منابع مشابه
The Impact of Anti-Predatory Lending Laws on Mortgage Volume∗
In this paper, I test the hypothesis that anti-predatory lending laws inhibited the volume of mortgage lending during the housing-bubble period. I use cross-state variation in the strictness of these laws and their application only to mortgage refinancing as opposed to home purchases to develop a difference-in-difference estimate of the impact of these laws on mortgage volume. Consistent with m...
متن کاملPredatory Lending
This paper studies the equilibrium predatory practices that may arise when the borrowers have behavioral weaknesses. Rational lenders offer short term contracts that can be renewed at the cost of paying a penalty fee. We show how the optimal contracts depend on the degree of näıveté of the time inconsistent customers. Penalty fees have a dual role : they increase market share by providing a use...
متن کاملDefining and Detecting Predatory Lending
We define predatory lending as a welfare-reducing provision of credit. Using a textbook model, we show that lenders profit if they can tempt households into “debt traps,” that is, overborrowing and delinquency. We then test whether payday lending fits our definition of predatory. We find that in states with higher payday loan limits, less educated households and households with uncertain income...
متن کاملCross-Lender Variation in Home Mortgage Lending
by Robert B. Avery, Patricia E. Beeson, and Mark S. Sniderman Robert B. Avery is an associate professor in the Department of Consumer Economics and Housing, Cornell University, and Patricia E. Beeson is an associate professor of economics at the University of Pittsburgh; both are visiting scholars at the Federal Reserve Bank of Cleveland. MarkS. Sniderman is senior vice president and director o...
متن کاملHome Mortgage Lending by the Numbers
'uring the past year, several Federal Reserve reports on home mortgage lending have attracted widespread attention for what they revealed about racial lending patterns. The Federal Reserve Board, in backto-back analyses of 1990 and 1991 data gathered nationwide, reported that black and Hispanic applicants are denied credit at roughly twice the rate of white applicants. And in a study designed t...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2008
ISSN: 1556-5068
DOI: 10.2139/ssrn.1288094