This research studies one specific financial instrument – Mortgage Servicing Rights (MSRs) and examines whether the fair value of MSRs based on managerial inputs (Level 3) has financial reporting characteristics that differ from the fair value of MSRs based on market inputs (Level 2). Since...

This paper examines the effect of the Black Lives Matter (BLM) movement in mitigating racial discrimination in mortgage lending. We first validate that BLM protests are associated with increased awareness and reckoning of racial inequality by local residents. From a sample of mortgage loans...

This study examines whether including sexual orientation as a protected class in federal fair lending regulations mitigates discrimination against same-sex co-borrowers in home mortgages. Relative to mortgages in states with similar protections in state laws, we predict and find that the federal...