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The Effect of Large Investors on Asset Quality : Evidence from Subprime Mortgage Securities

Adelino, Manuel - 2015

information-sensitive securities, such as equities and bank debt, to information-insensitive arm's-length debt …

Persistent link: https://www.econbiz.de/10013026112

Federal Home Loan Bank Advances and Commercial Bank Portfolio Composition

Frame, W. Scott - 2014

This paper considers the role of Federal Home Loan Bank (FHLB) advances in stabilizing their commercial bank members …. Using panel vector autoregression (VAR) techniques, we estimate recent dynamic responses of U.S. bank portfolios to FHLB … advance shocks, bank lending shocks, and macroeconomic shocks. Our empirical findings suggest that FHLB advances are just as …

Persistent link: https://www.econbiz.de/10012709369

Why Do Borrowers Pledge Collateral? New Empirical Evidence on the Role of Asymmetric Information

Berger, Allen N. - 2014

An important theoretical literature motivates collateral as a mechanism that mitigates adverse selection, credit rationing, and other inefficiencies that arise when borrowers hold ex ante private information. There is no clear empirical evidence regarding the central implication of this...

Persistent link: https://www.econbiz.de/10012709533

Debt Maturity, Risk, and Asymmetric Information

Berger, Allen N. - 2014

We test the implications of Flannery's (1986) and Diamond's (1991) models concerning the effects of risk and asymmetric information in determining debt maturity, and we examine the overall importance of informational asymmetries in debt maturity choices. We employ data on over 6,000 commercial...

Persistent link: https://www.econbiz.de/10012710153

Are the Largest Banking Organizations Operationally More Risky?

Curti, Filippo; Frame, W. Scott; Mihov, Atanas - 2020

This study demonstrates that, among large U.S. bank holding companies (BHCs), the largest ones are exposed to more …

Persistent link: https://www.econbiz.de/10014048859

Villains or Scapegoats? The Role of Subprime Borrowers in Driving the U.S. Housing Boom

Conklin, James; Frame, W. Scott; Gerardi, Kristopher S.; … - 2020

An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002–2006 U.S. house price boom. By contrast, this paper documents a robust, negative correlation between the growth in the share of purchase mortgages to subprime borrowers and...

Persistent link: https://www.econbiz.de/10014048863

The Impact of Minority Representation at Mortgage Lenders

Frame, W. Scott; Huang, Ruidi; Mayer, Erik J.; Sunderam, Adi - 2022

We study links between the labor market for loan officers and access to mortgage credit. Using novel data matching the (near) universe of mortgage applications to loan officers, we find that minorities are significantly underrepresented among loan officers. Minority borrowers are less likely to...

Persistent link: https://www.econbiz.de/10013405221

The Impact of Minority Representation at Mortgage Lenders

Frame, W. Scott; Huang, Ruidi; Mayer, Erik J.; Sunderam, Adi - National Bureau of Economic Research - 2022

Persistent link: https://www.econbiz.de/10013334344

Resolving large financial intermediaries : banks versus housing enterprises

Wall, Larry D.; Eisenbeis, Robert A.; Frame, W. Scott - In: Journal of financial stability 1 (2004/05) 3, pp. 386-425

Persistent link: https://www.econbiz.de/10003773203

Comment on "Resolving large financial intermediaries : banks versus housing enterprises" by Eisenbeis et al.

Wachter, Susan M. - In: Journal of financial stability 1 (2004/05) 3, pp. 447-450

Persistent link: https://www.econbiz.de/10003773245