This paper empirically and theoretically analyzes the effect of debt reductions that reduce long-term but not short-term obligations. Isolating the effect of future…
W13-8: The recent housing bust precipitated a wave of mortgage defaults, with over seven percent of the owner-occupied housing stock experiencing a foreclosure.…
Susan Wharton Gates, Cindy Waldron, Peter Zorn
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February 13, 2004
BABC 04-13: Automated underwriting (AU) systems have become a tool of choice in mortgage lending decisions. While AU provides significant benefits to mortgage…