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The Role of Soft Information in a Dynamic Contract Setting : Evidence from the Home Equity Credit Market

Agarwal, Sumit - 2010

Credit underwriting is a dynamic process involving multiple interactions between borrower and lender. During this process, lenders have the opportunity to obtain hard and soft information from the borrower. We analyze more than 108,000 home equity loans and lines-of-credit applications to study...

Persistent link: https://www.econbiz.de/10013136184

Mortgage Brokers and the Effectiveness of Regulatory Oversights

Agarwal, Sumit; Ang, Swee Hoon; Deng, Yongheng; Wang, … - 2020

This paper studies the responses among different types of mortgage brokers to occupational licensing regulations. By …

Persistent link: https://www.econbiz.de/10014106936

Collateral Valuation and Borrower Financial Constraints : Evidence from the Residential Real Estate Market

Agarwal, Sumit - 2014

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/10013065882

Collateral Valuation and Borrower Financial Constraints : Evidence from the Residential Real Estate Market

Agarwal, Sumit - 2013

Persistent link: https://www.econbiz.de/10013071769

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/10012832000

Familiarity Breeds Contagion

Agarwal, Sumit - 2020

Although the impact of social ties on credit markets has been studied, the possibility of contagion through social ties remains unexplored. Examining the Indian caste system and the group loan structure, we find that social ties could turn shocks into a contagion within credit markets: a drought...

Persistent link: https://www.econbiz.de/10012845395

The politics of foreclosures

Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak - 2017

Political Action Committees of the largest mortgage servicing banks to the committee members in that period and is comparable to …

Persistent link: https://www.econbiz.de/10011968870

The Hidden Peril : The Role of the Condo Loan Market in the Recent Financial Crisis

Agarwal, Sumit - 2014

This paper studies a largely overlooked and important segment of the mortgage market in explaining the recent financial …

Persistent link: https://www.econbiz.de/10013065115

Effects of Government Bailouts on Mortgage Modification

Agarwal, Sumit - 2017

mortgage market. The design of the Pooling and Service Agreement leads mortgage servicers to prefer foreclosure to modification …. Using a residential mortgage dataset, including loan-level information, we find that liquidity infusions from the Troubled …

Persistent link: https://www.econbiz.de/10012972902

Systematic mistakes in the mortgage market and lack of financial sophistication

Agarwal, Sumit; Ben-David, Itzhak; Yao, Wenxiong - 2016

borrower types and provides better pricing. We test the effectiveness of a specific set of contracts in the mortgage market …: mortgage points. Points allow borrowers to exchange an upfront amount for a decrease in the mortgage rate. We document that, on … overestimate how long they will stay with the mortgage …

Persistent link: https://www.econbiz.de/10011962222