文献详情
Impact of Foreclosure Laws on Mortgage Loan Supply and Performance
文献类型：期刊
通讯作者：Wang, YL (reprint author), City Univ Hong Kong, Dept Econ & Finance, 9-F Lau Ming Wai Acad Bldg,Tat Chee Ave, Kowloon, Hong Kong, Peoples R China.
期刊名称：JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS
年：2019
卷：58
期：2
页码：159-200
ISSN：0895-5638
关键词：Mortgage lending; Mortgage default; Foreclosure laws; Border identification strategy
所属部门：商学院
摘要：This paper measures the impact of three types of defaulter-friendly foreclosure laws on the behaviors of mortgage lenders in loan origination, and borrowers in default decision. To disentangle the pure influence of foreclosure laws from that of unobserved regional factors, we use the border identification strategy to sort the loan sample in the zip codes on both sides of a border dividing states by the foreclosure laws adopted. Unlike the previous research, we find no conclusive evidence on the ...More
This paper measures the impact of three types of defaulter-friendly foreclosure laws on the behaviors of mortgage lenders in loan origination, and borrowers in default decision. To disentangle the pure influence of foreclosure laws from that of unobserved regional factors, we use the border identification strategy to sort the loan sample in the zip codes on both sides of a border dividing states by the foreclosure laws adopted. Unlike the previous research, we find no conclusive evidence on the causal effects of foreclosure laws on loan supply and default risk. The empirical results are highly sensitive to fixed effect specifications, time period, and sample selection. ...Hide

DOI：10.1007/s11146-017-9641-0
百度学术：Impact of Foreclosure Laws on Mortgage Loan Supply and Performance
语言：外文
基金：National Science Foundation of China [71704182]
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