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…
There are many causes to the collapse of the housing market and the recent financial turmoil, but the contribution of the CRA appears marginal. While banks did engage in…
BABC 04-7: Little systematic work exists to address the many and varied ways some borrowers end up with subprime mortgages and to what extent those loans serve the true…