We study the pathways by which borrowers and lenders influence house prices and default rates via their choices and offerings of fixed-rate and adjustable-rate mortgage products (FRMs and ARMs) in a two-period setting. We extend previous literature on mortgage choice as a tool for borrower risk...

I investigate the relationship between land use regulations and the house prices of urban low-income homeowners in the United States between 1998 and 2010. Because low-income homeowners generally hold a larger fraction of their wealth as home equity and are less likely to sustain homeownership,...

There is a general consensus among researchers and policymakers that matched savings programs can significantly increase the propensity to save among low-income households. This study offers a unique contribution to the field by testing whether principals and theories from behavioral economics...

<title>Abstract</title> There are growing concerns about the way predatory mortgages erode housing equity. We examine another potential impact: the relationship between abusive loan terms and foreclosure. Do predatory characteristics increase the likelihood of foreclosure once other risk factors are taken into...

<title>Abstract</title> This study focuses on the transition out of homeownership among community reinvestment loan borrowers, documenting patterns among low‐income and minority households. We show that the higher rates of home‐ownership exit documented among low‐income and minority borrowers in the...

<title>Abstract</title> This article documents the growing importance of preventive servicing—business practices that emphasize early intervention in delinquency and default management practices that also help financially troubled borrowers avoid foreclosure. We suggest that the loan servicing side of the...