Do Parents Matter? Effects of Lender Affiliation Through the Mortgage Boom and Bust
Management Science, pp. 2776-2793, 2014.
strategyincentivescorporate financereal estateorganization
It is widely acknowledged that the 2007 mortgage crisis was preceded by a broad deterioration in underwriting diligence. This paper shows that this deterioration varied by the industry affiliation of mortgage lenders. Loans issued by homebuilders and stand-alone lenders were significantly less likely to default than loans issued by deposi...More
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