Piskorski, Tomasz; Seru, Amit; Witkin, James - National Bureau of Economic Research (NBER) - 2013
We contend that buyers received false information about the true quality of assets in contractual disclosures by intermediaries during the sale of mortgages in the $2 trillion non-agency market. We construct two measures of misrepresentation of asset quality - misreported occupancy status of...