Jiang, Wei; Nelson, Ashlyn Aiko; Vytlacil, Edward - In: The Review of Economics and Statistics 96 (2014) 1, pp. 1-18
This paper presents an analysis of mortgage delinquency between 2004 and 2008 using a loan-level data set from a major national mortgage bank. Our analysis highlights two problems underlying the mortgage crisis: a reliance on mortgage brokers who tend to originate lower-quality loans and a...