We expand the debate on incentives embedded in the originate-to-distribute lending model by presenting evidence on the placement of mortgage-backed securities (MBS) with mutual funds. We do so by capitalizing on a unique testing platform encompassing institutional holdings of private-label MBS...

We expand the debate on incentives embedded in the originate-to-distribute lending model by presenting evidence on the placement of mortgage-backed securities (MBS) with mutual funds. We do so by capitalizing on a unique testing platform encompassing institutional holdings of private-label MBS...

This paper examines the effect of information sharing agreements between Multiple Listing Service (MLS) platforms on the economic outcomes of listings. We present a theoretical model involving search and matching frictions that predicts that properties will trade at a price discount in the...

We examine the impact of house purchases by large buy-to-rent investors on the value of nearby properties. Returns on repeat sales of properties within a quarter mile of houses purchased by buy-to-rent investors were significantly greater if the repeat sale concluded after the buy-to-rent...