Do Lenders Make Less-Informed Investments in High-Growth Housing Markets? /

Do Lenders Make Less-Informed Investments in High-Growth Housing Markets? /

Nonlocal mortgage lenders with greater exposure to high-growth housing markets accept fewer loan applications in these markets and experience greater stock return volatility. When these lenders expand to high-growth markets, they also ration credit to a significantly greater degree than when they ex...

Deskribapen osoa

Xehetasun bibliografikoak
Egile nagusia: Chen, Sophia
Beste egile batzuk: Ratnovski, Lev, Sun, Yangfan
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 2021.
Saila:IMF Working Papers; Working Paper ; No. 2021/151
Gaiak:
Banks
Depository Institutions
Foreign Exchange
Informal Economy
Underground Econom
Sarrera elektronikoa:Full text available on IMF
LEADER 02031cas a2200325 a 4500
001 AALejournalIMF021635
008 230101c9999 xx r poo 0 0eng d
020 |c 18.00 USD 
020 |z 9781513573380 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a Chen, Sophia. 
245 1 0 |a Do Lenders Make Less-Informed Investments in High-Growth Housing Markets? /  |c Sophia Chen, Lev Ratnovski, Yangfan Sun. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2021. 
300 |a 1 online resource (53 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Nonlocal mortgage lenders with greater exposure to high-growth housing markets accept fewer loan applications in these markets and experience greater stock return volatility. When these lenders expand to high-growth markets, they also ration credit to a significantly greater degree than when they ex-pand to other markets. Mean-variance analyses show that nonlocal lenders' exposure to high-growth markets is associated with more risk, more efficiency, and more return on mortgage portfolios. Overall, these results imply that expansion to high-growth markets leads to a decline in screening and riskier investment by nonlocal lenders, which may reflect a risk-return tradeoff in their portfolio strategy. 
538 |a Mode of access: Internet 
650 7 |a Banks  |2 imf 
650 7 |a Depository Institutions  |2 imf 
650 7 |a Foreign Exchange  |2 imf 
650 7 |a Informal Economy  |2 imf 
650 7 |a Underground Econom  |2 imf 
700 1 |a Ratnovski, Lev. 
700 1 |a Sun, Yangfan. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2021/151 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2021/151/001.2021.issue-151-en.xml  |z IMF e-Library 

Antzeko izenburuak