evidence that CFPB oversight significantly reduces the overall volume of mortgage lending. However, we find some evidence of …

Home appraisals are produced for millions of residential mortgage transactions each year, but appraised values are … institutional framework that governs mortgage lending lead to information loss in appraisals (that is, appraisals set equal to the … incidence of mortgage default at loan-to-value boundaries (notches) above which mortgage insurance rates increase. Appraisals …

of financial innovations and weed out those which are entirely or mainly driven by regulatory arbitrage considerations …

We document that the quasi-mandatory U.S. flood insurance program reduces mortgage lending along both the extensive and … complicated insurance mandates. Overall, our findings speak to the unintended consequences of (well-intentioned) regulation. They …