benefits …

Empirical models of mortgage default typically find that the influence of unemployment is negligible compared to other … assigns a critical role to unemployment status in the decision to stop payment on a mortgage. We help reconcile this …