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Aggregate and Distributional Impacts of LTV Policy : Evidence from China's Micro Data
Chen, Kaiji - 2020
-primary houses fueled the entire mortgage boom during 2014Q4-2016Q3. The mortgage expansion disproportionately increased the share of … mortgage markets. Our cross-city evidence provides empirical support for this channel …
Persistent link: https://www.econbiz.de/10012482311
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Bank Funding Risk, Reference Rates, and Credit Supply
Cooperman, Harry; Duffie, Darrell; Luck, Stephan; Wang, … - National Bureau of Economic Research - 2023
Corporate credit lines are drawn more heavily when funding markets are more stressed. This covariance elevates expected bank funding costs. We show that credit supply is dampened by the associated debt-overhang cost to bank shareholders. Until 2022, this impact was reduced by linking the...
Persistent link: https://www.econbiz.de/10014226104
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Bank funding risk, reference rates, and credit supply
Cooperman, Harry R.; Duffie, Darrell; Yang, Yilin; … - 2023
Persistent link: https://www.econbiz.de/10014246457
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Machine Learning for Solar Accessibility : Implications for Low-Income Solar Expansion and Profitability
Davuluri, Sruthi - 2019
The solar industry in the US typically uses a credit score such as the FICO score as an indicator of consumer utility payment performance and credit worthiness to approve customers for new solar installations. Using data on over 800,000 utility payment performance and over 5,000 demographic...
Persistent link: https://www.econbiz.de/10012480230
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Searching for Approval
Agarwal, Sumit - 2020
details search behavior for a large sample of mortgage borrowers, with loan application and rejection decisions. Our data … reveal substantial dispersion in mortgage rates and search intensity, conditional on observables. However, in contrast to …
Persistent link: https://www.econbiz.de/10012481535
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Fraudulent Income Overstatement on Mortgage Applications during the Credit Expansion of 2002 to 2005
Mian, Atif R. - 2015
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 …
Persistent link: https://www.econbiz.de/10012457719
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The Effectiveness of Mandatory Mortgage Counseling : Can One Dissuade Borrowers from Choosing Risky Mortgages?
Agarwal, Sumit - 2014
We explore the effects of mandatory third-party review of mortgage contracts on consumer choice--including the terms … and demand for mortgage credit. Our study is based on a legislative pilot carried out by the State of Illinois in a … selected set of zip codes in 2006. Mortgage applicants with low FICO scores were required to attend loan reviews by financial …
Persistent link: https://www.econbiz.de/10012458745
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Collateral Valuation and Borrower Financial Constraints : Evidence from the Residential Real Estate Market
Agarwal, Sumit - 2013
Financially constrained borrowers have the incentive to influence the appraisal process in order to increase borrowing or reduce the interest rate. We document that the average valuation bias for residential refinance transactions is above 5%. The bias is larger for highly leveraged...
Persistent link: https://www.econbiz.de/10012459056
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The Vulnerability of Minority Homeowners in the Housing Boom and Bust
Bayer, Patrick - 2013
This paper examines mortgage outcomes for a large, representative sample of individual home purchases and refinances …
Persistent link: https://www.econbiz.de/10012459643
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Unemloyment and Unobserved Credit Risk in the FHA Single Family Mortgage Insurance Fund
Gyourko, Joseph - 2013
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 …
Persistent link: https://www.econbiz.de/10012459781