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A Burning Question: Does Arson Increase When Local House Prices Decline?, Michael D. Eriksen, James M. Carson
A Burning Question: Does Arson Increase When Local House Prices Decline?, Michael D. Eriksen, James M. Carson
Michael D Eriksen
We construct panel data on house prices and the determined cause of 4.8 million individual fires in the United States between 1986 and 2010 to test whether decreases in local housing market prices coincided with increases in arson. Since some insured homeowners may attempt to disguise the actual cause of fire as accidental, we also examine how decreases in local house prices are associated with changes in the total number of fires and the probability of determined causes of accidental fires. For the sample period, our results suggest that declines in local house prices coincided with increases in arson, the …
Goliath Versus Goliath In Hight-Stakes Mbs Litigation, Bradley T. Borden, David J. Reiss
Goliath Versus Goliath In Hight-Stakes Mbs Litigation, Bradley T. Borden, David J. Reiss
Bradley T. Borden
The loan-origination and mortgage-securitization practices between 2000 and 2007 created the housing and mortgage-backed securities bubble that precipitated the 2008 economic crisis and ensuing recession. The mess that the loan-origination and mortgage-securitization practices caused is now playing out in courts around the world. MBS investors are suing banks, MBS sponsors and underwriters for misrepresenting the quality of loans purportedly held in MBS pools and failing to properly transfer loan documents and mortgages to the pools, as required by the MBS pooling and servicing agreements. State and federal prosecutors have also filed claims against banks, underwriters and sponsors for the roles …