Predatory lending--exploitative high-cost loans to naYve borrowers-has dominated the
headlines in recent years and has sent foreclosure rates soaring.! There is fierce debate …

A leading explanation for the lack of widespread mortgage renegotiation is the existence of
frictions in the mortgage securitization process. This paper finds similarly small renegotiation …

Mortgage default rates rose dramatically during the recent housing market downturn,
increasing from less than 1% to historically high levels. Understanding the rise in mortgage …

During the housing boom, financially constrained home buyers artificially inflated transaction
prices in order to draw larger mortgages. Using transaction data from Illinois that includes …

Why do homeowners default on mortgages? This paper studies the question using a survey
specifically designed for the purpose, with a sample drawn from (and matched to) very rich …

The lag between the time that a borrower stops making payments on a mortgage and the
termination of the loan plays a critical role in the costs borne by both borrower and lender on …

Financially constrained borrowers have the incentive to influence the appraisal process in
order to increase borrowing or reduce the interest rate. We document that the average …

There are growing concerns about the way predatory mortgages erode housing equity. We
examine another potential impact: the relationship between abusive loan terms and …

This article integrates the concepts of insolvency, trigger events, and consumer risk posture
into the theory of single-family mortgage default. It presents a traditional consumer-or choice …

While reverse mortgages are intended as a tool to enable financial security for older
homeowners, in 2014, nearly 12 percent of reverse mortgage borrowers in the federally …