Guaranteed Asset Protection (GAP) shields purchasers from financial risks of losses exceeding insured collateral values if vehicles become total losses. Yet surprisingly little is known about the sales of this voluntary product, or consumers’ attitudes toward it. In this study, we report the...

This study analyzes the effects of state bankruptcy asset exemptions and foreclosure laws on mortgage default and foreclosure rates across different segments of the mortgage market. We found that the effects of these legal provisions are larger for sub-prime than for prime mortgages and larger...

In their pioneering work, Musto and Souleles (Journal of Monetary Economics 53(1):59–84, <CitationRef CitationID="CR19">2006</CitationRef>) apply portfolio theory to consumer lending. This paper extends their work by analyzing three county-level credit outcome betas. We use the probability of default calibrated from the credit score, the...</citationref>

"One of the most rapidly growing and controversial forms of consumer lending to recently emerge in the marketplace has been payday advances. This form of credit allows the borrower to obtain a small amount of cash for a short period of time. Claims of predatory lending often arise due to the...

This article presents a number of key findings from a review of the data that mortgage lending institutions reported for 2011 under the Home Mortgage Disclosure Act (HMDA). The article documents home-lending activity reflected in the HMDA data and places the 2011 activity in historical context....

This study analyzes the effects of state bankruptcy asset exemptions and foreclosure laws on mortgage default and foreclosure rates across different segments of the mortgage market. We found that the effects of these legal provisions are larger for subprime than for prime mortgages and larger...