Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 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 properties in 10 specific zip codes to submit loan offers from state …