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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w28781 |
来源ID | Working 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 |
URL | https://www.nber.org/papers/w28781 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586455 |
推荐引用方式 GB/T 7714 | Stephen L. Ross,Yuan Wang. Mortgage Lenders and the Geographic Concentration of Foreclosures. 2021. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w28781.pdf(551KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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