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Full-Text Articles in Law
Exactions Creep, Lee Anne Fennell, Eduardo Peñalver
Exactions Creep, Lee Anne Fennell, Eduardo Peñalver
Kreisman Working Paper Series in Housing Law and Policy
No abstract provided.
Just Enough, Lee Anne Fennell
Just Enough, Lee Anne Fennell
Kreisman Working Paper Series in Housing Law and Policy
No abstract provided.
Property In Housing, Lee Anne Fennell
Property In Housing, Lee Anne Fennell
Kreisman Working Paper Series in Housing Law and Policy
No abstract provided.
Why Has Regional Income Convergence In The U.S. Declined?, Peter Ganong, Daniel Shoag
Why Has Regional Income Convergence In The U.S. Declined?, Peter Ganong, Daniel Shoag
Kreisman Working Paper Series in Housing Law and Policy
No abstract provided.
Advertising Expensive Mortgages, Umit G. Gurun, Gregor Matvos, Amit Seru
Advertising Expensive Mortgages, Umit G. Gurun, Gregor Matvos, Amit Seru
Kreisman Working Paper Series in Housing Law and Policy
We use a unique dataset that combines information on advertising and mortgages originated by subprime lenders to study whether advertising helped consumers find cheaper mortgages. Lenders who advertise more within a region sell more expensive mortgages, measured as the excess rate of a mortgage after accounting for a broad set of borrower, contract, and regional characteristics. These effects are stronger for mortgages sold to less sophisticated consumers. We exploit variation in mortgage advertising induced by the entry of Craigslist across different regions as well as a battery of other tests to demonstrate that the relation between advertising and mortgage expensiveness …
Asset Quality Misrepresentation By Financial Intermediaries: Evidence From Rmbs Market, Tomasz Piskorski, Amit Seru, James Witkin
Asset Quality Misrepresentation By Financial Intermediaries: Evidence From Rmbs Market, Tomasz Piskorski, Amit Seru, James Witkin
Kreisman Working Paper Series in Housing Law and Policy
We contend that buyers received false information about the true quality of assets in contractual disclosures by intermediaries during the sale of mortgages in the $2 trillion non-agency market. We construct two measures of misrepresentation of asset quality -- misreported occupancy status of borrower and misreported second liens -- by comparing the characteristics of mortgages disclosed to the investors at the time of sale with actual characteristics of these loans at that time that are available in a dataset matched by a credit bureau. About one out of every ten loans has one of these misrepresentations. These misrepresentations are not …
Forcings, Lee Anne Fennell
Forcings, Lee Anne Fennell
Kreisman Working Paper Series in Housing Law and Policy
Eminent domain receives enormous amounts of scholarly and popular attention, and for good reason—it is a powerful form of government coercion that cuts to the heart of ownership. But a mirror-image form of government coercion has been almost entirely ignored: forced ownership, or "forcings." While legal compulsion to begin or continue ownership is neither entirely unstudied as an academic matter nor entirely unprecedented as a doctrinal matter, the category lacks a unified treatment. Because coercively imposed ownership can substitute for other forms of government coercion, forcings deserve attention, even if they will rarely dominate other alternatives. Attending to forcings as …