We provide a framework for empirical analysis of negotiated-price markets. Using mortgage market data and a search and …

mortgage lending. Behavioral exploitation antitrust targets commercial conduct of the sort that was observed in consumer … subprime mortgage lending in the years leading up to 2007. The welfare effects of that conduct are easily established … anticompetitive effects – in their current form permit resort to antitrust remedies in the consumer subprime mortgage market. We argue …

strategically as their home value falls below the mortgage value (exercise the put option to default on their first mortgage). While … current but stand behind a seriously delinquent first mortgage, are subject to a high risk of default. On the other hand … that the various mortgage loss mitigation programs also play a role in providing incentives for homeowners to default on …

We explore the effects of mandatory third-party review of mortgage contracts on consumer choice--including the terms … and demand for mortgage credit. Our study is based on a legislative pilot carried out by the State of Illinois in a … selected set of zip codes in 2006. Mortgage applicants with low FICO scores were required to attend loan reviews by financial …

We explore the effects of mandatory third-party review of mortgage contracts on consumer choice--including the terms … and demand for mortgage credit. Our study is based on a legislative pilot carried out by the State of Illinois in a … selected set of zip codes in 2006. Mortgage applicants with low FICO scores were required to attend loan reviews by financial …