Conklin, James; Frame, W. Scott; Gerardi, Kristopher; … - 2018
purchase mortgages to subprime borrowers. We also document that the expansion in speculative mortgage products and underwriting …An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002 …-06 U.S. house price boom. Contrary to this belief, we show that the house price and subprime booms occurred in different …