We analyze mortgage lenders' behavior with respect to shale gas risk during the period of the U.S. shale gas boom … scrutiny, to $3,137, or 1.6% of profit earned on an average mortgage, afterwards. Our approach provides an alternative to the … decisions of mortgage professionals …

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 … attenuation bias in loan-level estimations of default risk due to a borrower becoming unemployed. Attenuation bias results because …

In the current structure of the U.S. residential mortgage market, a fall in property values may make it very difficult … institutional background for this effect and quantify its importance. We confirm that this form of collateral constraint has greatly … institutional changes could have neutralized the damaging effects of the collateral constraints, and we discuss why the institutions …

careful examination of collateral. As this examination is more valuable when collateral backs projects with low productivity …

unique design reflecting the subprime mortgage design. Subprime securitization tranches were often sold to CDOs, which were …

collateral is scarce, regional consumption growth is about twice as sensitive to income growth. Household-level borrowing … frictions can explain this new stylized fact. When the value of housing relative to human wealth falls, loan collateral shrinks …

The prepayment behavior of home mortgage borrowers has been widely observed to be inconsistent with behavior implied by … mortgage and on the historic path of interest rates in attempting to explain the anomaly. This paper offers contributions to … behavior, using both householder characteristics and collateral (house) value. Second, it empirically recognizes important …

We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using … typically confound analyses of the collateral channel. We find that a $30,000 increase in credit availability led to a 12 basis …