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Do banks pass through credit expansions to consumers who want to borrow?

Agarwal, Sumit; Chomsisengphet, Souphala; Mahoney, Neale; … - In: The quarterly journal of economics 133 (2018) 1, pp. 129-190

Persistent link: https://www.econbiz.de/10012036814

Do banks pass through credit expansions? : the marginal profitability of consumer lending during the Great Recession

Agarwal, Sumit; Chomsisengphet, Souphala; Mahoney, Neale; … - 2015

Persistent link: https://www.econbiz.de/10011350616

Do Banks Pass Through Credit Expansions to Consumers Who Want to Borrow?

Agarwal, Sumit - 2015

We propose a new approach to studying the pass-through of credit expansion policies that focuses on frictions, such as asymmetric information, that arise in the interaction between banks and borrowers. We decompose the effect of changes in banks' cost of funds on aggregate borrowing into the...

Persistent link: https://www.econbiz.de/10012457102

Loan Prospecting and the Loss of Soft Information

Agarwal, Sumit - 2014

We study a controlled experiment in which a bank's loan officers were incentivized based on originated loan volume to encourage prospecting for new business. While treated loan officers did attract new applications, both extensive and intensive margins of loan origination expanded (+31% new...

Persistent link: https://www.econbiz.de/10012458722

Predatory Lending and the Subprime Crisis

Agarwal, Sumit - 2013

We measure the effect of an anti-predatory pilot program (Chicago, 2006) on mortgage default rates to test whether … predatory lending was a key element in fueling the subprime crisis. Under the program, risky borrowers and/or risky mortgage … subprime borrowers. Our results suggest that predatory lending practices contributed to high mortgage default rates among …

Persistent link: https://www.econbiz.de/10012459111

Did the Community Reinvestment Act (CRA) Lead to Risky Lending?

Agarwal, Sumit - 2012

Yes, it did. We use exogenous variation in banks' incentives to conform to the standards of the Community Reinvestment Act (CRA) around regulatory exam dates to trace out the effect of the CRA on lending activity. Our empirical strategy compares lending behavior of banks undergoing CRA exams...

Persistent link: https://www.econbiz.de/10012460053

Serving the underserved : microcredit as a pathway to commercial banks

Agarwal, Sumit; Rusuhuzwa, Thomas Kigabo; Minoiu, Camelia; … - 2021

Persistent link: https://www.econbiz.de/10012499525

The role of securitization in mortgage renegotiation

Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2011

% of the U.S. mortgage market. Exploiting within-servicer variation in these data, we find that bank-held loans are 26% to …

Persistent link: https://www.econbiz.de/10010292147

Market-Based loss mitigation practices for troubled mortgages following the financial crisis

Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2010

The meltdown in residential real-estate prices that commenced in 2006 resulted in unprecedented mortgage delinquency … following modifications. While modification terms are more favorable for weaker borrowers, greater reductions in mortgage … point decline in mortgage interest rate is associated with a nearly 4 percentage point decline in default probability. This …

Persistent link: https://www.econbiz.de/10010292190

Salience of Debt and Homebuyers' Credit Decisions

Agarwal, Sumit; Karapetyan, Artashes - 2016

We show how a regulatory disclosure of hidden debt can eliminate a large mispricing in housing. In a setting where homebuyers must combine several sources of debt, they are biased towards hidden loans, especially if they are young, or have no experience in financial investments or home...

Persistent link: https://www.econbiz.de/10012143877