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Why aren't banks lending more? the role of commercial real estate

Agarwal, Sumit; Genay, Hesna; McMenamin, Robert - In: Chicago Fed Letter (2010) Dec

Since August 2007, the U.S. and global financial markets have endured the worst crisis since the Great Depression, accompanied by a deep economic recession. At the height of the crisis, whole segments of financial markets froze and market participants hesitated to engage in transactions with...

Persistent link: https://www.econbiz.de/10008740024

Do financial counseling mandates improve mortgage choice and performance? Evidence from a legislative experiment

Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - Federal Reserve Bank of Chicago - 2009

We explore the effects of mandatory third-party review of mortgage contracts on the terms, availability, and performance of mortgage credit. Our study is based on a legislative experiment in which the State of Illinois required “high-risk” mortgage applicants acquiring or refinancing...

Persistent link: https://www.econbiz.de/10008636091

Homebuilders, Affiliated Financing Arms and the Mortgage Crisis

Agarwal, Sumit; Amromin, Eugene; Gartenberg, Claudine; … - In: Economic Perspectives (2014) Q II, pp. 38-51

The authors’ findings indicate that homebuilder financing affiliates do make loans to observably riskier borrowers, but … the loans made by homebuilders have lower delinquency rates than those made by unaffiliated lenders, even when loan and …

Persistent link: https://www.econbiz.de/10010778843

The role of securitization in mortgage renegotiation

Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - Federal Reserve Bank of Chicago - 2011

% of the U.S. mortgage market. Exploiting within-servicer variation in these data, we find that bank-held loans are 26% to …, modifications of bank-held loans are more efficient: conditional on a modification, bank-held loans have lower post … a significant challenge to effective renegotiation of residential loans. …

Persistent link: https://www.econbiz.de/10008852883

Spending responses to state sales tax holidays

Agarwal, Sumit; McGranahan, Leslie - 2012

Every year over 20 states offer sales tax holidays (STHs) on specific items like clothes, shoes and other items to encourage consumption, effecting over 100 million consumers. We use a unique dataset of credit cards transaction to study the spending response to these holidays. Using a...

Persistent link: https://www.econbiz.de/10010292191

Collateral valuation and borrower financial constraints : evidence from the residential real estate market

Agarwal, Sumit; Ben-David, Itzhak; Yao, Wenxiong - In: Management science : journal of the Institute for … 61 (2015) 9, pp. 2220-2240

Persistent link: https://www.econbiz.de/10011372430

Age of decision : pension savings withdrawal and consumption and debt response

Agarwal, Sumit; Pan, Jessica; Qian, Wenlan - In: Management science : journal of the Institute for … 66 (2020) 1, pp. 43-69

Persistent link: https://www.econbiz.de/10012156560

Distance and information asymmetries in lending decisions

Agarwal, Sumit; Hauswald, Robert B. H. - Federal Reserve Bank of Chicago - 2007

Persistent link: https://www.econbiz.de/10010723697

The age of reason: financial decisions over the lifecycle

Agarwal, Sumit; Driscoll, John C.; Gabaix, Xavier; … - Federal Reserve Bank of Chicago - 2007

The sophistication of financial decisions varies with age: middle-aged adults borrow at lower interest rates and pay fewer fees compared to both younger and older adults. We document this pattern in ten financial markets. The measured effects cannot be explained by observed risk characteristics....

Persistent link: https://www.econbiz.de/10005419884

How do private firms use credit lines?

Agarwal, Sumit; Chomsisengphet, Souphala; Driscoll, John C. - In: Economic Perspectives (2011) Q II, pp. 71-79

The authors find that firms that face higher upfront commitment fees, risk premium spreads or usage fees have smaller credit lines, while those with higher overdraft fees have larger ones. Firms with greater profit growth in the past have larger credit lines, while those with more internal funds...

Persistent link: https://www.econbiz.de/10009024033