Predatory mortgage lending

Journal of Financial Economics

Volumn 94, Issue 3, 2009, Pages 412-427

  Bond, Philip ^a   Musto, David K ^a   Yilmaz, Bilge ^b  

^a UNIVERSITY OF PENNSYLVANIA   (United States)

^b STANFORD UNIVERSITY   (United States)

Author keywords

Mortgages; Predatory lending; Subprime

Indexed keywords

EID: 70349838352     PISSN: 0304405X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jfineco.2008.09.011     Document Type: Article

References (42)

1. ACORN Fair Housing, 2003. Predatory lending in South Central Pennsylvania.
2. Ausubel L. The failure of competition in the credit card market. American Economic Review 81 (1991) 50-81
3. Bar-Gill O. The law, economics and psychology of subprime mortgage contracts. Cornell Law Review 94 (2008) 1073-1152
4. Barr M. Credit where it counts: The Community Reinvestment Act and its critics. New York University Law Review 80 (2005) 513-652
5. Benveniste L., and Spindt P. How investment bankers determine the offer price and allocation of new issues. Journal of Financial Economics 24 (1989) 213-232
6. Bernhardt, D., Krasa, S., 2005. The simple analytics of informed finance. Unpublished working paper, University of Illinois at Urbana-Champaign.
7. Bolton P., and Scharfstein D. Optimal debt structure and the number of creditors. Journal of Political Economy 104 (1996) 1-25
8. Bostic R., Engel C., McCoy P., Pennington-Cross A., and Wachter S. State and local anti-predatory lending laws: the effect of legal enforcement mechanisms. Journal of Economics and Business 60 (2008) 47-66
9. Chatterjee, S., Corbae, D., Ríos-Rull, J., 2008. A theory of credit scoring and competitive pricing of default risk. Unpublished working paper, University of Texas at Austin.
10. Dell'Ariccia G., Friedman E., and Marquez R. Adverse selection as a barrier to entry in the banking industry. The RAND Journal of Economics 30 (1999) 515-534
11. Della Vigna S., and Malmendier U. Contract design and self-control: theory and evidence. Quarterly Journal of Economics 119 (2004) 353-402
12. De Meza D., and Webb D. Too much investment: a problem of asymmetric information. Quarterly Journal of Economics 102 (1987) 281-292
13. Elliehausen G., and Staten M. Regulation of subprime mortgage products: an analysis of North Carolina's predatory lending law. Journal of Real Estate Finance and Economics 29 (2004) 411-434
14. Engel K., and McCoy P. A tale of three markets: the law and economics of predatory lending. Texas Law Review 80 (2002) 1255-1367
15. Engel, K., McCoy, P., 2001. The law and economics of remedies for predatory lending. In: Changing Financial Markets and Community Development. Proceedings, Federal Reserve System, pp. 155-169.
16. Engel K., and McCoy P. Predatory lending: What's Wall Street got to do with it?. Housing Policy Debate 115 (2004) 715-751
17. Engelbrecht-Wiggans R., Milgrom P., and Weber R. Competitive bidding and proprietary information. Journal of Mathematical Economics 11 (1983) 161-169
18. Federal Trade Commission, 2000. FTC testifies on enforcement and education initiatives to combat predatory lending practices 〈http://www.ftc.gov/opa/2000/05/subprime2.shtm〉.
19. Gabaix, X., Laibson, D., 2006. Shrouded attributes consumer myopia and information suppression in competitive markets. Quarterly Journal of Economics 121, 505-540.
20. U.S. Government Accountability Office, 2004. Consumer protection: federal and state agencies face challenges in combating predatory lending. Report 04-280.
21. Garmaise, M., 2007. Informed investors and the financing of entrepreneurial projects. Unpublished working paper, University of California, Los Angeles.
22. Gramlich, E., 2001. Tackling predatory lending: regulation and education. The Federal Reserve Board.
23. Hauswald R., and Marquez R. Competition and strategic information acquisition in credit markets. The Review of Financial Studies 16 (2003) 921-948
24. Ho G., and Pennington-Cross A. The impact of local predatory lending laws on the flow of subprime credit. Journal of Urban Economics 60 (2006) 210-228
25. Inderst R., and Mueller H. Informed lending and security design. Journal of Finance 61 (2006) 2137-2162
26. Litan, R., 2003. North Carolina's anti-predatory lending law: still a problem despite new study. AEI-Brookings Joint Center, Regulatory Analysis 03-9.
27. Manove M., Padilla A., and Pagano M. Collateral versus project screening: a model of lazy banks. RAND Journal of Economics 32 (2001) 726-744
28. Marisco R. Subprime lending, predatory lending, and the Community Reinvestment Act. New York Law School Law Review 46 (2003) 735-748
29. Merton R. On the pricing of corporate debt: the risk structure of interest rates. Journal of Finance 29 (1974) 449-470
30. Morgan, D., 2007. Defining and detecting predatory lending. Federal Reserve Bank of New York, Staff Reports No. 273.
31. Morse, A., 2009. Payday lenders: heroes or villains? Unpublished working paper, University of Chicago.
32. Musto D. What happens when information leaves a market? Evidence from post-bankruptcy consumers. Journal of Business 2004 (2004) 725-748
33. Myers S. Determinants of corporate borrowing. Journal of Financial Economics 5 (1977) 147-175
34. Quercia R., Stegman M., and Davis W. Assessing the impact of North Carolina's predatory lending law. Housing Policy Debate 15 (2004) 573-600
35. Renuart E. An overview of the predatory lending process. Housing Policy Debate 15 (2004) 467-502
36. Richardson, C., 2003. Predatory lending and housing disinvestment. Unpublished working Paper, U.S. Department of Justice.
37. Silverman R. Toward curing predatory lending. Banking Law Journal 122 (2005) 483-669
38. Skiba, P., Tobacman, J., 2008. Do Payday Loans Cause Bankruptcy? Unpublished working paper, University of Pennsylvania.
39. Stock, R., 2001. Predation in the sub-prime lending market: Montgomery County. Unpublished working paper, Center for Business and Economic Research, University of Dayton.
40. von Thadden E. Asymmetric information, bank lending and implicit contracts: the winner's curse. Finance Research Letters 1 (2004) 11-23
41. Villeneuve B. Competition between insurers with superior information. European Economic Review 49 (2005) 321-340
42. White M. Why don't more households file for bankruptcy?. Journal of Law, Economics and Organization 14 (1998) 205-231