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来源类型Working Paper
规范类型报告
DOI10.3386/w28781
来源IDWorking Paper 28781
Mortgage Lenders and the Geographic Concentration of Foreclosures
Stephen L. Ross; Yuan Wang
发表日期2021-05-10
出版年2021
语种英语
摘要We use HMDA rate spread loans to identify lenders involved in riskier lending prior to the foreclosure crisis. We develop a shift-share measure of changes in high rate spread share lender representation in housing submarkets across origination years. While half the cross-sectional correlation between foreclosure and high rate spread lender share is explained by borrower observables, we find robust and stable estimates of the within housing submarket relationship between foreclosure and predicted changes in market share. Estimates are not explained by local housing price variation, rather evidence suggests servicer behavior in response to rising local foreclosure rates as a mechanism.
主题Microeconomics ; Households and Firms ; Financial Economics ; Financial Institutions ; Regional and Urban Economics
URLhttps://www.nber.org/papers/w28781
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/586455
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Stephen L. Ross,Yuan Wang. Mortgage Lenders and the Geographic Concentration of Foreclosures. 2021.
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